Knight Frank Daily Update Tuesday 16th June
Factory output in China, Portugal's Golden Visas, and a potential Brexit breakthrough
2 minutes to read
Good morning,
Need to know
The Prime Minister Boris Johnson said yesterday that a Brexit deal could be done in July. Formal discussions will resume on June 29 in what has been described as a more concentrated format than the previous series of talks.
Scientists at Imperial College London will start the first clinical trials of a potential Covid-19 vaccine this week with more than 45 million pounds in backing from the UK government and philanthropic donors.
As the pandemic passes 8 million infections, Europe continues to represent an ever smaller proportion of new cases, down to approximately 12% of the global total. North America has accounted for approximately 20-25% of new daily cases since late May, and it is holding relatively steady, according to Johns Hopkins.
Asia now represents approximately 30% of the global daily incidence, up from 15% in early May. South America accounts for 25-35% of the global incidence.
Emmanuel Macron has lifted most of France’s remaining coronavirus lockdown restrictions. The easing means the full reopening of bars and restaurants in Paris that have been restricted to serving customers on outdoor terraces.
Factory output accelerated in China last month, with industrial output rising 4.4% in May, up from 3.9% in April.
The property market
Flora Harley's analysis of global mobility data reveals European cities are seeing the largest improvements with Paris, Prague, Vienna, Milan and Madrid representing the top five performers - although lockdowns here were some of the strictest.
Seoul and Hong Kong are the cities closest to “normal” levels of activity, but they are now joined by Prague, Stockholm and Sydney which continues to see a relaxation of restrictions.
Kate Everett-Allen's update on Portugal's property market outlines changes to the Golden Visa system aimed at shifting investors' attention to lower density regions, and provides an update on the reopening of the economy.
In today's agent's diary, Chris Druce finds out why the UK's country market is unlikely to have its traditional summer slowdown, and explores what's really happening to pricing.
Andrew Shirley's update on rural markets has the latest on Brexit, with the news the UK has abandoned plans to impose full border checks on goods entering the UK via ports such as Dover for at least six months.
The Rural Report - our flagship annual publication for rural property owners and their advisors, is out later this week.
You can find an overview of key financial and economic metrics, compiled by Will Matthews, here.
If you have any questions, please contact me, or the team.