Tuesday, May 31, 2005 

in2perspective: House prices drop down under Australia’s home loan interest rates would rise to 9% next year, causing house prices in Sydney and Melbourne to fall between 15-20% by 2008 after inflation, according to a new housing report from BIS Shrapnel.
posted by Webmaster  @ 7:44 PM 0 comments

ThisisLondon: Retail sales worst since recessionHigh street stores have suffered their worst three months since the autumn of 1992, when sterling was ejected from the European exchange rate mechanism on Black Wednesday and the economy was mired in recession.
posted by Webmaster  @ 7:42 PM 0 comments

Find a Property: Hometrack Negative About First-Time Buyer Initiative Following on from last week's government announcement of a new scheme to assist first-time buyers, Hometrack is sceptical about its potential...
posted by Webmaster  @ 7:41 PM 0 comments

Herald Sun (AUS): House prices dropping Home loan interest rates would rise to 9 per cent next year, causing house prices in Sydney and Melbourne to fall between 15-20 per cent by 2008 after inflation, according to a new housing report from BIS Shrapnel.
posted by Webmaster  @ 7:33 AM 0 comments

icWales: Investors go into debt A debt advice group yesterday announced plans to raise money through a flotation as it looks to cash in on record consumer borrowing.
posted by Webmaster  @ 7:31 AM 0 comments

icWales: Buyers desert market for flats to let The buy-to-let market has come to a standstill as rising interest rates and flat property prices take their toll, according to new figures.
posted by Webmaster  @ 7:30 AM 0 comments

Monday, May 30, 2005 

BreakingNews.ie: Surge in mortgage applications at BoI Mortgage applications at Bank of Ireland are up 25% on last year, the bank announced today.
posted by Webmaster  @ 2:31 PM 0 comments

Sunday, May 29, 2005 

Telegraph: It's borrow now, pay never, for Brown's children Gordon Brown's children are to blame. That's not precisely how James Crosby, the chief executive of HBOS, explains a spike in bad debts on unsecured lending. But it is the subtext.
posted by Webmaster  @ 6:23 AM 0 comments

The Observer: Murdoch reveals details of redundancies at BSkyB Executives at satellite broadcaster BSkyB have outlined plans to cut costs in seven departments, including human resources, finance and marketing, ahead of a final decision on the size and scale of job cuts next month.
posted by Webmaster  @ 6:19 AM 0 comments

Saturday, May 28, 2005 

Times Online: Mortgage lending levels out after slump The housing market is showed signs of stabilising as banks reported an upturn in the number of new mortgages approved.
posted by Webmaster  @ 10:28 AM 0 comments

Find a Property: BBC Needs First-Time Buyers A new BBC series is set to become the Blind Date of the Property Market by matching people and properties...
posted by Webmaster  @ 10:27 AM 0 comments

Guardian: What first-time buyers are really being sold This week the government pressed home its message that it wanted to assist would-be property buyers. Rupert Jones looks at the plans in detail and asks how many will be helped
posted by Webmaster  @ 10:26 AM 0 comments

Telegraph: Soaring house prices make 47,500 property millionaires The number of property millionaires has risen almost 14 times over the past decade as house prices have soared to levels that many fear are unsustainable.
posted by Webmaster  @ 10:25 AM 0 comments

This is leicestershire: Rise in million pound home salesThe number of homes sold for more than £1 million rose by a third during 2004, new figures have shown.
posted by Webmaster  @ 10:15 AM 0 comments

Scotsman.com: How the bottom fell out of buy-to-let What is going on in the buy-to-let market? Earlier this year, I had a major spat with someone on the issue. I maintained signs were starting to emerge that some buy-to-let investors were about to get seriously burned. They disagreed.
posted by Bullish Bear  @ 9:10 AM 0 comments

Friday, May 27, 2005 

Economist: Gordon Brown's house sale The government wants to help the market provide cheap homes for poorer people. It's a risky scheme for all concerned
posted by Webmaster  @ 4:33 PM 0 comments

Guardian: Lack of appetite for buy-to-lets The number of buy-to-let investors entering the market has stagnated, although landlords have seen an increase in rental returns for the first time since 2000, according to figures out today.
posted by Webmaster  @ 4:31 PM 0 comments

Bloomberg: HSBC Workers Stage First U.K. Bank Strike in 8 Years HSBC Holdings Plc employees are striking today in Britain's first national bank walkout in eight years, protesting a new pay plan as Chairman John Bond tries to cut expenses to counter a slowdown in U.K. consumer banking.
posted by Webmaster  @ 10:24 AM 0 comments

Thursday, May 26, 2005 

Moneyextra: Hawk replaces dove on MPC Chancellor Gordon Brown announced to the House of Commons the appointment of David Walton to the Bank of England's Monetary Policy Committee (MPC) to succeed Marian Bell. His tenure begins with effect from July 1, 2005.
posted by Webmaster  @ 6:05 PM 0 comments

Barclays sees bad debts increase Shares in Barclays have fallen by more than 4% after the bank said consumer bad debts were worse than expected.
posted by Webmaster  @ 11:33 AM 0 comments

ThisIsMoney: 'Free' mortgages that cost more Good news for home buyers – mortgages are coming down. Lenders are cutting their fixed-rate deals because financial markets expect interest rates to start falling again, perhaps as early as June.
posted by Webmaster  @ 8:01 AM 0 comments

Wednesday, May 25, 2005 

Times Online: Manufacturing weighs on UK economy A sharp downturn in manufacturing output in the first quarter pushed UK economic growth to its lowest rate in nearly two years, official figures showed today, with some analysts predicting even lower growth rates.
posted by Webmaster  @ 10:21 PM 0 comments

