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Housing prices in the poshest districts of London fell by 4.6% to the lowest level since 2013, according to Knight Frank. Against the backdrop of political chaos in the country, sales and real estate prices fell in the second half of 2018. In the fourth quarter of the year, when the discussion of Brexit conditions between Teresa May and the EU authorities took place, prices for luxury housing fell by 1.5%. In the UK, the tax rules have changed. The tax on the most expensive real estate soared to 15% of the cost. Tax increases along with uncertain political prospects for the country weakened the demand for prestigious housing. Knight Frank spokesman, Tom Bill, considers the housing market downturn in Britain to be a consequence of the political situation in the country over the past six months. The cost of real estate in central London fell at the same pace as the cost of houses and apartments in the poshest districts. Excess supply is holding back prices - their level has fallen to a five-year low.
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The ...
China saw its factory gate data for June perform better than expected on Thursday morning. However, persistent deflation indicated that the impact from the COVID-19 pandemic still continues to linger. The data, released by the National Bureau ...
The dollar rose against a basket of currencies in overnight trading but slid in London trading. This came after Friday’s data on U.S. employment prompted a rally. A recovery in U.S. employment data showed signs of a faster economic revival. ...
On Tuesday, American multinational investment bank Morgan Stanley (MS) raised its year-end Brent price forecast to $40 per barrel due to tighter oil markets. The financial services company expects balance in worldwide oil demand and supply ...
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