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Mortgages saw a strong reduction of 10% in the past year as buyers are trying to find affordable offerings.

Lenders have kept a tight flange on who they lend to the middle of the rise in unemployment and fears as borrowers default on their payments.

The Bank of England figures showed that only 45,000 mortgage loans have been approved for the purchase of the House by the major banks in the month of November.

Figure increased slightly on the approvals of 44,000 seen in September and October, but he was still a 26 per cent lower last November.

Trends in lending report showed progress for the purchase of the House are mastered to 5.6 billion pounds.

Howard Archer, Chief UK and European Economist at IHS Global Insight, said: "this proof of low - but perhaps stabilization - the housing market activity reinforces our conviction that housing prices will not overwrite but will likely decrease gradually lose approximately 10 per cent from their peak levels at the end of 2011 2010."

"Given that real estate prices already fell by around 3% overall in recent months, we believe that House will fall 7% in 2011."

"Critical to the development of prices for real estate in the coming months will be the amount of houses from the market, availability of mortgage, how much economy and jobs take more and more through tax reduction."

The warning comes after the Council of mortgage lenders said 11.1 billion pounds was lent to the month of November, which is 5% on the previous month

He said that the year in the fall of the year reflects distortions of the market in 2009 due to the imminent end of holidays to stamp of the Government, which resulted in people who are buying properties costing up to ￡ 175,000 rushing to sales before the end of the year.

Bob Pannell, CMA, Chief Economist said: "the drop in mortgage crude in November reflects the seasonal normal slowdown in this time of year and strengthens the image of a continuous flat market."

"Comparisons with the previous year are somewhat deformed, as some house purchase activity within months of 2009 to shutdown postponed household take advantage of the stamp duty concession." But the demand for mortgage borrowing and lending funds offer remain strongly limited.

"CML market forecasts published last week suggest that it is likely to remain at similar levels this year mortgage crude in 2011." We believe crude mortgage for the next year will be total approximately 135 billion pounds. ?

He added that the CMA should mortgage advances total 135 billion pounds in 2011, unchanged from this year.

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Average of the prices applied in December: ￡ 222,410

Increase over year 0.4%

Miles Shipside Rightmove, Director said: "in 2011 we will see greater lower falls due to the oversupply and forced sale markets." Conversely, the pockets of the country where there is traditionally low rest credit crunch resistant and supply demand will see price support and somewhat immunized against falls in other areas. The fact that many potential buyers do not have the capacity to carry out, and some owners may find themselves in a position where they are forced to sell, readers of low prices. These negative factors are likely to outweigh the positive price of pent-up demand for housing and a shortage of quality housing prices sous-épinglage pressures in popular locations. ?

Halifax

Average price in November: ￡ 164,708

The month 0.1 per cent fall

Fall on the quarter 2.1 percent

The 0.7 per cent fall year

Accommodation in Halifax, Economist Martin Ellis said: a greater number of properties for sale, combined with the decline in demand, caused the recent drop in prices. There is, however, some tentative signs that the owners are increasingly reluctant to put their property on the market which, if continued, will help to relieve the pressure on current prices. Interest rates are likely to remain very weak period extended to support the position of affordability improved mortgage for homeowners. Therefore, we expect to see a significant decrease in the price. ?

At the national level

Average price in November: ￡ 163,398

The month fall 0.3 per cent

Increase over year 0.4%

Martin Gahbauer, Nationwide, Chief Economist said: "there is little evidence that suggests that house price declines are likely to accelerate in the coming months." A large part of the weakness of the property since spring values was motivated by a return of vendors on the market, following at exceptionally low levels of property for sale in 2009 and early 2010.

However, there are little to indicate that these vendors must carry out an urgent sale for financial or economic reasons which means that real estate prices downward pressure is modest.

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In its annual economic blue book, the Chinese Academy of social sciences (CASS) stated that a fresh typical Chinese property now 8.8 years pay average.

In addition, CASS said House prices are rising much more wages, putting more property out of reach of the average Chinese.

CASS has estimated that Chinese real estate prices had increased by 15pc this year, although increases in some cities have been much steeper.

