TSB share price rises on third-quarter profits jump

first_img Share Friday 24 October 2014 2:34 am whatsapp whatsapp Show Comments ▼ center_img Guy Bentley Shares in TSB jumped 3.2 per cent this morning, after it published figures showing profits had soared 28.8 per cent to £33.1m in the three months to 30 September as it picked up nearly one in 10 new current accounts in the UK.Franchise banking net interest margin remained stable at 3.61 per cent, while the bank, which Lloyds floated in June, remains strongly capitalised with a pro forma fully loaded Common Equity Tier 1 capital ratio of 18.8 per cent. European banking rules dictate it must have a Tier 1 capital ratio of six per cent or greater. Paul Pester, TSB’s chief executive officer, commented:While we have always been clear that we are on a five year journey to grow TSB and its returns, it’s great to see people right across Britain continuing to vote with their feet for TSB’s local banking model. Nearly 1 in 10 of all customers who opened new bank accounts or switched during the last quarter chose TSB – this is well ahead of our long term target and is testament to the great service our TSB Partners continue to deliver.Last month, Lloyds announced it will sell another 11.5 per cent of its shares in TSB. The sale cut Lloyds’ holding in TSB to around 50.5 per cent.Swiss investment bank UBS had the sole mandate to run the book on the accelerated deal, with David Soanes and Christopher Smith rounding up the institutional investors to buy into the offer. Tags: Company TSB Banking Group TSB share price rises on third-quarter profits jump last_img read more

AstraZeneca surpasses revenue expectations as Pfizer bid fades

first_img Tags: NULL whatsapp Oliver Smith Thursday 6 November 2014 8:44 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Crazy Rich Asians’ Director Wishes He Made South Asian Roles ‘More Human’The Wrap AstraZeneca surpasses revenue expectations as Pfizer bid fades center_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunElvenar#StayAtHome and Play this Fantasy Game. No Install.ElvenarLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution Show Comments ▼ PHARMA giant AstraZeneca yesterday reported that third-quarter revenues had grown five per cent to $6.54bn (£4.09bn), beating analyst expectations of $6.41bn.The results mark the FTSE 100-listed firm’s third consecutive quarter of growth, having rejected a £74bn takeover bid by Pfizer in May.“I’m pleased to report our third consecutive quarter of revenue growth, driven by a strong contribution from our growth platforms,” said chief executive Pascal Soriot. “Brilinta, respiratory and diabetes, our three core franchises, increased sales by 38 per cent in the quarter, supported by continued selective allocation of sales and marketing resources.”In a call with reporters Soriot said hopes of a takeover by Pfizer remained unlikely after US tax changes. AstraZeneca’s shares slipped 0.62 per cent to close at 4,591.50p. whatsapplast_img read more

Libor fines to be spent on air ambulances and forces charities

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Tim Wallace Hundreds of millions of pounds in Libor fines will go to air ambulances, Gurkha and veterans’ hearing charities, the chancellor said yesterday.Banks paid the fines after their traders were accused of trying to manipulate key interbank interest rate Libor.The pledge comes after Osborne announced the fines for foreign exchange benchmark manipulation would be spent as part of a £2bn boost for the NHS, focused on general practitioners’ practices.“Libor fines will continue to support our military and emergency service charities with support for our armed services benevolent charities, the Gurkhas, and £10m for veterans with hearing problems,” Osborne said.“We will use Libor money for new helicopters for the Great Western Air Ambulance, and the Kent, Surrey and Sussex Air Ambulance too.” Show Comments ▼ Libor fines to be spent on air ambulances and forces charities whatsappcenter_img Share Tags: Libor rate-fixing scandal Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoHero Wars Advertisement This game will keep you up all night! Hero Wars UndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementUndoThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUndoFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUndo Wednesday 3 December 2014 8:09 pm whatsapplast_img read more

