Category Archives: Economy

Home Prices in London on the Rise

Real estate markets from one side of the world to the next, particularly in the UK and the United States, are beginning to see an uptick in activity. This is good news for many countries, especially those that have gone through a rough stretch over the past few years.

Home prices in London and the south are on the rise, with the Nationwide Building Society noting that prices in the city are increasing at 10 pc annually. While this may not sound like a big deal, when compared to the weakest region in the UK, the North, which is climbing at only 0.2 pc, it is easy to see just how robust this growth really is.

London Growth Fastest Since 2010

Believe it or not, the growth experienced by London at the present time is the fastest recorded since 2010. While this is good news for those who are looking to sell their home, it is important to note that those who are buying are in a different situation. The reason for this is simple: prices in the area are 8 pc higher than they were in 2007.

Here are some stats that you need to be aware of:

  • The average home price in London is £331,000
  • The average home price in the North is £117,000
  • The average home price in Northern Ireland is £109,000

As you can see, home prices in London are almost three times as much, on average, as those in Northern Ireland.

London is out in front in terms of growth, with the next fastest growing region being East Anglia with a 6.6 pc increase year over year.

For a real estate market that was down and out only five years ago, it is nice to see things picking up in London, as well as some of the other regions nearby.

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Finding a Decent Job in a Bad Economy

Many people have had a difficult time finding employment in the current economy. Real unemployment is probably about 15% in the United States and considerably higher in some countries. Nearly half of Spanish workers under the age of 30 are currently out of work. Many of these challenges won’t go away anytime soon. Fortunately, people can still find good work if they take the right steps.

Current Landscape of the Labor Market

Many experts predict that the labor market will increase significantly as the economy improves. Unfortunately, there are a number of structural problems in the labor market which will probably not recover in the near future. People need to compete with workers overseas and many jobs are being destroyed by innovations in technology.

Workers in previous years didn’t need to worry about finding a new job. All they had to do was mail out a resume to a few prospective employers and they would almost be guaranteed a job. Those search strategies are no longer viable ways to find a job. You will need to be smarter to find work in this economy.

jobs

What You Need to Do to Find a New Job

Many people spend months sending resumes to companies over the Internet. You may get luck applying for jobs online, but it isn’t the most effective way to look for work. You will need to try these strategies to increase your chances of landing your dream job:

  • Tap the hidden job market. Most people spend all their time applying for jobs online. However, 90% of the jobs in this economy are never published anywhere. You will need to network with people to find out about positions that aren’t listed. According to one study, nearly 45% of new hires were referred by a previous employee.
  • Develop your skills. You will always need to be updating your skill sets to look more appealing to a prospective employer. You may be at a disadvantage when you have been out of work for a while. However, an employer will be more willing to hire you if they see that you have taken the necessary steps to invest in your career.
  • Network well. Most job seekers don’t spend their time networking. This is the best way to get into a new position. You will need to use every networking opportunity you can find, both online and offline. Use social networking sites such as LinkedIn and Facebook. You should also consider going to Chamber of Commerce meetings and business mixers. This will help you build the connections you need to get a job.
  • Focus on your value to the employer. Ten years ago anybody with a business degree could flaunt their diploma and get a job offer. Those days are gone. You will need to show that you can bring value to your employer if you hope to get hired. Tell them what steps you can take to help them grow their business.

Finding a job can be very difficult in a bad economy. Fortunately, you can still find employment if you put in the extra effort. Don’t get discouraged if you haven’t had any luck. You should try to change your strategy instead.