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Five experts make their house price predictions for 2010

Asking prices are falling again, Rightmove, the property website, has warned. It says that panic among vendors to meet a self-imposed Christmas deadline for selling up is driving down prices. 

The news is welcome for the thousands of buyers pushing to meet a much more rigid end of year deadline to buy a property under £175,000 to avoid stamp duty. On Jan 1, 2010 the stamp duty threshold will be lowered back to £125,000.

Seasonal activity and the stamp duty changes may be driving sales, but the housing market remains historically weak, with a number of serious obstacles ahead which could potentially block a full recovery and a further rise in prices.

Here Times Money has asked five experts for their house price predictions for the coming year.

Win £25: Should I be refunded for my faulty television?

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Dave Moran wrote to us: "I purchased a TV from Misco.co.uk for £380 just over two years ago with a two year warrantee. Before the warrantee expired the TV developed a fault and I returned it to the repair centre. They were unable to fix it but they offered me a replacement which I wasn't prepared to accept.

"I then contacted Misco who has agreed to take the replacement set and credit me with £190 - that is 50 per cent of the original value. I don't think this is acceptable, as the manufacturer's terms and conditions state that they will repair, replace or credit a faulty TV. Am I being unreasonable?"

e-Poll: which is the most over-valued asset class?

Speculation has been mounting in recent weeks that the Bank of England’s policy of Quantitative Easing (effectively printing money) has been artificially boosting asset prices. The recovery in the stock market since April; the record price of gold; the gravity defying housing market and growing cost of oil; all anecdotally support this theory.

Others argue that asset prices have simply risen to more reasonable levels since financial Armageddon was averted. We want to know what you think. Which asset class do you think is most over valued? Vote in our e-Poll below and have your say in the field below that.

 

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The 10 richest Tories in the shadow cabinet

There has been mounting speculation in recent months about the personal wealth of the leading figures in the Conservative Party. Interest has heightened after the Tories announced that they would implement an austerity budget, slashing public services, if elected to Government. Research carried out last year by the News of the World recorded 19 millionaires in the Shadow Cabinet, giving some indication of the level of wealth at the top of the Conservative Party. Here Times Money has updated the list. The figures for personal wealth are estimates calculated by the NOTW team in 2008.

Times Money's top 10 Christmas shopping discounts

Two-thirds of us haven't saved enough for the cost of Christmas and almost half of us are worried about paying for it, according to a survey by Moneysupermarket.com. With just 44 shopping days left until the big day, Times Money has scoured the internet for the best discounts to help you save on your Christmas shopping.

Win £25: What can I do with my 'extinct' shares?

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Hady Laba wrote to us: “I recently opened a stock dealing account with HSBC and have done fairly well. However, in June the shares I held in Regents Inns became 'extinct.' I asked HSBC what that meant and never really got a clear explanation – apart from that I can claim the loss on my tax return. Last week the same thing happened again with Bateman Litwin shares that I held and are now extinct. 

"Should I not have been informed by either the two companies, or HSBC, that the shares were about to become worthless? What can I do with these extinct shares now?"

e-Poll: Should the Government raise student tuition fees?

 Students could end up paying more than double the present fees for university courses after the Government launched a review of the funding of higher education. Some vice-chancellors are pressing for fees to rise to £7,000 a year, from the current £3,225. In Scotland, students are not charged any tuition fees. The review, which is being chaired by Lord Browne of Madingley, the former chief executive of BP, is expected to last a year.

Tuition fees are an emotive subject with some people arguing that they deters students from poorer backgrounds while others argue that it is unfair that taxpayers subsidise the education of the next generation of high earners. We want to know what you think? Vote in our e-Poll below and leave your comments in the field below that.

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The 10 best value Christmas markets

 

Christmas shopping can be a real chore. Tramping down the high street on a grey Saturday afternoon and being forced to listen to endless renditions of Jingle Bells is many peoples idea of hell. Rather than enhancing the experience, even the twinkly lights only serve to remind you that you would rather be anywhere else. Bah Humbug!

But combining your Christmas shopping with a short-term break in a beautiful European city may be all you need to restore your festive cheer. Who knows, you might even get to see some real snow rather than the fake stuff that clogs our high streets.

The downside: it can be pricey. However, help is at hand. Virgin Money Travel Insurance has compared the cost of a two-night stay in a four star hotel close to the major markets. It has added in the price of entry to a local attraction, for example, Krakow's Princes Czartoryski Museum, which boasts Leonardo da Vinci's Lady with an Ermine.

Here are the ten that it claims are the cheapest for a short-term break. The cost does not include the price of flights, although many of these cities are serviced by budget airlines.

The 10 worst credit cards, and the 10 best - as voted by customers

 
 

High-street retailers, such as John Lewis, offer much better credit cards than traditional lenders, the latest customer satisfaction survey by consumer organisation Which? has found.