Boris Johnson praises Chelsea for becoming first Premier League club to adopt living wage

first_img Boris Johnson praises Chelsea for becoming first Premier League club to adopt living wage Joe Hall whatsapp whatsapp Show Comments ▼ Thursday 11 December 2014 1:07 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus Eliminator Share London mayor Boris Johnson has praised Chelsea for becoming the first Premier League club to sign up to the living wage. The current league leaders have been accredited by the Living Wage Foundation which advises companies pay staff a minimum of £9.15 per hour in London and £7.85 per hour everywhere else. Workers at Stamford Bridge will receive the London rate, but those at the club’s Cobham training ground fall outside the bracket.   League Two club Luton Town have also adopted the initiative, which has now been adopted by around 1,000 organisations in the UK. By paying the living wage, Boris Johnson said the Blues were “setting the right example”. Johnson said: Our great football teams are household names around the world, their every action is scrutinised in microscopic detail and by becoming the first professional sports team to commit to pay the London Living Wage Chelsea are setting the right example. They realise their team is more than just the 11 men out on the pitch, and that by putting more pounds in the pockets of their staff they are signing up to a win-win scenario that rewards a hard day’s work with a fair day’s pay for everyone. Johnson has been a vocal champion of it since he was first elected in 2008. The living wage is calculated to meet the cost of living better than the national minimum wage which is set at £6.50 per hour. Rhys Moore, director of the Living Wage Foundation, said that Chelsea’s decision showed them to be a “responsible business”. He commented: “The accreditation of Chelsea as a Living Wage employer marks a significant milestone in the campaign.” Chelsea chairman Bruce Buck said: “Quite simply, it is the right thing to do.” Tags: Boris Johnson employment and wages National Living Wage People UK jobslast_img read more

UK house prices 2014: Which area saw the most growth?

first_imgSunday 28 December 2014 4:41 am Share Billy Ehrenberg whatsapp After a roller-coaster year for house prices the results are in: the London borough of Greenwich is the place for price rises.According to data from Halifax, house prices in Greenwich rose 24.6 per cent over the course of 2014, far above the national average of 8.5 per cent and almost twice that of the London average of 13 per cent. The net plus for the year brings the average cost of a house in the UK to £209,428, Halifax says. Here is a breakdown of the top ten gainers in 2014:Crawley is a notable addition: it is the only local authority  outside London to make the list.That’s the good news for sellers, but what about buyers? Houses in Bury, a town between Boulton (to the west) and Rochdale (east), have reduced in price by an average of 4.8 per cent during 2014, while Keighley, northwest of Leeds, is 4.4 per cent cheaper than it was a year ago. All of the fastest 10 fallers are in either the North of England, Wales, or Scotland.   The majority of these gains came in the first half of the year: towards the end of 2014 each three month period showed lower growth, with expansion falling dramatically in October.Buyer sentiment had eased strongly by November, when mortgage approvals, one measure of market sentiment, were down 24.7 per cent from January’s 76-month high of 48,753 according to the British Bankers Association. The figure constitutes a drop of 19.5 per cent compared to November 2013. center_img Show Comments ▼ whatsapp UK house prices 2014: Which area saw the most growth? Tags: UK house priceslast_img read more

After UK shale triumph, Scotland announces moratorium on shale gas projects

first_img After UK shale triumph, Scotland announces moratorium on shale gas projects by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online Game Wednesday 28 January 2015 10:58 am Emma Haslett whatsapp Show Comments ▼center_img whatsapp The Scottish government has announced a moratorium on planning permission for shale gas projects, less than 24 hours after a crucial vote in the UK parliament had saved the sector in the rest of the UK from a similar plight. Last night MPs voted 308-52 against proposals to impose a moratorium across the whole of the UK. MP Tessa Munt resigned her post as a parliamentary aide to Vince Cable, after the voted against the government’s fracking proposals. However, Scottish MPs have launched an inquiry into the impact of fracking on public health, Scottish energy minister Fergus Ewing said today, adding that while the UK government is attempting to introduce fracking “quickly, at any cost”, Scotland is taking “a more cautious approach”. Until the report is concluded, there will be a total moratorium on planning consents. At the moment, there are no projects underway in the area.Scotland is thought to have 80 trillion cubic metres of shale, enough to keep the whole of the UK going for the next 30 years. Although the north of England alone is thought to have around 40 trillion cubic metres – which isn’t counting the reserves under the home counties. Yesterday unions gave their backing to the vote, with the GMB union saying that to vote for the moratorium would be a “total abdication of any moral responsibility” for the UK’s use of gas.”We will be using gas for many decades to come and this gas needs to come from somewhere.” Share Read This NextYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily Proof Tags: Shale gas frackinglast_img read more

