House price divide revealed

The 1-minute read to get all the money news plus expert adviser views.

North west growing fastest

The north-south divide in the property market has been turned on its head, with house prices growing fastest in the north west. London is the worst performer. Overall, prices slipped 0.2% in March, according to mortgage lender Nationwide. It reckons the slowdown was driven by a fall in demand ahead of the original end of the stamp duty holiday, which would have been yesterday.

Pay rise

The national living wage goes up today, delivering a pay bump to 2 million people, including 23 and 24 year olds for the first time. It has risen 2.2% to £8.91 an hour, a pay rise worth £345 a year for a full-time worker. The voluntary Real Living Wage also rises to £10.85 an hour in London and £9.50 outside the capital, but only a few employers have signed up to pay it.

£5bn restart grants

From today, businesses can get up to £18,000 in restart grants to help them reopen after lockdown. Councils have been urged to get the £5 billion funding into companies’ pockets as soon as possible. Non-essential shops, pubs, restaurants, and gyms will all be eligible for the funding.

1.5% rate renewed

Unity Mutual has fixed its market-leading Lifetime ISA interest rate at 1.5% for another year, guaranteeing the rate until 5th April 2022. Amid a landscape of low cash returns, other providers such as Moneybox have dropped their interest rates. Unity Mutual has been offering 1.5% interest on its LISA since April 2019.