After August's bounce a 1.1% rise house prices fell in September by 0.4% compared to September 2011, according to Nationwide building society. Based on its quarterly index, ten out of 13 British regions are showing year-on-year declines; London is the strongest region, bucking the trend with a 2.1% rise. Nationwide also noted that the rate of new construction was around 25% lower for Britain as a whole in the year to June 2012, than for the previous five years.
Savers who bag the leading rates offered by banks and building societies should remember to move once the initial deal period runs out, says Sylvia Morris on Thisismoney.co.uk. Those with money in accounts such as Santander's eSaver 4, Halifax Online Saver or Lloyds TSB Easy Saver "will end up earning as little as 0.08% if they fail to move their money". If you do open an account with a bonus rate', always put a note in your calendar to ensure you don't get caught out.
If you're an early bird who likes to get your Christmas shopping done early, think twice before buying gift vouchers as presents, says Martin Lewis, founder of Moneysavingexpert.com. In the current climate there's too much risk that the issuing retailer may go bust or changehands, in which case you have "no rights". JJB Sports is the latest retailer in administration to leave anyone who bought its gift vouchers out of pocket. Even if an issuer remains solvent, gift cards can't be returned and many expire unused. The solution? Give cash, says Lewis: "it's the ultimate rewards point scheme. It can be used on anything."
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"Your pension may be 75% invested in bonds as you near retirement bad news if they crash," warns Richard Evans in The Sunday Telegraph. Many pension savers nearing retirement may choose toallocate a big proportion of their fund to bonds, hoping they are a safe haven. Some schemes automatically do this, reallocating away from supposedly riskier equities. But should the bond bubble burst, this strategy could backfire. As Charles Morris of HSBC notes, thanks to a flood of money piling into bonds, they are "horrendously expensive by any measure". A good bet, according to Dr Ros Altmann, director-general of Saga, is a diversified fund that holds a mixture of shares, bonds, property, cash, commodities and alternative assets.
Watch out if you have piled money into previously legitimate schemes as HMRC begins a crackdown on tax avoidance, says Ali Hussain in The Sunday Times. Danny Alexander, chief secretary to the Treasury, said last week that the government is on track to raise £4bn this year from tax dodgers. Ex-HMRC official Heather Self warns that "schemes that were encouraged by the government... could be found to fall foul of HMRC rules". In particular investors in Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) could be asked to pay up where HMRC believes a scheme has been used simply to gain a tax break. Talk to your financial adviser or accountant as soon as possible.
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London Stock Exchange gets go-ahead to run Pisces private stock marketThe Pisces market will allow investors to buy and sell shares in private companies. But how will it work, when will it launch, and who is allowed to use it?
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Could landlords face National Insurance on rental income?The Treasury is said to be considering a tax increase for landlords in an attempt to boost revenue in Rachel Reeves’s Autumn Budget
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Lloyds Bank returns with £175 bank switch bonus – is it worth moving banks?Lloyds Bank is offering customers £175 to move to one of its Club accounts. We look at whether it’s worth taking advantage of the bank switching bonus
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Lloyds Bank unveils new pension service – is it any good?Lloyds is the first high-street bank to launch a ready-made pension service. How does it work, is it any good and who can save in it?
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iPhone users can now check bank balance from Apple WalletNew tool aims to make it easier for smartphone users to track bank balance and spending
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TSB pulls £150 switching deal - what are the alternatives?TSB has pulled its £150 switching offer, and while there are still other deals on the market, offering up to £200, you will need to act quickly to bag the free cash
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Nationwide launches £200 switching bonus - plus a linked 8% regular saver accountEarn £377 in one year with Nationwide’s new switching bonus and linked 8% savings account
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Watchdog summons banks to explain paltry savings ratesSavings rates trail mortgage rates - and the financial watchdog has summoned banks to a meeting amid concerns of profiteering.
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Best savings rates – earn as much as 4.84%Savings The best savings rates on the market are offering up to 4.84% on your cash. Act fast before these top-paying accounts disappear
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Six shared banking hubs open as more branches close - where to find themNews Six banking hubs are now up and running, and aim to plug the gaps left by branch closures. We explain who can use them and if there’s one near you.
