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Land Registry records 13.5% house price growth

The average house price in England and Wales is now £133,247, reveals latest quarterly figures from the Land Registry. This is a rise of 13.5% on the comparable 2001 price of £117,398.

The price report covers the period April to June 2002, and compares average prices and volume of sales with those for the same period in 2001.

The report shows an increase in average prices across all economic regions of England and Wales. The volume of sales increased by 10.06% from 266,536 in 2001 to 293,352 for the same period in 2002.

In greater London average property price increased by 13.12% from £205,831 in 2001 to £232,830 for the same period in 2002. The volume of sales increased by 9.24% from 35,410 in 2001 to 38,681 for the same period in 2002, and 506 properties over £1m were sold.


Government launches corporation tax consultation

The government has launched a consultation on reforming the corporate tax system. Announcing the consultation, Dawn Primarolo, paymaster general, said: “In 1997 the government set out to reform and modernise the corporate tax system and boost the UK&#39s competitiveness in the global business environment. “The strategy and objectives underpinning these reforms were set out in […]

New legislation for mortgage regulation published

New regulation for mortgage advice was published has been published by HM Treasury. The regulations are the outcome of extensive consultation earlier this year. Ruth Kelly, Financial Secretary to the Treasury, says: &#34Buying a mortgage is the biggest financial decision most people will ever make. It is vital that people make the right choice – […]

Next Treasury paper imminent says CML

The Council of Mortgage Lenders is expecting near final rules on mortgage regulation and the latest consultation paper from the Financial Services Authority to be published by the end of this week.Mortgage Strategy has seen a secret memo sent on Friday to members of the Mortgage Intermediary Advisory Group, which says that the FSA&#39s consultation […]

Brokerage denies ex-employee&#39s malpractice accusation

Master broker theblack&whitemortgagecompany has strenuously denied allegations of malpractice made by a former employee.Several claims against the brokerage, which appointed its 200th mortgage adviser in July, have been made by the former employee. But chairman Chris Ollerenshaw denies the claims.He says: “This is obviously one of our ex-sales staff who has become a little disgruntled. […]

Three catalysts for European equities

By Rob Burnett, Manager of the Neptune European Opportunities Fund In recent weeks, the bear case for European equities has become more pronounced on the back of weaker-than-expected GDP data and deflation concerns. This softening in economic momentum has led some investors to question whether the ECB is behind the curve and indeed whether it […]


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