China's crypto crackdown

Crypto crash

The price of Bitcoin plummeted to below $34,000 yesterday on news that China banned banks and payment firms from offering crypto-related services. It’s since recovered some ground. Cryptocurrency trading has been illegal in China since 2019, but 75% of Bitcoin mining still happens there. This move marks a new effort by the Chinese government to crack down on crypto activity.

House prices jump

It’s official: house prices surged 10.2% in the year to March 2021. That’s the biggest annual rise since 2007, according to the Office for National Statistics. The data confirms the trend for people moving away from urban areas in search of more space. Detached houses have seen the biggest rises, while flats dawdled at 5%. And Yorkshire tops the table with 14% regional growth, compared to just 3.7% in London.

Return to the city?

Buyer demand for city-centre flats is coming back, according to Rightmove data. Searches on the property site tell a new story: flats are the most in-demand property type at the moment, for the first time in 10 years. Plus, searches for city-centre homes have risen 35% since January.

Great British Railways

New flexible season tickets will go on sale on 21st June as part of new government plans to modernise the railways. A new state-owned body, Great British Railways (GBR) will set ticket prices and timetables from 2023. Apparently, the changes will mean cheaper and more flexible tickets, and trains that run on time.