The 7am Cut:
In the news this week: UK rents expected to continue to rise through 2024, inflation falls by more than expected to 3.4% and Sunak expects the UK economy is to ‘bounce back’ in 2024..
Inflation falls by more than expected to 3.4%
“Inflation fell to 3.4 per cent in February, figures released by the Office for National Statistics (ONS) show this morning. The consumer prices index (CPI) measure of inflation is down from 4 per cent in January and is at its lowest rate for over two years. Core inflation fell to 4.5 per cent, down from 5.1 per cent in January”…
– Callum Mason, iNews
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UK economy to ‘bounce back’ in 2024, says Sunak
“This year will “prove to be the year that the economy bounces back”, Rishi Sunak has told the BBC after figures showed inflation fell to its lowest level in almost two and half years”…
– Faisal Islam & Michael Race, BBC News
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UK rents expected to continue to rise through 2024
“The outlook for the UK private rented sector shows only minor change as we start the year, according to the latest Zoopla Rental Report, which believes that despite a general slowdown in the rapid price acceleration of the past three years, 2024 will still end with higher rents than where it started”..
– Eleanor Harvey, BuyAssociation
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Interest rates held: how could this affect property investment?
“This week we’ve had some major announcements relating to UK inflation and interest rates, both of which could have an impact on the property investment outlook.
The Bank of England announced that it would be holding its base rate once more at 5.25%, where it has remained since August 2023. The Office for National Statistics (ONS) also revealed that UK inflation fell to 3.4% in the year to February 2024, with prices rising at their lowest rate since September 2021”…
– Eleanor Harvey, BuyAssociation
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£140m Stockport Interchange opens
“The completion of the project, which includes a two-acre public park, has been hailed by the council’s leader as “a landmark day” in the town’s history. The £140m interchange project features 18 bus stands that will allow for 164 departures an hour.
The scheme also features Viaduct Park, which sits above the bus interchange, as well as a walking/cycling link connecting the site to the train station. Stockport Interchange was constructed on the site of the town’s former bus station and is aimed at making Stockport one of the best-connected places in Greater Manchester”…
– Dan Whelan, Place North West
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Where to buy a house in 2024 — the best places to invest in the UK
Liverpool’s waterfront is ranked as the number 1 place to invest in the UK.
“The Sunday Times has identified 25 locations in the UK that are improving the most. They are all on a strong upward curve. It isn’t just large-scale regeneration schemes that can turn a place’s fortunes around. The list includes places with improved transport links and new shops and restaurants, as well as the impact that arts, culture and entrepreneurial energy can have”…
– The Sunday Times
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