Your Friday Update
Where to invest $20m
3 minutes to read
Lockdowns and quarantines
Boris Johnson has ordered the reopening of the economy in England to resume, saying a rise in infections that prompted caution two weeks ago has now levelled off. That means trials at sporting events can go ahead and indoor theatre, music and performances can resume with socially distanced audiences. Officials will also impose a 14-day quarantine on all arrivals from France from Saturday, and it looks likely the same will apply to arrivals from the Netherlands, Monaco, Malta and Turks & Caicos.
This follows news that around 3.4 million people in England -- 6% of the population -- have contracted coronavirus, with infection rates twice as high in London, according to a survey of more than 100,000 people.
Tracking the UK housing rebound
The RICS UK Residential Market Survey yesterday confirmed July's significant pick-up in activity, with agents expecting sales to continue to climb for at least the next three months. They envisage a slow down within the next 12-months due to concerns as to how the market performs once the furlough scheme is phased out in October and the Stamp Duty holiday expires after March 2021.
Mortgage rates at or close to record lows will continue to underpin demand, though there are some early signs average fixed rates are beginning to creep up, according to Knight Frank Finance. In further evidence of a recovery in activity, the Land Registry said it would resume its house price index after halting it in May due to a lack of sales activity.
The global economy in five charts
China continues to lead the global recovery, though some indicators are showing signs of slowing. Industrial output climbed 4.8% in July compared to a year earlier, but retail sales dipped slightly and house price growth slowed for the first time in five months.
This weighed on shares across the region overnight, as did the continued standoff over further economic stimulus in the US. There are positive signs emerging from across the Atlantic, however, as the number of Americans seeking unemployment benefits dropped below one million last week for the first time since the start of the pandemic.
There's plenty to keep track of, so Flora Harley this morning rounds up everything you need to know about the global economy in just five charts.
The results of results day
One of the big question marks for universities and student accommodation providers over the last few months has been the fate of domestic and international student numbers for the coming year. The initial figures paint a fairly positive picture and 415,600 students have a confirmed place on an undergraduate course in the UK, which represents a 1.6% increase compared with the same point last year, writes Matt Bowen.
Knight Frank recently completed a snapshot survey of six of the largest UK student accommodation operators, who between them control 170,000 beds in the sector. Currently, based on this survey, bookings are between 70% and 85% of expected levels.
In other news...
In a new Intelligence Talks Podcast, global head of prime sales Paddy Dring tells Anna Ward why global super-prime prices rose by 15% between March and June. He also has the latest on Los Angeles, Hong Kong and London, and reveals where he would invest $20m. Listen on Apple, Spotify or Acast.
Justin Eng on the flight to quality across Asia-Pacific capital markets; France to reciprocate Britain's quarantine; and Malaysia’s economy shrinks the most since 1998.