NAEA: NAEA comment on RICS buy-to-let ‘pensions’ bolster market "The last quarter has seen landlords hanging onto properties they let rather than selling them. However next year is going to be the toughest year yet for landlords with older properties who let to sharers and students. “The mandatory licensing of houses in multiple occupation (HMO’s) will mean more red tape for landlords and this may encourage some to sell properties that fall under this category.

Reuters: Shopper numbers fall Consumers are timing their shopping outings to take advantage of retailers' frenzied promotional activity in the all-important run-up to Christmas, data showed on Tuesday.

Reuters: Bank's Walton sees no rush to move rates "I think in the current circumstances, where it looks as though the economy has regained a bit of momentum ... where inflation is above target, I don't think we should be rushing to do anything precipitate."

Reuters: Consumer confidence stuck at 2-1/2 year low Consumer confidence unexpectedly remained stuck at a 2-1/2 year low in November ahead of the crucial Christmas shopping season, a survey showed on Wednesday.

First Rung: Slow motion After September's pick-up, the property market slowed once more in October, according to Moneyextra. After the fillip given to the market by August's base rate cut, many had been looking for another rate cut before the end of the year. However, as that prospect receded, so did mortgage market excitement.

OECD: RECENT HOUSE PRICE DEVELOPMENTS: THE ROLE OF FUNDAMENTALS In the vast majority of OECD economies, house prices in real terms have been moving up strongly since the mid-1990s). Because of the important role housing wealth has been playing during the current upswing, this paper will look more closely at what is underlying these developments, with a view to shedding some light on whether or not prices are in line with fundamentals.

FT.com: UK house prices are overvalued, warns OECD House prices in the UK are “significantly overvalued” warned the Organisation for Economic Co-operation and Development on Tuesday in a new analysis of the world housing boom.

BBC News: BA to axe one-third of managers British Airways is to cut almost 600 management jobs by March 2008, the UK airline has announced. The job losses - 35% of the group's 1,715 managerial posts - are the first big move by new chief executive Willie Walsh to cut the firm's costs.

Qck.com: Mortgage approvals rise Mortgage approvals were at their highest level for nearly 18 months in October, new figures have revealed. The Bank of England (BoE) has announced that Britons took out 113,000 mortgages worth £7.6 billion last month, suggesting that the housing market is stabilising.

BBC NEWS | Homebuyers told not to lie on pay Homebuyers have been warned by the Financial Services Authority (FSA) not to lie about their income when applying for a self-certification mortgage.

FT: Money supply bolsters case for ECB rate rise “Money supply and excess liquidity are still there in spades and the acceleration in private sector credit reinforces the idea that the monetary policy stance is still stimulative,” said Neville Hill, economist at CSFB in London. “It will certainly be used to justify the rate hike that we are all expecting later this week and this strength is consistent with a few more rate rises in the year ahead.”

Reuters: Barclays cost rise takes shine off forecast ...He said Barclaycard rejected 55 percent of applications for UK cards, its highest rejection rate in recent years and above rejection rates of about 35 percent at the low end of the cycle...Kheraj said the rise in Barclaycard charges was because the average balance of delinquent accounts had risen, recovery rates for bad debts were lower and accounts had moved from delinquency to loss faster.

FT: OECD upbeat on world growth prospects The Organisation of Economic Co-operation and Development on Tuesday presented a relatively upbeat view of the prospects for the world’s 30 wealthiest nations but warned the risks to its expectation of a prolonged world expansion were “substantial”.

This Is Money: Barratt chief targets 'scruffy' Green Belt David Pretty's suggestions may cause alarm among conservationists, but the Barratt Developments chief executive says his idea is just one part of an 18-point plan aimed at loosening up the creaking planning system and creating more first-time buyers.

