Thursday, June 30, 2005 
The Guardian: House price inflation hits new low UK house prices cooled in June, reducing annual price inflation to its lowest level in nine years, according to figures published today by Nationwide building society.
Times: House prices fell in June says Nationwide New evidence of a stalling British economy and a fall in consumer confidence emerged today as the Nationwide Building Society reported that house prices fell by 0.2 per cent in June.
BBC NEWS | Business | US Fed ready for ninth rate rise The cost of borrowing in the US looks set to rise for the ninth straight month, as the Federal Reserve meets in Washington to set US interest rates.
BBC NEWS | Business | UK property market 'cool' in June UK house prices dipped by 0.2% in June, according to the Nationwide, while annual price growth fell to 4.1% - the lowest level since July 1996.
Wednesday, June 29, 2005
BBC News: US growth returns to robust form Strong exports and home-building has kept the US economy growing faster than expected, official figures show.
BBC News: UK retail sales fall accelerates UK retail sales recorded their biggest year-on-year fall in 22 years during June, according to a CBI report.
BBC News: Fears over 650 job cuts at Sony Up to 650 jobs could be lost at the electronic giant Sony's plants in south Wales, BBC Wales understands.
Telegraph: Housing 'at risk from job worries' Wilson Bowden, Britain's fifth largest housebuilder, yesterday warned that unemployment fears could undermine the fragile housing market.
Telegraph: Stagflation fears rise as ECB rules out rate cut Surging money supply data released by the European Central Bank yesterday have renewed fears of inflationary pressures in the eurozone, dashing hopes of an early interest rate cut to lift Germany, Italy and Holland out of slump.
The Herald - Letters: Public-sector pay is not so high I should be grateful if you would correct some misleading information in your article, Revealed: the £1bn price tag for 11,000 rise in bureaucrats (June 27). The article referred to salaries rising north of the border by nearly £1bn (7.8%) in 2004.
Tuesday, June 28, 2005
This is Money: Consumer debt propels Debt Free Direct Debt advice group Debt Free Direct (DFD) has reported surging profits on the back of the UK's increasingly debt-stricken consumers.
In2Perspective: Forum to discuss global housing crash The prosect of a worldwide property crash will be on the agenda at a top-level meeting of regulators and central bankers in London when the ten-nation Financial Stability Forum meets on 8 and 9 September.
Guardian: Property price fears as mortgage lending falls The number of mortgage approvals fell last month by almost a quarter compared with a year ago, reviving fears that the housing market may suffer a sharp fall rather than the expected gradual downturn.
Independent: Persimmon predicts resilient housing market Persimmon, Britain's biggest housebuilder, delivered the most reassuring trading update of the industry yesterday when it predicted resilient house prices and an upturn in housing sales in the autumn.
Reuters: Overstretch in U.S. housing mirrors UK The U.S. housing boom need not end in some dramatic crash -- if the example of Britain or Australia is anything to go by -- but even a flattening of prices may feel as painful for overstretched homebuyers.
BBC News: Bank of England warns on debts Personal and company debts in the UK could prove difficult to pay off if the economy stutters, the Bank of England warned on Monday.
BBC News:
Oil prices stuck above $60 mark Oil prices are continuing to hover close to their record level of $60.95 as concerns about supply persist.
Monday, June 27, 2005
Reuters.co.uk: Home loan approvals down 24 pct y/y in May -BBA The number of loan approvals for home purchases fell in May by almost a quarter from a year ago, adding to growing evidence that the property market is running out of steam, data on
Reuters.co.uk: BIS - Threats loom over robust world economic outlook The world economy is on track to deliver another year of robust growth with subdued inflation, but it looks increasingly vulnerable to disruption, the world's central banker said on Monday.
Reuters.co.uk: Stagflation unlikely,Fed may need faster hikes Stagflation is unlikely to return to the global economy despite surging oil prices and masses of cheap credit, although in the United States incipient price pressures may demand tougher monetary policy action, the Bank for International Settlements said on Monday.
Reuters.co.uk: Oil hits record near $61 on robust demand Oil prices rose a dollar to a new record near $61 Monday, driven by the resilience of world energy demand in the face of high fuel costs and worries about oil policy under Iran's new hardline president.
