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Utente:RacheleMitchell526

2012-03-29T01:08:26Z

109.150.35.198: Nuova pagina: The number of homes sold for more than �2m - now subject to a higher stamp duty rate - fell at the end of last year, new figures show. There were 103 �2m-plus homes sold in Decemb...

The number of homes sold for more than �2m - now subject to a higher stamp duty rate - fell at the end of last year, new figures show.

There were 103 �2m-plus homes sold in December in England and Wales - an 18% drop from the same month a year earlier, the Land Registry said.

Of these, 80 were sold in London, where prices have been rising the fastest.

The sales came before Chancellor George Osborne introduced a new 7% stamp duty rate in Wednesday's Budget.

There are various rates of stamp duty land tax - paid by the buyer of a property - already in place, depending on the cost of the home.

The chancellor said that those who bought the most expensive homes should contribute more. This will mean the buyer of a home at a cost of more than �2m must pay at least �140,000 in stamp duty.

The Treasury expects the measure to raise �150m in the next financial year, rising to �300m by 2016-17.
First-time buyers

The Land Registry provides the latest accurate data on the sales of homes at certain price bands.
Continue reading the main story
Current stamp duty thresholds

* 1%: Properties of �125,000 to �250,000, but first-time buyers are exempt until 24 March
* 3%: �250,000 to �500,000
* 4%: More than �500,000
* 5%: More than �1m, residential property only
* 7%: More than �2m, residential property only

In December, the biggest proportion of homes were sold for between �100,000 and �150,000, with a total of 14,385 sold.

Any first-time buyers who bought homes at this price would have been exempt from stamp duty at the time.

However, from Saturday, all buyers of homes sold for more than �125,000 will have to pay stamp duty because this exemption is coming to an end after two years. Mr Osborne said it had been "ineffective" in increasing first-time buyer numbers.

In the Budget, the chancellor also announced that the level of stamp duty on residential properties over �2m which were bought via a company would increase to 15% with immediate effect.

In addition, overseas companies that already own UK residential property worth more than �2m will be subject to capital gains tax from April 2013.

Overall, the Land Registry said house prices in England and Wales rose by 0.1% in February compared with the previous month.

However, prices were down 0.6% compared with February 2010. The average home cost �161,588.

Utente:MarinnaJanson969

2012-03-27T00:31:03Z

109.150.35.198: Nuova pagina: Spain's Iberia has launched a new entry in Europe's competitive market for low-cost airlines. The new airline, Iberia Express, begins on Sunday with prices starting at 25 euros (�21...

Spain's Iberia has launched a new entry in Europe's competitive market for low-cost airlines.

The new airline, Iberia Express, begins on Sunday with prices starting at 25 euros (�21) for a one-way ticket.

Iberia Express will cover Spanish cities including Madrid and the islands such as Ibiza, Fuerteventura and Lanzarote.

The launch comes after Spain's fourth-largest airline Spanair collapsed in January, stranding 20,000 passengers.

Iberia is owned by the same parent company that owns British Airways.

The low-cost Iberia Express has 500 staff and has a fleet of four Airbus 320 plane, according to Iberia chief executive Luis Gallego.

"The containment of costs will allow Iberia Express to grow and compete with the low-cost operators," he said.
Labour dispute

The new airline's website is advertising for pilots and cabin crew.

The airline will initially fly to the cities of Vigo, Santiago and Granada, as well as Menorca, Ibiza, Fuerteventura, Lanzarote and La Palma.

Later, it will expand to the Republic of Ireland, Italy, Greece, Latvia and the Netherlands, Mr Gallego said.

The airline is also the subject of a labour dispute, with the union representing Iberia's 1,600 pilots fearing it will lead to job losses.

Spanair's collapse cause misery for its passengers

The dispute with the union led to 12 days of work stoppages in December and January to protest the low-cost airline.

Separately, the Spanish government has said it is taking legal action over the collapse of Spanair, saying it could be fined 9m euros.

In 2010, Spanair reported an operating loss of 115m euros.

After Spanair's collapse, Irish rival Ryanair said it was examining opportunities in Spain. "We certainly see it as an opportunity to expand our base," it said.

Utente:MarcellaKayser560

2012-03-26T11:02:21Z

Utente:AnalleseMcclean116

2012-03-25T20:57:33Z

109.150.35.198: Nuova pagina: Cautious consumers' repayments on credit cards, loans and overdrafts outstripped new borrowing by �305m in February, figures show. This safety-first approach had led to a contractio...

Cautious consumers' repayments on credit cards, loans and overdrafts outstripped new borrowing by �305m in February, figures show.

This safety-first approach had led to a contraction in borrowing through loans and overdrafts for more than three years, major banks said.

