House prices hit record high

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House prices going up

The housing market seems to be recovering from its coronavirus slump, recording a 2% price jump in August according to Nationwide. The mortgage provider says it’s the biggest monthly rise since 2004. That puts the price of homes at an all-time high, with the average pad now costing £224,123.

Jobs for under 25s

The government is urging businesses to sign up to the Kickstart scheme to create 6-month work placements for under 25s. Participating employers will get £1,500 to help train up new recruits, and the government will pay their wages up to 25 hours per week. Around half a million people are eligible for the work placements, which should be available from November.

HSBC to lend less?

HSBC may be planning to reduce the number of mortgages it gives out to first-time buyers, after the recent surge in demand has caught it unaware. As one of the only lenders offering 90% mortgages, the bank says it's flooded with applications from buyers with small deposits.

High street slashes prices

There are bargains to be had in shops at the moment, as retailers push deals and discounts to bring buyers back to the high streets. Shop prices fell 1.6% in August - even more than in July. Supermarkets are still doing well though, buoyed by families enjoying their summer holidays in the UK.