UK housing market remains in the doldrums — survey

Britain’s housing market has cooled since the 2016 Brexit vote which led to a rise in overall inflation and increased uncertainty among investors. (Reuters)
Updated 12 July 2018
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UK housing market remains in the doldrums — survey

LONDON: British house prices remained flat in June and the market was likely to stay sluggish in the coming months despite more properties being put up for sale, a surveyors group said on Thursday.
The Royal Institution of Chartered Surveyors’ (RICS) house price balance rose to +2 from -2 in May.
A Reuters poll of economists had pointed to a fall of -3 in June but RICS said the overall picture remained one of flat price growth and respondents taking part in the survey did not anticipate much change in the coming three months.
Britain’s housing market has cooled since the 2016 Brexit vote which led to a rise in overall inflation and increased uncertainty among investors.
“For the second month in a row, new instructions have risen, with 10 percent more respondents seeing an increase in the flow of properties being put up for sale,” RICS said.
“However, with average stocks remaining close to historic lows at 43 it would be too early to suggest that this issue is lessening as an obstacle.”
Looking further ahead, London’s housing market was likely to remain a weak spot — prices were not expected to rise in the capital and the neighboring south east region, in contrast to much of the rest of the country.


Boeing kickstarts Farnborough Airshow with order for jets worth $4.7bn

Updated 16 July 2018
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Boeing kickstarts Farnborough Airshow with order for jets worth $4.7bn

BENGALURU: Boeing Co. said on Monday it won an order for 14 freight aircraft for a value of $4.7 billion, firing the opening salvo against rival Airbus in a contest for business on day one of the Farnborough Airshow.
Logistics group DHL placed the order for the 777 freighters and acquired purchase rights for seven more freighters, the US planemaker said.
Boeing and Airbus are expected to make several announcements on the first day of the July 16-22 event, as they seek to bolster their already bulging order books.
The latest order follows Boeing’s deal with FedEx Corp. unit FedEx Express in June for 24 medium and large freighters.
While global trade tensions are escalating, the industry is counting on e-commerce continuing to soar, with more people buying products online for quick delivery.
Air freight demand is expected to increase 4 percent this year, according to the International Air Transport Association (IATA).
Last year was the best for cargo since 2010, with traffic growth more than doubling to 9 percent, three times the growth in capacity.
Boeing’s latest order will double the size of DHL’s global 777 fleet, the companies said. The delivery of the first four planes is expected to be completed in 2019, DHL said in a separate statement.
The Farnborough Airshow is the industry’s biggest event this year. It alternates with the Paris Airshow and, collectively, they account for over a quarter of industry order intake each year.