More signs of July's housing market boom


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More signs of July’s housing market boom

More signs of July’s housing market boom
The Mortgage Advice Bureau (MAB) has revealed that July was the busiest month in the brokerage’s 13-year history. Earlier this week, data from the Office for National Statistics revealed that prices in London rose 8.1 per cent in the year to June.
City AM London, p. 3

6,000 UK bank branches could close by 2020
Half of Europe’s bank branches could become unviable or unnecessary by 2020, according to a study out yesterday from commercial real estate group Jones Lang LaSalle.
City AM London, p. 2

Fitch warns on breaking RBS into bad bank
RBS is recovering and breaking it into a so-called good bank and bad bank could be an expensive mistake for taxpayers, credit ratings agency Fitch warned yesterday.
City AM London, p. 4
Also appeared in : The Daily Telegraph Business, p.5, The Guardian, p.30

Eurozone emerges from its 18-month recession
Eurostat published figures yesterday showing that the eurozone finally emerged from recession in the quarter to June, growing by 0.3% in the period, slightly ahead of expectations of growth of 0.2%. The data also showed growth in the wider European Union rose by 0.3%, after shrinking by 0.1% in the first three months of the year. The revival was led by Germany, which grew by 0.7% in the second quarter. Brussels warned that the data did not show that the eurozone had recovered. Olli Rehn, EU commissioner for Economic and Monetary Affairs, insisted that the bloc still had “substantial obstacles to overcome”. “There is no room for any complacency”, said Mr Rehn. “Self-congratulatory statements suggesting ‘the crisis is over’ are not for today”.
The Daily Telegraph Business, p. 1-5

Carney may have to relaunch QE to keep down interest rates
Top economists have said that the Bank of England may have to relaunch quantitative easing within months to ensure interest rates remain low if markets did not move into line with the “forward guidance” unveiled by Governor Mark Carney last week. The warning came after another rise in both sterling and government borrowing costs and as traders brought forward their forecasts for a first rate rise to the third quarter of 2015 – roughly a year earlier than the Bank has signalled.
The Daily Telegraph Business, p. 1

Short-dated British borrowing costs rose and ten-year yields hit a post-2011 peak as doubts surfaced over the Bank of England’s commitment to low interest rates.
The Times, p. 43

Guidance questioned
Traders are betting that the Bank of England will raise interest rates in May 2015, more than a year sooner than Mark Carney signalled last week with his “forward guidance”.
The Times, p. 35

The above articles appeared on 15/08/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.