Guardian: UK growth slows down The economy grew at its weakest rate in nearly two years in the first quarter, official figures showed today, striking a blow to Gordon Brown's forecasts.
posted by Webmaster  @ 10:20 PM 0 comments

BBC NEWS | Politics | New 'cheap' home sites unveiled Three ex-NHS sites will be used to provide houses for about £60,000 each in a bid to help first-time buyers.
posted by Webmaster  @ 7:02 PM 0 comments

Times: Inflation remains below 2% target - Target 2.0 Inflation was unchanged at 1.9 per cent in April, remaining just under the Bank of England's 2.0 per cent target, prompting analysts to assume that interest rates may be held steady at 4.75 per cent for another month yet.
posted by Webmaster  @ 2:24 PM 0 comments

Dead Men Left: Gordon Brown: work longer for less money I've mentioned it before, but the happy left-liberal thought that, by tying Britain closer to the EU, this country will be pulled to the left is little more than a reassuring myth.
posted by Webmaster  @ 2:23 PM 0 comments

The Motley Fool UK: Victor Meldrew's Buy-To-Let Victor Meldrew could have been a fine City analyst. Results from Paragon this morning would have had the cantankerous old codger screaming into his RNS feed.
posted by Webmaster  @ 2:13 PM 0 comments

BBC NEWS | Politics | Brown to release land for homes Chancellor Gordon Brown is to announce the release of more state-owned land to increase the supply of cheap housing.
posted by Webmaster  @ 8:02 AM 0 comments

icWales: Things are looking up for first-time buyers Christopher Agius, head of commercial property at Cardiff and Swansea law firm Leo Abse & Cohen, takes a look at how the property market has been shaped over the past eight years and what the Government has in store for the next four
posted by Webmaster  @ 8:01 AM 0 comments

Tuesday, May 24, 2005 

Reuters: House prices fall faster as supply grows House price falls accelerated further in the three months to April as the number of new sellers rose at the fastest rate in more than two years, the Royal Institution of Chartered Surveyors said on Tuesday.
posted by Bullish Bear  @ 6:34 PM 0 comments

Times: Letters to the Editor Plan to give housing priority to public sector workers
posted by Webmaster  @ 11:28 AM 0 comments

Times Online - Household spending slowdown will last five years: "THE consumer downturn will mark the start of a five-year stretch in the doldrums for household spending as millions of people boost their savings, the Institute of Directors will predict today. "
posted by Bullish Bear  @ 7:37 AM 0 comments

Monday, May 23, 2005 

ThisIsMoney: House prices still falling House prices fell by 0.1% in May, marking the 11th consecutive month of falls, according to the latest survey by UK property website Hometrack.
posted by Webmaster  @ 10:35 PM 0 comments

ThisisLondon - Two years of gloom ahead, bank warns A LEADING City economist today warned that the High Street is set for two more years of gloom. John Butler, chief UK economist at HSBC, said consumer spending will slump to its weakest since the early Nineties recession as household debt grows, unemployment rises and the property market stagnates
posted by Bullish Bear  @ 7:24 AM 0 comments

Bloomberg.com: Europe - U.K. House Prices Declined for 11th Straight Month in May : " in May, Hometrack said, adding to concerns that higher borrowing costs are sapping demand for property"
posted by Bullish Bear  @ 7:21 AM 0 comments

Independent - Consumers may at last be recognising their apparent riches were an illusion: "Between 1997 and 2004 - the first seven years of Labour's period in office - the UK consumer did Britain proud. Over this period, consumer spending rose at a robust 3.5 per cent a year in real, inflation-adjusted terms. That's quite a lick. Since 1948, consumer spending growth has averaged a mere 2.6 per cent growth a year. So UK consumers - other than those who are scared of the Bluewater hoodies - have truly never had it so good."
posted by Bullish Bear  @ 7:15 AM 0 comments

Telegraph | Money | China in for 'rude shock' over asset bubble: "China is repeating Japan's worst mistakes in the asset bubble of the 1980s and could soon come down to earth with a 'rude shock', a top Japanese official has warned."
posted by Bullish Bear  @ 1:03 AM 0 comments

Forbes.com - UK house prices fall for 11th consecutive month in May: "UK house prices fell by 0.1 pct in May from April, marking the eleventh consecutive month of declines, according to the latest survey by UK property website Hometrack"
posted by Bullish Bear  @ 12:33 AM 0 comments

Times Online - Economic data to test Chancellor’s growth prediction: "GORDON BROWN faces a tense week over the deteriorating outlook for the economy, with the City giving warning that a series of key figures will signal worsening prospects. "
posted by Bullish Bear  @ 12:27 AM 0 comments

Guardian Unlimited | The Guardian | Prescott plan to increase housing supply: "Deputy prime minister moves to ease homes shortage as chancellor launches affordable mortgage plan for first time buyers "
posted by Bullish Bear  @ 12:22 AM 0 comments

Reuters - British house prices fall for 11th month House prices in England and Wales fell for an 11th consecutive month in May, leaving them down 2.3 percent on a year ago even though property transactions picked up, a survey showed on Monday
posted by Bullish Bear  @ 12:15 AM 0 comments

Sunday, May 22, 2005 

BBC NEWS | Have Your Say | What do you think of cheap mortgage plan? First-time home buyers struggling to get on the property ladder could get help to buy cheap mortgages funded by taxpayers' money.
posted by Webmaster  @ 4:38 PM 0 comments

BBC NEWS | Politics | Brown unveils cheap mortgage plan: "More than 100,000 homeowners could get onto the property ladder in the next five years thanks to a part-ownership plan, Chancellor Gordon Brown has said. "
posted by Bullish Bear  @ 4:12 PM 0 comments

