Stephen Little

UK house price growth slumps to five-year low

Figures from the Office for National Statistics show that average house prices in the UK increased by 2.5% in the year to December - down from 2.7% in November.

Over the past two years, there has been a slowdown in UK house price growth, driven mainly by a slowdown in the South and East of England.

Investment scams cost victims £29,000 on average

Last year, fraudsters stole £197 million from unsuspecting Brits, taking on average £29,000 per scam, according to Action Fraud – the national fraud and cyber-crime reporting centre.

The most common scams reported involved 'investments' in shares and bonds, foreign currency exchange and cryptocurrencies.

How shrinkflation hits your pocket

The Office for National Statistics (ONS) examined around 17,000 items between September 2015 and June 2017.

As many as 206 products shrank in size, while 79 increased, according to the ONS. 

Housing market outlook worst for 20 years as Brexit black cloud looms

The Royal Institution of Chartered Surveyors (RICS) says that 28% of surveyors expect sales to be either flat or negative across all parts of the UK over the next three months. It is the most pessimistic reading since records began in 1999.

Many surveyors who responded blamed Brexit uncertainty for the slump in the market.

Banks boost profits on back of over-60s’ current account cash

These customers are earning the banks the most profits compared with those paying high overdraft charges, research from the financial services regulator the Financial Conduct Authority (FCA) shows.

Banks are able to profit from savings held in accounts as they are able to use the money to fund loans and mortgages, which they can then charge higher rates on – known as the funding benefit.

Young fear state pension will vanish before they retire

According to financial provider Canada Life UK, one in seven (14%) people think that the state pension won’t exist by the time that they retire – rising to one in five (20%) of 18- to 24-year-olds.

Despite recent governments being wary of being seen as giving pensioners a poor deal, people think that this is likely to change.