Tag: Scotland

Mortgage lending growth slower in Scotland

Mortgage lending growth slower in Scotland

Mortgage lending in Scotland rose by 8 per cent in the third quarter, with the number of loans increasing to 12,400, 900 more than in the previous quarter. However, the rate of growth was much lower than for the UK as a whole, where mortgage lending increased by 16 per cent. The data, from the [...]

November 24, 2011 | 1 Comment More
UK passengers face delays due to ash cloud

UK passengers face delays due to ash cloud

As expected, ash cloud has drifted over Scotland from Iceland’s Grimsvotn volcano, resulting in flight cancellations. The volcano, which erupted over the weekend, is the second in just over a year after the volcano located under the Eyjafjallajokull glacier about 100 miles east of the capital Reykjavik, led to flight cancellations last year. It forced [...]

May 24, 2011 | 0 Comments More
Scottish Q4 growth figures revised upwards

Scottish Q4 growth figures revised upwards

Scotland’s economy shrank less than thought in the October to December period, official figures revealed today. GDP was revised upwards to a contraction of 0.4% rather than an earlier estimate of 0.5%. The contraction was attributed to the bad weather during the quarter which impacted on many businesses. On an annual basis, meanwhile, the economy [...]

April 21, 2011 | 0 Comments More
Scotland’s economy stalls in Q1

Scotland’s economy stalls in Q1

April 14, 2011 | 0 Comments More
Scotland’s recovery hit by December’s big freeze

Scotland’s recovery hit by December’s big freeze

According to the latest Lloyds TSB Business Monitor, Scotland’s economic recovery has been hit by the severe wintry weather at the end of last year. For the three months to the end of February, almost half of companies experienced a decline in turnover, one third experienced level, or “static”, turnover, while a quarter noted an [...]

March 28, 2011 | 0 Comments More
Scottish manufacturers see strong rise in production

Scottish manufacturers see strong rise in production

Official figures revealed Scotland’s manufacturing sector grew in November at its fastest rate since August. The rise was attributed to a strong rise in new export orders for Scottish manufacturers, the Bank of Scotland’s Purchasing Managers’ Index (PMI) revealed today, boosted by demand from China and the US. The Bank of Scotland’s chief economist, Donald [...]

December 13, 2010 | 0 Comments More
DCLG: house prices down in July

DCLG: house prices down in July

New figures from the Department for Communities and Local Government (DCLG) show the average UK house price falling by 0.3% in July, with the annual rate of inflation slowing to 8.4%, compared with 9.9% in June. On a country basis, annual house price rises were evident in England 9.0%; Scotland 3.7% and Wales 10.1%, while [...]

September 15, 2010 | 0 Comments More
Virgin Money brings new jobs to Scotland

Virgin Money brings new jobs to Scotland

Virgin Money is to bring 200 jobs to Edinburgh, it has been announced today. The financial division of Sir Richard Branson’s Virgin Group was granted a banking licence by city watchdog, the Financial Services Authority, earlier this year. The launch of the retail bank later comes at a time when consumers have lost confidence in [...]

September 8, 2010 | 0 Comments More
Scotland sees cost of home ownership fall by 4%

Scotland sees cost of home ownership fall by 4%

The cost of owning and running a home in Scotland has declined by 4% over the past two years, according to research by Bank of Scotland. Between April 2008 and April 2010, average yearly expenses fell by £388, from £8,949 to £8,562. In real terms (after allowing for retail price inflation), the figure is down [...]

June 29, 2010 | 0 Comments More
Official: annual house price rise in double digits

Official: annual house price rise in double digits

House prices were 10.1% higher in April than a year earlier, having gained 0.4% during March. New figures from the Department for Communities and Local Government put the average cost of a UK home at £207,516, taking into account a 0.9% rise over the three months to the end of April. However, the quarterly increase [...]

June 16, 2010 | 0 Comments More
Slow recovery for Scottish housing market

Slow recovery for Scottish housing market

The housing market in Scotland is showing signs of a weak recovery, according to the latest Scottish House Price Monitor from Lloyds TSB Scotland. In the first quarter of 2010, the value of the average Scottish home rose 0.7%, compared with the previous three months, to £157,801. The increase is a shadow of the 5.9% [...]

May 20, 2010 | 0 Comments More
Scottish economy stutters in first quarter

Scottish economy stutters in first quarter

The Scottish Chambers of Commerce (SCC) has today reported that the Scottish economy suffered in the early part of the year due to severe wintry weather, which hit both confidence and activity. The report, which reviewed the first three months of 2010, was carried out by the SCC in conjunction with Strathclyde University’s Fraser of [...]

April 15, 2010 | 0 Comments More
Highland Airways enters administration

Highland Airways enters administration

Scottish airline, Highland Airways, has gone into voluntary administration putting 100 jobs at risk. The company, which is based in Inverness and also has routes to Wales, called in administrators last night, PricewaterhouseCoopers (PwC), to take over the running of the business. The Civil Aviation Authority (CAA) said operations had been suspended “with immediate effect”. [...]

March 25, 2010 | 0 Comments More
Official: house prices up an annual 6.2% in January

Official: house prices up an annual 6.2% in January

The latest house price index from the Department for Communities and Local Government claims that in January, prices were up 6.2% year-on-year, having risen 2.2% since December. The analysis puts the value of the average UK home at £207,159 in January, having shown an increase of 4.8% over three months. The quarterly figure compares with [...]

March 18, 2010 | 0 Comments More
Official figures show 2.9% house price gain for 2009

Official figures show 2.9% house price gain for 2009

Latest UK house price statistics from the Department for Communities and Local Government (DCLG) show the value of a typical home up 2.9% in December, compared to a year earlier. The month saw a 0.8% increase on November, taking the average house price to £200,307 and completing a 2.9% gain for the final quarter of [...]

February 17, 2010 | 0 Comments More
Scottish textiles mill enters administration

Scottish textiles mill enters administration

Borders-based JJ&HB Cashmere Mills, which employs 176 people, has been put into administration. The Italian-owned firm, based in Innerleithen in the Borders, is one of Scotland’s oldest cashmere manufacturers and also has operations in Coatbridge and Galashiels. However, there are hopes that a buyer can be found after joint administrator, James Stephen of BDO LLP, [...]

January 8, 2010 | 0 Comments More
Scotland’s biggest airline collapses

Scotland’s biggest airline collapses

December 17, 2009 | 1 Comment More
Regional response to end of stamp duty holiday

Regional response to end of stamp duty holiday

With the stamp duty holiday due to end on 31st December, the Royal Institution of Chartered Surveyors (RICS) is warning that a return to the previous structure of the tax could have a detrimental affect on the UK’s fragile property market. According to the body, regions that are already lagging behind in the recovery will [...]

November 17, 2009 | 0 Comments More
Social enterprise bolsters rural economies

Social enterprise bolsters rural economies

Research in two rural Scottish towns has found that social enterprise makes up a significant part of the local economy. A study by the Perth and Kinross Social Economy Partnership (SEP) found that the social economy in the two towns has an annual value of up to £70 million, employs 1,800 people, and engages over [...]

October 23, 2009 | 0 Comments More
Mortgage lending picks up for Scotland

Mortgage lending picks up for Scotland

Mortgage lending activity in Scotland has begun to stabilise, the Council of Mortgage Lenders (CML) reports. In the second quarter of 2009 there were 11,400 house purchase loans taken out across the region, a 50% rise from 7,600 during the previous three months, but nevertheless 39% below the figure for a year earlier. The increase [...]

August 26, 2009 | 0 Comments More