House prices in England and Wales slipped by 0.2% in May, according to Land Registry data. The average cost of a home stood at £165,314 during the month, with the decline taking the annual rate of inflation down to 8.2%. However, the Registry points out that May was the seventh month in a row in [...]
In its latest overview of the UK property market, Assetz has reported that the average value of a home was 7.8% higher in May than a year earlier. The firm, which compiles monthly average figures from five of the major house price indices, calculates that the annual rate of growth dropped back from 9.1% in [...]
House prices were 10.1% higher in April than a year earlier, having gained 0.4% during March. New figures from the Department for Communities and Local Government put the average cost of a UK home at £207,516, taking into account a 0.9% rise over the three months to the end of April. However, the quarterly increase [...]
House prices dipped by 0.4% in May, following a 0.1% decline in April, Halifax has reported. However, taking an average of the latest three months, the value of the typical home increased 6.9% on the same period of 2009, reflecting the biggest annual rate of change since October 2007 (8.9%). Prices are therefore 8.3% above [...]
Nationwide’s latest house price index shows prices rising by 0.5% in May, taking the average value of a home to £169,162. The increase leaves prices just 9.5% below their 2007 market peak, although the annual rate of inflation slipped back to 9.8% in May, down from 10.5% a month earlier. Meanwhile, the more reliable three-monthly-on-three [...]
Nationwide Building Society has today announced a fall in annual profits. The UK’s largest building society said underlying pre-tax profits fell to £212 million for the year to 4 April, compared with £393 million in the same period a year earlier. The company said it expects the “lower levels of profitability” experienced in the last [...]
British Airways, which is facing fresh strikes over the next few weeks, has today reported a record £531 million annual loss. The latest results, which cover the 12-month period to the end of March, include the estimated £40 million loss from the cabin crew strikes which took place during the month. However, they do not [...]
The economic downturn appears to still be battering the airline industry after Air France-KLM reported a net loss of €691 million for the three months ending March, compared to a loss of €479 million in the same period a year ago. This took its annual loss for the full year to €1.55 billion (£1.33 billion) [...]
New Chancellor George Osborne gave a speech to business leaders at the Confederation of British Industry’s (CBI) annual dinner last night and has outlined plans to reform corporation tax. He told business leaders that the new Government is committed to lower and simpler corporate tax rates. At the emergency Budget, on 22 June, Mr Osborne [...]
The housing market in Scotland is showing signs of a weak recovery, according to the latest Scottish House Price Monitor from Lloyds TSB Scotland. In the first quarter of 2010, the value of the average Scottish home rose 0.7%, compared with the previous three months, to £157,801. The increase is a shadow of the 5.9% [...]
Halifax has reported that UK house prices increased by an annual 6.6% in April. However, a month-on-month fall of 0.1%, took the value of the typical home down to £168,202, or £13,539 above its April 2009 trough. Commenting on the figures, the lender’s housing economist, Martin Ellis, says: “The underlying rate of house price growth [...]
The Land Registry has published house price data for March showing a positive annual change of 7.5% and marking the fifth consecutive month of growth. However, the monthly change stood at minus 0.6%, taking the average house price in England and Wales down slightly, to £164,288. The East Midlands was the region with the most [...]
The UK’s annual budget deficit soared to £162.4 billion in the 12 months to the end of March, but fell short of the £167 billion forecast in last month’s Budget. With the deficit is at its highest since the Second World War and total government debt now at £890 billion (or 62% of GDP) all [...]
Halifax has reported that house prices rose by 1.1% in March, compared to a month earlier. The increase partly offsets February’s 1.6% fall and takes the average value of a home to £168,521. According to the lender, price rises have been recorded for eight of the past nine months, producing an annual gain of 5.2%. [...]
In February, the value of the average home in England and Wales rose 7% year-on-year, to £164,455, according to new figures from the Land Registry. The increase points towards a “strengthening in the housing market”, although the monthly house price change was negative, at -0.3%. On a regional basis, Wales was the region with the [...]
It has emerged today that Eric Daniels, chief executive of Lloyds Banking Group, will waive his £2.3 million annual bonus. The move comes after Royal Bank of Scotland chief executive, Stephen Hester, opted not to take his £1.6 million bonus. The decision by 49-year-old Hester came just one week after Barclays chief executive John Varley [...]
There was further evidence of Asia leading the global recovery today after Taiwan’s economy grew at an annualised rate of 18% in the final quarter of 2009. The strong performance was fuelled by demand for hi-tech products from top buyer China and other key export markets in the region. Last month, Taiwan exports experienced their [...]
In the first of the 2010 house price surveys, Nationwide has announced that the average price of a home rose by 1.2% in January, compared with a month earlier. The ninth consecutive monthly increase puts the average value of a UK home at £163,481, showing a year-on-year gain of 8.6% (up from 5.9% in December [...]
In its latest survey of the UK housing market, Halifax reports that in December house prices increased for the sixth consecutive month. The rise took the value of a typical home to £169,042, up 9.4% (£14,552) on the low of April 2009, and 1.1% higher on an annual basis. Taking the three-month-on-three-month measure, prices rose [...]
UK house prices rose by 1.4% in November compared to a month earlier, according to Halifax. The average cost of a home came in at £167,664, up 4.2% in the first 11 months of 2009. The fifth consecutive monthly increase also eased the annual decline to 1.6%; a significant improvement on April’s low of minus [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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