Times: Housebuyers wait as prices fall A modest recovery in the housing market appears to have stalled, with a 0.2 per cent fall in house prices this month, a survey shows today.
Motley Fool: We Are All Americans Now! I knew that things were looking bad for the UK when The New York Times (NYT) started writing cautionary articles about our levels of personal debt!
BBC News: Oil prices surge to record level Oil prices have continued to climb on Monday, surging to a record on concerns that demand will outstrip supply.
Reuters.co.uk: House prices fall for 12th month-Hometrack House prices in England and Wales fell for the twelfth successive month in June, easing by more than 3 percent during the last year, a survey said on Monday.
This is Money: House prices back to 2003 House prices fell 0.2% in June, making it a full year of falls and taking prices back to 2003 levels.
Sky News: Home Prices Still Spiralling Down House prices have been dropping for the past 12 months and the market is showing no signs of recovering, new figures have revealed.
Sunday, June 26, 2005
RISMedia - Threat of Falling Market Concerns Homeowners British home prices have declined on average to $296,000 from a peak of $307,000 last June, according to a survey by the Hometrack research group.
ThisisLondon - Fears over global housing crash
: "THE alarming spectre of a worldwide crash in house prices will be on the agenda at a top-level meeting of regulators and central bankers in London, Financial Mail understands. "
SundayMirror.co.uk - BLAIRS LOSE £700K ON £3.6M MANSION TONY and Cherie Blair's dream home has crashed in value by £700,000 in just seven months.
Redifff.com: Globally, housing set for a crash! In the past three years, the total value of residential property in developed economies has increased by an estimated $ 20 trillion, to over $ 60 trillion.
Saturday, June 25, 2005
Sky News: Ups and Downs Ahead For Property Prices Property prices are set to fall by up to 12% in some areas of England in the next five years, it's predicted.
Telegraph | Money | Berkeley's first profit fall in 10 years signals end of house boom Berkeley Group, the country's fifth-largest house builder, posted its first drop in profits in 10 years yesterday, in another sign that the property boom has come to an end.
Guardian Unlimited | The Guardian | Mortgage arrears to curb Bradford & Bingley's profit A subdued housing market and an increase in the number of buy-to-let property owners getting into mortgage arrears will restrain profit growth this year, Bradford & Bingley admitted yesterday.
icThewharf - Property prices predicted to fall Property prices are set to fall by up to 12% in some areas of England during the coming five years, it has been predicted.
Friday, June 24, 2005
BBC NEWS | Business | Profit alert hits DIY floor firm Shares in DIY flooring retailer Floors2Go have plunged 40% after a profits warning sparked by weaker UK consumer spending and house prices.
Bloomberg.com: U.K. Berkeley Group Holdings Plc, Britain's fifth-biggest homebuilder, said fiscal full-year profit slumped 11 percent, the first decline in a decade, as the increased cost of borrowing ended a boom in U.K. house prices.
BBC News:Euro weakens on rate cut rumours The euro has fallen on speculation that Europe's central bank may cut interest rates to help boost the continent's flagging economies.
SKY News: Equity Releases Rocket The amount of money people are unlocking from their homes has soared 50-fold since 1993, figures show.
SKY News: B&B braced for arrears Bradford & Bingley is expecting increases in levels of mortgage arrears but has ruled out a surge in the number of homeowners in trouble.
The Scotsman: More Britons live a little by cashing in on value of homes High-spending home-owners are blowing more money than ever on holidays, cars and DIY by freeing up £1.2 billion every year using equity-release schemes, according to new research.
BBC NEWS | Business | BA ups fuel surcharge on tickets British Airways (BA) said rising oil prices have forced it to increase the fuel surcharge on airline tickets for the second time this year.
BBC NEWS | Business | Oil price hits $60 for second day Crude oil prices hit a record $60 a barrel for the second day on Friday, amid concerns that strong demand will continue over the coming months.
Thursday, June 23, 2005
10 Downing Street: Householders to 'sell their energy' Many UK households could one day make money by selling small amounts of power by using home generators, under plans released today.
Find a Property: Sheds The Answer To Space Race Space-hungry young homeowners are turning to stylish garden sheds in a bid to increase their living space...
