Business News Round Up (12/03/2020)
Scotland’s financial sector facing ‘perfect storm’
Scotland’s financial services sector is starving itself of future leaders by purging the ranks of middle management, according to a comprehensive study. Industry specialist recruiter Core-Asset Consulting’s Annual Salary Guide, based on annual research of 4000 registering candidates and hundreds of job offers and placements, reveals that while wages remain stable, overall firms must urgently adapt to a number of potentially existential issues. Core-Asset warned of key existential challenges facing the sector which directly employs 100,000 people in Scotland, according to Scottish Financial Enterprise. Core-Asset’s 53-page white paper, which is in its eighth year, is to be published in full next week.
https://scottishbusinessnews.net/2020/03/10/scotlands-financial-sector-facing-perfect-storm/
Regional house prices set to grow dramatically
Regional house prices are set to dramatically increase over the next five years as the economy is re-balanced away from London, a new report has stated. According to new research from real estate consultancy JLL, the ‘big seven’ regional cities – Manchester, Liverpool, Leeds, Birmingham, Bristol, Glasgow and Edinburgh – are poised for growth thanks to the UK’s renewed economic and political certainty. Manchester is forecasted to have the highest sales prices and rental growth of any city in the UK over the next five years, at 17.1% and 16.5% respectively. The city’s population growth and robust job market have been cited as key reasons, with its digital, creative and media industry fuelling growth in the region.
https://thenegotiator.co.uk/regional-house-prices-set-to-grow-dramatically/
Manchester Arena unveils redevelopment plans
Manchester Arena has unveiled an early stage vision for its redevelopment as it looks to become the largest venue of its kind in Europe, marking a year of celebration for the people, communities and businesses that have made it one of the world’s most successful venues. A dramatic redesign of the main arena would significantly increase standing capacity and provide new food and drink experiences on the event floor. It would take overall capacity to more than 24,000, making it the largest indoor arena in Europe.
https://www.insidermedia.com/news/north-west/manchester-arena-unveils-redevelopment-plans
Housing prices up for sixth month in a row but RICS fears coronavirus impact
House prices in Scotland have risen for the sixth consecutive month, according to the latest statistics. The RICS Residential Market Survey for February suggests a net balance of 35% of Scottish respondents saw an increase, higher than the UK average of 29%. However, new buyer inquiries and instructions to sell were flat, with net balances of 0% in Scotland and a UK average of minus 3% reported respectively. While more than a quarter of Scottish respondents (26%) expect house prices to continue rising in the next three months, experts are still advising caution amid the uncertainty, this time from coronavirus as well as Brexit.
https://www.insider.co.uk/news/housing-prices-up-sixth-month-21678376