UK house prices rise at fastest rate since 2016, says Nationwide | Money

House prices rose in September at the fastest annual rate since the aftermath of the Brexit vote in 2016, according to the UK’s biggest building society, as buyers continued to take advantage of a benign market despite the coronavirus pandemic.

The average UK house price rose by 5% in September compared with the same month last year, to £226,129 – a record high, Nationwide reported.

The pandemic has shaken up the housing market, with the return of demand after the UK-wide lockdown and temporary cuts to stamp duty helping to sustain sales even as economists forecast a significant increase in unemployment over the coming quarter.

Prices rose by 0.9% month on month in September after jumping by 2% in the previous month as housing market activity surged, Nationwide said. Separate data published on Tuesday by the Bank of England showed that mortgage approvals during August had risen to the highest level in almost 13 years and the rival mortgage lender Halifax also reported record high UK prices in August.

Price jumps were evident across the UK, with the south-west of England and the commuter towns surrounding London recording increases of more than 5% in the third quarter of 2020 compared with a year earlier. Only in Scotland and the north-west of England did the pace of annual growth slow during the quarter.

Average prices within London hit a record high of £480,857 in September, leaving them 57% above their 2007 levels, shortly before the global financial crisis.

Robert Gardner, Nationwide’s chief economist, said: “The rebound [in UK prices] reflects a number of factors. Pent-up demand is coming through, with decisions taken to move before lockdown now progressing.

“The stamp duty holiday is adding to momentum by bringing purchases forward. Behavioural shifts may also be boosting activity as people reassess their housing needs and preferences as a result of life in lockdown.”

However, some economists predict that the boom in house prices may run out of steam in the coming months as the government’s support for the job market diminishes significantly, and unemployment is expected to hit 8% by the end of the year, according to independent forecasts collated by the Treasury.

Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk

The stamp duty holiday for properties below £500,000 will also expire on 31 March 2021, unless the chancellor, Rishi Sunak, chooses to extend it in a delayed budget.

One economic forecaster, the EY Item Club, suggests that house prices could be about 5% lower than now by mid-2021 as the economy worsens.

Hansen Lu, an economist at Capital Economics, a consultancy, said: “Price gains are likely to slow as the pent-up demand driving the market now is expended. Looking ahead, we think a weak underlying economy and the end of the stamp duty cut will slow house price growth to a standstill by the end of 2021.”

The “mini boom” in house prices may partly reflect the shift to working from home during

Read more

UK property prices rise at fast rate in 4 years in September

Estate agents property for sale boards on display outside a residential property in north London. Photo: Dinendra Haria / SOPA Images/Sipa USA
Estate agents property for sale boards on display outside a residential property in north London. Photo: Dinendra Haria / SOPA Images/Sipa USA

UK house prices are surging at their fastest rate in four years, as pent up demand post-lockdown and a temporary Stamp Duty cut fuel a buying boom.

Nationwide’s closely-watched House Price Index found prices jumped by 5% on an annual basis in September, the biggest increase since September 2016.

Prices grew by 0.9% between August and September. Both the annual growth figure and the month-on-month growth were ahead of City forecasts.

The average UK house price now stands at £226,129 ($288,167), Nationwide said.

Watch: Why house prices are rising despite COVID-19 and a recession in the UK

“The rebound reflects a number of factors,” said Robert Gardner, Nationwide’s Chief Economist.

“Pent-up demand is coming through, with decisions taken to move before lockdown now progressing. The stamp duty holiday is adding to momentum by bringing purchases forward. Behavioural shifts may also be boosting activity as people reassess their housing needs and preferences as a result of life in lockdown.”

Gardner said the pandemic was encouraging people to move. Lockdowns and working from home have spurred many people to look for new properties with more space and a garden, with less concern about commuting distance.

READ MORE: UK mortgage approvals hit highest level since 2007

25% of people surveyed by Nationwide in London said they were moving as a result of the lockdown, while another 15% of residents in the capital were thinking about moving.

All regions of the UK saw house prices grow between July and September. The highest growth was in the South West of England, where annual price growth was 5.5%.

Nationwide’s price data comes a day after the Bank of England said mortgage approvals hit a 13-year high in August, underlining the strength of the property boom.

Experts believe the property market could loose steam in the coming months as the government’s economic support measures unwind.