Find a Property: Rents Rise In Student Towns Investors and parents take note: student rents have risen by ten per cent over the past three years...
The Scotsman: MPC split vote could signal early rate cutInterest rates could be cut as early as next month after it was revealed yesterday that two members of the Bank of England's monetary policy committee (MPC) voted for a rate cut at its last meeting.
Telegraph | Property | Beware thy neighbour It pays to be nosey about goings-on next door before buying a house - as the residents of one quiet hamlet found to their cost.
CNN Money (USA): Housing boom to continue The Mortgage Bankers Association predicts that the US housing market will stay hot another two years.
Wednesday, June 22, 2005
BBC News: Family home 'a thing of the past' About three quarters of Londoners think an average-sized three-bedroom family home is out of their financial reach, a study by charity Shelter found.
The Independent - Alliance & Leicester warns on rising bad debt charges: "Alliance & Leicester warned yesterday that its bad debt charges were rising faster than assets as it forecast flat first-half revenues."
BBC News: Prospects rise of cut in UK rates The prospect of an early cut in UK interest rates has been raised by the latest set of minutes from the Bank of England's rate-setting body.
Sluggish Sweden cuts its interest rate to low of 1.5pc Sweden's central bank yesterday cut interest rates half a point to an historic low of 1.5pc and slashed its growth forecast for 2005, fuelling speculation that the European Central Bank would soon follow suit.
Independent: Dream homes can be a nightmare The fantasy of buying abroad tempts most of us. But the reality can be tough, warns Stephen Pritchard
Are we in a House Price Crash? - Fubra expert Internet Consultancy Like many UK home owners you can be forgiven for being a little confused as to where the UK property market is heading.
BBC NEWS | Business | Dixons Group sees profits fall 8% Electrical retailer Dixons Group has reported an 8% fall in annual profits, and said its outlook for the current year remains "challenging".
The house price is right | This is Money: "With most commentators agreeing that the market peaked almost a year ago, these are staggering statistics. Even estate agents, notorious for their optimism, concede that it is now a buyers' market. "
BBC NEWS | Business | Struggling Ford cuts 1,700 jobs Giant US carmaker Ford has issued its second profit warning of the year and announced 1,700 job cuts among white-collar staff in North America.
Tuesday, June 21, 2005
The Motley Fool UK: More Bank Charges? Get A Better Account! Last Saturday's Moneybox programme on BBC Radio 4 featured two of my pet hates: banking charges and mobile phones!
Property slide 'may hit spending' A slowdown in house sales could trigger a drop in High Street spending, a Bank of England report has warned.
Telegraph: Brown borrows record £9bn a month to fund spending Government borrowing reached a record high last month as tax revenues came in far below Gordon Brown's forecasts, it was announced yesterday.
Sky News: Mortgage Bills Growing For Homeowners Homeowners are spending nearly a fifth of their income each month on mortgage repayments, figures show.
This is Money: Buying cheaper than renting Despite soaring house prices, it is still £37,000 cheaper to buy a property over 25 years than it is to rent one.
BBC News: Oil prices take breather near $60 Crude oil prices eased on Tuesday but prices remained close to the $60-a-barrel mark amid ongoing supply concerns.
Monday, June 20, 2005
This is Money: Owners face second-home ban Middle-class families dreaming of a bolthole in the country may face a ban on buying second homes.
Times: Wages grow faster than house prices House prices are rising more slowly than people’s wages, according to a survey of asking prices.
BBC News: Government borrowing hits record Government borrowing reached a record monthly high in May, according to the latest set of official figures.
Guardian: Bankruptcies to rise, with retail and leisure hit hardest Slower economic growth and higher interest rates have pushed up the number of business failures and will continue to do so throughout 2006, a leading business consultancy says today
BBC News: Oil price rises to two-month high The price of US crude oil has hit a two-month high, fuelled by a strong growth in demand for petrol as the key US summer driving season arrives.
Rightmove: House Price Index June2005 (PDF) Prices plateau as sellers face a 7 year wait for forst time buyers to catch up.
BBC NEWS | Business | Property slump 'may hit spending': "A slowdown in house sales could trigger a drop in High Street spending, a Bank of England report has warned."
