Rents have reached a new record high once again with monthly bills outside London now averaging at more than £1,200, according to Rightmove. Elsewhere, shares have fallen at a bank, deals to replace Wilko stores have reportedly hit snags and Cadbury has scrapped a chocolate bar.
The UK's construction sector contracted heavily last month as the housebuilding arena saw one of its worst months in more than a decade, a key survey has shown. Projects to build homes were cut back as demand weakened and the cost of borrowing rose last month, companies said.
A score above 50 indicates that output has grown - anything less than that shows it has contracted. 'The impact of high mortgage rates and low house buying demand continues to flow through the supply chain and negatively hit the UK construction industry,' Mr Moore added. 'It has been a tough year for residential construction and the sharp decline in September shows the pressure on the sector is still a long way from easing, despite the pause on the raising of interest rates.
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