View more on these topics

Govt data shows cooling in house market

Figures from the Office of the Deputy Prime Minister show that house price inflation fell from 14.3 per cent in July to 13.6 per cent in August.

The average house price was £179,486, up from £177,474 in July – a rise of only 1.12 per cent on the previous month compared with 1.8 per cent in the same period last year.

House price inflation in England fell from 13.4 per cent in July to 12.9 per cent in Aug-ust. Scotland saw a fall from 22.3 per cent to 20.2 per cent while house price inflation in Wales was down from 30.4 per cent to 27.6 per cent.

Halifax&#39s house price index for Q3 2004 shows the top 10 property hotspots over the past year are all outside Southern England, with the exception of Hastings.

The biggest annual rise was 38 per cent in Wales, where the average house price is now £142,388.

Prices in London and the South-east have seen the smallest annual gains of 8.1 per cent and 10.9 per cent respectively, with average prices now at £243,034 and £219,153.

Halifax chief economist Martin Ellis says: “While prices continue to rise more rapidly in the North, there are increasing signs that house price inflation here is slowing as first-time buyers face similar difficulties to those in the South buying a home.”


Multi funds confusing advisers

Most IFAs do not know the difference between types of multi-manager funds, says Fidelity multi-manager portfolio manager Richard Skelt. He claims many intermediaries are unsure about the difference between fund of funds, multi-manager and manager of manager. One year after the launch of the Fidelity multi-manager funds Skelt claims that IFAs are still confused about […]

Warning over non-regulated status of BTL

Property investors should be aware that the safeguards in the mortgage market from FSA regulation will not apply to buy-to-let or commercial mortgages, says Mortgages for Business. The investment property broker points out that buy-to-let and commercial mortgages will remain non-regulated after M-Day on October 31 unless 40 per cent of the property, including the […]

First State looks great in China

First State Investments has established a sterling share class in the First State Greater China growth fund, making it available to UK investors for the first time. The fund invests a range of companies in the People&#39s Republic of China, Hong Kong, Taiwan and Macau. It will be managed by Martin Lau, who joined First […]

Boyd quits Just Retirement

Just Retirement head of external communications Jim Boyd is leaving financial services for a job with transport company Go Ahead. The former Britannic Retirement Solutions PR is well known for his lobbying in the industry on issues such as telling annuitants clearly about their right to exercise the open market option and the full regulation […]

Europe: Volatile share prices create opportunities for long-term investors

Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment