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UK House Prices Rise Amid Regional Divide, with Modest Increases Expected in 2025
House prices across the UK have risen over the past year, with every region seeing an increase in average property prices, according to new data from property search website Zoopla. Over the past 12 months, prices have climbed by 1.5%, and experts forecast further growth in 2025, although recent budget changes may exert some dampening effects.
The rise in prices has not been uniform, with a clear north-south divide emerging. Northern regions, which are generally more affordable, have seen sharper price increases compared to areas around London, where housing prices are higher and more sensitive to interest rate fluctuations. For example, in Northern Ireland, house prices have surged by 6.3% from last year, while the southeast of England has experienced a modest increase of just 0.3%.
Looking ahead, Zoopla forecasts a 2.5% increase in house prices for 2025, in line with expectations from other industry analysts. Richard Donnell, executive director at Zoopla, highlighted that stronger-than-expected income growth this year, coupled with a retreat in mortgage rates, has improved affordability for potential buyers.
Additionally, Donnell predicts that 2025 will see 1.15 million housing transactions, marking a 5% increase compared to this year. However, affordability pressures are expected to persist, particularly in London and the southeast, where markets are likely to continue lagging behind their northern counterparts.
Despite the overall positive outlook, Donnell noted that his forecasts would have been more optimistic if not for the upcoming “budget changes,” which he believes will likely act as a drag on price inflation. Starting in April 2025, buyers will face higher stamp duty rates, particularly affecting those in higher price brackets. Zoopla estimates that approximately half of today’s buyers pay stamp duty, but this figure is set to rise to over 80% next spring. For first-time buyers, the proportion expected to pay stamp duty is likely to double to 40%.
Zoopla’s data also shows that the housing market is more active than usual as buyers rush to complete transactions before these tax changes come into effect. The number of sales agreed is 19% higher than this time last year, and buyer demand has increased by 25%.
As the market heads into 2025, experts suggest that while house prices will continue to rise, affordability challenges remain, especially in the south of England, where higher costs may deter some buyers. The impact of the upcoming stamp duty changes will likely shape the market as the year progresses.
News
Amazon MGM Takes Creative Reins of James Bond Franchise Amid Casting Buzz
In a landmark shift for the James Bond franchise, Amazon MGM has partnered with long-time producers Michael G. Wilson and Barbara Broccoli to oversee the future of 007. While all three entities retain co-ownership of the Bond intellectual property, Amazon MGM will now lead creative decisions, marking a significant departure from its previously limited role.
The move follows Amazon’s $8.5 billion acquisition of MGM in 2021, which granted it partial ownership but little say in the franchise’s artistic direction. With Daniel Craig’s departure after 2021’s No Time to Die, speculation about the next James Bond has intensified. Jeff Bezos, Amazon’s founder and executive chairman, fueled the debate by asking his followers on social media platform X, “Who’d you pick as the next Bond?” The overwhelming response highlighted British actor Henry Cavill as a fan favorite. Known for roles in Superman, The Witcher, and Mission: Impossible – Fallout, Cavill previously auditioned for the role in 2006’s Casino Royale but lost to Daniel Craig. Director Martin Campbell praised Cavill’s audition but deemed him too young at the time. Now in his early forties, Cavill’s age could be a factor if long-term commitments are considered.
Daniel Craig acknowledged Wilson and Broccoli’s contributions, telling Variety, “My respect, admiration, and love for Barbara and Michael remain constant and undiminished.” With Wilson stepping back and Broccoli expected to reduce her involvement, Amazon MGM gains greater creative control, raising questions about the franchise’s future direction.
Fan speculation continues to swirl around Cavill, alongside other contenders like Taron Egerton, Tom Hardy, and Idris Elba. While Amazon MGM has yet to announce a timeline or reveal casting decisions, industry watchers anticipate a new era that may extend beyond traditional films, potentially including spin-offs, series, and streaming exclusives. As the studio reshapes Bond’s future, audiences worldwide eagerly await the next chapter in the iconic spy saga.
News
Global Hiring Slump Marks Longest Downturn in Decades, Says Hays CEO
The global job market is experiencing its longest downturn in over 20 years, according to Dirk Hahn, CEO of Hays, Britain’s largest listed recruitment firm. Hahn attributes the slump to ongoing macroeconomic uncertainty, which is deterring both employers and job seekers from making moves.
Hays, which employs nearly 7,000 consultants worldwide, reported weaker demand for temporary workers in early 2025, while demand for permanent roles—particularly in Europe—remains sluggish following a pre-Christmas dip. Countries such as France, the UK, Ireland, and Germany, Hays’s largest market, are feeling the pressure most acutely.
In the six months leading up to December, Hays reported a 15% drop in group net fees, falling to £496 million from £583.3 million the previous year. Pre-tax profits fell sharply by 67% to £9.1 million, compared to £27.6 million during the same period the prior year. Hays’s share price, already down 25% over the past year, dipped a further 1.8% on Thursday, closing at 71¾p and placing the company’s market value just below £1.2 billion. Despite declining profits, the company will maintain its interim dividend at 0.95p per share.
While the broader UK labor market has shown resilience with limited mass layoffs, businesses remain cautious about expanding their workforce. “Most companies have enough work to retain their current staff, but they’re not looking to increase headcount,” said James Hilton, Hays’s chief financial officer. “Many employees who received pay increases in recent years are not seeking new roles, creating a stalemate. However, over time, people will seek promotions or fresh challenges.”
Recruiters had anticipated a market recovery earlier this year, but Hahn now warns that the rebound may not materialize until 2026. In the meantime, Hays is focusing on its technology recruitment division—its most profitable segment—as it navigates the prolonged global hiring slowdown.
News
UK Government Reports Lower-Than-Expected Budget Surplus in January
The UK government reported a budget surplus of £15.4 billion in January, falling short of economists’ forecasts of £21 billion and the £19 billion predicted by the Office for Budget Responsibility (OBR). Despite January typically seeing a boost from self-assessment tax payments, the lower-than-expected figure has increased total borrowing for the financial year to £118.2 billion—over £11 billion more than the previous year.
The government’s debt-to-GDP ratio now stands at 95.3 per cent, a level last observed in the 1960s. With the OBR set to release updated forecasts on March 26, there are concerns that the government may struggle to meet its goal of reducing the debt ratio by 2029. This could lead to potential spending cuts or tax hikes in the autumn budget.
Reduced debt-servicing costs helped boost January’s surplus, dropping from £9 billion in December to £6.5 billion. However, this was partially offset by a £6 billion one-off expense related to the government’s repurchase of military housing from private firm Annington.
Darren Jones, chief secretary to the Treasury, emphasized the government’s commitment to “economic stability and meeting our non-negotiable fiscal rules.” He also noted that a comprehensive spending review—the first of its kind in 17 years—is underway to ensure that public funds are used efficiently and aligned with national priorities.
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