The figures, from the British Bankers' Association (BBA), showed a slowdown in activity in the mortgage market.

It said remortgaging levels were at their lowest for 13 years.
'Difficult economic times'

Despite their cautious approach, consumers still spent �7bn on credit cards in February - a similar level as the previous six months, the figures show.

Repayments outstripped new borrowing on credit cards by �39m in February. The repayment in unsecured lending was driven by weak demand, and continued payback, of loans and overdrafts.

Unsecured lending by the banks contracted by 1.8% in the 12 months to February.

"Businesses and households continue to be cautious about their finances in the face of difficult economic times and this shows up in a reluctance to take on new credit, or where possible, seeking to pay back bank borrowing," said BBA statistics director David Dooks.
Mortgage dip

In the housing market, gross mortgage lending by the banks stood at �7.9bn in February, which was 1.9% lower than the same month a year earlier.

With interest rates set to stay at low levels for some time, the number of remortgaging approvals dropped to its lowest level for 13 years at 18,147. Lenders have also become more choosy about who they accept for remortgaging.

The number of mortgages approved for house purchases also fell to 33,103 in February. The average mortgage approved was �146,600.

The BBA said that there had been a jump in activity at the start of the year as first-time buyers tried to get on the property ladder before a 1% stamp duty charge for homes valued between �125,000 and �250,000 is reintroduced on Saturday.

However, activity returned to more "normal" levels in February, said the group which represents the High Street banks.

Utente:GeorginaDavies23fg

2012-03-25T14:44:48Z

109.150.35.198: Nuova pagina: he proportion of shops in Britain lying empty has hit a new record of 14.6% in February, according to figures compiled by the Local Data Company. Vacancy rates had begun to stabilise ...

he proportion of shops in Britain lying empty has hit a new record of 14.6% in February, according to figures compiled by the Local Data Company.

Vacancy rates had begun to stabilise at the end of 2011, but they have risen in January and February, the LDC said.

It is further evidence of a difficult start to the year for retailers.

Consumer confidence also slipped back in February, the latest survey from Nationwide indicated, largely due to concerns about employment prospects.
Continue reading the main story
�Start Quote

It is a timely reminder to the government... of the significant challenges facing town and city centres up and down the country�

End Quote Matthew Hopkinson Local Data Company

* High Street casualties
* Cautious consumers 'pay off debt'
* Job woes hit consumer confidence
* Sharp decline in UK retail sales

There was an increase in the number of respondents describing their economic situation as bad.

"Consumers also scaled back their expectations for the future, with the forward-looking aspects of the index weakening during the month," said Nationwide chief economist Robert Gardner.

New figures from the Bank of England, also released on Friday, back this up.

Cautious consumers are choosing to pay off credit cards and loans, rather than take on new borrowing, the data indicate.

Evans Cycles, one of the UK's biggest bike retailers, told the BBC's Today programme that it was having to be very conscious about prices.

"We are peddling into a headwind in terms of the consumer economy," said chief executive Nick Wilkinson. "Confidence remains low, getting people to spend money on a bike is about persuading them that it is value for money."

However, Nationwide added that the number of consumers planning to buy household goods - an indicator of confidence - was higher in February than a year earlier.

This reflects official retail sales data for the month, published by the Office for National Statistics (ONS) on Thursday.

Sales volumes declined by a larger-than-expected 0.8% in February, the ONS said.

But they were still 1% higher than a year earlier.
'Damaged' High Streets

The Local Data Company said the rise in empty premises was "not unexpected" as retailers continue to cut back and even go bust.

Game, which has 600 High Street branches in the UK, said this week that it was going into administration after key suppliers stopped doing business with them. It is continuing to trade while it tries to find a solution to its debt problems.
Continue reading the main story
'Most at risk towns and cities'

* Bradford
* Derby
* Wolverhampton
* Southampton
* Hull
* Sheffield
* Swindon
* Warrington
* Stockport
* Nottingham

Source: BNP Paribas Real Estate ranks retail centres according to likelihood of more shops closing and the place's ability to withstand a weakening economy

"It is a timely reminder to the government, who are due to respond to the Portas Review this month, of the significant challenges facing town and city centres up and down the country," said LDC director Matthew Hopkinson.

Retail consultant and TV presenter Mary Portas was asked by the government to look at ways to revitalise struggling town centres.

Her report, published in December 2011, recommended cutting regulations and proposed a bigger role for street markets in town centres.

"It's crucial that the government responds to Mary's review with a menu of recommendations next week that local people, councils and businesses can 'pick and mix' to help start to reverse the damage that many of our high streets have suffered," said Ian Fletcher, director of policy at the British Property Federation.

Utente:GeorginaYingling934

2012-03-25T11:47:51Z