House price correction until 2019

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House price correction until 2019

Halifax gloom as it sees house prices drop again

A disappointing October for house prices swelled the gloomy mood music over the UK’s recovery yesterday as lender Halifax warned of a deteriorating property market. Its latest house price index showed a 0.7 per cent decline in prices, the fourth successive month of falls, which takes the average UK price to £158,426, down 1.7 per cent compared with last year.

The Independent,  p. 57

No rebound in house prices until 2019 in ‘worst ever recovery’

House prices will not recover to their 2007 peak until 2019, the slowest housing market recovery on record, according to an industry forecast.

The Daily Telegraph Business,  p. 5

City cull to leave jobs at 20-year low by next year

The Centre for Economics and Business Research has said that the number of City jobs is forecast to fall to a 20-year low in 2013, reflecting the “collapse” in equity trading and mergers this year. Douglas McWilliams, CEBR chief executive, said: ‘The fall in activity is partly a function of the weak economy, partly a hangover effect from the financial crisis and partly caused by increasing regulation which limits access to bank cash to bankroll financial transactions.”

The Daily Telegraph Business,  p. 3

Also appeared in : Financial Times Companies and Markets,  p.19

Banks in danger of ‘pouring fuel on reputational bonfire’

Banks have been warned by the Institute of Chartered Accountants to get on the “front foot” in dealing with their reputational problems or risk a further public backlash.

The Daily Telegraph Business,  p. 4

Building a nest-egg without advice could come with heavy cost

Five and a half million people could be left in the lurch by new rules on selling financial products, according to the latest analysis by Deloitte that reveals how reluctant most people will be to pay for financial advice.

The Times,  p. 42-43

Corporate bonds get ready for Basel boost

Global banking regulators are considering including single-A corporate bonds from companies such as Siemens and Unilever as one of the “liquid” asset classes that can be held by banks.

This abstract from the Financial Times was produced by Kantar Media

Financial Times Companies and Markets,  p. 32

S&P faces class action over ABN securities

Standard & Poor’s faces the prospect of further legal action in the Australian courts over the rating of risky structured products after a litigation specialist said it would back a class action lawsuit.

This abstract from the Financial Times was produced by Kantar Media

Financial Times Companies and Markets,  p. 21

The above articles appeared on 07\11\12 reproduced with the kind permission of Kantar Media UK . All rights reserved.