Reuters: House prices flat in November-Nationwide The annual rate of house price inflation slipped back to 2.4 percent after picking up to 3.3 percent in October -- a rise that both the Nationwide and analysts concluded was temporary. Richard McGuire at RBC Capital Markets called the figures "weaker than expected and supportive of the view that the recent uptick in house price inflation represents a short-lived response to the August rate cut."

Telegraph: Today's twentysomethings have never had it so bad Before the last election, I wrote about the iPod generation, plugged into their music players, seemingly oblivious to the world. No one cares about the young unless they are wearing hoodies, binge drinking, getting pregnant or failing dumbed-down GCSEs.

This is Money: Pensions fears boost buy-to-let The pensions crisis is boosting the buy-to-let market as investors opt to put their money into bricks and mortar, a trade body claimed today. The Royal Institution of Chartered Surveyors said many landlords viewed their rental properties as being a significant part of their pension.

BBC News: Gold surges to highest since 1983 Gold prices have surged past the $500-an-ounce mark, and more gains are predicted as investors look to protect themselves against inflation fears.

BBC: Concerns over Indian oil output ONGC's oil output has stalled at about 520,000 barrels a day in the past couple of years and is expected to decline as older fields near the end of their productive lifespan. Mr Aiyar voiced concerns about a fall in domestic output at a time when India's rapidly expanding economy is fuelling huge demand for energy.

Channel 4: Majority of adults in 'debt denial' One in three people have admitted lying to their partner about their finances, according to new research. A poll of 2,700 adults revealed that most were in "debt denial", lying about their financial situation to family, friends and even financial advisors.

This Is Money: Consumer debt fuels Debt Free Direct 'The average age of applicants is now in the mid-20s where it used to be in the early-30s and we are now seeing an average debt of around £37,000, up from about £30,000.'

Money Week: Gordon Brown needs to face the reality of inflation The biggest public sector union, Unison has already said it is looking for “significant” wage increases. And if I was them I would be too. Brown may say that if you strip out oil, inflation hardly exists. But you can’t just strip out all the things going up in price and then say that inflation doesn’t exist. It does exist. And it isn’t going away...

Reuters: BoE's Barker-Energy, wages big uncertainties -paper The rise in energy prices and the path of UK earnings growth are two big uncertainties for Britain's economic outlook, Bank of England Monetary Policy Committee member Kate Barker was quoted as saying on Monday.

Reuters: Investors attack retreat on reporting rules Investors reacted with surprise and dismay on Monday to a retreat by Chancellor Gordon Brown on a proposed change in corporate reporting rules meant to cut investment risk for shareholders...The OFR would have required companies to detail future strategy and risks, including non-financial information.

This is Money: Property prices end 16-month slide Further evidence the housing market is stabilising emerged today as a survey showed prices had ended their 16-month slide. Property website Hometrack said house prices remained static during November, ending 16 consecutive months of price falls.

BBC NEWS | Business | Rush to gold pushes prices higher The price of gold has continued its relentless climb and looks set to pass the $500-an-ounce level this week.

BBC NEWS | Business | Chancellor gives ONS independence Chancellor Gordon Brown has announced that the Office for National Statistics will be made independent of government, in a speech at the CBI's conference.

Reuters: House prices down 2.5 percent on year House prices in England and Wales were flat on the month in November, leaving property prices down 2.5 percent on the year, a survey showed on Monday.

The Economist: Giving thanks, despite the monetary murk The past week has brought signals of a shift in monetary policy in both Europe and America, leaving traders anticipating higher rates in the euro area and a levelling-off across the Atlantic. Monetary guardians are struggling to read the outlook for inflation, but things could be worse.

This Is Money: Weak pound spurs High Street gloom STERLING'S slide against the dollar is casting a cloud over the High Street for Christmas. Higher taxes, petrol costs, utility bills and interest rates have already hit consumer confidence. Now retailers face a profits squeeze as their pounds buy fewer cheap goods in the Far East.

Channel 4: Blacklist for loan default students Graduates who default on student loans could be blacklisted for credit if a proposed shift in policy gets the go-ahead. The Government's Student Loans Company (SLC) wants to change the rules so that it can pass on details of bad debtors to credit reference agencies.

