View more on these topics

London will lead recovery

Are these green shoots or is it just the annual spring bounce? With Easter just around the corner, the pick-up in market activity is at least encouraging.

Data from the Bank of England shows the number of loans approved for house purchase in February was higher than in January and above the previous six-month average.

Also, latest figures from Nationwide show the average house price increased last month from 147,000 in February to 150,000.

These are encouraging signs.

Of course, we’re still not even touching the sides compared with market activity in previous recessions but then this is not your normal recession.

If previous recessions can be described as V-shaped then this one looks likely to be more of a U-shape – and a long U-shape at that, with the UK expected to flatline into 2010 before we see a sustainable recovery.

London will be the housing market to watch when we hit rock bottom. It was last to see falling prices and will be first to show signs of recovery.

Recommended

Time to expose the silent scandal of actuarial blunders

In my 26 years in this industry I have worked through some tough periods including a couple of recessions and several wars. But one ongoing crisis has gone largely unnoticed – that of actuarial blunders.

Woolwich boosts daily tranche level

Woolwich has increased the level of tranche funding available through its fund booking line to an estimated daily tranche of £65m.

10 September thumbnail

Johnson Fleming set to hold auto-enrolment support webinar

Two years since the process of auto-enrolment began, the looming re-enrolment deadline provides the perfect opportunity to assess whether the support you have in place, which may well have been hastily selected at the start, is fit for purpose. Johnson Fleming is holding a webinar on 10 September at 11:00 to discover the key issues and concerns you should consider when thinking about your current support options.

Newsletter

News and expert analysis straight to your inbox

Sign up