Tesla’s full year results fail to meet expectations, with deliveries down due to delays

first_img whatsapp Tesla’s full year results fail to meet expectations, with deliveries down due to delays whatsapp  Tesla’s full year results are likely to reverse investor confidence.The figuresDuring the three months to 31 December 2014, Tesla Motors delivered 9,834 cars to clients – lower than the 11,200 deliveries analysts hoped for and expected. Similarly, the 31,655 cars delivered during the full year to 31 December failed to meet the expected 33,000. Still, the number was an increase on the 22,500 deliveries in 2013.  When it comes to the long-awaited Model X vehicle, Tesla said it entered 2015 with 20,000 reservations, but still none of these have turned into actual deliveries. Shipping of the product is due to begin in six months, according to the latest update. The luxury car manufacturer said the main cause of the worse-than-expected results was production delays, which forced some deliveries to take place in January this year instead.  That was not all, however. In a statement released this evening, the company said:  “While we were able to recover the lost production by end of the quarter, delivering those cars was physically impossible due to a combination of customers being on vacation, severe winter weather and shipping problems (with actual ships).”Why it’s interestingThe fact that Tesla was unable to meet its estimated 33,000 deliveries seems even worse when you consider that it had already been brought down from 35,000 in November. At the time it blamed it on a shortfall in production during the third quarter, which resulted in fewer cars being available for delivery by the end of the year.  Carter Driscoll, senior analyst at boutique investment bank MLV & Co., told Fortune that as long as as the delivery numbers came in at around 32,000, it should be viewed as positive. If they came in at 31,000 or below, the stock would react negatively. The fact that they came in somewhere in between makes it hard to judge the response, but it certainly doesn’t look like it will be too positive. The longer wait for Model X vehicle purchasers will send a negative message about the company’s near prospects, too – originally, the first deliveries of the falcon-winged vehicles were planned for early 2014. The company has pushed back the delivery date several times in the past year.  It has been a troubling few months for Tesla in terms of Asian markets, too – last month, chief executive’s Elon Musk admitted that things weren’t going so well for the business in China. At the International Auto Show in Detroit, he said sales there had been weaker than expected in part due to misconception that charging is difficult in China. “There are communications issues we need to fix,” he said to the audience.  All of this has worked against Tesla in terms of its share price – since the start of 2015, shares have been some way off 2014 peak of $291 (£191).What Tesla saidIn a statement released by Musk this evening, he said the market problems experienced in China so far had not diminished his long-term confidence in the region: Despite initial challenges in China, we remain convinced of the vast potential of this market and are concentrating our efforts on the cities we are in currently, before launching into new cities. Our China initiatives include simplifying the buying process there by having Tesla personnel install charging points at customer homes or businesses well before vehicle delivery.  He also remained optimistic about the year ahead for Tesla, predicting that vehicle deliveries will grow by 70 per cent over the course of 2015.  Sarah Spickernell Wednesday 11 February 2015 6:16 pm Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoLivestlyThe Best Redhead Actresses, RankedLivestlyUndoNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyUndoBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndo Share Tags: Tesla Motorslast_img read more

