This statistic displays the estimated average cost of houses across the component regions of England and the other countries of the United Kingdom (UK) for 2015 and 2020, in the main scenario. The source expects the cost of houses in the UK to continue to rise in the economic climate following the Brexit referendum. London is still expected to be the most expensive area in the UK by 2020, with the average price of a house expected to cost more than half a million pounds.
This statistic presents the forecasted percentage change a no-deal Brexit would have on major economic indicators. In this scenario the United Kingdom's GDP is estimated to fall by eight percent, with house prices also predicted to decline by as much as 30 percent.
While a deal between Britain and the European Union was reached in November 2018, the deal must survive a parliamentary vote in order for it to be implemented. In the event that the vote doesn't go through parliament a no-deal Brexit would be the default scenario.
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Colocation providers have become essential for the finance and manufacturing sectors as they navigate the uncharted seas of digitalisation. These companies are grappling with jumping desires for data storage, fuelled by remote work and advanced digital products. Colocation providers have expanded their vessel size by adding more data centres to their fleet to quench this demand. The COVID-19 outbreak was an unexpected benefactor — during lockdowns, the pivot to an online existence spurred interest in cloud services, escalating industry revenue as requests for colocation facilities flooded in. This trend has continued as hybrid work models emerge as a dominant force shaping the job market, creating further ripples of heightened demand for data housing. Over the five years through 2024-25, colocation facility revenue is expected to grow at a compound annual rate of 3.6% to reach £2.8 billion, including forecast growth of 2.8% in 2024-25. Supply chain disruptions, international conflict-induced energy price spikes and Brexit-imposed border checks have wreaked havoc on operational costs and hindered growth. In response, providers like Equinix have pumped money into expanding operations, while others are considering switching to local suppliers. Despite these challenges, the rise in online activities that would benefit from cloud services, including escalating reliance on AI systems from the financial services sector, has boosted revenue growth. Repercussions of the Russia-Ukraine conflict contributed to staunch energy costs, and supply chain disruptions added to the burdens. Natural gas prices spiked in August 2024, according to the Agriculture and Horticulture Development Board, primarily due to geopolitical tensions, including the escalation of the Israel-Hamas war and concerns over potential supply disruptions at the Russian-Ukrainian border due to the ongoing conflict. However, thanks to new UK suppliers, energy prices are set to stabilise in 2024-25, aiding profit. Over the five years through 2029-30, the Colocation Facilities industry's revenue is slated to climb at a compound annual rate of 3.4% to reach £3.3 billion. The bank rate is set to remain elevated in the short term, although it is falling, as pains from high inflation and the heightened cost of living remain. This will ramp up the cost of borrowing, making colocation facilities an attractive alternative to establishing costly in-house operations. Technological innovation will continue to gather momentum as colocation facility providers take a more customer-centric approach through greater flexibility, sustainability and security.
In 2023, demand for UK-built cars grew by 16.8 percent year-on-year to some 905,100 units. The United Kingdom exports nearly eight out of 10 cars assembled in UK plants. Vulnerability to trade disruptions Sales and exports of UK-manufactured vehicles began to fall in 2016. Slumping investments amid Brexit fears, as well as higher costs of production, are likely to have contributed to a slowdown in demand. Since the UK’s referendum on membership of the European Union, the British pound has fallen in value. This may have been expected to be good news for exporters, who garner more interest with relatively cheaper products. However, the weak pound is unfavorable for vehicle manufacturers due to their international supply chains. The European Union is the UK auto industry's leading trade partner, accounting for most of its car imports. EU markets also account for around six in 10 UK car exports. Inflation impacts new and used car sales The price inflation recorded in the United Kingdom impacted all product types, passenger cars included. New car purchases were the most affected by the soaring prices: Their consumer price index was at its highest in the past fifteen years in 2023. In contrast, the consumer price index for used car purchases decreased in 2023, down from its record-breaking 2022 value.
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This statistic displays the estimated average cost of houses across the component regions of England and the other countries of the United Kingdom (UK) for 2015 and 2020, in the main scenario. The source expects the cost of houses in the UK to continue to rise in the economic climate following the Brexit referendum. London is still expected to be the most expensive area in the UK by 2020, with the average price of a house expected to cost more than half a million pounds.