UK house prices grew at an annual pace of 0.5% in December, the Nationwide building society has said, the slowest annual rate since February 2013. The lender says uncertainty over the economic outlook appears to be undermining confidence in the market. London and surrounding areas saw a small fall in house prices in 2018. Northern Ireland saw the biggest house price rises, up 5.8%. Prices in Wales climbed 4%, in Scotland they were up 0.9% and in England they rose 0.7%.
The North-South divide in house prices will narrow in the next five years as property values in northern England rise by a fifth, a report suggests. Estate agent Savills has predicted that British house prices will rise in line with average incomes from 2019 to 2024. But house price growth will range from 21.6% in the North West of England to 4.5% in London. Scotland and Wales will see property values rise by nearly 20% over the same period, Savills believes. Lucian Cook, head of residential research at Savills, said that house prices in these areas were recovering more slowly from the financial crisis than London.
Land from ancient France is now part of Devon and Cornwall, geologists studying how Britain was formed have revealed. Their theory comes after studying the chemical profile of the west country counties' rocks, which have more in common with France than the rest of the UK. For centuries scientists thought England, Wales and Scotland were created by the merger of two land masses more than 400 million years ago. Earth's continental fragments were on the move and Avalonia, which would become England and Wales, collided and fused with Laurentia, which would become Scotland. Experts now now believe a third land mass - Armorica, which includes Brittany and Normandy - was also involved in the process.
Sun 15 Sep 2019 08.54 EDT Last modified on Sun 15 Sep 2019 09.00 EDT Global regulators will question Facebook on Monday about its Libra cryptocurrency amid concerns from EU governments over the threat the digital currency poses to financial stability, according to the Financial Times. Officials from 26 central banks, including the US Federal Reserve and the Bank of England, will meet with representatives of Libra in Basel on Monday, the FT said, citing officials. Libra's founders have also been requested to answer key questions about the currency's scope and design, FT said. Facebook did not immediately respond to Reuters' request for comment outside regular business hours. Countries including France and Germany have publicly criticised the social media giant's Libra project, saying it posed risks to EU states' sovereignty.
On November 15th, my credit risk analytics course will be available as e-Learning. Send me an email at Bart.Baesens@gmail.com Bart Baesens holds a master's degree in Business Engineering (option: Management Informatics) and a PhD in Applied Economic Sciences from KU Leuven University (Belgium). He is currently an associate professor at KU Leuven, and a guest lecturer at the University of Southampton (United Kingdom). He has done extensive research on data mining and its applications.