Record economic rebound

Record economic rebound

Economy recovering

The economy jumped 27.6% in April compared to April 2020 according to official data from the Office for National Statistics. That’s the biggest annual rise on record. Hairdressers, holiday accommodation and hospitality led the charge, enjoying a huge surge in business. Output rose 2.3% month on month, which is the fastest rate since July. The recovery is gathering pace, but the economy is still 3.7% below pre-pandemic levels.

Lack of homes for sale

The gap between the number of buyers and properties on the market is at its widest since 2013*. That’s according to the Royal Institution of Chartered Surveyors (RICS). A lack of homes for sale has created an imbalance between demand and supply, according to estate agents. And it’s a vicious cycle, as home movers decide against putting their home up for sale in case they can’t find their next place.

Selfridges on the market

Fancy buying the iconic department store? You’ll need to find more than £4 billion to beat the current bid. Selfridges owners the Weston family are considering selling after being approached about a takeover. It’s been a tough year even for top end shops, with retail and travel restrictions taking their toll on sales.

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