Money Tips Daily Weekend News Roundup 6 July 2019

Money Tips Daily Weekend News Roundup 6 July 2019

House prices continue dropping in London

Gold prices rise

Are stock markets due for a correction?

Summary of the leading finance stories this week:

Amazon is 25 years old looks set to dominate the world, and Jeff Bezos is the richest man in the world, although I’ve heard that before with other companies like Facebook.

House prices continue to fall in London. According to the nationwide survey house prices in London fell for the eighth consecutive quarter and grows in other parts of countries slowed to just .5%.

Earlier this week it was reported that the salary needed to buy the average property in London is now £84,000. This figure also reflects the tight lending policy imposed by the government a few years ago in order to stop another house price boom and bust.

Excessive stamp duty does not help the situation

This news may be good for buyers and even investors who want to pick up cheap properties. However, stamp duty is a factor. For instance, if you Bought a three-bed house or similar price property in London inside zone three or four for £575,000 to £600,000 your stamp duty would be over £34,000.

Then look at the yield. If you were able to get a rental of £19,000 – £20,000 pa your gross yield would be around 3%. Some agents in London are claiming that 3% is a good yield! Nonsense. If interest rates were not so low – 2%ish on a buy-to-let mortgage – and landlords were not taking interest only mortgages, most London property deals would not stack up at all.

Inheritance tax (IHT) is to be simplified and possibly tightened up following a review by the office for tax simplification. One of the suggestions is to reduce the seven-year rule to 5 years, but I expect loopholes to be closed in order to squeeze even more money out of the taxpayer! What does this mean for you? Seek tax advice from an expert if you are worried about IHT.

Boris Johnson and Jeremy Hunt continue to fight out the battle for the leadership of the Conservative party and, by default, the country’s next Prime Minister. Both candidates are promising big rises in spending, which makes you wonder where the money is going to come from. Government ministers have previously said that there is “no money tree” and this is true. All the money that is collected in taxes is spent on running the country and more is usually needed which means borrowing and issuing government bonds.

Stock markets at all time-high

Like any business, you can make cuts here and there and try to save on salaries or marketing, but unless you produce more, make more sales and make more profits you are just juggling figures and robbing Peter to pay Paul.

Coming out of the European Union would in theory save £39 billion on the EU contribution, although how much we save in net terms we are not exactly sure. However, they could also be a recession and I slowdown in the immediate aftermath of Brexit.

Stock markets steadied as Trump reins back on his threatened trade war with China, but are at an all-time high following a ten-year bull run.

The price of gold has risen in the last few months indicating that investors are looking for a safe haven for their money.

Britain’s oldest builder, Brighton based R Dutnell and Sons (now there’s an old name) went into liquidation. Quite sad because the firm had been trading since 1591 And been run by 13 generations of the same family. Can anyone save them?

On the good news front, Jaguar Land Rover have agreed to invest hundreds of millions of pounds building the new generation of electric vehicles in the UK.

Amazon has enabled thousands of authors to easily self-publish their books online, as I have with my book, Yes, Money Can Buy You Happiness! See link –

If you want to quit the rat race and work from home, but can’t quite replace your income from your paid job, why not try and gradually make the transition over a period of time?

You can learn how to get started on Amazon or Facebook by following the steps of people who have done all the hard work for you and now want to pass on their knowledge.

For more information on Amazon and Facebook courses email

Post a Comment

#Follow us on Instagram