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‘Sellers to flood market next year as Hips loom on horizon’

Estate agent Haart predicts that property prices will rise by 5 per cent in the first half of 2006.

It says prices have risen by between 2 and 3 per cent this year, representing a period of realignment after double-digit growth in the last three years.

Haart says sellers have finally adjusted their expectations on prices and buyers are likely to return to the market as speculation wanes over a housing crash. It believes that property investment in Sipps and the introduction of home information packs will boost the market next year, with a rush of sellers putting their homes on the market before Hips are introduced compulsorily in June 2007.

Chief executive Paul Smith says: “This year has been a period of realignment for the housing market. Sellers have started to price their property realistically and the market has consequently readjusted. Now we are seeing higher levels of activity as confidence has started to return and buyers are realising that the market is not going to crash.”


FSA may take action over online trust promotions

The FSA has raised concerns over internet-based promotions by 11 intermediaries marketing VCTs and is considering enforcement action against the worst offenders. The FSA identified venture capital trusts as an area of potential risk to consumers in March and wrote to intermed- iaries in August over fears that investors were not being given a balanced […]

NAPF says benefits reduced for millions

The NAPF says Turner’s proposals are timid and will lead to a reduction in pension benefits for millions. It says the two-tier system will delay simplif-ication for up to 25 years.

Leeds launches new postal bond

Leeds Building Society is launching a 1-year postal bond paying 5.10 per cent until January 5, 2007.The minimum investment is 10,000 and is operated by post. Interest will be paid at maturity and withdrawals are not permitted. Leeds Building Society head of marketing and PR Karen Wint says: At this rate, I expect the account […]

Take a Baring

At last, most European economies are picking up speed and unemployment is falling. With the new German coalition likely to agree on sensible economic reforms, that economy should recover as well.


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