In contrast, typical House of the United Kingdom expenses wages to buy according to the National Building Society, five years and average long term of United Kingdom is four years of earnings.

"Price of the room have increased steadily for years," said Zhou Linhua, co-author of the CASS report. "It was inflated expectations of investors of high performance which introduces more money market flood and fuelled bubble."

The Chinese Government has repeatedly tried to cool the real estate market arrow this year, raising requirements for filing, increased costs and mortgage loan margin for secondary residences.

The Bank of China, the Central Bank, said lenders to raise minimum reserves they hold as a proportion of deposits by half a point percentage, in an attempt to contain cool inflationary pressures and loans.

Friday, official statistics have shown that prices in 70 cities had recorded their third place directly sur-mois in November, 0 3pc mounted on the previous month and at an annual rate of 7 7pc.

"House prices are likely to remain high for some time," predicts Matthew Fang, an analyst at Guosen Securities, adding that the demand was strong and that inflation has been increased.

Interest rate real negative helped persuade many Chinese to invest in bricks and mortar rather than leave their money in the Bank, and there is a continuing need for Chinese men have their own assets until they can marry.

Attempting to quantify the size of the bubble property calculated CASS what she thought was award of the "real" House 35 large and medium-September Eleven statistics index using cities, including per capita disposable income, saving deposits, the number of doctors and students of the University, retail sales volumes and levels of investment in local capital.

According to figures, new homes in 35 cities were more than 50pc their fair value. Prices in Fuzhou are too expensive 70pc of Hangzhou are surcingle 66pc. New homes in Shanghai are surcingle 37pc and those in Beijing are almost surcingle 50pc.

However, the CASS report attracted instant criticism. Ren Zhiqiang, President of Beijing Huayuan, one of the largest developers Chinese say that China has a highest rates in the world of private property, with near 80pc, or 500 million Chinese, owner of their homes. "A reasonable conclusion that would be Chinese 85pc cannot afford to buy a second home,"he said.""

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Insurers who saw claims rise substantially after the recent flooding can apply either to increase premiums or to refuse to cover completely, property expert and insurance warned

Speaking at a Summit of the industry, Bill Gloyn, a partner of Jardine Lloyd Thompson and Chairman of the Committee of the British property Federation insurance brokers said delegates: "flood is a catastrophic risk... If coverage is not available - and it is already the case in some parts of the United Kingdom - consequences are almost too scary to contemplate." Widespread violations of the agreement will lead to chaos and a potential collapse of the commercial and residential property - market.

"Without insurance there is no mortgage." Without mortgages, it did y no market real estate.

Extension of an agreement between the insurance industry and Government to ensure the majority of homes at risk of flooding, which ends in 2013, depends on the Government continues its previously proposed flood defence work programme.

The Chancellor of the Exchequer, George Osborne, affected only 500 m ￡ per year through 2011 to 2015 flood defences. It is a reduction of 216 million pounds sterling and significantly lower total recommended Environment Agency of ￡ billion per year by 2035 to maintain the number of homes currently protected.

Anne McIntosh MP, Chairman of the influential environment, food and the Rural Affairs Select Committee says that it is vital to discuss a "issues concerning floods, such as insurance defense and floods, expenditures, in the hope of awareness more flooding owners, owners and tenants both and possible getting questions relating to increasing resilience and lowering property insurance in the form of a green Deal on the political agenda.

The British property Federation argued for continued investment in flood defences to meet future risks and also for insurers to take more into account measures taken by the owners and households that reduce the threat of flooding their property.

Liz Peace, Executive Director of the FPB, stated: "the devastation caused by the floods in 2007 and even in Cornwall as a matter of weeks, are still fresh in the memory." -Commercial and household - owners should be aware of the risks and to investigate the measures that they can take to protect their assets. ?

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The number of people looking to buy a house fell for the fifth month in a row in October as the housing market activity has continued to slow.?Photo: PETER MACDIARMID

The price index at the Royal Institution of Chartered Surveyors House showed a balance of Surveyors saying 49pc prices fell, compared to 36pc in the months preceding and the highest level since April 2009.