In a survey, 10,207 Which? members rated their credit card providers based on their levels of satisfaction with the ease of making an application, interest rates and discounts on offer, the accuracy of statements they received, how well they are kept informed about better deals and the standard of customer service.

Satisfaction scores were calculated using a combination of overall satisfaction and how likely Which? members are to recommend the card to a friend.

The John Lewis /Waitrose credit card came out on top with a score of 88 per cent, compared to the average score of 68 per cent. Mint was the worst provider, scoring just 46 per cent.

Here are the ten credit card providers that scored the worst, and ten that Which? members rated as above average.

ePoll: Can money buy you happiness?

 

As a society, we seem to spend much of our time obsessing about and trying to accumulate money but we rarely stop to ask ourselves why. Perhaps we should. According to a new study, the richer we get, the quicker money begins to diminish as a source of happiness. The study by the Legatum Institute suggests that an increase from $30,000 to $33,000 in per capita income only leads to a 0.06 point increase in a nation's happiness (using a 1-10 scale).

But can this possibly be true? Doesn’t earning more money make us happier by allowing us to buy more things, go more places, and, in some cases, influence more people? We want to know what you think. Vote in our e-Poll below and leave your comments in the field below that.

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Michael Jackson's 10 most extravagant purchases

On his death in June, it was reported that Michael Jackson was in $400 million of debt. Now, it looks as if the debt will be easily cleared.  By some estimates his estate will make more than £100m this year alone, thanks to a surge in the number of fans buying records and memorabilia, and the release of This Is It, the film about the final days of his life.

But how did Jacko manage to lose so much money in the first place? Times Money reflects on some of his more excessive spending...

Win £25: How can I help my grandmother open a bank account?

 

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Nicola Noller wrote to us. She says: "My 91-year-old grandmother has asked me to open a postal or online savings account for her. However, all the institutions I have approached insist on proof of identity, either with a passport or a driving licence, neither of which she has. Can anyone advise on an alternative form of ID?"

A selection of the best responses will be published in Times Money on Saturday November 14 with the star answer receiving £25 of vouchers. 

The 10 towns with the highest rates of personal bankruptcy

Bankruptcy and recessions go together like fat cats and bankers - but a report out this week reveals that in some parts of the country this is more true than others. 

People in coastal towns are particularly prone to declare themselves bust, according to research from Wilkins Kennedy, the accountant

Overall, the average rate of personal insolvencies in coastal towns was almost one third higher last year than the national average at 20.6 per 10,000 adults, compared with 15.7 across the country and 9.1 in London.

Coastal cities accounted for seven of the ten towns and cities with the highest bankruptcy rates in the UK. To find out which towns they are (that's Eastbourne in the picture, in case you were wondering) and which other towns make the list, read on.

Win £25: How can I keep my deposit safe if I split from my boyfriend?

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Emma Clarke wrote to us. She says: "My boyfriend and I are thinking of buying a house together but the property that we have fallen in love with requires a £10,000 deposit.

"I have savings and can afford to pay for this myself; my boyfriend, however, has nothing. Additionally, my parents have offered to give me £5,000 towards renovations (rewiring, damp-proofing, etc).

"How can I safeguard this £15,000 so that, in the event of my boyfriend and I splitting, I can reclaim this from any equity after sale of the house?"

A selection of the best responses will be published in Times Money on Saturday November 7 with the star answer receiving £25 of vouchers. 

e-Poll: Do you plan to cut back on Christmas spending?

Some readers may be appalled that Money Central has dared to mention the Christmas word so early in the year.

But take a walk down any high street and it is already impossible to avoid grinning Santas and twinkly snowflakes. Even mince pies and Christmas puddings are appearning on the shelves.

Retailers seem to be doing everything they can to remind us that Chrismas is not that far away. There is nothing new in that, you might say - hardly a year goes by without somebody moaning that Christmas is getting earlier.

But, this year, don't retailers seem to be trying even harder to instill the festive spirit of consumption in us all even though the autumn leaves have only just started falling.

The state of the economy explains why. Rising unemployment and fragile consumer confidence has left many retailers fearing that this Christmas could be worse than last year. The City and Downing Street were stunned last week as output data revealed that the economy shrank by 0.4 per cent between July and September — an unprecedented sixth consecutive quarter of decline.  Official figures show that retail spending was flat for the second consecutive month in September.

But are retailers right to be worried? Are you planning to cut back on your Christmas spending? Or do you intend to ignore all the economic gloom and splash out with gusto. Vote in our e-Poll and have your say.

The 10 worst retailers for exploiting foreign workers

 

Britain’s major high street retailers are continuing to exploit workers in the developing world and some of the more upmarket chains are the worst offenders, according to new research.

Labour Behind the Label, a group campaigning against sweatshop conditions, surveyed 25 major retailers and found that not a single one paid a living wage to all workers in their supply chain.

John Lewis, Laura Ashley and Clarks are three of the most heavily criticised companies, while Primark and New Look were given credit for their efforts to improve working conditions.

