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House prices rise defying forecasts of double-digit crash

House prices are on track to defy gloomy expectations of a double-digit drop this year. Prices unexpectedly increased in November, the second month in a row, as lower mortgage rates boosted buyer confidence amid a shortage of sellers. Homeowners saw the value of their property increase by 0.5pc in November compared to October, according to the Halifax house price index. You can read the full article...

What UK’s interest rate freeze means for mortgage borrowers

Home loans could be unlikely to fall by much in short term as Bank of England keeps fighting inflation. Mortgage borrowers will be able to breathe a sigh of relief after Thursday’s announcement that the Bank of England has decided to hold rates at 5.25% – but amid the good news was a hint that the cost of home loans may not fall much further. You can read the full article here. You can read the...

Nissan invests $1.4 bln to build two new EV models in Britain

Nissan said on Friday it would pump 1.12 billion pounds ($1.4 billion) into its British plant to build electric versions of two models, offering a boost to the country's auto industry and a prime minister desperate to attract foreign investment. The Japanese automaker said its plans for electric versions of the Qashqai and Juke, produced in Sunderland, northeast England, would require a total investment...

Average rent in Great Britain up by more than a quarter since start of Covid

Rise due to shortage of properties has been worsened by soaring interest rates, Savills finds Average private rents in Great Britain have soared by more than a quarter since the start of the Covid pandemic and will keep rising, according to an analysis. You can read the full article here. You can read the Turkish translation of this article in full at this...

House prices see biggest monthly rise for more than a year

House prices had the biggest monthly rise in October for more than a year, according to the Nationwide. However, they were still down sharply on a year ago, the UK's biggest building society said. You can read the full article here. You can read the Turkish translation of this article in full at this...

Mega 30-storey block of flats with children’s play area approved for Leeds

Plans to build a 30-storey block of flats near Leeds city centre, complete with a children’s play area and a gym, have been approved. Developers City Life Holdings will construct the block, which will include 345 apartments, on Springwell Road in Holbeck. You can read the full article here. You can read the Turkish translation of this article in full at this...

Leeds in top 10 most desirable cities to live in the UK based on Google searches

Leeds has been ranked in the top 10 most desirable cities to live in the UK, a new study has found.  According to the home insurance website Comparethemarket, the city is one of the most sought-after locations on Google by people looking to relocate. You can read the full article here. You can read the Turkish translation of this article in full at this...

Bank of England reverses from ‘catastrophic’ scenario

Bank of England Governor Andrew Bailey is expected to make 'u-turn' statements next week following his 'grossly exaggerated' forecasts for the UK economy's 2023 outlook. The Bank of England will publish its latest quarterly Monetary Policy Report on Thursday, setting out the projections used by interest rate policymakers to set interest rates. Bailey had warned in November that the country was at the...

Bank of England boss Andrew Bailey set to stage U-turn

Andrew Bailey will stage a humiliating U-turn next week as he is expected to row back on 'grossly exaggerated' forecasts about the UK's looming recession. You can read the full article here. You can read the Turkish translation of this article in full at this...

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