Money Week: Oil prices – where now? With the background so different to just a few months ago, prices have fallen back from their peaks. Questions on whether this is the start of a gradual slide in prices are increasingly being asked. A slide in my view is unlikely because although on a day-to-day basis volatility in oil prices will continue, at the fundamental level it is probable that we are entering into a period of high energy costs.

Money Week: Who's who on the MPC The balance between hawks and doves on the Bank of England’s Monetary Policy Committee has far-reaching implications for Britain’s economy – currently at a critical juncture, with slowing growth, subdued consumer spending, rising unemployment, a stagnant housing market, and inflation above target level.

Money Week: Housing bulls have got it wrong The second story of interest is the figures out from Nationwide showing that, by its measures, house prices are on the up again: if you believe the mortgage company’s figures, prices jumped 1.3% in October, pushing the annual rate of growth up to 3.3%. The newspapers faithfully reported this news with headlines suggesting that all is now well with the world...

Credit Management & Debt Collection Business Industry News - Consumers ignore warnings of soaring mortgage repossession orders to transfer credit card debt to home loans: Despite soaring levels of mortgage repossession orders, the total value of approvals for mortgage loans has rocketed by 40% (from £6.7bn - £9.4bn) during October 2005 and the corresponding period last year, whilst the actual number of loan approvals has risen by 23%, according to the latest statistics issued today by the British Bankers' Association

Firstrung: Buy to let providers ask for rent to only match mortgage payment A substantial number of mortgage lenders have relaxed the terms of their buy-to-let deals, sparking concerns among industry experts that property investors are becoming increasingly vulnerable to small fluctuations in interest rates or modest hikes in unemployment. As competition in the buy-to-let market has intensified, many of the biggest providers have lowered the demands on the level of rental cover expected from their properties and lifted their levels of permitted borrowing as a proportion of the value of the property.

The Business - Business blames Brown as economy slows down : "BRITAIN'S top business leaders have rounded on Chancellor Gordon Brown this weekend, accusing him of failures on tax, pensions, energy policy, productivity and public spending."

The Business - Economists warn of world recession as G7 set to meet THE risk of a global recession has increased significantly, several leading forecasters are warning ahead of next weekend’s Group of Seven meeting in London.

BBC NEWS | Business | Gas prices 'may spark recession' A Qatar firm that is to supply a fifth of Britain's future gas warns high prices could spark a global recession.

This is Money - The true cost of lodger from hell: "HAVING a lodger may seem like a great idea to help pay the mortgage, but when things go wrong you can be left massively out of pocket. "

FT.com - UK growth set to be weakest since 1992: "The UK economy grew below trend for a fifth successive quarter in the three months to September as net trade disappointed but consumer spending appeared to have turned the corner, according to official figures published on Friday."

FT.com - King backs Brown on public pay restraint: "Mervyn King, the governor of the Bank of England, gave his support to Gordon Brown's call for a limit on public-sector pay rises yesterday and warned all wage bargainers that the Bank intended to keep inflation at its target of 2 per cent."

Credit Management & Debt Collection Business Industry NewsDespite soaring levels of mortgage repossession orders, the total value of approvals for mortgage loans has rocketed by 40% (from £6.7bn - £9.4bn) during October 2005.

Yahoo Finance: UK GDP figures below trend: "Britain's economy grew by 0.4% in the three months to September, making it almost certain chancellor Gordon Brown will have to revise down his economic projections in his December pre-Budget statement said economists"

Independent Online Edition > Business News: "The British government must tackle its public finance deficit, the European Union's economic commissioner said yesterday. "

CEN News : City Edition : House price fall defies predictions HOUSE prices in Cambridge have fallen slightly despite a new market survey claiming to have found "signs of recovery".

