In the news this morning, signs of a softer housing market in the latest figures from the BBA, as mortgage approvals drop 21% compared with a year earlier. Meanwhile, NAEA data reveal rising supply, with an average of 41 properties for sale per branch. Elsewhere, Standard Life Investments announces it will lift the trading suspension on its UK real estate fund.
Mortgage approvals down 21% on year (The Independent/FREE)
Mortgage approvals were 21% lower on the year in August, at a total of 36,997, figures from the British Bankers’ Association showed. On the month, the figure was down 1.8%.
Number of homes for sale increases (The Times/£)
The number of homes for sale increased to 41 per branch in August, figures from the National Association of Estate Agents showed.
SLI to lift suspension on its real estate fund next month (FT/£)
Standard Life Investments is to lift the trading suspension on its UK real estate fund from 17 October.
Student life on Park Lane (The Independent/FREE)
The newest student accommodation to come onto the market is not your average, with the rent on the three-bedroom townhouse costing £4,000 a week or £192,000 a year.
Aldi reports record sales (The Times/£)
Aldi reported record sales of £7.7bn for the year ended 31 December, although the 12% increase was weaker than in the previous year.
London tops global financial rankings, for now (FT/£)
While London continued to top the semi-annual Global Financial Services Index, there are indications its ranking could be under pressure in the next survey.
