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Manchester 'worst-performing' on house prices

Houses in Ramsbottom, Greater Manchester Credit: PA Images

Manchester has been named as the "worst-performing" city concerning house prices, with values there showing no average increase in prices over the last year.

House prices around the UK eased back from their previous record levels in December amid signs that the housing market has continued to cool, Nationwide Building Society has reported.

Across the UK, property prices lifted by 7.2% annually in December to reach £188,559 on average, edging slightly lower than an all-time high of £189,388 recorded in November.

But despite the lack of price increase the average house price in Manchester remains higher than the national average at £210,685.

Stores braced for busiest day of the year

More than 200 thousand shoppers are expected today Credit: PA

Shoppers are expected to hit the UK high street in force as retailers hope for their most profitable day ahead of Christmas.

The high street traditionally experiences its busiest day two days before the Christmas shut down.

Bosses at the Manchester Arndale shopping centre said they expected about 220,000 visitors and customers were spending more money this Christmas.

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  1. National

Lloyds and RBS narrowly pass bank stress test

Lloyds Banking Group and Royal Bank of Scotland have narrowly passed a Bank of England test to see how lenders would cope with severe economic stress.

Lloyds Banking Group and Royal Bank of Scotland have narrowly passed a Bank of England stress test . Credit: PA Wire composite

The test, using the position of banks and building societies at the end of 2013, found both RBS and Lloyds would be susceptible to such a crisis.

However, improvements and changes to their plans this year meant only the Co-op was required to submit a new plan.

  1. National

Co-operative Bank fails Bank of England stress test

The Co-operative Bank has been ordered to shore up its balance sheet by axing £5.5 billion in loans after it failed a Bank of England stress test.

The Co-operative Bank has failed a Bank of England stress test. Credit: PA Wire

The Bank found that a severe downturn with house prices plunging 35% would wipe out the Co-op's capital because of the effect on its risky commercial property and sub-prime home loans.

  1. Daniel Hewitt - Political Reporter

Are you convinced by the Chancellor's Northern Powerhouse promise?

Tatton MP and Chancellor George Osborne say he has a grand plan for the North of England - he calls it 'The Northern Powerhouse' - but do voters here plan to keep him in his powerhouse in Westminster come May?

The Conservative Party hopes Mr Obsorne's commitment to invest more in rail, road, arts and science in the North West will be rewarded with more North West MPs at next year's General Election.

But are voters in the key marginals convinced?

Our political reporter Daniel Hewitt has been to Bolton West, the region's most marginal constituency, to gage opinion.

Tune in to Party People tonight on ITV at 23:40 for reaction from MP's Nigel Evans, Julie Hilling and Andrew Stunnel.

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Completion of home sold for just £1

Work has been completed on the first property to be refurbished as part of Liverpool's pioneering Homes for a Pound scheme.

Jayalal Madde with Liverpool Mayor, Joe Anderson Credit: PA

Jayalal Madde, 49, was the very first applicant to be allocated a house last year under the city council's pilot scheme to sell 20 of its properties for just £1. He will be giving Mayor Joe Anderson a guided tour of his house on Cairns Street in Granby ahead of moving into the property in time for Christmas.

Credit: ITV Granada
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