Independent: King urges wage restraint in face of energy price rise The Bank of England yesterday issued a stark warning it would raise interest rate if workers won inflation-busting pay rises to offset the surge in energy costs. Mervyn King, the Bank's Governor, told MPs the Monetary Policy Committee would monitor both wage levels and oil and gas prices over the coming months.

Reuters: Bank's King says rates may rise Interest rates might have to go up if upside risks on inflation materialise, Bank of England Governor Mervyn King said on Thursday.In testimony to parliament's Treasury Select Committee, King said October's dip in the inflation rate should not be interpreted as meaning that price pressures had necessarily peaked.

Reuters: No need for rate cut now, Walton says Bank of England Monetary Policy Committee member David Walton said in a newspaper interview on Thursday he saw no pressing need for an interest rate cut now and the central bank could move rates in either direction.
"I think the Committee is in a good position to react in either direction on interest rates depending on how the risk materialises," the Belfast-based Irish News newspaper quoted Walton as saying.

ThisisMoney: Cold snap could push oil price to new high THE oil price could rocket to fresh highs above $70 a barrel, City analysts warn today. They say an expected cold snap this winter will put renewed pressure on tight supplies, driving crude prices higher. Ongoing geopolitical tensions in the oil-rich Middle East will also buoy the market.

ThisisMoney: UK outpaced as economy falters THE scale of Britain's economic slowdown became clear last night as a report showed UK growth is now being outpaced by almost every other major country. The UK has fallen behind France and Germany and is only barely faster than Italy's struggling economy.

ThisisMoney: Dixons crisis as sales slump 3% THE SALES crisis at Dixons is continuing into the Christmas season as all the High Street retailer's store businesses report worrying slumps over the past six months.

Indpendent: Downbeat Dixons tells shoppers not to expect Christmas bargains The chief executive of DSG international, the former Dixons Group, has warned shoppers not to expect a sea of festive bargains despite unveiling a further slump in UK sales.

Independent: Brown warns public sector on pay rises as rate cut prospects fade Gordon Brown warned public sector unions yesterday not to seek inflation-busting pay rises as the Bank of England poured cold water on hopes of a festive cut in interest rates. The Chancellor wrote to the public sector pay bodies telling them to assume inflation would hit the 2 per cent target - even though it has been above that for four straight months.

NEWS.com.au: Sydney house prices falling House prices will keep falling in New South Wales as supply grows, helping buyers return to the market, a report released today shows. Figures from the Real Estate Institute of New South Wales (REI) show a decline in median house and unit prices in the September quarter in Sydney and NSW overall.

Bloomberg.com: U.K. Property Crash Is Canceled? Don't Bet on It Everybody relax. The British housing crash has been canceled. We can all get back to browsing real- estate brochures, and calculating how much richer our house has made us in the last five minutes.

FirstRung.Com: Haart missing the beat The chief executive of the estate agency group Haart recently made available for publication his assumptions and predictions as to which direction he anticipates the UK housing market heading in 2006.

Reuters: Consumers to cut Christmas gift spending Scrooge may get the upper hand this Christmas as consumers expect to cut spending on gifts for the first time in a decade. And retailers hoping that a recent cold snap will rescue the crucial Christmas trading period are in for a disappointment - figures from consultants Deloitte suggested on Wednesday that Christmas gift spending would fall by 400 million pounds this year.

Reuters: Public pay should not be inflationary - Brown Public sector pay deals should assume inflation of 2 percent and should not contribute to overall price pressures in the economy, Chancellor Gordon Brown said on Wednesday.

FT: BoE says uncertainty clouding rate outlook In deciding to stay its hand, the committee noted that there was uncertainty about prospects for consumption because “somewhat stronger retail sales and housing market indicators contrasted with weaker car sales and consumer confidence data.” However, Bank governor Mervyn King has let it be known he is unconvinced the UK consumer is as cowed as anecdotal evidence from the high street currently suggests.