“Most forecasters expect labour market conditions to weaken significantly in the quarters ahead as tighter restrictions dampen economic activity and the furlough scheme winds down,” said Gardener.

“While the recently announced jobs support scheme will provide some assistance, it is not as comprehensive as the furlough scheme it replaces.”

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: “We continue to expect the official measure of prices to peak in October, and then to reverse all of its gains since March over the following 12 months.”

Estate agents Hamptons expects house prices to fall across much of the UK next year.

Source Article

Read more

Global Luxury Interior Design Market 2020 Regional Production Volume, Business Operation Data Analysis, Revenue and Growth Rate by 2025

The MarketWatch News Department was not involved in the creation of this content.

Sep 20, 2020 (CDN Newswire via Comtex) —
MarketsandResearch.biz has documented a market research study titled Global Luxury Interior Design Market 2020 by Company, Regions, Type and Application, Forecast to 2025 that concentrates on the industry, holding a massive market share both concerning volume and value. The report contains realistic data and significant information on the global Luxury Interior Design market. The report provides a deep study of the market growth factors and drivers, in-depth research of the industry limitations and the opportunities enable the user to make the future projection for 2020 to 2025 time-period. Analysts make a brilliant attempt to unveil key opportunities available in the global market. Buyers of the report can access verified and reliable market forecasts in terms of both revenue and volume.

Key Aspects of the Market Report:

The report keeps a view to describe the market components such as product types and end-users in detail. It offers a critical assessment of the emerging competitive landscape of the manufacturers as the demand for the Luxury Interior Design is projected to increase substantially across the different regions. The report is widely known for its accuracy and factual figures as it consists of a succinct graphical representation, tables, and figures which display a clear picture of the developments of the products. Additionally, the research thoroughly assesses the scope of the growth potential, revenue growth, product range, and pricing factors related to the market.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

DOWNLOAD FREE SAMPLE REPORT:https://www.marketsandresearch.biz/sample-request/103038

Important Pointers from the Global Luxury Interior Design Market:

  • Growth rate
  • Current market trends
  • Competitive ranking analysis
  • Industry drivers
  • Regional bifurcation
  • Market concentration ratio
  • Consumption growth rate
  • Market share of each application fragment

The market research report is framed with the most excellent and sophisticated tools of collecting, recording, estimating, and analyzing market data. This research document is helpful for strategists, marketers and senior management, and key players in the global Luxury Interior Design industry. Factors such as emergent and future market trends, market restraining, driving, and limiting factors, changing market dynamics, and demand-supply ratios are covered.

The industry profile also contains descriptions of the leading topmost manufactures/players like: Gensler, IA Interior Architects, HBA, Gold Mantis, Stantec, HOK, Nelson, Jacobs, Perkins+Will, CallisonRTKL, Cannon Design, CCD, Leo A Daly, Wilson Associates, NBBJ, DB & B, SOM, AECOM Technology, Perkins Eastman, HKS, M Moser Associates, SmithGroupJJR, Areen Design Services

Consumption, production, capacity, market share, growth rate, and prices are included for each product type segment of the global market: Residential, Commercial, Others

Consumption, market share and growth rate for each application segment of the market: Newly Decorated, Repeated Decorated

Segmentation by geography and analysis of the market: North America (United States, Canada and Mexico),

Read more

Interior Design Market 2020 – Impact of Covid 19 on Industry Share, Size, Price, CAGR, Growth Rate and Future Prospects

The MarketWatch News Department was not involved in the creation of this content.

Aug 17, 2020 (The Expresswire) —
Global “Interior Design Market” Report discusses about thenew Advances and Prospectsin Interior Design Market. This report analyses adoption trends, key challenges, future growth potentials, key drivers, competitive outlook, restraints, opportunities, market ecosystem, and value chain analysis of Interior Design Industry. The objective of Interior Design market report is to knowrecent development trends, upcoming opportunities, identifying the emerging application areas across Interior Design industry.

Final Report will add the analysis of the impact of COVID-19 on this Industry.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT – REQUEST SAMPLE

Interior DesignMarket competition by top manufacturers/ Key player Profiled:

  • Gensler
  • Gold Mantis
  • HOK
  • HBA
  • Perkins+Will
  • Jacobs
  • Stantec
  • IA Interior Architects
  • Callison
  • Nelson
  • Leo A Daly
  • SOM
  • HKS
  • DB and B
  • Cannon Design
  • NBBJ
  • Perkins Eastman
  • CCD
  • AECOM Technology
  • Wilson Associates
  • M Moser Associates
  • SmithGroupJJR
  • Areen Design Services

Get a sample copy of the report @http://www.360marketupdates.com/enquiry/request-sample/14778189

The global Interior Design Market will rise at a significant rate during the forecast period, between 2020 and 2025. This report studies the Interior Design market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.

