UK HOUSING MARKET GATHERING MOMENTUM 

Estate agents are more optimistic about house sales than at any time since before the pandemic, according to the Royal Institution of Chartered Surveyors (RICS) (Bloomberg).  

This increased optimism comes amid easing mortgage costs and hopes that the Bank of England will cut interest rates. The RICS’ gauge of 12-month sales expectations rose 10 per cent in December to 34, its highest level since February 2020.  

43 PER CENT SAY HOUSEHOLD FINANCES WILL WORSEN

43 per cent of UK adults expect their household finances to get worse this year, according to the debt charity StepChange (Independent).  

Nearly 1,000 people accessed the debt advice on its website on Christmas day, up from nearly 400 the year before.  

A separate survey from Tesco Bank has found that 49 per cent of UK adults have some form of non-mortgage debt, with £4,340 the average owned.   

NEWS IN BRIEF

34 per cent of Facebook Marketplace listings were found to be scams, during an investigation by the TSB fraud team (Sky News).  

The Financial Conduct Authority has said that it will survey the wholesale banking and insurance markets to examine the prevalence of sexual harassment, bullying and other non-financial misconduct (Reuters).  

Prime minister Rishi Sunak has been urged to address the plight of mortgage prisoners (Evening Standard).  

The FTSE 100 fell by as much as two per cent yesterday, with the unexpected rise in inflation reducing hopes of an early cut to interest rates (The Times).