A good news week for the UK economy

9th June 2021

By Will Leyland

As the sun finally begins to shine across the UK signalling that summer is here, there’s a distinct and palpable good mood across the country.

Despite some worries, the UK’s roadmap out of lockdown has continued on schedule, with June 21st quickly coming into view, and the vaccine programme continues to be one of the best and most effective in the world.

This has meant that for some time now the pandemic has broadly been under control across the country and people are now beginning to get back to some level of normality.

Simple pleasures such as sitting in the garden in the sunshine with friends has returned, and with it, the economy seems to be roaring back to life once again.

Despite a rough 12 months last year, the economy actually did relatively well, with the short and pronounced shock that meant we only briefly entered into a recession. The patterns that were seen were largely predictable and indeed were predicted by most.

As we continue along this upward trend, the economy now seems to be creeping back to its pre-pandemic levels, save for some changes in work behaviour and traffic levels in cities.

We’ve picked two good news stories from this week to highlight the recovery.

Job vacancies soaring

According to a KPMG report, featured by the BBC, the UK is adding new jobs to the economy at the fastest rate in 23 years.

As reported by the BBC, “The easing of Covid restrictions and reopening of various sectors meant demand for workers rose at its fastest rate in May”

Industries that are re-opening for the first time in months have the most vacancies as they try and fill roles that had been lost during lockdown.

Hospitality and tourism, for example, were advertising thousands of roles, making it something of a jobseeker’s market in the UK, and highlighting that the economy is bouncing back strongly.

House prices soar 10.9%

Also featured by the BBC, house prices across the UK rose by a staggering 10.9% in the 12 months to May this year.

That’s the fastest rate of growth for decades and highlights just how high the demand for property currently is.

Landlords, too, have experienced this huge surge as they see rental demand explode along with other activity. Housing stocks are simply not keeping up with demand, and this upward pressure is meaning that yields in the UK are rising quickly too.

Property firms are doing their best to continue to build new stock, but with the pause of lockdown this has also struggled to keep pace. Property investors from all around the world are now looking to get involved in the UK market, and many property firms are inundated with enquiries for some of the hottest investment property in the world.

With the UK economy growing so quickly as we emerge from the pandemic, it’s hardly surprising that property is following the lead, and if you’re a property investor that has been looking at the UK market recently then the advice would be to get your skates on.

Did you find this article helpful?

Our most recent articles

A good news week for the UK economy

09 June 2021

As the sun finally begins to shine across the UK signalling that summer is here, there’s a distinct and palpable good mood across the country.

Despite some worries, the UK’s roadmap out of lockdown has continued on schedule, with June 21st quickly coming into view, and the vaccine programme continues to be one of the best and most effective in the world.

This has meant that for some time now the pandemic has broadly been under control across the country and people are now beginning to get back to some level of normality.

Simple pleasures such as sitting in the garden in the sunshine with friends has returned, and with it, the economy seems to be roaring back to life once again.

Despite a rough 12 months last year, the economy actually did relatively well, with the short and pronounced shock that meant we only briefly entered into a recession. The patterns that were seen were largely predictable and indeed were predicted by most.

As we continue along this upward trend, the economy now seems to be creeping back to its pre-pandemic levels, save for some changes in work behaviour and traffic levels in cities.

We’ve picked two good news stories from this week to highlight the recovery.

Job vacancies soaring

According to a KPMG report, featured by the BBC, the UK is adding new jobs to the economy at the fastest rate in 23 years.

As reported by the BBC, “The easing of Covid restrictions and reopening of various sectors meant demand for workers rose at its fastest rate in May”

Industries that are re-opening for the first time in months have the most vacancies as they try and fill roles that had been lost during lockdown.

Hospitality and tourism, for example, were advertising thousands of roles, making it something of a jobseeker’s market in the UK, and highlighting that the economy is bouncing back strongly.

House prices soar 10.9%

Also featured by the BBC, house prices across the UK rose by a staggering 10.9% in the 12 months to May this year.

That’s the fastest rate of growth for decades and highlights just how high the demand for property currently is.

Landlords, too, have experienced this huge surge as they see rental demand explode along with other activity. Housing stocks are simply not keeping up with demand, and this upward pressure is meaning that yields in the UK are rising quickly too.

Property firms are doing their best to continue to build new stock, but with the pause of lockdown this has also struggled to keep pace. Property investors from all around the world are now looking to get involved in the UK market, and many property firms are inundated with enquiries for some of the hottest investment property in the world.

With the UK economy growing so quickly as we emerge from the pandemic, it’s hardly surprising that property is following the lead, and if you’re a property investor that has been looking at the UK market recently then the advice would be to get your skates on.

Will Leyland

Did you find this article helpful?


Our most recent articles