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Steady falls in prices over last four months

The rate of growth of asking prices in the housing market has fallen nationally in each of the last four months, according to a report from property solutions website Rightmove.

Its first Real-time Property Report, published this week, shows that London has seen two consecutive months of decline in asking prices while the South-east saw the first decline of the year during the four weeks to August 15.

London asking prices went down by 1.2 per cent in July followed by a further decline of 0.7 per cent in August. In the South-east, after an increase of 1.4 per cent in July, prices dropped by 1.8 per cent in August.

During July, asking prices rose nationally by 0.8 per cent against an annual average over the past year of 20.3 per cent.

The average asking price nationally stands at £147,957, says Rightmove.

This decline is reflected in consumer confidence in the housing market which has dipped for the second consecutive month, as reported by the latest Woolwich Mortgage index. The lender says consumer confidence has fallen on average to 59 per cent from 61 per cent over the last three months.

Head of lending Andy Gray says: “We have seen a clear indication that people&#39s confidence in the housing market is starting to decline. However, this is not reflected in the level of activity which has once again seen great results.


TrustNet and Jupiter offer Sipp guide

Online fund information provider TrustNet and manager Jupiter are teaming up to launch an education guide for investors about self invested personal pensions. The two say there are anywhere up to 85,000 Sipp schemes running in the UK and a clear need to raise awareness both amongcurrent holders and eligible investors as to the scope […]

Strike threat over Corus final-salary plan

The ISTC union, which represents workers at Britain&#39s largest steelmaker Corus, is warning it will resort to strike action to defend final pension schemes for both existing and future employees. Corus&#39s pension arrangements will be reviewed next month when the accounts of the £8bn fund are published.

CIS announces new rate for CAT mortgage

CIS has set a new rate of 4.89 per cent fixed until September 2004 for its CAT standard mortgage.The mortgage is available for loans up to 95 per cent. There is no arrangement fee, indemnity guarantee or compulsory insurance. The basic valuation fee is refunded on completion. Interest is calculated daily and the mortgage is […]

Call for independent pensions forecasts

Financial services e-business software provider Aqera is calling on the Department for Work and Pensions to set up an independent body to provide composite pension forecasts to the public. Aqera says a centrally funded system could be providing composite statements within a year, ahead of the DWP&#39s forecast of 2005.

China tech and Global Alpha: a new great leap forward

By Robin Geffen, Fund Manager and CEO

Internet giant Alibaba is exactly the type of entrepreneurial company that the high-conviction, top-performing Neptune Global Alpha Fund seeks to invest in. Established just 14 years ago in an apartment in Hangzhou, today Alibaba is larger than Amazon and eBay put together and is challenging some of the most powerful internet companies in the world…

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Important information

Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.


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