House prices in London have increased by 18 per cent in the past 12 months, fueling concern over a possible housing bubble, the Guardian reports.
According to figures from Nationwide Building Society, London house prices increased by 5.3 per cent in the last three months alone and are now 20 per cent above their pre-crisis peak.
With an average price of £362,699, London homes are now twice the average price of those outside the capital.
Robert Gardner, Nationwide’s chief executive, said: “The gap between house prices in London and the rest of the UK is the widest it’s ever been, both in cash and percentage terms.
“Overall, the southern regions have been outperforming for some time, with the result that house prices in London, the outer metropolitan and outer south-east have now surpassed their pre-crisis peaks.”
Insurers offer cash incentives for opting to use NHS
Private medical insurance firms are offering patients up to £2,000 in cash to encourage them to use the NHS rather than a private hospital, the Financial Times reports.
According to the paper, patients are offered incentives to seek treatment for heart, cancer, cardiology, obstetrics, gynaecology and other specialties.
Private hospital operators have condemned the practice, saying it reduces the number of cases they recieve and prevents them from lowering prices.
The hospitals have raised concerns with the Competition Commission, which is due to publish the findings of its long-running investigation into Britain’s private healthcare industry this morning.
Keith Biddleston, group commercial director of private hospital operator HCA, said: “In the past couple of years, the big insurers have been very successful at increasing their profits by managing down claims.
“Insurers are profiting by pushing their burden on to the NHS in its moment of need.”
Second home owners face higher tax on property profits
Owners of a second home could face higher taxes on profits made from selling their property, the Daily Mail reports.
The paper says the Treasury has stepped in to limit the “flipping” of primary residences for tax purposes.
Under proposed rules, the owners’ main residence would be decided by HM Revenue and Customs rather than the owners themselves, who could otherwise select the residence that gave them an exemption from capital gains tax.
Britain faces high pollution from Saharan dust
People in parts of the UK could face “very high” levels of air pollution owing to dust blowing in from the Sahara desert, the Independent reports.
According to the Department for Environment, Food and Rural Affairs, the pollution results from a combination of light south-easterly winds, the continental air flow and dust which has blown up from the Sahara desert.
Pollution reached the highest point of Defra’s 10-point scale in some areas on Tuesday, including Norfolk.
Russia tightens Ukrain gas noose
Russia’s Gazprom has raised the cost of gas deliveries to Ukrain by 44 per cent, the Telegraph reports.
The paper says the move coincides with increasing military tension between Nato and Russia.
The Telegraph reports that Gazprom claims to have raised the price of gas for Ukrain from $268 (£172) to $385 (£231) per 1,000 cubic metres, and that this could soon rise to $480 (£288).
