House prices jump

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Steep monthly rise

House prices have jumped 2.1% in April compared to last month according to Nationwide. That’s the biggest monthly rise since 2004, and puts prices 7.1% higher than they were last April. The lender reckons the surge is down to buyers rushing to complete before the end of the stamp duty holiday. The threshold for paying the tax drops to £250,000 at the end of June, then to £125,000 in September.

Beginning of the boom

The economy is building momentum, according to key signs including a surge in consumer spending in April. Unemployment has also dropped for the second month in a row. The Bank of England is likely to upgrade its predictions next week - it’s expected to forecast 7% GDP growth for 2021, 2% more than it said in February.

Staff shortages

Bars and restaurants are struggling to recruit enough staff ahead of reopening fully next month. They’re expecting huge customer demand, but say they might have to limit opening hours. 1 in 10 hospitality workers has left the industry in the past year due to the pandemic and Brexit, either moving into other sectors or leaving the UK altogether.

Amazon profits triple

Stay-at-home habits have driven a surge in sales for Amazon, which has reported that its profits have tripled. From grocery sales to streaming, the tech giant has been well placed during the pandemic and it expects the boom to continue. Apple, Microsoft, Facebook and Alphabet have all reported strong sales this week.