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North-South house price divide set to continue

The North-South divide in house prices is set to continue according to Nationwide Building Society&#39s latest quarterly housing review.

And London continues to outstrip the rest of the South East with prices up to 20 per cent higher.

The survey shows an increase in house prices over the short term fuelled by consumer confidence following a 2.25 per cent decline in base rates over the last six months.

The survey says the economic slowdown will primarily affect Northern manufacturing industry.

The South which is dominated by the service sector is likely to escape much of the slowdown thus reinforcing the divergence in house prices between the South and North.

But longer term the market remains subdued with prices 15 per cent lower than the historical trend, while only 9.5 per cent of the housing stock changed hands compared to the historical average of 11 per cent.


L&G sees stocks and shares Isa take £3m

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M&G announce gross Pep sales of £673m

M&G has announced gross Pep sales of £673m for the tax year ending April 5, 1999.The three month figure to March 31, 1999 was £311m but this increased to £337m by April 5.The investment manager&#39s quarterly figures also revealed funds under management of £19bn at March 31.

Life offices &#39surrendering on referrals&#39

The Association of Policy Market Makers claims it is winning its battle to persuade life offices to encourage customers to sell rather than surrender with-profits endow ment policies.It says the number of calls it received from policyhold-ers who had been referred directly from life offices increa sed by 25 per cent in the first quarter […]

Public confident of mortgage market

Borrowers are more confident about the mortgage market than financial advisers, according to Paragon&#39s latest Financial Adviser Confidence Tracking index.The survey found that the amount of mortgage business written has stayed constant over the last 12 months but the index fell to 102.8 in the last quarter of last year compared with 113.9 in the […]


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