ITV.com: Cheap mortgages for first-time buyers Thousands of first-time buyers are to be given financial assistance on to the housing ladder under plans outlined by Chancellor Gordon Brown.
posted by Webmaster  @ 12:35 PM 0 comments

Saturday, May 21, 2005 

Times Online - Panic sales on costas as gangs gas and burgle the British: "CRIMINAL gangs are targeting British homeowners on the Spanish costas and using knockout gas to overpower their victims in exclusive resorts"
posted by Bullish Bear  @ 2:31 PM 0 comments

Western Daily Press - HOUSE PRICES SET TO FALL 20 PER CENT : "The housing market is heading for five years of pain as property prices fall by 20 per cent, an economist said yesterday. "
posted by Bullish Bear  @ 2:16 PM 0 comments

HOMES FALL NEARLY 1%: "House prices in Gloucester have fallen by 0.8 per cent in the last month, according to a Hometrack survey. That is significantly worse than the national average, where the prices houses are being sold for dropped 0.1 per cent in May, falling for the eleventh consecutive month."
posted by Bullish Bear  @ 2:14 PM 0 comments

Citywire :: News: Saturday Papers: Economists warn on house prices: "Economists warn that house prices could drop by up to 20% as mortgage lending by high street banks slowed last month to its weakest pace in over three years."
posted by Bullish Bear  @ 2:13 PM 0 comments

Friday, May 20, 2005 

BBC NEWS | Business | Credit card debt starts to fall Credit card debt has fallen for the first time since May 1994, the British Bankers' Association (BBA) said.
posted by Webmaster  @ 2:53 PM 0 comments

Times Online: Mortgage lending predicted to fall 30% this year Nationwide Britain’s biggest building society, has predicted that total mortgage lending would slump 30 per cent this year, from £100 billion to £70 billion, as the housing market slows.
posted by Webmaster  @ 9:43 AM 0 comments

Guardian: House price growth expected to sink close to zero Britain's biggest building society, Nationwide, yesterday trimmed its forecast for house price growth this year to between 0% and 2%, but said it did not believe the market was heading for a crash.
posted by Webmaster  @ 9:41 AM 0 comments

Telegraph | Money | Nationwide issues dire warning on mortgages: "Britain's biggest building society yesterday warned that the mortgage market will shrink by nearly a third this year and sharply cut its house price growth forecast."
posted by Bullish Bear  @ 6:57 AM 0 comments

Thursday, May 19, 2005 

Leeds Today: Rate fears send Yorkshire House Prices Tumbling: "HOUSE prices in Yorkshire are tumbling at their steepest rate for more than a decade, according to a report."
posted by Bullish Bear  @ 6:05 PM 0 comments

WHAT MORTGAGE - Housing Market down 30%: "Housing market activity is down 30 per cent compared to this time last year, according to the Royal Institution of Chartered Surveyors (RICS)"
posted by Bullish Bear  @ 6:03 PM 0 comments

Reuters.co.uk: House price crash unlikely House price inflation is seen easing to less than one percent this year, according to a Reuters poll of 20 economists, and a price crash looks remote unless the jobs market or growth take a turn for the worse.

posted by Webmaster  @ 4:33 PM 0 comments

BBC NEWS | Business | High Street trend remains gloomy UK High Street retail sales are still in the doldrums with the latest figures showing year-on-year growth slipping to its weakest in two years.
posted by Webmaster  @ 2:36 PM 0 comments

Guardian Unlimited Money | Special_reports | Lone voice calls for rate rise at Bank Further signs that interest rates may have peaked came yesterday with news of slower growth in average earnings and a rise in the claimant count.
posted by Webmaster  @ 11:18 AM 0 comments

BBC NEWS | Business | High Street sales beat forecasts UK high Street retail sales saw a surprise rise of 0.5% on the month in April, though year-on-year growth slipped to its weakest in two years.
posted by Webmaster  @ 10:34 AM 0 comments

in2perspective: London's first-time buyers laying low The percentage of London's first time buyers has dropped to 18% - the lowest since October 2004, report Spicerhaart.
posted by Webmaster  @ 7:47 AM 0 comments

Independent: Rise in jobless figures could prompt Bank of England to cut interest rates Unemployment rose last month as businesses cut back on new staff and wage growth slowed, according to the latest figures to paint a downbeat picture of the UK economy.
posted by Webmaster  @ 7:46 AM 0 comments

Wednesday, May 18, 2005 

Guardian Unlimited Money | Special_reports | Homeowners 'still fear price drops': "Homeowners are still nervous about the housing market, according to figures from lender the Woolwich."
posted by Bullish Bear  @ 5:44 PM 0 comments

BBC NEWS | Business | Bank voted 8-1 to freeze UK rates The Bank of England's rate-setting committee lost one of its interest rate hawks this month as it voted 8-1 to keep the cost of borrowing on hold.
posted by Webmaster  @ 2:00 PM 0 comments

Sky News: One MPC Member Against Rate Hold Only one member of the Bank of England's Monetary Policy Committee voted against the decision to leave interest rates on hold earlier this month.
posted by Webmaster  @ 10:52 AM 0 comments

BBC NEWS | Politics | Brown urges worker wage restraint Chancellor Gordon Brown is calling for wage restraint from public service workers after warning of the risks from a European economic slowdown.
posted by Webmaster  @ 10:50 AM 0 comments

BBC NEWS | Business | UK unemployment declines in 2005 The number of jobless people in the UK has fallen, according to the latest set of official figures.
posted by Webmaster  @ 10:49 AM 0 comments