Money Week: What’s likely to be in the Pre-Budget Report? ...and unemployment (if there’s anybody left who believes the official data)...Before suspiciously strong public finance data released on Friday 18th November...The ECJ is likely, in the near future, to rule on corporation tax. This could prove very significant according to Price Waterhouse Coopers

Reuters: Interest rates on hold for now Minutes of the Monetary Policy Committee's November 9 and 10 meeting published on Wednesday showed all 9 members voted to keep rates at 4.5 percent for the third month running, after not even discussing a move in either direction.

Reuters: Bank's Walton sees steady rates for now Echoing recent comments from other policymakers emphasising that keeping inflation in check is the central bank's prime remit, Walton dismissed businesses' pleas for lower rates to boost consumer spending, which he said was in any case picking up. "We are seeing some signs that the economy is recovering. We also have to be careful though because inflation is above target and we need to make sure it comes back to target,"

Times: Home is where the disaster is I was staring miserably into a bowl of porridge yesterday morning when suddenly my despair lifted and the world seemed a brighter place. It was all because I had just read that house prices are rising again, by 3.3 per cent over the past 12 months, according to the Office of the Deputy Prime Minister. "Confidence is back," one estate agent was bragging. "Once again, pessimists have been left out in the cold."

Telegraph: Factories cut output as gas costs surge 40pc to new high Manufacturers were putting the brakes on production last night in an attempt to save money as wholesale gas prices surged 40pc to record highs yesterday. Total, the French gas supplier, said that UK power stations and factories were cutting production this week to reduce their demand for gas.

Guardian: Brown to face down critics over economy Gordon Brown plans to face down critics of his handling of the economy when he uses next month's pre-budget report to claim that Britain has emerged relatively unscathed from the problems caused by the tripling of the global oil price and the sharp slowdown in the housing market.

BBC NEWS | Business | Dixons group sees tough trading Dixons-owner DSG International has warned of continued tough trading as it reported a dip in underlying sales. Like-for-like sales - which ignore new store openings - for the 28 weeks to 12 November fell 3%. Total sales rose 4%

Findaproperty.com: Rental Returns Overestimated Recent research from Landlord Mortgages accuses some lettings agents of exaggerating rental returns...

Firstrung.com: House Price Crash-essential reading As the mailbag queries and comments grow at Firstrung it seems inevitable that Firstrung will identify with certain other sites that cover similar content.

SKY News: Brits Opt Out Of Pension Nearly half of Britons are not bothering with pensions. Many of those say there is no point in making any provision for their retirement, because they have no faith in the system.

Times: Northern Rock rapped over mortgage mix-up Sorting out a simple administrative mistake on his mortgage became a six-month, Kafkaesque nightmare for artistic director Ralph Oswick, due to the shortcomings of his lender, Northern Rock.

This is Leicestershire: Running up debt with little care Three quarters of bad debtors admit their financial difficulties are a result of living beyond their means, rather than unavoidable events such as unemployment or divorce.

The Argus: TV documentary reveals a new trend in property market Would you buy a house with a stranger? Most people would balk at the idea but Chris Morrow-Frost, of Bute Street, Brighton, agreed to consider doing just that for a new BBC television documentary.

National Association of Estate Agents: HOUSING MARKET TIGHTENS IN OCTOBER ...However, the average difference between asking price and sale price increased in October demonstrating that sellers still need to be more realistic about prices ...the number of house buyers on NAEA agents’ books fell by 0.5% in October, from 375 to 373 buyers per agent. This is compared with 551 per agent in October 2004 ...The first time buyer share of the market dropped to 9% in October.

Sunday Times: The Market Housebuilding figures across Britain have slumped, according to the Office of the Deputy Prime Minister. There were 45,300 new homes started in the three months to October, down 1% on the same period of 2004. Only 37,800 homes were completed, down 5%. The largest falls in completions were in London and northwest England.

Channel 4: Xmas shoppers tighten purse strings Some 45% of shoppers are expecting to spend less than £200 on Christmas goodies, compared with 29% during the festive season last year, according to accountants KPMG.

