Wages continue to outstrip inflation
The latest data from the ONS (Office for National Statistics) indicates that at 3.2% wage growth continues to outpace inflation, positive news for household finances.
Average weekly pay (excluding bonuses) reached £512 in the three months to December. Adjusting for inflation (1.3%), this is the highest level since March 2008, pre the global economic crisis.
Although inflation has risen to a six-month high in January of 1.8%, this is still below the Bank of England’s 2% target and below current wage growth. The latest inflation figure mean it is likely interest rates will be kept at 0.75%.
The rise in inflation is mainly due to the higher cost at the fuel pump, growth in house prices and the impact of no change in energy prices compared to a fall last year following the introduction of the energy price cap.
Garden, garden, garden!
7th July 2021
With summer now officially begun, gardens and outside space remain priorities on buyer wish lists. Nearly two-thirds of residents wouldn’t…
Tenant statistics
7th July 2021
Across the UK, families comprise a fifth (21%) of all privately rented homes with 39% occupied by single people and…
+1 million new homes
7th July 2021
Over 1.3 million new dwellings have been added to the housing stock across England and Wales over the past 5…
