In the City

Just a few months ago, the UK housing market seemed to be finding its footing. That hope has since faded. In June, house prices fell to their lowest rate in over two years, according to new figures from Nationwide Building Society. This surprised economists who had been expecting a small uptick. The decline follows the government’s April decision to raise transaction taxes—a move that’s added to the burden for buyers already grappling with high borrowing costs. On this week’s In the City, host Allegra Stratton is joined by Bloomberg Opinion columnist Marcus Ashworth and European real estate reporter Damian Shepherd to examine the UK housing market’s slowdown—and what might come next.See omnystudio.com/listener for privacy information.

According to new polling, the party led by Nigel Farage now stands at 34% support, nine points ahead of Labour and well ahead of the Conservatives. Hosts Francine Lacqua and David Merritt sit down with Zia Yusuf, head of Reform UK’s own “Department for Government Efficiency,” to explore the party’s rapid ascent and the political undercurrents driving it.See omnystudio.com/listener for privacy information.

It’s no secret the Labour government’s policy to tax the UK’s wealthiest as part of its effort to fix a budget crisis left by the Conservatives has caused Prime Minister Keir Starmer some headaches. The biggest exodus of wealth in the UK’s recent history appears to be underway, and the data shows the departure is likely to be a drain on the economy. But is it enough for Chancellor of the Exchequer Rachel Reeves to change course? And should she?Bloomberg reporter Benjamin Stupples joins host Allegra Stratton to discuss. See omnystudio.com/listener for privacy information.

London has long prided itself on being a global tech hub, promoting the image of a thriving and ambitious capital for innovation. But that reputation is beginning to slip. Major UK fintech firms like Revolut and Wise are shifting their focus—and listings—to the US, drawn by stronger valuations, deeper market liquidity and better access to compute infrastructure. As more companies look across the Atlantic, can London live up to the tech center image it projects? In this week’s episode of In the City, host Francine Lacqua speaks with Bloomberg editor Amy Thomson to explore whether London is keeping pace or simply masking its decline.Read more: https://www.bloomberg.com/features/2025-european-startups-to-watch/ https://www.bloomberg.com/news/articles/2025-06-10/europe-s-ipo-drought-has-stock-exchanges-battling-for-listingsSee omnystudio.com/listener for privacy information.

Sam Richards, chief executive of Britain Remade and a former special advisor at Number 10, joins the hosts for a deep dive into the UK's upcoming spending review. The discussion highlights a potential shift towards infrastructure funding, examining its implications for energy, housing, and transportation. They tackle the complexities of major projects, the need for regulatory reforms, and the challenges of balancing development with environmental concerns. Richards emphasizes the importance of strategic investment to avoid bureaucracy and ensure sustainable growth.

In this conversation, Yolande Barnes, a Professor of Real Estate at University College London, offers a deep dive into the current state of the UK housing market. She discusses the stagnation of house prices and its impact on first-time buyers. Despite fears, she sees no imminent crash, advocating for a mindset shift towards long-term ownership. Barnes also critiques government strategies, suggesting a focus on retrofitting homes instead of relying on speculative building. With regional trends in flux, her insights are essential for anyone navigating today's market.

Matthew Martin, Bloomberg's Chief Correspondent for MENA Sovereign Wealth Funds, and Dinesh Nair, Chief Correspondent for Global Deals, dive into the booming deal-making landscape in the Middle East. They discuss over $1 trillion in economic commitments from Saudi Arabia, Qatar, and the UAE, focusing on sectors like defense and AI. The duo examines the implications of American investments and the growing interest in sports ownership as a way to enhance regional influence. Finally, they address the shift of investment capital away from Europe towards the US and emerging markets.

Nimesh Shah, CEO of Blick Rothenberg, offers a keen insight into the UK government's recent tax reforms targeting wealthy non-domiciled residents. He discusses the possible economic fallout, with studies suggesting a significant exodus if wealthy individuals flee the country in response to losing their tax status. The conversation also covers the need for better communication between the government and high earners, emphasizing the importance of a stable tax strategy to retain wealth and navigate future uncertainties.

It's been a whirlwind week for UK trade — first a deal with India, and now, a surprise announcement: a US-UK trade agreement. With aims to reduce trade barriers and increase market access for American imports and industrial exports, this latest deal sets the stage for closer economic ties between the two countries.Hosts David Merritt and Francine Lacqua speak with Dan Hanson from Bloomberg Economics to unpack the US-UK trade deal and what it could mean for the UK's broader economic outlook.See omnystudio.com/listener for privacy information.

London is closing the gap with New York for the title of world’s top financial center, according to the latest Global Financial Centres Index. Is it a signal that the the UK’s efforts to rejuvenate its banking and investment sectors post-Brexit are starting to pay off? On this week’s In The City, host David Merritt sits down with Chris Hayward, Policy Chairman of the City of London Corp., who makes the argument it is.See omnystudio.com/listener for privacy information.