This Is Money: Online blow for mail order shopping MAIL order catalogues are suffering their worst year for a decade with sales down £273m, new research showed.

This Is Money: Key-worker homes standing empty ...new figures revealed one in three key worker homes is standing empty. Housing minister Yvette Cooper revealed 36% of key worker homes in London and 35% in the wider South East are empty. More than half have been empty for more than three months.

This Is Money: Cheap flats give new buyers hope ...Financial Mail has learned that the costs of newly built, smaller apartments are coming under heavy pressure. 'In the South and the Midlands, prices are down 10, 15 or 20% in some cases,' said one source.

Times: City bonuses boost house sales The prospect of fat City bonuses this winter is electrifying the upmarket London property market, a report suggests today. Luxury homes that have been languishing on estate agents’ books for months are being snapped up for well above their asking prices, estate agents say.

BBC News: UK house prices show slight rise Annual house price inflation rose in September for the first time in six months, according to the Office of the Deputy Prime Minister (ODPM).

SKY News:Let is snow, let it snow Get your snow boots out, make sure your fridge is stocked with soup and your freezer is full of bread - the chance of snow this week is 100%. According to forecasters, most of Britain will be blanketed with the white stuff from Thursday.

BBC News: Car giant GM to cut 30,000 staff US carmaker General Motors is to cut 30,000 jobs in North America under a restructuring drive that aims to revive the company. The automotive group, which is struggling to stem huge losses, will also close down nine assembly, stamping and Powertrain engine-maker facilities.

The Times: Housing market confidence is back, says Rightmove British homeowners were handed some more good news this morning when the latest housing market survey from Rightmove, the property website, suggested that house prices have now risen for two months in a row.

Reuters: House prices rise - Rightmove Average asking prices on a home rose for the second straight month from mid-October to mid-November on rising turnover, suggesting that confidence is returning to the market, a report said on Monday.

Reuters (US): Economists say U.S. housing market in downdraft The U.S. housing market has peaked and a slowdown appears underway after a five-year rally that toppled all construction and sales records and sent home prices soaring, economists said on Thursday.

Firstrung.com: RICS, "Buyers still retain the balance of power" So the endless to and fro of property market news in the form of reports shows no sign of abating. Waiting, crouched over their pcs, endless property journalists crack their knuckles before the onsett of carpal tunnel syndrome renders them incapable of issuing more misguided spin in record time.

Firstrung.com: Bricks and mortar SIPPS may crumble, says actuarial profession Alan Goodman, chairman of its Financial Consumer Support Committee, offers a warning to those believing SIPPS will maintain property values at their current heights, or push values further out of reach for the first time buyer.

SKY News: Oil prices resume climb Oil prices gained after slipping to their lowest level in five months in the previous session. Some analysts are predicting the front-month contract has found a bottom.

BBC News: Trichet: 'interest rates to rise' Jean-Claude Trichet, president of the European Central Bank (ECB), has hinted that interest rates could rise soon. The ECB has maintained interest rates at 2% for five years, but this could soon change, he suggested.

Guardian: Bankruptcy stalks world's largest carmaker as it reels under cost of healthcare and pensions What began as a whisper on Wall Street became a deafening roar at the end of last week. Could General Motors, the largest carmaker in the world and the backbone of American industry, be preparing to file for bankruptcy?

MSN Money (US): Dangers of a runaway mortgage market The warning signs are everywhere. And conservative financial institutions -- insurers and pension funds -- are set dead in the path of the runaway train.

Morgan Stanley: Asian Complacency Back in Asia for the second time in a month, I have heard two recurring (and related) themes -- amazement at the ever-resilient American consumer and astonishment over the dollar’s strength.

Sterling could be a sitting duck - Newspaper Edition - Times Online SOMETHING unusual is about to happen if the markets are reading the runes correctly. Interest rates in Britain are not going to rise any time soon and probably have further to fall.