Telegraph: High prices could leave housing market in the doldrums for seven years It will take seven years for the housing market to return to the level of activity of the past few years, according to the largest property website.
Guardian Unlimited Money - Property faces 7-year hitch: "Prices expected to grind to halt after survey reveals that house inflation has fallen below wage increases "
Sunday, June 19, 2005
BBC NEWS | Programmes | Moneybox | First Direct to charge for texts Around 450,000 First Direct customers who receive free mobile text messages are being told they will often have to pay for them in future.
BBC NEWS | Health | Nurses 'quitting to afford homes' Nurses are being forced to quit the profession because they cannot afford to buy homes, the Royal College of Nursing has warned.
Times Online - Double whammy threat to second home owners: "MINISTERS are preparing a double whammy on middle-class homeowners by targeting Britons who have bought second homes in rural areas or inherited property from relatives. "
Times Online: Is the global housing bubble set to burst?: "HAVING made a tidy packet from property in the UK, Daniel Lee is broadening his horizons. The 30-year-old entrepreneur from Wilmslow, Cheshire, is buying a £180,000 flat in The Torch, a new tower block being built in Dubai. "
Friday, June 17, 2005
BBC NEWS - DIY may boost council tax bills: "People who make substantial home improvements - such as loft conversions - may face higher council tax bills, it has been confirmed. "
This is Money - New tax for home improvements: "MILLIONS of families face a new stealth tax on their home improvements, the Treasury had to admit yesterday. For the first time, all home owners will be liable to pay extra council tax on any extensions and improvements they have made. "
The Motley Fool UK: Debt Is A Danger To Us All! : "Just before the General Election in 1997, British borrowers owed a total of £497 billion, made up of £417 billion of mortgages and £80 billion of unsecured debt, such as loans, credit cards and overdrafts."
Reuters.co.uk - House price deflation could threaten spending: "Property price inflation may soon turn to deflation and provide a further blow to household spending, further supporting the view the next interest rate move will be down."
This is Bristol - TONY AND CHERIE'S PROPERTY FALLS FLAT : Tony and Cherie Blair could lose up to £60,000 on their two luxury flats in Bristol, say city estate agents. The Prime Minister and his wife bought the two apartments, at the prestigious Panoramic complex in Park Row, for £525,000 about two and a half years ago.
Thursday, June 16, 2005
BBC NEWS - Oil price rises to two-month high: "The price of US crude oil has hit a two-month high, fuelled by a strong growth in demand for petrol as the key US summer driving season arrives. "
Telegraph - Opec fails to keep lid on oil prices: "The price of crude oil rose sharply yesterday, even though Opec, the oil cartel, promised to increase its production by half a million barrels a day. "
Times Online - House of Fraser adds to retail gloom: "House of Fraser, the designer label retailer, has warned that conditions on the high street remain 'challenging' as it reported a 3.2 per cent fall in like-like-sales for the first 19 weeks of the year. "
FT.com - High Street discounts fail to boost UK retail sales: "UK retail sales failed to significantly recover in May even though widespread discounts by clothing stores lured Britons into updating their summer wardrobes."
Economist.com - In come the waves: "NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?"
Economist.com - After the fall: "PERHAPS the best evidence that America's house prices have reached dangerous levels is the fact that house-buying mania has been plastered on the front of virtually every American newspaper and magazine over the past month. "
ThisisLondon - Mortgage that's eight times pay FIRST-time buyers could end up with mortgages up to eight times their salaries by borrowing on their parents' income.
Telegraph: Demise of Rover inflates unemployment figures The collapse of Rover has hit official unemployment figures, as 6,000 people in the West Midlands signed on to claim benefits last month. As the news broke, the Conservatives criticised the Government's support for manufacturing industry.
Guardian Unlimited: Mortgage launches with property crash protection A new mortgage offering borrowers protection against negative equity has gone on the market today.
Wednesday, June 15, 2005
The Independent: Things look brighter for first-timers Hard-pressed first-time buyers have reason to thank Gordon Brown. The Chancellor raised the threshold for stamp duty in his most recent Budget, and has now gone on to announce a new, Government-backed shared-ownership scheme to help newcomers to the housing market.
The Independent: Kerala begins to feel the effects of the property boom Five years ago, the Indian property market was one that went right under the overseas investors' radar.
