Home 

‘Brexit fatigue’ spurs buying and selling of London homes, leading to asking prices posting their first annual increase in two years

Asking prices for London homes showed their first annual increase since 2017 this month, as the Brexit-battered market started to show signs of life.New seller prices were up 1.3 per cent from a year earlier, property website Rightmove Plc said in a report published Monday. They eased just 0.1 per cent on the month, the smallest decline for any August since 2006.Rightmove said a shortage of supply is helping to underpin prices, with the number of new sellers down almost 11 per cent on the year… Source link

Read More
Home 

Cities in trouble: London will weather a no-deal Brexit but can Hong Kong survive its political crisis?

The economy has begun to shrink. Commercial property transaction volumes are plummeting. Office leasing activity has weakened significantly since last year. Most worryingly, the institutional underpinnings of the real estate investment market have been thrown into question by an unprecedented threat to the status of one of the world’s leading financial centres. If this sounds like the predicament faced by Hong Kong, that is because it is. Yet it also happens to be the one confronted by Britain… Source link

Read More
Home 

Donald Trump’s war on climate science, Brexit and Hong Kong’s housing disaster are what happens when governments disregard evidence

After Donald Trump’s election as president in November 2016, Columbia Law School’s “Silencing Science Tracker” began compiling reports of federal, state, and local government efforts to suppress scientific research, and has documented hundreds of such incidents, largely the suppression of information about climate change. Photo: Greenpeace Source link

Read More
Home 

Boris Johnson’s brother in Hong Kong backs his Brexit strategy as he plans UK hotel fund targeting Asian investors

Boris Johnson’s “do-or-die” strategy to take Britain out of the European Union could work, said his youngest half-brother Max, who plans to launch a £1 billion (US$1.2 billion) real estate fund targeting Asian investors.“I am confident that the prime minister can get [it] done, because he has true determination and conviction to deliver Brexit on or before October 31,” the Hong Kong-based banker-turned-entrepreneur said in an interview. “If he can’t do it, I don’t know who can.”“I would expect… Source link

Read More
Home 

UK builders envision skills shortage when foreign labour takes a hike after Brexit

Monika Slowikowska is incredulous when people tell her foreigners will still want to come to the UK after the country leaves the European Union.As a Pole who owns a London construction company, Slowikowska is less sanguine. She fears for an industry facing a Brexit immigration clampdown, including high salary requirements for visas and restrictions on low-skilled labour.“We believe that we’re still a paradise destination,” said Slowikowska, who has lived in the UK for 20 years and employs… Source link

Read More
Home 

With no clear path for Brexit, expect more volatility in UK markets

The United Kingdom’s newly minted Prime Minister Boris Johnson has stepped up his “no deal” rhetoric, claiming he will not meet with EU leaders unless they agree to change key aspects of Britain’s divorce deal and sending the British pound spiralling downwards.Regarding his purportedly hardline stance, Johnson’s exact words were “no ifs, no buts”. This position has prompted market concerns that the UK economy could face significant disruption in the event of a no-deal Brexit. As of writing, the… Source link

Read More
Home 

With Brexit, Iran tensions and likely global financial instability, the US dollar is far from down and out

Currency investors and traders have some tough decisions to make in the weeks ahead – the most pressing is whether they are intrinsically US dollar bulls or bears. The global economic landscape is changing, monetary policy expectations are up in the air and opinion is becoming extremely divided on the currency’s outlook.The dollar is the all-important driver of investor risk-perceptions and getting it right will be down to successfully negotiating some tricky upcoming hazards. With the world in… Source link

Read More
Home 

Why a no-deal Brexit is a big deal for Britain and the rest of the world

As the British Conservative Party leadership race enters its final few days, Boris Johnson remains the overwhelming favourite to become prime minister this week. The clash between Johnson and Jeremy Hunt has seen a no-deal Brexit assume growing likelihood, despite the fact that this disorderly outcome is still widely misunderstood. In trading last week, markets were rattled following Brexit remarks from both Johnson and Hunt. With the pound battered in foreign exchange markets, the UK currency… Source link

Read More
Home 

From Donald Trump to Brexit and Europe’s new right, populism is driven by both cultural and economic anxiety

Is it culture or economics? That question frames much of the debate about contemporary populism. Are Donald Trump’s presidency, Brexit and the rise of right-wing nativist political parties in continental Europe the consequence of a deepening rift in values between social conservatives and social liberals, with the former having thrown their support behind xenophobic, ethno-nationalist, authoritarian politicians? Or do they reflect many voters’ economic anxiety and insecurity, fuelled by… Source link

Read More
Home 

London’s office sector at a discount thanks to Brexit woes, weakening sterling

Hong Kong investors looking to leverage opportunities in London during a period of currency weakness might want to take a closer look at the office market, where solid occupier rates indicate solid returns even as political uncertainty lingers, according to experts.International investors appear to be in a wait-and-see mode, having taken to the sidelines, as they gauge the political outlook three years after the Brexit referendum, according to consultancy Knight Frank.“Future transaction levels… Source link

Read More