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No respite for housebuilders as interest rates are kept on hold
The Bank of England has kept interest rates at 5% despite the sharp downturn in the housing market.
The Bank's Monetary Poicy Committee's decision was widely expected amid concerns over inflation, which rose to 3% in April.
There was more bad news for house prices this morning when Halifax revealed that averges fell by 2.4% in May.
HBF says Bank of England must cut interest rates by 0.5% in response to 'rapidly deteriorating conditions' in housing market
The policy has the potential to unlock land to build hundreds of thousands of new homes
Judicial review to look into government’s attempt to stop councils setting stricter rules for housing than national standards
Firm rejigs costs and commercial division
Restructuring specialist RSM expected to take over running of company set up in 1966
Climate Change Committee warned last month that 75% emissions reduction target was unachievable
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