Independent - Are we heading for a fall?: "Retail sales crashing. Manufacturing output tumbling. House prices stalling. Debt levels rising."
posted by Bullish Bear  @ 7:08 AM 0 comments

Tuesday, May 17, 2005 

BBC NEWS | Business | Gloom gathers over world economy: "Investors are growing gloomier about prospects for the world economy and are expecting weaker growth, a survey of fund managers has indicated. "
posted by Bullish Bear  @ 6:31 PM 0 comments

BBC NEWS | Magazine | The DIY estate agents Tesco is reported to be moving into property, with plans to undercut estate agents by selling homes through the net for a flat fee of as little as £50. But how easy is it to sell your own home?
posted by Webmaster  @ 3:51 PM 0 comments

Times Online: Inflation remains below 2% target Inflation was unchanged at 1.9 per cent in April, remaining just under the Bank of England's 2.0 per cent target, prompting analysts to assume that interest rates may be held steady at 4.75 per cent for another month yet.
posted by Webmaster  @ 2:38 PM 0 comments

in2perspective: 'DIY adds £85 billion to housing market' A nation of DIY enthusiasts have added more than £85 billion to the British housing market in the past year, claims a new report from Direct Line Loans.
posted by Webmaster  @ 11:47 AM 0 comments

BBC NEWS | Business | Japanese growth confirms recovery Japan's economics minister has said his country is "heading towards recovery" after figures showing 1.3% growth in the first quarter of 2005.
posted by Webmaster  @ 11:17 AM 0 comments

Independent: Bank can't rule out shock rate move: MPC member The Bank of England cannot rule out a surprise move in interest rates, a member of its Monetary Policy Committee will say today.
posted by Webmaster  @ 9:34 AM 0 comments

ThisIsMoney: Rate fears fuel house price drop The housing market is slowing and the outlook is gloomy, according to new figures from the Royal Institution of Chartered Surveyors.
posted by Webmaster  @ 9:19 AM 0 comments

Latest Business News and Financial Information | Reuters.co.uk: "House price falls accelerated further in the three months to April as the number of new sellers rose at the fastest rate in more than two years, the Royal Institution of Chartered Surveyors said on Tuesday."
posted by Bullish Bear  @ 7:26 AM 0 comments

Monday, May 16, 2005 

Blog archive: You can now view our entire archive of house price crash related news articles by scrolling to the bottom of this blog page and selecting the monthly archive that you require from the dropdown box.
posted by Webmaster  @ 10:05 PM 0 comments

Scotsman.com: Russians are coming to push up home costs Wealthy Russian businessmen are targeting Edinburgh’s property market looking to buy second homes for up to £3 million.
posted by Webmaster  @ 9:57 PM 0 comments

BBC NEWS | Business | Firms expect workforces to fall Nearly half of British employers expect to reduce the size of their workforce in the next year, says a survey.
posted by Bullish Bear  @ 5:57 PM 0 comments

Independent: Housing sector heading for worst year in a decade as deals dry up: "House price inflation has fallen to its lowest level since 1996, according to figures published today by Rightmove. The property analyst will warn that 2005 is likely to be the worst year for the housing market in a decade, with the number of transactions falling to a 10-year low."
posted by Bullish Bear  @ 7:25 AM 0 comments

Guardian Unlimited | The Guardian | Rightmove says house sales are at a 10-year low: "Property sales have fallen to their lowest for a decade and will continue to slide for the rest of the year, according to property website Rightmove"
posted by Bullish Bear  @ 7:23 AM 0 comments

Reuters.co.uk - Rise in house prices slows sharply in April/May: "Asking prices on homes rose a modest 0.3 percent between mid-April and mid-May, but the annual gain slumped sharply to 4.9 percent from 7.0 percent, a property website said on Monday"
posted by Bullish Bear  @ 7:20 AM 0 comments

ThisIsMoney - House sales take a dive: "THE number of house sales has fallen to its lowest for a decade. Only 159,116 sales went through in the first three months of the year - the worst performance since the 1990s property slump - according to the property website Rightmove. "
posted by Bullish Bear  @ 7:18 AM 0 comments

Sunday, May 15, 2005 

The Independent Online Edition > Money: "The late spring has traditionally been a busy season in the house-moving calendar - a time when sellers can name their price, enjoy a flurry of activity and shift their property in a matter of days."
posted by Bullish Bear  @ 9:27 AM 0 comments

Saturday, May 14, 2005 

The Independent: Property investors warned of get-rich-quick schemes Consumers were yesterday warned not to be conned by property companies offering get-rich-quick schemes based on buy-to-let investments.
posted by Webmaster  @ 4:07 PM 0 comments

Friday, May 13, 2005 

ThisIsMoney: Buy-to-let clubs in crisis as prices fall Fears of a collapse in the price of new flats have created the risk of a ' dangerous wobble' in the buy-to-let market. The average price of a new flat has fallen 17.2% across the country in the past 12 months.
posted by Webmaster  @ 10:44 AM 0 comments

Telegraph | Money | Collapsing house price 'nightmare' a real risk, says bank: "Bank of America warned yesterday that Britain could face a 'nightmare scenario' as collapsing house prices combined with the pain of tighter fiscal policy."
posted by Bullish Bear  @ 7:40 AM 0 comments

Thursday, May 12, 2005 

Scotsman.com News - Scotland - Capital's house prices fall: "HOUSE prices in Edinburgh fell in the first part of the year, adding to fears of an economic slowdown and providing further evidence the capital's property bubble has burst. "
posted by Bullish Bear  @ 10:55 PM 0 comments

Telegraph | Money | Housing worries inhibit borrowers: "Confidence in the housing market has slumped alarmingly, according to a new report to be published tomorrow."
posted by Bullish Bear  @ 10:54 PM 0 comments

