UK house prices hit two-year high as confidence picks up – business live

UK house prices hit two-year high as confidence picks up – business live

House prices across UK rose by 4.3% in year to August, Halifax reports, taking them close to the record high in June 2022

Poppy Gustaffson, the co-founder and chief executive of British cybersecurity firm Darktrace, is to leave the company following its $5.3bn (£4.2bn) sale to US private equity business Thoma Bravo.

Gustaffson, one of the most well-known figures in the UK tech industry, founded Darktrace in Cambridge in 2013 with the backing from the late billionaire tycoon Mike Lynch’s Invoke Capital.

In April, Thomas Bravo, which walked away from previous takeover talks in 2022, agreed a deal for the London-listed company which had been considered by analysts to be undervalued by investors.

Gustaffson is to step down with immediate effect and will be replaced by Jill Popelka, Darktrace’s current chief operating officer.

Gustafsson, who was awarded an OBE for services to cyber security in 2019, says:

““Darktrace has been a huge part of my life and my identity for over a decade and I am immensely proud of everything we have achieved in that time.

“Now is the right time to hand over the reins so Jill can lead Darktrace through its transition into private ownership and beyond. I remain Darktrace’s number one fan.”

“Today’s figures indicate that the UK property market is continuing on its road to recovery. Last week, data from the Bank of England revealed that mortgage approvals have risen to the highest level since the mini-Budget in September 2022. As well as this, many are confident that there will be further cuts to the base rate before the end of the year, which should help stimulate the housing market even further. In fact, when we recently surveyed a panel of experts, 80% predicted that there will be at least one more base rate cut before the end of 2024.

“There’s a chance that the upcoming October Budget could dampen buyer confidence slightly, as we wait to see what the new government has in store for our finances, but I think that any stall in the market is likely to be temporary.”

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