The key macro-economic, personal finance, property and recruitment stories from today’s papers, read by Operations Director Jennie Haines.
Olympics has depressed housing market activity according to Rightmove. Prices fell 2.4 per cent, the largest fall Rightmove has ever recorded for August. London’s market was typicall strong, performing better that the country as a whole despite the impact of the Olympics, City AM p 8
Rents in England an Wales reached a new high last month as demand from would be buyers blocked out of the market continued to outstrip supply – report from LSL. Average monthly rent in England and Wales rose by 1 per cent last month to £725, surpassing the previous record of £720 in October last year, Time p 38
Britain’s property market has boosted the nations wealth to £6.8trillion, despite a global financial crisis – ONS figures, Tel pp B3
A review of the private rented housing market next week will urge ministers to drop the requirement for developers to include “affordable homes” in their schemes in exchange for a guarantee that the properties will be let rather than sold, FT p 3
Better than expected retail sales in June reinforced hopes yesterday that Britain’s recession is not as deep as initially feared. ONS showed sales volumes rose in July by 0.3pc, Tel B2, FT p 3
One in eight British workers – more than four million people fear they may never be able to afford to retire. ICM research commissioned by Baring Asset Management also showed almost half – 44 per cent of those aged 55 to 64 don’t know when they’ll be able to quit, Express p 2