Guardian Unlimited | The Guardian | The UK's economy may be at braking point: "Manufacturing output is down; consumer spending is down. Was this, the business pundits wondered this week, the beginning of the end of Britain's economic success story? "
posted by Bullish Bear  @ 10:52 PM 0 comments

Britain, UK news from The Times and The Sunday Times - Times Online: "THE Bank of England yesterday opened the door to a cut in interest rates to shore up the economy as its Governor admitted that the severity of the abrupt high street downturn had taken it by surprise. "
posted by Bullish Bear  @ 10:50 PM 0 comments

News: "John Clare, the chief executive of Dixons, warned yesterday that he saw no respite for the retail sector, which appears to be heading for a meltdown to rival the consumer slowdown of the early Nineties."
posted by Bullish Bear  @ 10:49 PM 0 comments

Credit Management & Debt Collection Business Industry News: "Amid a deluge of bad news about the UK economy, the Bank of England is publishing today its latest quarterly inflation figures. For the first time since the 1970s, there is the unhappy prospect of "stagflation", where prices rise at a time of low growth. Back then, the economy was bailed out by rising house prices, but that seems an unlikely prospect this time round. "
posted by Bullish Bear  @ 6:23 PM 0 comments

housefund.co.uk: First Time Buyers Struggling Despite a slowdown in rising house prices, first time buyers are still facing an uphill struggle to get onto the housing ladder.
posted by Webmaster  @ 3:11 PM 0 comments

Independent: A job that's as safe as houses There's a lot more to finding people decent homes to lie in than being an estate agent. Clare Dwyer-Hogg investigates a sector that ranges from helping people who can't pay their rent to overseeing new builds
posted by Webmaster  @ 9:49 AM 0 comments

Times Online: Companies forced to close over £4m buy-to-let scam BUY-TO-LET property scams which tempt investors with promises of multimillion-pound returns are under fire from the Government.
posted by Webmaster  @ 9:48 AM 0 comments

Worried about house prices?: The property market can go down as well as up.
posted by Bullish Bear  @ 7:41 AM 0 comments

Wednesday, May 11, 2005 

BBC NEWS | Business | Crackdown on buy-to-let schemes: "Five companies offering get-rich-quick schemes to people wanting to get into the buy-to-let market have been shut down by the government. "
posted by Bullish Bear  @ 5:42 PM 0 comments

FT.com / UK - Onus on MPC to explain why rates have not gone up Even after its recent falls, the pound is higher now than when the Bank of England's last inflation forecasts were published in February, creating another reason for the Bank's monetary policy committee to hold its main interest rate down.
posted by Bullish Bear  @ 5:40 PM 0 comments

Credit Action: Debt statistics May 2005 More than 3 million people are struggling with energy bills, 4.7 million are in debt to their water company and more than a million have had their phone cut off.
posted by Webmaster  @ 12:26 PM 0 comments

BBC NEWS | Business | Dixons hit by consumer slowdown A slowdown in consumer spending has hit trading at the Dixons Group, with UK sales falling over the past six months.
posted by Webmaster  @ 11:58 AM 0 comments

BBC NEWS | Business | Bank to shut down 100 UK branches National Australia Bank (NAB) is to cut 2,500 jobs in Australia and close 100 branches in the UK as it tries to recover from a trading scandal.
posted by Webmaster  @ 11:58 AM 0 comments

This is Jersey: News from the Jersey Evening Post The average price of a one-bedroomed flat fell by £31,000 during the past three months as many remained unsold around the Island.
posted by Webmaster  @ 11:56 AM 0 comments

Tuesday, May 10, 2005 

BBC NEWS | Business | Sharp drop in level of home sales: "The number of properties sold in England and Wales has fallen by more than a third compared with 12 months ago, Land Registry figures have shown. "
posted by Bullish Bear  @ 5:56 PM 0 comments

ThisIsMoney - Debt counselling, Debt Advice, Bad Credit, CCJs, Experian, Equifax, Credit Scoring. | Thirtysomethings hamstrung by debt: "NEARLY half of 26 to 40-year-olds would not be able to financially survive for a month if they lost their jobs due to their high level of debt. "
posted by Bullish Bear  @ 5:55 PM 0 comments

Guardian Unlimited | The Guardian | Abbey to cut 1,000 extra jobs: "The new owner of the Abbey bank today dealt a fresh blow to staff by warning that it planned to cut more jobs than originally forecast. "
posted by Bullish Bear  @ 5:53 PM 0 comments

Guardian Unlimited Money | Special_reports | Property sales down 35%: "The number of homes sold in England and Wales has fallen by more than a third during the past year, according to official figures published today."
posted by Bullish Bear  @ 5:52 PM 0 comments

News: "British Gas warned yesterday that a further rise in domestic fuel bills was 'inevitable' because of the surge in the wholesale price of gas."
posted by Bullish Bear  @ 5:51 PM 0 comments

FT.com / UK - British retail sales fall sharply in April British retail sales fell at a record annual pace in April, the British Retail Consortium said on Tuesday, providing the latest evidence that a consumer slowdown which started late last year is persisting.
posted by Bullish Bear  @ 5:50 PM 0 comments

Monday, May 09, 2005 

Sharp slip in housing market confidence: "Confidence in the housing market slipped sharply in April with 64% of house-hunters saying they expected house prices to fall over the next 12 months compared to 48% in March."
posted by Bullish Bear  @ 7:14 PM 0 comments

ThisIsMoney - Bad debts rocket for lower-end lenders: "CITY fears are intensifying about a further surge in credit defaulters after a series of warning signs from companies exposed to Britain's bulging debt burden. "
posted by Bullish Bear  @ 7:13 PM 0 comments

