UK motor insurance premiums increase yet again
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK.
All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher.
In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
Mortgage approvals fall for first time in a year
The number of mortgages approvals last month fell from 60,045 in November to 59,023 in December which is the first fall in over 12 months. Analysts had expected December mortgage approvals to increase to 62,000 although we also saw a reduction in mortgage lending which fell from £1.551 billion in November to £1.165 billion in December. While pessimists will argue this shows the fragility of the...Read More
One in five shops empty in north of England
04/02/2015 More than one in five shops in northern towns in the UK are empty, according to research from the Local Data Company. This compares to one in ten shops in the south of the UK, highlighting the growing north/south divide. Despite the regional divide widening, overall there has been a “market improvement” in the number of empty shops. The average vacancy rate was 13.3% in the l...Read More
UK inflation rate remains at 0%
14/04/2015 The UKs inflation rate stayed at 0% in March, according to official figures from the Office of National Statistics. The 0% inflation rate means that the cost of living is now roughly the same as it was in March 2014. The Consumer Price Index (CPI), which measures inflation, recorded an unchanged rate from February thanks to a rise in petrol prices. Food prices fell by 3.2% annual...Read More
Can the Conservatives afford not to increase taxes?
Ken Clarke has today opened a debate regarding taxation and the potential increase of both income tax and VAT in the short term. While there has been no official comment from the leader of the Conservative Party, David Cameron, there is no doubt that any party in power after the next general election will need to increase taxes across the board. We will also see a significant reduction in public s...Read More
Why Are Overseas Investors Looking At The UK Property Market
The last few weeks has seen an increase in demand from overseas property investors for assets in the UK, with investors from Dubai very much at the front of the queue. So what is it about UK property which is attracting this overseas interest and will it continue?
Places like London have always held a special place in the minds and hearts of many in the property market. It offers...