Housing round up: House prices rose in November as OBR predicts a housing boom

Housing & mortgage round upAnother week sees yet another confusing set of housing data as the Nationwide say house prices rose last month. The Office of Budgetary Responsibility (OBR) has published figures which predict a housing boom over the next few years. However, figures which show mortgages are being repaid at a record rate show that home owners are still nervous about the housing market and economy in general. House prices increased by 0.4% in November...

Government Spending Review unveiled

Chancellor George Osborne has announced the largest spending cuts the UK has seen since World War Two with over £80 billion in cuts, to be phased in over the next four years. The cuts represent an average reduction of 19% in departmental funding. Mr Osborne said: "Today is the day when Britain steps back from the brink, when we confront the bills from a decade of debt. It is a hard road, but it leads to a better future". Leader of the Labour party, Ed Miliband, said the chancellor was taking an "irresponsible gamble" with the economy and "many of the frontline services people rely on".