Chart of the Week: Sterling’s troubled path since the Brexit vote

first_imgSource: SchrodersHowever, while the currency’s weakness may have made travelling overseas more expensive for UK holidaymakers, it has provided a boost to many UK companies. More than two thirds of the revenues generated by FTSE All Share companies are generated overseas, according to Schroders.The UK-listed asset manager said the FTSE All Share index rose by 28.1% between 23 June 2016 and 15 June 2019. UK equity returns outstripped those of Japan, Europe and emerging markets indices in that period, Schroders’ data showed, but lagged behind the US and China.“The relatively stable global economic backdrop has been helpful,” Schroders stated in a commentary published earlier this week. “Global investors have bought into the so-called Goldilocks scenario: a ‘not too hot, not too cold’ combination of stable growth, benign inflation and low interest rates.“Support for the UK market and the economy came from the Bank of England, which has kept monetary policy loose, ensuring businesses and markets have access to funding.”How global markets have performed since the Brexit voteChart MakerHowever, with Brexit itself still unresolved, Schroders’ senior European economist Azad Zangana warned of “real risks” to the UK economy ahead.Economic growth “remains sluggish”, he said, and could be hampered further when companies seek to reduce the inventories they have built up in preparation for a ‘no-deal’ Brexit. Sunday 23 June marked three years since the UK voted to leave the European Union.While the method of exit is still uncertain, the impact on the UK’s currency is clear. In the space of those three years, sterling has fallen 14% against the dollar and 13% against the euro, according to Schroders.As of this morning, £1 is worth €1.12 and $1.27. On 24 June 2016, the day the referendum’s result was confirmed, these values stood at €1.23 and $1.37, according to Bloomberg data.This is marginally higher than the pound’s post-Brexit low point of €1.08 on 25 August 2017, shortly before the third round of negotiations between the UK and the EU began. Source: US State DepartmentBoris Johnson, the frontrunner for the next UK prime minister“The resignation of prime minister Theresa May has raised the risk of a no-deal Brexit,” Zangana added. “If the bookmakers’ favourite… Boris Johnson becomes the new prime minister, then the hard-line Brexiteer could take the UK out of the EU without a deal.“If this were to happen, we would anticipate the economy to slow and fall into recession around the turn of the year. While the Bank of England would probably cut interest rates eventually, the expected depreciation in the pound would cause inflation to spike.“The household sector has already run down its safety buffer in the form of its savings rate, therefore a contraction in demand is very likely.”last_img read more

The next big QLD building trend

first_img FOLLOW US ON FACEBOOK Metricon created a special arm to help homeowners navigate council approvals for multiple occupancy homes.Mr Ryan warned not all lots were suited to dual occupancy and navigating council zoning and town planning requirements could be tedious.“There are precincts where dual occupancy is appropriate and others where it is not,” he said. “DualOcc by Metricon is designed to assist people through that journey.” Sydney and Melbourne had led the trend out, he said, particularly off extended families and investors. Home designs have changed to take into account bigger households again.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoIn Queensland interest was likely to increase as land supply dwindled and councils looked to alternatives for high-rise apartments, he said.“Councils need to be looking or other options to bring more density because not everyone wants to live in a tower and not everyone wishes to live in a townhouse.”Mr Ryan said major benefits of dual occupancy included additional density, and potential extra income at a time when house prices in Brisbane were increasing. “A growing group now want to explore what development is possible on their existing land.“One of the major advantages of dual occupancy homes is the potential to make more income from a single land title.”Dual occupancy developments were classed as two or more homes on a single block of land.The developments could be multi-dwellings with one behind the other, a duplex, side-by-side attached dwellings, or a combination of all those. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 MORE: Robin Bailey lists Brisbane home Creating homes that accommodate multiple generations or families will become more important for Queenslanders, according to Metricon.“Often it’s people whose blocks are zoned for dual occupancy or who might be looking to maximise the yield of their lot.“In other cases, people might have owned a lot for a while and the zoning has now changed.“In many instances people are looking to stay in one part of the dual occupancy property and rent or sell the other.”center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:11Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:11 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen5 tips to style your home for sale01:12 Home building company Metricon is betting the next major trend in Queensland’s southeast corner will be dual occupancy homes.The next major home trend is being driven by house price rises, dwindling land supply, and buyers trying to make the most of their investment, according to a Queensland mega builder.Home building company Metricon is betting that dual occupancy homes will see the biggest demand going forward especially in South East Queensland. Sale of the century Wake up to ocean views Metricon’s Queensland general manager Peter Ryan said DualOcc — a specialist duplex and dual occupancy service — was created to simplify the approval and building process for property owners in Queensland and northern New South Wales.“We’ve seen a lot of requests for dual occupancy, particularly in areas like the Gold Coast and pockets of Moreton Shire,” he said.last_img read more

Bull Spends Day in Broward Neighborhood Before Capture

first_imgNo one was injured during the encounter, and officials are still unsure where exactly the bull came from. Residents in one South Florida city got quite a surprise this week, and it was (a) bull!It seems that a bull found a neighborhood he liked, and decided to spend the whole day there.According to Miami television station WSVN and the Broward Sheriff’s Office, that all came to an end around 11 p.m. Tuesday in Cooper City.WSVN reports that a resident’s Ring doorbell camera first noticed the animal’s presence at about 4 a.m. Tuesday.Homeowners first noticed the bull in their Trellises neighborhood that evening, but quick lost track and sight of him.Responding deputies later spotted the animal in the area of Embassy Drive and Southeast Lake Blvd., and called in an animal handler to remove him.last_img read more