Housing boom: All's not bright - rediff.com: "The retail credit translates into a housing boom driven by EMI financing. That causes a bubble where real estate prices inflate over several years. At some stage, rental yields drop way below the cost of servicing loans on property of equivalent cost."

House Prices Fall In Merton - Wimbledon Guardian: "Merton has seen the biggest drop in house prices in London this year, according to figures published by the Land Registry."

City house prices plummet - Evening Times HOUSE prices in Glasgow have dropped by 12% on average over the last three months.

Firstrung.com: RICS, "Buyers still retain the balance of power" October saw the largest increase in new buyer enquiries in two years and marked the fourth consecutive month of increases says the RICS' (Royal Institution of Chartered Surveyors) housing market survey released today.

Credit Action: November Debt Stats The rapid increase in households’ borrowing has raised total debt to close to 150% of annualised aggregate post-tax income according to the Bank of England. They predict debt may continue to increase more rapidly than income over the next few years.

BBC News: Supply fears amid gas price surge Prices of wholesale gas have almost doubled during the past week, prompting fears about winter supplies to the UK. Prices hit an eight month high of 80p a therm, sharply higher than last week's price of 43p, before dipping slightly.

This is Money: Mortgage lending near record high Mortgage lending fell by 3% in October to an estimated £27bn, according to the latest data from the Council of Mortgage Lenders. Though this is down from September's £27.7bn, it is still one of the highest monthly lending figures on record, and 16% higher than the £23.2bn figure for last October.

BBC News: October mortgage lending steady Mortgage lending was steady last month, according to the latest figures from major industry bodies. The Council of Mortgage Lenders (CML) said gross new lending dropped by 3% to £27bn, although that was still 16% up on October last year.

The Move Channel: House prices to fall in 2006, then level out Nationwide Building Society forecasts that house prices could fall in the first part of next year but return later, giving flat growth over the year. The prediction came as Nationwide reported a rise in pre-tax profits to £255m for the six months to 30 September, from £224m last year.

Reuters: King says retail sales recovering slowly The outlook for consumer spending is a little bit better than last year and retail sales are recovering slowly, although it will not be a boom Christmas, Bank Governor Mervyn King said on Friday.

Business World: Credit card borrowing in UK rises in Oct There were further signs this morning that consumer spending in the UK may have turned the corner as a closely-watched survey found households slowly increasing their credit card exposure.

Wall Street Journal: Housing Market Shows Further Signs of Cooling The pace of U.S. home sales is showing further signs of slowing, amid a widening gap between sellers' asking prices and the amount skittish buyers are prepared to offer, according to an industry survey, real-estate brokerage firms and housing economists.

My Finances: UK falling out of love with property And when this study is narrowed to only include people who are actively investing in the property market, just one in eleven thinks that house prices will rise faster than shares in 2006... "We believe the repeated warnings about a property slow-down are beginning to have an impact but it’s a concern that many people are still banking on property prices rising."

Motley Fool: Housing Shares I Told You To Avoid ...Now the housing market has come off the boil, sure enough, every one of the six shares I told you to avoid has subsequently declined in price. Here are the losses:

BBC NEWS | Business | Jump in US manufacturing output US manufacturing production jumped 1.4% in October, its biggest monthly rise in six years, according to figures from the Federal Reserve.

Times: Nationwide - no house price growth for a year House prices are likely to fall in the first half of 2006, with price growth becoming virtually stagnant by the end of next year, Britain's biggest building society the Nationwide warned today.

This Is Money: Chaos fear over home packs ...With the cost of the compulsory packs for sellers expected to be £1,000, the CML said people will bring forward attempts to sell their homes to before the deadline, creating a spike in the market. Experts have also predicted potential buyers could act the other way and try to delay purchases until after the deadline, leading to a glut of homes for sale in the months before packs are introduced.