ThisIsMoney - Financial News, Business News, FTSE latest, Housing and Property Market, Interest Rates, Reports. | Fears of High Street recession: "FEARS for Britain's stumbling economy are set to increase this week. Days after the General Election, retailers are expected to reveal that sales slumped last month. "
posted by Bullish Bear  @ 7:11 PM 0 comments

Guardian Unlimited | The Guardian | The economy is going backwards, not forwards: Things could get a lot worse if the housing market turns down again. Although prices have largely been stable so far this year, some economists think this is typical of the early phase of a housing market bust as buyers drop away but sellers refuse to cut their price to shift a property.

posted by Bullish Bear  @ 7:10 PM 0 comments

Guardian Unlimited Money | News_ | Homebuyers' confidence dives: "Confidence in the property market has taken a nosedive, with 64% of people expecting house prices to slip 7.7% in the next year, according to research published today."
posted by Bullish Bear  @ 7:09 PM 0 comments

Guardian Unlimited | The Guardian | Manufacturing output plummets: "Manufacturing output fell at its sharpest rate for nearly three years in March, official data showed today, as the Bank of England met for its latest interest rate decision."
posted by Bullish Bear  @ 7:08 PM 0 comments

News: "Workers who demand a big pay increase are likely to find themselves swiftly outsourced, offshored or replaced by migrant workers"
posted by Bullish Bear  @ 7:07 PM 0 comments

FT.com / UK - Families set to cut spending and use spare cash to reduce borrowing: "Britons will spend a smaller share of their income on consumption over the next few years but the spare cash is more likely to show up in lower borrowing than in savings, an economist predicts today."
posted by Bullish Bear  @ 7:06 PM 0 comments

FT.com / UK - Bank of England keeps interest rates on hold The Bank of England on Monday left interest rates at 4.75 per cent for the ninth month in a row in response to mounting concerns that the UK economy has entered a soft patch.
posted by Bullish Bear  @ 7:05 PM 0 comments

MSN Money - Lessons from Japan's bubble -- for ours: "A real-estate bust could cause problems throughout our financial system. Just ask Japan, where the economy is still struggling to get over a 1990 crash."
posted by Bullish Bear  @ 7:00 PM 0 comments

Sunday, May 08, 2005 

The Business - Europe's Global Business News: "BRITAIN woke up to a new era at the end of last week - though not quite the one that the politicians would have had us believe. On Friday morning came news of a dramatic surge in personal insolvency, with a growing number of people unable to pay their bills."
posted by Bullish Bear  @ 4:30 PM 0 comments

Telegraph | Money | High street sales show biggest drop in six years High street sales in April recorded their biggest fall for six years, new figures will reveal tomorrow.
posted by Bullish Bear  @ 4:29 PM 0 comments

Telegraph | Money | 'It's bad and getting worse': "The longest and strongest consumer boom in recent history is over. And normally euphoric retailers are suddenly feeling very depressed. James Hall gives them grief counselling "
posted by Bullish Bear  @ 4:28 PM 0 comments

Buffett turns into prophet of doom - Newspaper Edition - Times Online The world’s most successful investor is sitting on $40bn of cash because too many assets are overvalued
posted by Bullish Bear  @ 4:28 PM 0 comments

The Observer | Cash | Lenders want payback - and that's a good thing: "When mortgage lenders and brokers came under the regulation of industry watchdog the Financial Services Authority last autumn, it seemed like the exercise might be an expensive waste of time. The extra bureaucracy immediately caused administration costs to go up, and borrowers are already paying the price in higher mortgage application and exit fees. "
posted by Bullish Bear  @ 4:26 PM 0 comments

The Independent Online Edition > Money: "Emotional attachment to money is a powerful force."
posted by Bullish Bear  @ 4:25 PM 0 comments

The party is over - prepare for the hangover - Newspaper Edition - Times Online: "IT was not just Tony Blair who looked grim-faced last week. Business leaders in Britain and America have been befriending pessimism for some time. In recent days it has become their best friend. "
posted by Bullish Bear  @ 4:25 PM 0 comments

Business, markets and finance news from The Times and The Sunday Times - Times Online ECONOMIC slowdown in Germany has made it smart to be a skinflint. The movement even has its own prince of parsimony in the dashing shape of Alexander Graf von Schönburg, a 35-year-old nouveau pauvre aristocrat and author of Die Kunst des stilvollen Verarmens (The Art of Stylish Poverty), an anti-designer label guide to living cheaply and being proud of it.
posted by Bullish Bear  @ 4:24 PM 0 comments

The Business - Europe's Global Business News AFTER a series of false alarms, the long-feared slowdown in the British economy appears to have materialised. The downturn was too late to save the Conservatives, but it could yet poison the third Labour term and destroy Chancellor Gordon Brown's reputation.

posted by Bullish Bear  @ 4:22 PM 0 comments

Saturday, May 07, 2005 

The Independent Online Edition > Money: "Small investors may be on the verge of another disastrous mistake, taking their cash out of buy-to-let property investment at the worst possible moment, financial experts warn. Figures from the Investment Property Databank show returns from rental property lagged the stock market last year - with the two sectors producing average gains of 9.1 and 12.8 per cent respectively. And with the ongoing slowdown in house prices, confirmed by Halifax yesterday, many investors are pulling out of buy-to-let."
posted by Bullish Bear  @ 5:39 PM 0 comments

FT.com / UK - Annual rate of house price inflation at lowest level for almost four years: "Homeowners were given a sobering reminder of the stagnation in the housing market yesterday as Halifax reported that prices had not moved at all in April."
posted by Bullish Bear  @ 5:37 PM 0 comments

