Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

Are House Prices Continuing To Fall?

The latest survey carried out by The Royal Institute of Chartered Surveyors (RICS) shows that house prices in the UK have fallen once again during the month of September.

The monthly survey showed a rise of 14.6 percent in surveyors claiming a substantial fall in house prices within local areas as opposed to any signs of an increase.

In addition it was reported that new buyer enquiries are down for the tenth consecutive month, with a further decline in house sales and new instructions to sell property. It is thought to be the fastest rate of decline over the past two years.

Reasons given by RICS for the continuing decline are: higher interest rates (five increases imposed so far by the Bank of England since June 2006), the tightening of lending criteria as a result of the wayward financial markets and the introduction of Home Information Packs (HIPs).

The crisis at Northern Rock, one of the UK's most active lenders, is also thought to be a factor adding to the downward trend. Many people have become somewhat less confident with regards to buying which in turn has seen a decrease in mortgage applications.

East Anglia, Wales, West and East Midlands appear to have suffered the most while the South, North West, Yorkshire and Humberside have seen only moderate price declines. Scotland and London on the other hand continue to experience steady growth in house prices.

Published on October 13, 2007

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