Every Saturday, The Consumer Crew are here to solve your problems. Mel Hunter will take on readers’ consumer issues, Jane Hamilton will give you the best advice for selling your home and Judge Rinder will tackle your legal woes. Judge Rinder Q) MY HUSBAND received his military pension forecast 12 months ago and we made arrangements accordingly. But now he’s received his pension it is £4,000 a year less than the forecast. We queried this but were told the amount received was correct. This lower figure has now resulted in us having to scrap all of the plans we had made. I suffer with ill health and was going to give up my job on the strength of the forecast. Is there anything we can do as the pension provider has openly admitted that it has made a mistake? Stella, Oxford A) This is an awful situation. Sadly fighting this is going to be challenging. The pension company’s mistake is unlikely to give you legal grounds to force it to pay out the sum it originally … [Read more...] about My husband’s military pension in £4,000 a year less than forecast… is there anything we can do?
10 year house price forecast
House prices grew at the slowest rate since 2013 in January, according to official figures that signalled the UK was heading later this year for the first fall in property values since the financial crash. Average house prices in the UK increased by 1.7% in the year to January 2019, down from 2.2% in December 2018 and 5.1% in October 2017, the Office for National Statistics said. If the trajectory of sliding prices over the past two years continues, the UK is expected to suffer its first fall in prices since the post-crash property slump of 2011 before the end of this year. Most of the slide in prices has affected London as buyers have taken flight while Brexit uncertainty has deepened. London prices fell by 1.6% over the year to January – a bigger slump than the 0.7% seen in December 2018. This was followed by the east of England, where prices fell 0.2% over the year. The Treasury’s official forecaster, the Office for Budget Responsibility, has predicted a fall in prices … [Read more...] about House price growth at six-year low and inflation rises to 1.9%
House prices in Peterborough decreased by 1.4% in December, despite witnessing a 4.6% rise over the last 12 months. The latest data from the Office of National Statistics shows that the average property in the area sold for £192,594 – significantly lower than the UK average of £230,776.Across the East of England, property prices have risen by 0.2% in the last year, to £289,602. The region underperformed compared to the UK as a whole, which saw the average property value increase by 2.5%.The data comes from the House Price Index, which the ONS compiles using house sale information from the Land Registry, and the equivalent bodies in Scotland and Northern Ireland.The average homeowner in Peterborough will have seen their property jump in value by around £52,000 in the last five years.The figures also showed that buyers who made their first step onto the property ladder in Peterborough in December spent an average of £162,443 – around £43,000 more … [Read more...] about Peterborough house prices down by 1.4% in December
News / Scotland by Press Association 13/02/2019, 10:06 am Send us a story Sign up to our Daily newsletter The cost of housing in Edinburgh and Glasgow is set to rise above UK averages over the next five years, according to market analysis. Figures published by property consultancy firm JLL forecast it will become more expensive to buy or rent a home in both cities. JLL said by 2023, prices will rise in Edinburgh by 16.5% and in Glasgow by 13.7%. Across Scotland, there is expected to be more moderate growth of around 11.5% – marginally outperforming the UK five-year forecast of 11.4%. House price growth in Scotland has increased 17% in the past five years, below the growth of 31% seen across the UK. The firm said Scotland, like the rest of the UK, has under-delivered the number of homes needed to meet demand or to achieve the required targets. The average sales price of a typical two-bed flat in Edinburgh city centre at the end of 2018 was £285,000, a … [Read more...] about Edinburgh and Glasgow to see house prices rise, analysis forecasts
News / UK and world by Press Association February 7, 2019, 12:24 pm Send us a story Sign up to our Daily newsletter The Bank of England has warned Brexit uncertainty is set to see growth slump to its lowest level for 10 years in 2019, as it held interest rates at 0.75%. The Bank slashed this year’s growth forecast to 1.2% – the lowest since 2009, when the economy contracted by 4.2% at the height of the recession following the financial crisis. Its shock downgrade compares with 1.7% predicted in November, while the Bank also cut its outlook for 2020 to 1.5%. The gloomy growth outlook came as policymakers on the nine-strong Monetary Policy Committee (MPC) voted unanimously to keep rates unchanged. The Bank’s quarterly inflation report also signalled rates may not rise until the second half of 2020 as Brexit worries have seen businesses freeze spending, while it warned consumer confidence had “weakened significantly”. Sterling tumbled … [Read more...] about Bank slashes growth outlook to weakest for 10 years as it holds interest rates