The group surveyed 25 major high street brands and graded them between zero and five for their commitment to giving their workers a living wage. A “living” wage is the accepted term for pay and conditions above the legal requirement of a basic minimum wage, which enable workers to properly feed, clothe, house and educate their families.

Anti-poverty groups say garment-exporting countries are setting their minimum wage significantly below a living wage, in order to help attract British retailers’ push for cheap fashion.

The report says: “The scandalous truth is that the majority of workers in the global fashion industry rarely earn more than $2 a day in an industry worth more than £36bn a year, in the UK alone.”

e-Poll: Is the FSA right to ban self-certification mortgages?

Honest Job? Self-employed builders could struggle to find a mortgage under FSA proposals

Under proposals outlined today by the Financial Services Authority, lenders will no longer be able to offer self-certification mortgages. Dubbed liar loans, these deals allow the self-employed and borrowers with large deposits to qualify for amortgage without proving their income. Critics of self-certification argue that it encourage reckless borrowing. However, the FSA’s plans are likely to make it harder for the self-employed to obtain finance – particularly if their businesses are relatively new.

We want to know what you think? Is the FSA right to want to ban these deals? Vote in our e-Poll below and have your say in the field below that.

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The 10 car theft hotspots

People who live in parts of northeast London are amongst those most likely to have their car stolen, according to research.

Moneysupermarket.com, the comparison website, analysed 3.8 million motor insurance quotes made by drivers in the past year. It found that riskier spots include Redbridge, Romford and Buckhurst Hill, as well as northern cities and towns such as Manchester, Sheffield and Doncaster.

Here are the ten places where drivers are most likely to claim on their insurance for theft of or from their car.

Postcode district	Town	Area	Percentage of residents claimed on insurance
BR7	Chislehurst	Bromley	3.82%
TS28	Wingate	Cleveland	3.72%
IG4	Redbridge	Ilford	3.39%
DN7	Hatfield	Doncaster	3.34%
BS29	Banwell	Somerset	3.16%
BD1	Bradford City Centre	Bradford	3.16%
S2	Arbourthorne	Sheffield	3.15%
NP24	New Tredegar	Newport	3.14%
RM7	Romford City Centre	Romford	3.10%
IG9	Buckhurst Hill	Ilford	2.99%

Win £25: How can I insure my iPhone?

 

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Markus Johansson wrote to us. He says: "I recently bought an Apple iPhone, but didn't realise until it was too late that you can buy the tailored O2 insurance only up to 28 days after the date you acquire your phone. I now don't have any protection. Is it still worth me shelling out for insurance? I'm worried I won't be able to get suitable cover on a non-O2 policy. Where should I look?"

A selection of the best responses will be published in Times Money on Saturday Oct 31 with the star answer receiving £25 of vouchers. 

The five most bizarre rural insurance claims

You might have thought that living in the countryside was a peaceful existence but you would be wrong.
As the rural insurer NFU Mutual, reports, it can be dangerous out there. With the help of NFU Mutual, Times Money has compiled a selection of the five most bizarre rural insurance claims.

1) Headstrong livestock

A ram took a dislike to a man and head butted him, breaking his false teeth. A new set was quickly dispatched after the individual claimed on his contents insurance.

2) Bovine lucky dip

The owner of a house with a swimming pool thought he would have a nap on a pleasant summer’s day, unaware that a neighbouring herd of cows was preparing to invade his garden. He awoke to find his garden furniture had been trashed and one cow in the pool. He was compensated for the damage.

3) A shattering experience

A farmer's dog chased one of his sheep through a set of patio windows. Sadly, the patio doors were closed at the time and the sheep smashed all the glass. Thankfully the sheep was not hurt. The claim was covered and was settled.

4) Snow joke

A snowdrift against the side of a farmer's house enabled one of his horses, that was grazing in a nearby field, to get on to the roof. Needless to say, the horse made a few holes in the roof. Although the NFU Mutual didn't insure the building it did insure the contents and the claim was paid at a cost of £469 for a new computer damaged by water form the hole on the roof.

5) Meal with extra bite

One NFU Mutual customer wanted to know if he could claim for his false teeth that he had left on the table of his caravan which his sheep dog had then chewed and eaten. This was in August 2008 and unfortunately the customer did not have Personal Belongings so the claim could not be paid.

 

More from Money Central:

Ten tips to avoid a tax investigation

e-Poll: Should there be a brake on bank bonuses?

The 10 best mortgage lenders ... and the five worst

The dog breeds that cost the most in vet bills

The 10 best ways to cut petrol costs

Five reasons why gas prices are set to rise

The top 20 burglary hotspots

Ten tips to cut the cost of your holiday

The top 10 financial freebies

The 10 highest paid politicians in the world

 

Five ways to beat the postal strike

An awkwardly-timed postal strike next week is set to bring chaos to Britain in the run-ups to the tax return deadline and Christmas. However, Consumer Focus and Times Money have put together five simple steps readers can take to minimise the inconvenience.