UK house price rise speeds up in September: Nationwide

FILE PHOTO: An apartment block is constructed behind a row of traditional properties in central London December 11, 2014. REUTERS/Luke MacGregor/Files

LONDON (Reuters) – British house prices rose by the most in four years in September when they jumped by an annual 5.0%, mortgage lender Nationwide said on Wednesday as a sharp rebound in the country’s housing market accelerated.

The increase was stronger than the median forecast of a 4.5% rise in a Reuters poll of economists and average prices hit a fresh record high.

Britain’s housing market has boomed since the coronavirus lockdown with a rush by some buyers for bigger houses outside of urban areas in the new work-from-home age combining with pent-up demand.

Nationwide said about 10% of people it surveyed in September were in the process of moving as a result of the pandemic, rising to 15% in London. A further 18% of those asked said they were considering moving due to the pandemic.

“Behavioural shifts may also be boosting activity as people reassess their housing needs and preferences as a result of life in lockdown,” Nationwide’s chief economist Robert Gardner said.

Housing industry officials have warned that the mini-boom could run out of steam soon with unemployment expected to rise sharply and COVID-19 cases on the rise again.

Nationwide said prices rose by 0.9% in September from August compared with a forecast of a 0.5% increase in the Reuters poll.

Nationwide said the housing market had also been boosted by finance minister Rishi Sunak’s tax cut on house purchases which he introduced in July as he sought to boost the broader economy after its record 20% contraction between April and June.

Bank of England data published on Tuesday showed mortgage approvals hit their highest in almost 13 years in August.

Reporting by Sarah Young; editing by William Schomberg

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I Luv Company, Specializing in Silicone Kitchen Utensils and Idea Consumer Goods, Speeds Up the Entry into Overseas Markets – Press Release

Video Link: https://www.youtube.com/embed/M-s5oIzQYF0

I Luv Company, which sells silicone kitchen utensils and idea consumer goods to hypermarkets and home shopping in Korea, is accelerating its entry into the overseas market.

I Luv Company is loved by housewives in their 30s, 40s and 50s, dealing with silicone and novel idea kitchen utensils and daily necessities, as well as safe consumer goods and cost-effective consumer goods.

I Luv Company owns 1 patent and 2 trademark registrations, 1 design, and 1 intellectual property rights, was awarded in the Trademark Design Rights Fair in 2018, and received a commendation from the Shared Growth Committee and the Ministry of Trade, Industry and Energy in 2019. 

The main product of I Luv Company is silicone cooking utensils, and what’s special is that it is entirely made of silicone, unlike general cases where only part of the product is made of to lower the mass production cost, so it’s safer and more hygienic. 

The silicone material does not generate harmful components and can survive in boiling water by withstanding 250 degrees to minus 50 degrees Celsius and can be disinfected. Also, because it is flexible, there is no sound or scratches on cooking utensils, pans, etc., preventing the growth of secondary bacteria in advance.

Among the products of the I Luv Company, the chopping knife basket was selected as a global luxury product by the Korea Institute of Design Promotion. Moreover, in 2020, a dedicated R&D department was opened to accelerate product design. I Luv Company is actively working as it supplies to large-scale marts in Korea such as E-Mart, Lotte Mart, Nonghyup Distribution, E-Land Retail, GS Retail, Mega Mart, Seowon Distribution, etc.

I Luv Company has its own kitchenware brand, Aerang Cook. Aerang Cook is attracting attention by housewives with the theme of adding love to cooking by combining a Chinese character, “Ae,” which means love and Korean “rang,” and English, “cooking”.

I Luv Company has exported its products to Kenya, and is preparing to export to Brazil, Indonesia, Vietnam and Malaysia. As it entered the US online market Amazon and Southeast Asian market Shopi, it promoted the products of the brand Aerang Cook and went on export. In addition, overseas buyers who prefer Korean products will supply products to overseas buyers through ODM orders.

Taking this opportunity, Ji-yoon Seong, CEO of I Luv Company, said that it plans to introduce kitchenware that consumers can trust and use safely, and that it plans to promote and export Aerang Cook products, I Luv Company’s brand, to 40 countries.

Media Contact
Company Name: I luv company
Contact Person: Chang yoon Lee
Email: Send Email
Phone: +82 10 5060 6406
Country: South Korea
Website: https://www.gobizkorea.com/user/goods/frontGoodsDetail.do?goods_no=GS2020072094024&ctgryCode=S0900200040000&upperCode=M0900200000000&goodsNms=Silicone-Wide-Turner&skwanSn=&speclKwanId=SPCCD0000624

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