Bloomberg.com - U.K. Jobless Claims May Have Risen for 4th Month, Survey Shows: "U.K. jobless claims probably rose for a fourth month in May, the longest stretch of gains in 12 years, as slowing consumer spending damps the economic outlook, a survey of economists showed. "
Tuesday, June 14, 2005
BBC NEWS | Business | Opec set to raise oil production Opec, the organisation of oil-exporting nations, is expected to raise output when it meets in Vienna on Wednesday.
The Motley Fool: When Debt Goes Crazy! One thing that I worry about is the number of young people who are struggling with huge debts. According to a recent report from accountants PricewaterhouseCoopers, the number of young people going bankrupt doubled in the two years between 2001/02 and 2003/04.
Times: Inflation holds steady in May The annual rate of inflation held steady for the third month in a row in May, at 1.9 per cent, crucially just below Chancellor Gordon Brown's 2.0 per cent target, despite higher food, drink and cigarette prices kicking in after the Budget in March.
FT.com: Pessimism pervades UK housing market Estate agents and surveyors were more pessimistic in May about house prices than at any time since November 1992, the Royal Institution of Chartered Surveyors reports on Tuesday.
The Herald: House prices in Scotland rise despite fall in the rest of UK Scottish house prices are still rising faster than anywhere else in the UK despite reports of property price falls reaching their highest level since the 1990s housing market crash.
Sky News: Property Market Falling Chartered surveyors are reporting the highest levels of house price falls since the 1990s property crash, a survey has shown.
Monday, June 13, 2005
Retail Bulletin: London retail sales fall back Sales mixed across capital's retailers. Like-for-like retail sales in Central London declined by 0.5 per cent year-on-year, according to figures compiled by the London Retail Consortium.
Citywire: Government data confirm sharp drop in house prices Falling house prices have slowed the annual rate of house price growth dramatically according to the latest figures from the Office of the Deputy Prime Minister.
Guardian Unlimited: House price growth drops 50% House prices fell in April and annual price inflation dropped almost 50% from March, according to official figures published today.
The Motley Fool UK: British Savers Are Missing Out! According to new research from Investec Private Bank, over 6½ million savers are losing out on £2.9 billion in interest.
BBC NEWS | Business | Sharp fall in house price growth Annual house price inflation slowed sharply in April, according to the latest figures from the Office of the Deputy Prime Minister (ODPM).
Telegraph: How low can you go? You can beat the Bank Security, peace of mind and interest that undercuts the Monetary Policy Commission's base rate sound ideal. But do your sums, says Alison Steed
EDP24: Council aiming to build houses A district council is considering becoming a house-builder in an effort to cut council tax.
Find a Property: Buyers Should Aim For A Bargain As confidence creeps tentatively back into the housing market, will there be a stand-off between buyers and sellers?...
WSWS: Home foreclosures surge-no housing boom for poor families in the US A little-reported aspect of the housing boom in the US is the corresponding surge in home foreclosures.
Sunday, June 12, 2005
Citywire: Buy to Let: watchdog warns landlords of tenants' rights Buy-to-let investors should check their tenancy agreements to make sure they do not contravene the unfair terms in consumer contracts legislation, because the Office of Fair Trading is getting hot on checking up in this area.
PropertyFinder.com: Housing Market Breathes a Sigh of Relief (PDF) Buyers and sellers meet in the middle as fears on interest rates and politics subside.
Find a Property - Lessons From Down Under A new report on the Australian housing market could contain valuable lessons for the UK market, according to RICS...
Scotsman.com: Where now for US? Don't ask Greenspan Whichever way you cut it, Alan Greenspan, chairman of the US Federal Reserve, is going to struggle to knock the optimism (if such it is) out of the US bond market.
DeHavilland: Homeowners expect property prices to rise Most homeowners expect their properties to rise in value over the next year, according to new research.
Saturday, June 11, 2005
BBC NEWS | Programmes | Moneybox | Credit card scrapped for 70,000 Internet bank Intelligent Finance is closing down its unique 'offset' credit card.
