Hannah Nemeth

House price growth at slowest rate in five years

House prices have increased at their slowest rate since March 2013 at just 1.5% higher than last year, according to latest figures from Halifax.

Property prices slowed from 2.5% annual growth in September to 1.5% in October, with the average house price now standing at £227,869.However, on a monthly basis, property prices went up slightly – by 0.7% – in October.

This mirrors Nationwide's house price index earier this week, which also revealed a five-year low as the squeeze on household budgets and Brexit uncertainty continue.

London house prices fall for fifth quarter in a row

Robert Gardner, Nationwide's chief economist, says that annual house price growth has been confined to a fairly narrow range of between 2 per cent and 3 per cent over the past 12 months, which suggests 'little change in the balance between demand and supply in the market'.

Parents looking for expert guidance to give children financial help

Parents aged 55-plus desperately need financial guidance and tax incentives to help kids, according to new research from equity release adviser Key.

More than three quarters (78 per cent) would welcome tax incentives for gifting to their children for major life events, such as university fees, buying their first home or to clear debt.

‘Scandal brewing’ over undervaluation in equity release sector

Think tank the Adam Smith Institute (ASI) suggests that there is a ‘scandal brewing’ in the UK’s equity release sector, arguing that the Prudential Regulation Authority (PRA), the industry regulator, has known for years that companies’ valuation methods are inadequate but ‘only made half-hearted efforts’ to address the under-valuation problem.

'Rent A Room' rules to be tightened

The government is planning to change the rules on its Rent A Room scheme, which allows people to earn up to £7,500 a year tax-free from letting out a spare room, following the outcome of a call for evidence on whether the current system is working.

The top ten areas where £1m-plus houses sell fastest

The property portal reports that £1 million-plus homeowners in Cambridge are, on average, selling their homes in just 45 days while property owners in Edinburgh and Harpenden in Hertfordshire, are also witnessing quick sales, typically taking just 53 days to sell. Bristol is also popular with buyers, who are snapping up homes in just 54 days.

Other towns in the top 10 fastest selling list are: Brixton in south London, Hackney in east London, Golders Green in north London, St Albans, Winchester, and Woking.

Industry leaders to expand dormant assets scheme

Four business leaders have been appointed by the government to expand and develop the dormant assets scheme, Tracey Crouch, Minister for Sport and Civil Society and John Glen Economic Secretary to the Treasury announced yesterday.

Bank or building society accounts that have been left completely untouched for more than 15 years can be used for good causes under the current dormant account scheme.