News from Think Relocation!
Welcome to our News Section, we aim to keep this updated with relevant news and industry information to keep you advised of the important things that matter!
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News Letter
August 2024
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A lot has happened in the last month!
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Property Market Update
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In July 2024, the UK property market exhibited a blend of resilience and cautious optimism. Despite the general election and summer distractions like international sports events, house prices experienced a modest decline. The average asking price dropped by 0.4% month-on-month to £373,493, a steeper fall than typical for July. However, annual growth remained positive at 0.4% .
Sales activity saw a notable increase, with the number of sales agreed being 15% higher than the same period last year. This uptick was driven by increased confidence following the election and expectations of imminent interest rate cuts by the Bank of England . The central bank’s base rate, currently at a 16-year high of 5.25%, is widely anticipated to decrease, potentially starting in August or September. This has already led to a slight reduction in mortgage rates, with the average five-year fixed rate down to 4.97% from a peak of 6.11% .
Market confidence is further bolstered by the new government’s ambitious plans to build 1.5 million homes and implement mortgage guarantees for first-time buyers. These initiatives are expected to address supply shortages and improve affordability . Overall, while the market faced short-term challenges, the outlook for the remainder of the year appears positive, with a likely increase in activity and house prices as economic conditions stabilise .
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News Letter
July 2024
Monthly Industry Update from Global Employee Mobility
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Property Market Update
Financial Markets
Election 2024
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Property Market Update
Over the past six months, the UK property market has experienced significant fluctuations influenced by a variety of factors. Interest rates have continued to play a pivotal role in shaping market dynamics. The Bank of England has implemented interest rate hikes in response to persistent inflation. These higher borrowing costs have cooled the fervor seen in the market over the previous year, leading to a slowdown in home sales and a decline in the rate of price appreciation. Prospective buyers are facing increased mortgage rates, which has dampened their purchasing power and, consequently, their enthusiasm to enter the market.
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News Letter
June 2024
What is Relocation?
Introduction:
Relocation is a significant life event that many people experience at some point. Whether it's for a new job, a change in lifestyle, or personal reasons, the process of moving from one place to another involves various considerations and challenges. In this blog, we'll delve into what relocation entails, including its reasons, planning, execution, and the impact it can have on individuals and families.
Reasons for Relocation:
Relocation can stem from a variety of reasons, each with its own motivations. Some common reasons include:
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It's Our Birthday!
It's been 10 years since we created GEM, we would like to take this opportunity to say thank you to all the clients, colleagues, friends and family that have supported us over this time.
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In this business you cannot stand still and over the period we have seen a number of industry changes, new arrivals to the scene, mergers and acquisitions, new services developed and adopted by clients and much more.
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So we thought we should mark the anniversary with a rebrand!
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We will always retain our roots and the company name of Global Employee Mobility but we recognise that whilst Mobility is an industry recognised term, to some it can have a different meaning.
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With this in mind we would like to introduce you to Think Relocation, our new industry name and logo.
We hope you like it!
Don't forget that we still provide the same high level service to clients and their employees so if you have any relocation needs, we would be delighted to help and encourage you to Think Relocation! with
Global Employee Mobility Ltd