Guardian Unlimited: Sydney's experience may point the way to a soft landing Sydney Morning Herald reporter Cosima Marriner, currently working at The Guardian, reports how the city's boom has so far not turned to bust
Property finance news: Homeowners expect house prices to rise Most homeowners expect their properties to rise in value over the next year, according to new research.
Friday, June 10, 2005
BBC: US trade gap increases to $57bn The US trade deficit widened to $57bn (£31bn) in April, marked by record rises in both imports and exports, the US Commerce Department said.
Sky News: People not saving Only half of Britons are on course for an adequate income during retirement, a report has said.
Motley Fool: Leaping Off The Housing Ladder! I'm a great believer in putting my money where my mouth is...
icCroydon: We're using eBay so we can sell our home A couple are so desperate to avoid paying thousands of pounds to eager estate agents that they are selling their house on eBay.
Taxes and inflation set to rise Southern economies dominate growth despite falling house prices
In2Perspective: Spending will drop to 10-year low Consumers face the roughest ride in a decade as higher interest rates and a cooling housing market dent confidence and hit spending power, warn Experian.
What Mortgage: British homemovers spend over £10 billion a year Last year we spent over £10.6 billion on moving home – and that’s before we’ve actually bought the house, says the Woolwich.
Independent: Don't talk us into recession, CBI chief tells doom mongers Britain's biggest employers' group yesterday accused some commentators of "talking the economy down", warning their fears could become a self-fulfilling prophecy.
Thursday, June 09, 2005
BBC: Bank maintains UK rates at 4.75% The Bank of England has kept UK interest rates on hold at 4.75% for the tenth month in a row.
BBC: Bank set to keep UK rates on hold UK interest rates are expected to remain at 4.75% following the latest meeting of the Bank of England's rate-setting committee on Thursday.
Guardian Unlimited: Retail sales 'to slow next year too' Consumers are facing the prospect of the roughest ride in a decade as higher interest rates and a cooling housing market dent confidence and hit spending power, a leading research and information group warned last night.
Scotsman.com: House purchasers 'must pay deposit' to stop dirty tricks Housebuyers should be forced to pay an initial deposit when they purchase a property to stop the soaring problem of gazundering and gazumping, a leading estate agent has demanded.
icWales: Investors hanging on to buy-to-let More than three-quarters of investors are continuing to keep money in property despite the slowdown in the housing market, research showed yesterday.
Wednesday, June 08, 2005
Latest Business News and Financial Information | Reuters.co.uk British households are spending more per week on average than the money they take in, the latest official data showed on Wednesday.
BBC NEWS | Business | Bad-debt levels batter loan firm London Scottish Bank is shutting eight of its branches after seeing a rise in its bad-debt levels and a fall in demand for new loans
This is London: Rates to remain on hold Marian Bell's swansong on the Bank of England's monetary policy committee, which kicks off its latest meeting today, looks set to go off with a whimper rather than a bang.
This is London: Berkeley downs tools at homes scheme Upmarket London housebuilder Berkeley has halted construction on key parts of its flagship redevelopment of the Royal Arsenal at Woolwich, putting back completion of the next phase by several months.
This is London: RBS warns on high rates pain Royal Bank of Scotland warned today that UK consumers are beginning to feel the bite of higher interest rates and a tighter economy.
Telegraph: Bank urged to cut interest rates The Bank of England begins its monthly two-day meeting today amid calls for a cut in interest rates to see off a dramatic post-election slowdown in the economy.
The Independent: Don't rush to turn your home into your pension The hype surrounding self-invested pensions plans (SIPPs) may persuade people to rush into inappropriate and expensive investment decisions, experts are warning.
ThisisLondon: House price slump halts spending Consumers are tightening their belts in the face of cooling house prices, shunning spending in favour of reducing their debts, research has showed.
Tuesday, June 07, 2005
Sky News: World's Biggest Car Maker Cuts 25,000 Jobs The world's biggest car maker has announced it will cut at least 25,000 manufacturing jobs in the US.
This is Money: House price inflation lowest in four years House prices fell by 0.6% in May bringing the annual rate of house price inflation down to 5.7% - the lowest rate of growth for four years.
BBC: Halifax sees 'flat' house prices House prices fell 0.6% last month, according to the Halifax, although prices have fallen just 0.1% since the start of the year, the bank said.