Telegraph: To the point Housebuilding is one of the most emotive sectors of the UK stock market. Listening to most commentators it seems to move from boom to bust on a regular basis.

Channel 4: Date set for Brown pre-budget report Chancellor Gordon Brown will deliver his pre-budget report to the Commons on Monday December 5, the Government has announced.

Reuters: Retail sales rise modestly ...But retailers appear to be achieving volume growth at the expense of their profit margins. Prices were on average 1.1 percent lower than a year earlier, the biggest decline since February. As such, the figures are unlikely to settle the debate about whether the next move in interest rates will be up or down.

Reuters: Unsure of next rate move -King The Monetary Policy Committee has no pre-set idea of where interest rates are headed Bank of England Governor Mervyn King said on Thursday. "Where will interest rates go next? I don't know," King told a meeting of business people and community leaders in Birmingham.

M2.com: Home Information Packs 'go-live' date announced Home Information Packs, which are being introduced by Government to reform the home buying and selling process, will become mandatory from 1 June 2007.

BBC News: Nationwide sees flat house prices House price growth will continue to be flat over the coming year, according to mortgage lender Nationwide.

SKY News: Confidence on the wane Investors are feeling less confident about both the housing market and the sotck market, new research has indicated.

SKY News: Taxes hitting spending Rising taxes are one of the reasons for the slowdown in consumer demand, the Bank of England has revealed.

BBC News: Shanghai's cautious property buyers Song Yu, a physician in a Shanghai hospital, and his wife are looking to buy their first home. Song Yu earns $1000 (£582) a month, which is more than 10 times the average Chinese salary.

Mansion Impossible Excellent flash game. Houses keep popping up and you have to buy and sell them in order to make a profit...but the prices are continually changing!

Firstrung.com: Postcard from Blackpool As a parent of two twentysomethings, very close to thirtysomethings, I now find myself in the unenviable position of selling my own family house to fund the purchase of a retirement bungalow.

FT.com / World / UK - Sterling falls sharply on Bank of England report The Bank of England on Wednesday lowered its forecasts for economic growth and inflation in its quarterly inflation report, increasing the chance of a cut in interest rates and sending the pound to a 23-month low against the dollar.

This Is Money: Buy-to-let firm shut down A COMPANY that promised to help people build up multi-million pound portfolios by investing in property in Turkey and Spain was today wound up after an investigation showed it appeared to be fraudulent.

BBC News: A first-timers guide to buying a home Buying your first home can be a daunting experience, navigating your way through a labyrinth of properties, mortgage products, surveys and solicitors.

SKY News: Jobless total climbs The number of people out of work and claiming benefits rose by more than double the expected amount in October.

BBC News: Bank upbeat on inflation target UK inflation is expected to meet its 2% target in the next two years, according to Bank of England predictions.

MyFinances.Co.UK: Sellers cut property prices Property prices in the UK are falling, despite an increase in buyer activity, new figures show...increasing buyer interest has still not fully compensated for previous falls. The number of property transactions is still only up eight per cent from its February low and is five per cent down on last year.

Sunday Times: The Market The Halifax bank says recent small increases in house prices in some regions will not lead to another long-term wave of property inflation. “This year’s slowdown in the pace of UK economic growth and the historically high level of house prices relative to average earnings are expected to curb the recent improvement in housing demand and prevent a marked pick-up in prices,” says Halifax chief economist Martin Ellis.

This Is Money: Factories 'head for recession' BRITAIN is facing a manufacturing recession and the loss of more factory jobs over the next year, a leading business group has warned.

Reuters: Slower fall for house prices - RICS RICS...cautioned that demand was improving from a very low base and did not signal a strong revival. "The return to more balanced market conditions is welcome, though negotiations between buyers and sellers remain hard, and over-priced property continues to remain unsold," said RICS spokesman Jeremy Leaf. "A return to boom conditions is not at all evident."

EconomicsUK.Com: How to blow £50 billion without really trying After a busy week Brown is said to relax by watc