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Shotoflight

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  1. Number 2!! http://www.bbc.co.uk/news/business-29174074 Researchers at comparison website MoneySuperMarket examined house prices, rental costs, salaries, unemployment rates, and life satisfaction. Cardiff came top of 12 cities, having scored well on all factors apart from salaries. It had the lowest cost of living, at £359 per week. It also had one of the lowest unemployment rates, at 8.1%. Residents have also been feeling significantly better off over the last year, with disposable incomes growing by 3.7%, said the comparison website. Cardiff replaces Bristol, which came top of the table last year. Living costs in Bristol rose to £430 a week, while growth in disposable incomes fell from 3.3% in 2013 to 2.8% in 2014. Belfast and Bradford both saw big improvements, rising to second and third in the table.
  2. Need help to welch on your debts? Sure, why wouldn't you? Debt gurus vow to help you navigate way out of the redhttp://www.belfasttelegraph.co.uk/business/news/debt-gurus-vow-to-help-you-navigate-way-out-of-the-red-30580264.html In one case, a debtor who owed a Northern Ireland bank £292,000 was able to sell an investment property worth £120,000 and pay back £3,650 to the bank, which resulted in £168,000 of owed money being written off. Mr Devine said that even after six years of the economic crisis, there was still more pain to come. "There are thousands more properties which will end up in negative equity and there will be many more people who will need help," he added. "It's now very clear that the Bank of England is close to increasing interest rates, and some people will be pushed over the edge through increased monthly outgoings. Individual and corporate debt must be dealt with in a more understanding way."
  3. Danske Bank closing branches in Kircubbin, Lisnaskea and east Belfasthttp://www.bbc.co.uk/news/uk-northern-ireland-29174864 Meanwhile, First Trust Bank said it is to close two branches by 5 December. Its Coalisland, County Tyrone, branch customers will transfer to nearby Dungannon, while customers of the Carrickfergus, County Antrim, branch will transfer to Glengormley.
  4. Bank of England boss: interest rates likely to rise months before wages dohttp://www.theguardian.com/business/2014/sep/09/bank-of-england-interest-rates-rise-wages-mark-carney-tuc The Bank of England's governor, Mark Carney, has warned trade union members that they face higher interest rates next spring before they receive rises in real wages. Speaking at the annual meeting of the Trades Union Congress on Tuesday, Carney said interest rates could start to climb from their record low of 0.5% in early 2015, while above-inflation pay rises were not expected before summer at the earliest.
  5. Bombardier cutting jobs in Belfasthttp://www.bbc.co.uk/news/uk-northern-ireland-29140990 Bombardier in Belfast is planning to cut up to 390 jobs as a result of a company restructuring. The firm will be cutting 300 temporary and contract jobs, and is seeking 90 redundancies from its permanent workforce.
  6. Forty-year mortgages tempt first-time buyers on to the property ladder despite high costs (UK/Aug)http://www.independent.co.uk/money/mortgages/fortyyear-mortgages-tempt-firsttime-buyers-on-to-the-property-ladder-despite-high-costs-9701798.html
  7. NI's economy has slowed down but 'remains on track', according to Ulster Bankhttp://www.bbc.co.uk/news/uk-northern-ireland-29087417 The recovery of Northern Ireland's private sector has slowed down but "remains on track", according to data provided by the Ulster Bank. It said in August, firms had their 14th successive month of growth in orders, output and employment. But its chief economist Richard Ramsey said the pace of the recovery had slipped to its "weakest" since March. "As the recovery continues, growth rates are anticipated to moderate to more normal levels."
  8. More people left Northern Ireland than came to live herehttp://www.bbc.co.uk/news/uk-northern-ireland-28974369 More people left Northern Ireland than came to live in it over the past year, according to the latest official estimates. They show that from mid-2012 to mid-2013 there was an inflow of 23,100 people while 25,438 left. That gives a net international emigration figure of 2,338 and is the third year in a row of net emigration. Most of those leaving were aged between 25 and 44. By contrast, net migration into the UK totalled 243,000 in the year to March, up from 175,000 in the previous 12 months. The Office for National Statistics (ONS) said the increase in migration was "statistically significant". EU citizens accounted for two-thirds of the immigration increase, the ONS said. During Northern Ireland's economic boom years there was annual net immigration which peaked at almost 11,000 in 2006/07. Between 2004 and 2013 there was estimated net immigration of just over 30,000 people. Dungannon and Craigavon council areas saw the biggest inflows, accounting for more than a third of net immigration in that time.
  9. Does the rise house prices mean we are headed for another property bubble?http://www.irishexaminer.com/analysis/does-the-rise-house-prices-mean-we-are-headed-for-another-property-bubble-285186.html “The last bubble was created by access to credit, every man and his dog could get a 100% mortgage. But now it’s about supply, and in a specific area,” Mr Harte said.
  10. Signs of hope for Northern Ireland http://www.mortgagestrategy.co.uk/news-and-features/sectors/products/products-features/signs-of-hope-for-northern-ireland/2012968.article Northern Ireland house prices now stand at 50 per cent of their 2007 peak level. Negative equity affects 41 per cent of borrowers and Northern Ireland has the UK’s highest level of buy-to-let arrears. Economic recovery is stagnant, with 2013 median gross weekly earnings of full-time workers the lowest in the UK.