Woodford warns UK investment will wilt in face of EU referendum

first_img Woodford warns UK investment will wilt in face of EU referendum Show Comments ▼ Monday 9 March 2015 12:43 am Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Express KCS Sharecenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesComedyAbandoned Submarines Floating Around the WorldComedyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.comTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBall whatsapp TOP FUND manager Neil Woodford, who invests about £9bn on behalf of UK savers, has warned a UK exit from Europe will stem the tide of international investment into Britain.“The likelihood of a referendum I think will put a brake on external investment, international investment in the UK,” he said in an interview with the BBC. The manager, considered the most influental retail-backed investors, looks after £9.3bn at his investment boutique Woodford Investment Management.He also said the Eurozone was not viable in its current form and foresaw economics trumping politics in the bloc’s decision on whether to push to keep Greece in the currency union. “I’m very conscious of the stresses and strains ,” he said. Tags: NULLlast_img read more

Cigarette plain packaging could leave UK government with £11bn legal bill

first_img Express KCS Share Cigarette plain packaging could leave UK government with £11bn legal bill Show Comments ▼ whatsapp Tobacco giants last night warned that the government could be landed with a huge legal bill, after plain packaging for cigarettes came a step closer yesterday with a vote in parliament backing the move.British American Tobacco (BAT) confirmed that if the House of Lords gives its final approval to the proposals next week, it will take legal action. Analysts at Exane BNP Paribas estimated last year that legal bills for the UK government could reach as much £11bn.BAT’s Jerome Abelman said: “Legal action is not something we want to undertake, nor is it something we enter into lightly – but the UK government has left us with no other choice after running what can only be described as a flawed consultation process.” Citing the loss of the use of intellectual property, Abelman said: “Any business that has property taken away from it by the state would inevitably want to challenge and seek compensation.”Another tobacco giant, Philip Morris, is already taking action in Aust­ralia. Analyst James Bushnell said the UK move could also see plain packs introduced elsewhere: “The whole plain packaging issue is symbolic, because if it does get through in the UK and Ireland it potentially opens the door for other countries in the EU. It’s not just about the UK.” whatsapp Wednesday 11 March 2015 10:14 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Tags: British American Tobacco Companylast_img read more

UK house prices: Surprise drop in house price growth sends annual rate to two-year low, according to Nationwide house price index

first_imgThursday 2 July 2015 2:30 am Catherine Neilan Tags: London house prices Nationwide UK house prices Share whatsapp Show Comments ▼center_img House price growth has dropped to a two-year low on the back of declines in June, according to Nationwide’s latest report.  Prices have dropped a surprise 0.2 per cent in June – halting increases in both May and April – causing the annual rate of increase to drop to just 3.3 per cent. One month earlier that figure stood at 4.6 per cent. At its peak in June last year, house prices were growing at 11.8 per cent.  Out of 13 regions in the UK, 11 experienced a slowdown in the annual rate – although most parts of the country, other than Wales and Scotland, are still in growth. Despite this, prices rose one per cent in the second quarter compared with the first three months of the year.  Robert Gardner, Nationwide’s chief economist, said: “House price growth continues to outpace earnings, but the gap is closing. “The slowdown in house price growth is not confined to, nor does it appear to be driven primarily by, developments in London. In quarter on quarter terms, London has continued to see price growth at or above the rate in the UK overall over the past three quarters, while the annual rate of price growth in the capital remains the second highest in the country.”  But Gardner noted that the gap between population growth and the rate of housebuilding could mean that “housing stock is likely to be used increasingly intensively until building activity catches up”.  “There are signs that this has been occurring, with the number of vacant properties trending down since 2008, though council tax changes in 2013 impacted reporting and probably overstate the decline in the last two years.” Howard Archer, chief European and UK economist for IHS, said: “While we are slightly surprised by June’s dip in house prices, it does not fundamentally change our view that house prices are likely to be firmer over the second half of the year amid improving activity. A current shortage of properties  on the market is also likely to provide support to house prices. “Consequently, we maintain the view that house prices will rise by six per cent over 2015. We currently see house prices rising by around five per cent in 2016.” whatsapp UK house prices: Surprise drop in house price growth sends annual rate to two-year low, according to Nationwide house price index last_img read more