Interior Design Market Segment by Type covers:

  • Residential
  • Commercial
  • Others

Interior Design Market Segment by Applications can be divided into:

  • Newly Decorated
  • Repeated Decorated

Fill the Pre-Order Enquiry form for the report@https://www.360marketupdates.com/enquiry/pre-order-enquiry/14778189

Regional analysis covers:

  1. North America (USA, Canada and Mexico)
  2. Europe (Germany, France, UK, Russia and Italy)
  3. Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
  4. South America (Brazil, Argentina, Columbia etc.)
  5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Key questions answered in the report:

  • What will themarketgrowth rateof Interior Design market?
  • What are thekey factors drivingthe global Interior Design market size?
  • Who are thekey manufacturersin Interior Design market space?
  • What are themarket opportunities, market risk and market overviewof the Interior Designmarket?
  • What aresales, revenue, and price analysisof top manufacturers of Interior Design market?
  • Who are the distributors, traders and dealers of Interior Design market?
  • What are the Interior Design market opportunities and threats faced by the vendors in the global Interior Designindustries?
  • What are sales, revenue, and price analysis by types and applicationsof Interior Designmarket?
  • What aresales, revenue, and price analysis by regionsof Interior Design industries?

Purchase this report (Price 3350 USD for a single-user license)@https://www.360marketupdates.com/purchase/14778189

Key Benefits to purchase this Interior Design Market Report

  • Major countries in each region are mapped according to individual market revenue.
  • Comprehensive analysis of factors that drive and restrict the Interior Design market growth is provided.
  • The report includes an in-depth analysis of current research and clinical developments within the market.
  • Key players and their key developments in
Read more

Global Kitchen Faucet Market Comprehensive Insight by Growth Rate, Trends, Industry Status, Key Players Forecast till 2026

The MarketWatch News Department was not involved in the creation of this content.

Sep 10, 2020 (The Expresswire) —
The global “Kitchen Faucets Market” is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Kitchen Faucets Market Size, Share and Industry Analysis By Product (Pull-Down Faucet, Pull-Out Faucet, Hands-Free, Bar Faucets, Pot Filters, Faucet with side Spray), By Installation Type (Deck Mount, Wall Mount), By Material (Chrome, Stainless Steel, Bronze, Plastic), By Number of Faucet Holes (One, Two, Three, Four) and Regional Forecast, 2018-2025”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.

The report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also the research report separates the industry based on the Kitchen Faucets Market share, types, applications, growth factor, key players and regions.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Get a Sample Copy of the Report at -https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100455

List of Top Key Manufacturers for Kitchen Faucets Market:

  • Lixil Group Corporation
  • Hansgrohe Group
  • Masco Corporation
  • Fortune Brands
  • Spectrum Bands
  • TOTO
  • Roca Sanitario
  • Jaquar Group

“Koehler’s Cloud-based Konnect Platform Sets New Standards in the Faucets Industry”

Jaquar Group, Lixil Group Corporation, Masco Corporation, Hansgrohe Group, Spectrum Bands, Fortune Brands, Roca Sanitario, S.A., and TOTO are some of the leading players operating in the global kitchen faucets market. Several large and small scale players are planning to set up manufacturing units in order to upgrade their production processes. In addition to this, manufacturers are trying to target the urban population by introducing premium kitchen faucets products such as faucet taps in the market. In 2018, Koehler announced the introduction of Koehler Konnect Platform. This platform is based on Microsoft’s Azure platform enabled with the internet of things (IoT) cloud solutions. Koehler’s products consist of Sensate faucet which operates on voice commands or touch-screen interactions. This platform allows a user to monitor water usage and track its consumption on a daily basis. Other companies are also working on developing new kitchen faucets to survive the competition.

Some of the Key Questions Answered in this Report:

  • Detailed Overview of Kitchen Faucets Market will help deliver clients and businesses making strategies.
  • Influencing factors that
Read more