  11. Nice enough not to repay £11,000,000 of debt.
  12. Brake on car sales may signal an end to Northern Ireland spending recovery http://www.belfasttelegraph.co.uk/business/news/brake-on-car-sales-may-signal-an-end-to-northern-ireland-spending-recovery-30562639.html
  13. First-time buyers helping to rebuild Northern Ireland housing market Renewed confidence in the housing market has turned a generation of renters and 'boomerangs' into first-time buyers. Stephanie Bell hears three purchasers' experiences of getting on the first rung of the property ladderhttp://www.belfasttelegraph.co.uk/life/features/firsttime-buyers-helping-to-rebuild-northern-ireland-housing-market-30565644.html
  14. 36% lack basic necessities: Reporthttp://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/36-lack-basic-necessities-report-30536266.html More than a quarter of adults in Northern Ireland live without basic necessities like food, heat or clothing, research on poverty has revealed.The amount of people who suffer similar multiple deprivation soars to 36% if they personally experienced violent events, threats and intimidation during the Troubles. The alarming figures were discovered in the largest study of its kind ever carried out in the UK which examined how a lack of money is impacting sections of society.
  15. BT warns it will increase phone bills by 6.5%http://www.bbc.co.uk/news/business-28902300 BT has warned millions of customers it is increasing its prices by up to 6.5% from December this year. It will increase the line rental for direct debit customers by 6.25% to £16.99, and the rate for calling UK landlines by 6.44%. The set-up fee for landline calls, residential calls, to the speaking clock and call return charges will also increase for some or all customers. But BT said it had added "extra money-saving options" for poorer customers.
  16. Banned Northern Ireland company directors had debts of £2.5mhttp://www.belfasttelegraph.co.uk/business/news/banned-northern-ireland-company-directors-had-debts-of-25m-30527286.html
  17. Self-employment in UK at highest level since records began UKCritics say fact that 15% of workforce is self-employed is driving lower pay and retirement income and eroding job security and tax revenue http://www.theguardian.com/uk-news/2014/aug/20/self-employment-uk-highest-level Britain's deepest postwar recession has led to record numbers of self-employed people, who are earning lower wages and working longer hours than other workers, a study suggests. Self-employment in the UK is at its highest level since records began almost 40 years ago, according to a report by the Office for National Statistics, with taxi-driving, construction and carpentry among the most common jobs. There are 4.6 million people working for themselves, with the proportion of the total workforce self-employed at 15% compared with 13% in 2008, and 8.7% in 1975. Fewer people left self-employment over the last five years than at any period in the last 20 years, with the ONS suggesting that they might have struggled to find an alternative job during the downturn. It also pointed to the increasing number of people choosing to work for themselves beyond the state pension age of 65. Frances O'Grady, the TUC general secretary, said: "It's great that older people are using self-employment to stay working and earning as they approach and even pass their state pension age, even if many are doing this because they can't afford to retire. But it's worrying that much of the recent increase is due, as the ONS says, to the limited opportunities for people to move out of self-employment." Self-employed people have on average experienced a 22% fall in real pay since 2008-09, according to the ONS. O'Grady said Britain's self-employed had been the hardest hit by the prolonged pay squeeze, with average earnings of £207 a week – less than half that of employees – and with no sick or holiday pay, and no employer to contribute towards their pension. She said: "Self-employment appears to be a key factor in the UK economy's shift towards low-paid work. Many people want to work for themselves. But the growth in self-employment is reducing people's pay, job security and retirement income – and is likely to be reducing the government's tax take, too."
  18. Thanks to Help to Buy, builders are the new bankershttp://www.independent.co.uk/news/business/comment/thanks-to-help-to-buy-builders-are-the-new-bankers-9679820.html
  19. Surely most people spend money when moving house whether to make it 'habitable' or 'comfortable/personalised', resale or new. Does the data need to capture this precisely? What % of auction properties would be trashed and needing £30k spent on them and what % would this represent then in the overall data?
  20. Finance Minister 'encouraged' by rising house prices http://www.bbc.co.uk/news/uk-northern-ireland-28866859 Apologies - beaten to it!!!!! Great minds etc.
  21. 4% 2nd Q, 10% YOY, sales up 25% YOY - Prices now 1% above 2005 http://www.nisra.gov.uk/housepriceindex/NI_RPPI_Statistical_Report_Q2_2014.pdf
  22. Ghost estate comes to life - no deposit required & co-ownership. http://www.propertypal.com/the-killard-17-quoile-crescent-downpatrick/290574
  23. UK inflation falls to 1.6% from 1.9%http://www.bbc.co.uk/news/business-28850438 RPI still sticky at 2.5%, though I note petrol down another couple of pence, presumably heating oil, car insurance claimed to be reducing and £5 off the driving theory test in NI! The UK inflation rate fell more than expected in July as the cost of clothing, footwear, food and non-alcoholic drinks eased. The Office for National Statistics (ONS) said Consumer Price Index (CPI) inflation fell to 1.6% from 1.9% a month earlier. But CPI remains well above average wages which grew by just 0.6% in the three months to June. The Retail Prices Index, which includes housing costs, fell to 2.5% from 2.6%.
  24. ONS + 4.9%. http://www.bbc.co.uk/news/business-28850292 Prices were up in every region, including Northern Ireland, where they rose by 4.9%.
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