Bloomberg.com: Pound Posts Weekly Decline on Signs U.K. Economy Is Slowing "The pound fell for a second successive week against the dollar and declined against the euro on signs Europe's second-largest economy is losing momentum"
posted by Bullish Bear  @ 3:15 PM 0 comments

Discounted mortgages come with a sting - Your Money - Times Online HOMEBUYERS who want discounted mortgages are increasingly having to pay fees for the privilege. Lenders’ profit margins are being squeezed and they are using fees to recoup some money from customers, while continuing to offer attractive rates.
posted by Bullish Bear  @ 3:14 PM 0 comments

Scotsman.com Business - Top Stories - Financial frailties leave spendthrifts teetering on abyss: "WITH the dust settled on the whirligig of the general election 2005, dark clouds are forming above the good ship UK Economy. All is not as rosy as Blair and Brown would have it. "
posted by Bullish Bear  @ 3:08 PM 0 comments

Telegraph | Money | Bankruptcies hit record level: More than 10,000 people went bankrupt in the first three months of the year - the highest quarterly figure on record.
posted by Bullish Bear  @ 3:06 PM 0 comments

Challenging times ahead as house prices stagnate and car sales fall: The economic challenges facing Labour as it began its third term in power last night were thrown into sharp relief by figures showing stagnation in house prices, a slump in car sales and a record surge in personal insolvencies.
posted by Bullish Bear  @ 3:01 PM 0 comments

icWales - It's a family affair for first-time buyers as parents lend a helping hand: MOVING out of the family home is an important rite of passage, but over the past decade, rising house prices have meant a generation of first-time buyers are having to find alternative means to raise the required capital.
posted by Bullish Bear  @ 2:28 PM 0 comments

Smothered in red tape - Buy to Let - Times Online IT’S SUCH a hard life being a landlord. If difficult tenants and the vagaries of the property market do not get to you, the red tape does. There are about 50 separate Acts of Parliament, giving rise to 70 different regulations, affecting landlords even before you consider the extra bureaucracy coming into play this year under the new Housing Act.
posted by Bullish Bear  @ 2:18 PM 0 comments

Friday, May 06, 2005 

Latest Business News and Financial Information | Reuters.co.uk Property prices stagnated last month, dragging down the annual rate of increase to the lowest in nearly four years, HBOS said on Friday, in further evidence the property market is still cooling.
posted by Bullish Bear  @ 5:18 PM 0 comments

BBC NEWS | Business | Bankruptcies reach another record The number of people going bankrupt in England and Wales has hit another record high during the first three months of 2005, official figures show.
posted by Webmaster  @ 2:29 PM 0 comments

Guardian: House prices 'haven't moved since January' Further signs of a stabilising housing market emerged today when Britain's biggest lender said house prices were unchanged last month and had failed to move since January.
posted by Webmaster  @ 1:49 PM 0 comments

Reuters.co.uk: Contrasting views on Buy to Let As the housing market slows, lenders are relaxing lending criteria to attract new business, particularly in the buy-to-let market where the average loan has usually been 75 percent of the property's value.
posted by Webmaster  @ 1:48 PM 0 comments

BBC NEWS | Election 2005 | Election 2005 | Howard will stand down as leader Tory leader Michael Howard will stand down "sooner rather than later" to allow a younger leader to take over.
posted by Webmaster  @ 1:10 PM 0 comments

BBC NEWS | Business | House prices 'flat since January' UK house prices were unchanged in April and, overall, there has been no movement since January, according to the latest survey from the Halifax.
posted by Webmaster  @ 9:13 AM 0 comments

ThisIsMoney: '500,000' British jobs in danger More than half a million Britons could lose their jobs over the next three years as the economy plunges towards a potential recession, experts have warned.
posted by Webmaster  @ 8:02 AM 0 comments

Times Online: Economy a 'poison chalice' for poll winner A severe economic downturn awaits the winning side in the general election, leading financial institutions said yesterday as more signs emerged of worsening business conditions.
posted by Webmaster  @ 8:00 AM 0 comments

Thursday, May 05, 2005 

BBC NEWS | Business | Britain braced for credit crunch Not since the mid-1990s, as the last economic recession claimed its final victims, has so much debt pain been felt by so many people.
posted by Webmaster  @ 4:47 PM 0 comments

This is Gloucestershire: A bid to get a toe on the bittom rung The property ladder is still out of reach for millions of first-time buyers but an alternative way of getting on the housing market could be to buy through a property auction.
posted by Webmaster  @ 3:30 PM 0 comments

icSurreyOnline: Couples can't afford a home until they are 41 The ever-rising cost of houses in Mole Valley means the average age of a first-time buyer in the area is 41, it has been revealed.
posted by Webmaster  @ 3:29 PM 0 comments

The Motley Fool UK: Lessons From The Last Housing Crash When the last housing crash began, I watched it as an outsider at first.
posted by Webmaster  @ 1:39 PM 0 comments

Sky News: Business confidence dips The service sector grew at a slightly slower pace in April. Short-term uncertainty pushed down business confidence to a two-year low, said the Chartered Institute of Purchasing and Supply/NTC.
posted by Webmaster  @ 10:52 AM 0 comments

BBC NEWS | Business | Euro rate marks 24 months at 2% The European Central Bank (ECB) has decided to keep the cost of borrowing unchanged at 2%.
posted by Webmaster  @ 9:18 AM 0 comments

BBC NEWS | Business | IBM to axe 13,000 jobs worldwide Computer giant IBM will cut 13,000 jobs worldwide, or about 4% of its total workforce, as part of a restructuring aimed at boosting profits.
posted by Webmaster  @ 9:17 AM 0 comments

