Brickonomics

Are expectations of inflation too low?

Inflation is now on the way up. That was to be expected. As Mervyn King, Governor of the Bank of England, keeps reminding us, we should expect inflation to be very volatile for some while. But, is it me or...

Posted by Brian on November 18, 2009 8:59 AM

Orders figures continue to point to a rougher road ahead

For those poring over the latest new orders figures released today to find guidance on the future of construction activity I suspect there is something for the optimists, but rather more for the pessimists. It must be said that trying...

Posted by Brian on November 5, 2009 12:44 PM

Is this deflation I see before me? Why prices are rising faster than the inflation rate

I am not sure about you, but I sometimes have to go to the back numbers to make sense of the statistics that get thrown at me. I have been for some months a bit curious as to why the...

Posted by Brian on September 15, 2009 11:44 AM

Recession deeper than we thought says Bank of England

The recession is proving to be deeper than the Bank of England expected when it previous produced an inflation report in May. That in part explains the extension of the quantitative easing programme that rather surprised many commentators. I have...

Posted by Brian on August 12, 2009 11:44 AM

Inflation fell more than expected in April

The rate of inflation measured on the consumer prices index (CPI) fell sharply in April from 2.9% to 2.4%. This should be seen as good news for those operating in the housing market as a persistence of over target inflation...

Posted by Brian on May 19, 2009 9:45 AM

If it's growth you want, start looking again at house building

I received a bit of a teasing prod this morning from my good friend the editor of CJ, Aaron Morby, when he rang me up to quiz me on house building targets. "Don't you think we are seeing a recovery...

Posted by Brian on May 13, 2009 5:21 PM

Mortgage lending a bit better but still pretty much on the floor

The Bank of England's release on mortgage lending does show a futher slight rise for March. The figures show mortgage approvals for house purchases rose to 39,230 in March from 37,716 in February. And this puts the level of approvals...

Posted by Brian on May 1, 2009 10:39 AM

Inflation down but far from out, despite cheaper cucumbers

For the first time in a year the annual rate of inflation measured on the CPI index dropped below 3%, dropping from 3.2% to 2.9%. The main contributor to the fall in inflation was lower energy costs, which contributed to...

Posted by Brian on April 21, 2009 11:11 AM

Recovery soon for construction?

The torrent of economic good news gushing from economists and think tanks is almost overwhelming. Hell's teeth it is a boost to confidence. But does this mean that the recovery is in sight for construction?...

Posted by Brian on April 20, 2009 1:45 PM

Home sellers push up asking prices

The latest figures from the property website Rightmove suggest that sellers are feeling a bit more confident and are pushing up their asking prices. Rightmove puts the 1.8% rise in asking prices in April on top of the 0.9% rise...

Posted by Brian on April 20, 2009 11:56 AM

Nationwide springs pleasant surprise for house sellers and builders

The latest analysis by the Nationwide of house prices suggests that this spring has brought with it an unexpected 0.9% bounce in the price of houses. This will add some more cheer to those currently enjoying the blue skies, sunshine...

Posted by Brian on April 2, 2009 9:49 AM

Homeowners turn their backs on using their homes as a bank

I was intrigued by the response from the surveyors' body RICS to the latest Bank of England figures for Housing Equity Withdrawal. The figures show a continuation in the rapid repayment of housing debt, as the graph below shows, and...

Posted by Brian on April 1, 2009 5:38 PM

RICS report stamps on signs of green shoots in the housing market

For all the excitement created by the Halifax upward blip in house prices in January it now looks increasingly like a freak result, at least that is what the latest housing market survey from the surveyors' body RICS would suggest....

Posted by Brian on February 10, 2009 9:45 AM

Official figures suggest construction is faring better than most - really?

The appalling GDP figures released today suggest construction has got off relatively lightly so far - odd don't you think? The economy took its biggest nosedive since mid 1980 in the final quarter of last year, a drop of 1.5%....

Posted by Brian on January 23, 2009 10:29 AM

RICS pitch black news on commercial property - prices to fall more than in 1990s

If you like your news black like your coffee, then the latest survey of the commercial property forecast from the surveyors' body RICS will have you putting the kettle on if not reaching for the drinks cabinet. Expect property prices...

Posted by Brian on December 8, 2008 9:36 AM

Why record low interest rates will fail to ease house building woes

The Bank of England's decision to cut interest rates to just 2% today, the lowest in its 300 plus years, will come as a relief to some. But in reality the Bank is near powerless to influence the direction of...

Posted by Brian on December 4, 2008 1:47 PM

Construction's only salvation is for the Government to spend big

A cut in interest rates by the Bank of England at noon this Thursday is being pencilled in by most analysts and economists, the only real question appears to be how big the cut will be. This may help the...

Posted by Brian on December 2, 2008 12:14 PM

Asking prices crumble as hope of housing market recovery fades

For those who may have held lingering hopes of a lift in the housing market after the various interventions by the Government and the Bank of England of late will be disappointed by the message coming from the latest Rightmove...

Posted by Brian on November 17, 2008 10:46 AM

When even the good news is bad news you know it's time to take cover

A massive leap in retail sales. Excellent news surely. But no. Even if you are in the shopfitting business, this is does not make comfortable reading. On figures like these the markets are pricing in interest rate rises. This reaction...

Posted by Brian on June 19, 2008 10:43 AM

Mervyn King warns banks on binge drinking

I have a lot of time for Mervyn King's comments. Here's one from today that I think is worth a look. It is from his speech to the British Bankers' Association on "Banking and the Bank of England". "It is...

Posted by Brian on June 10, 2008 1:48 PM