Month of March, 2008

Hammerson warned of more pressure on UK property prices as the strong performance by its French portfolio helped partially offset a downturn at home.
The UK real estate developersaid yesterday that UK capital values fell sharply in the second half of its financial year to the end of December, in contrast to France, where it has about 30 per cent of its business.
An adjusted net asset value increase of 3 per cent for the 12 months to December 31 masked a 5.5 per cent slump in the second half, following 9 per cent growth in the first six months.

Since the term credit crunch entered the lexicon at some point last year, the mortgage market has become tougher in the UK, with this week's withdrawal of 125 per cent mortgage products being the latest reduction in the availability of products with which to buy property in Britain.

Melbourne , Feb 29 (ANI): Kylie Minogue is selling the French Island retreat where she spent time recovering after her breast cancer scare.

The introduction of the Eurostar has helped provide a boost to the French
property investment market, it has been suggested.

Cherise Williams, a spokesperson for the VEF Group, explained that the Eurostar has helped France seem more accessible for British investors.

She said that the train has "its part to play" in the market, describing how people appreciate how "quick
and easy" it is for investors to get to France for the weekend.

Sterling held at its lowest level in more than 11 years on a trade-weighted basis first thing this morning as expectations for interest rate cuts mount and confidence in the banking sector and wider economy ebbs. Pay settlements held steady in February indicating that building price pressures are not yet feeding through to wages, a survey from the consultancy Industrial Relations Services said on Thursday.

Sterling resumed its slide against the Euro as the market expects the UK economy to continue to under perform in the Eurozone.

The pound slid to an all-time low versus the euro this morning as soft house price and consumer confidence data pointed to an economic slowdown. House prices fell for a fifth straight month in March, bringing the annual increase to its lowest in 12 years and showing a key driver of the economy is faltering. Consumer morale fell to its lowest level in more than 15 years in March as households grew more gloomy about the economic outlook than at any time since the downturn of the early 1990s.

According to experts there are now over a million of them. Don't be suprised to see wild boar on the menu everywhere you go in France this year.  Read the full article

Sterling slipped to a record low against the euro this morning, extending its losing streak after figures showed British house prices fell for the sixth consecutive month in March. Housing market research company Hometrack this morning said UK house prices fell by 0.2% this month to stand just 0.4% higher from a year ago, further denting sentiment on the UK economy. This led investors to drop the pound on the last day of the financial first quarter, adding to falls last week after the B of E emphasised that the British currency may have more room to fall.