Wednesday, May 04, 2005 

icAyrshire: Rural house prices rise by 10 per cent The cost of an average home in the area is now a staggering £274,204, according to the latest research by estate agents.
posted by Webmaster  @ 4:41 PM 0 comments

The Independent: Meet the DIY developers Amateur buy-to-let landlords are increasingly trying their hand at major restoration projects, or even building houses from scratch, tempted by the profits that would go to the developer.
posted by Webmaster  @ 10:57 AM 0 comments

Scotsman.com: The £1m house property boom A £1 MILLION property in Scotland’s capital attracted 60 serious bidders in just four weeks, underlining the continued strength of the market north of the Border, The Scotsman can reveal.
posted by Webmaster  @ 10:55 AM 0 comments

icWales: Mortgage approvals on the increase Further evidence of stabilising house prices has emerged with figures showing a rise in the number of mortgage approvals.
posted by Webmaster  @ 10:54 AM 0 comments

Reuters.co.uk: BoE checklist for next week The Bank of England appears set to leave interest rates on hold for the ninth month running next week as evidence builds that consumer spending is grinding to a halt.
posted by Webmaster  @ 10:52 AM 0 comments

Estate Agency News: No good 4 our business! The National Association of Estate Agents is seeking urgent talks with TV station Channel 4 over a property website which appears to be encouraging home sellers to bypass estate agents.
posted by Webmaster  @ 7:59 AM 0 comments

Tuesday, May 03, 2005 

BBC NEWS | Business | US Fed opts to raise rates to 3% The US Federal Reserve has decided to raise its benchmark interest rate by a quarter of a percentage point to 3%.
posted by Webmaster  @ 10:45 PM 0 comments

ThisisLondon: Twin blow for the economy A DOUBLE dose of dreadful news triggered fresh fears about the economy today. Retail sales suffered their biggest fall in April since Britain was mired in the early-1990s recession, according to the CBI.
posted by Webmaster  @ 4:09 PM 0 comments

Guardian: In the nick of time There may be stormy times ahead for the economy, but the timing of the general election means Labour has avoided them becoming an issue
posted by Webmaster  @ 4:09 PM 0 comments

Telegraph | News | Forget low inflation, the middle classes are still feeling the squeeze: "Remember when inflation was a hot political issue? When prices rose so quickly that savings were eroded and salaries were undermined every month?"
posted by Bullish Bear  @ 1:57 PM 0 comments

In praise of thrift: enjoy money, don't spend it - Times 2 - Times Online: Repossessions are on the rise again and we are in debt as never before. A reformed spendthrift explains how she learnt the art of 'elegant economy'
posted by Bullish Bear  @ 1:46 PM 0 comments

Latest Business News and Financial Information | Reuters.co.uk: Retail sales fell unexpectedly in April at their sharpest pace in nearly 13 years, an industry survey showed on Tuesday.
posted by Bullish Bear  @ 1:40 PM 0 comments

ThisisLondon: Fed poised to tighten US rates Alan Greenspan's Federal Reserve is expected to lift US interest rates by another quarter-point to 3% tonight, despite mounting worries that the world's biggest economy is running out of steam.
posted by Webmaster  @ 11:30 AM 0 comments

CNN.com: Europe awaits U.S. Fed decision European shares were mixed on Tuesday, with Arcelor boosting steel makers after topping forecasts, but trading was cautious ahead of an expected rise in U.S. interest rates.
posted by Webmaster  @ 11:29 AM 0 comments

RTE Business - ECB set to keep rates on hold this week The European Central Bank is widely expected to hold its key rates steady at its regular monthly policy-setting meeting later this week, even as politicians step up the pressure on the bank to ease monetary conditions to help kick-start the euro zone's stymied economy.
posted by Webmaster  @ 11:27 AM 0 comments

ThisIsMoney: Huge job cuts loom at Marconi Thousands of jobs are at risk at telecoms group Marconi following last week's failure to win a share of a £10bn BT infrastructure contract. The company said today that it is considering 'all strategic options'.
posted by Webmaster  @ 11:27 AM 0 comments

icLiverpool: Many on verge of losing their homes The number of people in north Cheshire on the brink of losing their homes has soared by 29% in just one year, while Merseyside has not been so heavily hit by interest rate rises, official figures have revealed.
posted by Webmaster  @ 11:25 AM 0 comments

BBC NEWS | Business | UK pension 'near lowest in West' Britain's state pension is one of the lowest among the richest nations, a report by the Organisation for Economic Co-operation and Development claims.
posted by Webmaster  @ 9:25 AM 0 comments

Monday, May 02, 2005 

The Independent Online Edition > Money: The number of repossession orders granted by courts on behalf of mortgage lenders rose by nearly 25 per cent in the first three months of this year - the highest for nearly a decade.
posted by Bullish Bear  @ 8:25 PM 0 comments

FT.com / News in depth / UK election - Estate agents struggle to explain market lull: First there was the weather. Then there were leaves on the line. Now the general election has joined the lexicon of unconvincing business excuses as estate agents struggle to explain the lull in the housing market.
posted by Bullish Bear  @ 7:57 PM 0 comments

PrudentBear.com - The One-Stop Shop for the Bear Case Buying a home, if the price is right, is often the best investment most people could make. However, the recent spectacular rise in home prices may turn today’s home purchase into a speculation that will engender eventual losses.
posted by Bullish Bear  @ 7:56 PM 0 comments

Sunday, May 01, 2005 

The Observer: Beware the big, black hole Given the similarity of their plans, could any party plot a course to safety if the economy slows?
posted by Webmaster  @ 6:50 PM 0 comments

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