The number of people looking to buy a house fell for the fifth month in a row in October as the housing market activity has continued to slow.

There is also a decrease in the number of vendors coming on the market for the first time since January, when extreme weather conditions winter, causing people to put their plans hold.

"With the supply and demand decrease, transaction activity is defined on remain relatively flat levels in the foreseeable future,", said spokesman RICS Jeremy Leaf.

RICS said those who want to press ahead with a transaction not continue fighting trigger the mortgage they need.

British House prices dropped from 20pc between late 2007 and early 2009, to recover approximately half of their losses in the following 12 months.

Since earlier this summer has been renewed weakness, with mortgage approvals and confidence of consumers both in decline in advance of government spending painful cuts which will seriously begin next year.

A balance between the surveyors 4pc said they saw a reduction of new instructions to the month, compared with 22pc reported an increase in September.

Brain Jackson, Ellis & sounds, Southport, Merseyside, said: "a doom feeling prevail on the market [during this] was once a charge period.?

Jonathan Clayton, Bentley Higgs & co, Blackpool, Lancashire, said: "this is probably the most quiet market, we have seen in the past 20 ans.Les perspectives are dark, and there is a lack of confidence in the .the housing market ' lack of mortgages available is a major factor contributing.?

Entry fall in their homes on the market should support some prices for the future and prevent a steep slide in property values.

Despite this, surveyors remain pessimistic about the prospect for the price of real estate, with a balance of 42pc await further falls.

Surveyors in all areas of the United Kingdom reported house price falls in October, with Scotland see them for the first time in 15 months.

Surveyors reporting price falls balance is higher in the East Midlands to 64pc, while the Northwest saw the greatest increase in surveyors, registering a decrease in price.

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"Heaven forfend that we create a Fox News here at United Kingdom," said Smith, Lord of Finsbury. "We must ensure the plurality of media and therefore media voice property"

Lord Puttnam and Lord Birt referred to BSkyB obscures the BBC United Kingdom .Lord said Puttnam turnover of the BSkyB is the time to 163pc BBC and this could increase to 220pc by 2016.

"Nowhere it the same degree of cross ownership of media given that United Kingdom," said lord Puttnam, describing other UK active News Corp., including leading journals such as The Times and The Sun "this is nothing less than the sovereignty of the 21st century."

Lord Borrie wondered why a debate was then more accepted that News Corp. should not be allowed to buy all BSkyB.Il said that seeing the subject of the Lords debate as used to provide advice to the OFCOM ahead of its media come plurality investigation.

Lord Borrie said he does not accept the argument that News Corp currently owns 39pc BSkyB and James Murdoch is its Chairman, have that extra 61pc will make little difference.

"Legally there [is there a difference] as you move from a position of influence sensitive to actual control", he said.

Lord Myners said it, it is difficult to see the benefits of News Corp taking full ownership of BSkyB, saying: "it will lead to an elimination choice made Beaver."

"The consequences of OFCOM, the wrong decision could be deeply harmful", said Lord Myners, a former President of the Guardian Media Group.

"My Lords, I feel this story still has a long way to run,", concluded the Lord Razzall.

Conglomerate media, which already has four national newspapers in United Kingdom, including The Times and the Sun and is the largest broadcaster by turnover, wants to buy 61pc satellite television chain that does not have.

Mr. Cable, which made the order under the Enterprise Act has said in a statement: "on the basis of information and the sub-missions I had, I decided it appropriate to issue a notice of intervention in this case,"

"Independent experts to OFCOM will now be investigate and report me on plurality of the media which may arise from this acquisition project issues."

News Corp today all concerns, issued a brief statement saying "trust" the proposed acquisition would have no impact on media pluralism.

OFCOM has until 31 December to submit its report on the question of whether the News Corp should be allowed to take control of television via satellite.

Mr. Cable will decide then refer the matter to the Competition Commission.

The question of a plurality of the media in the light of the proposal by News Corp get more attention to the Parliament today one debate in the House of lords to the plurality of the media directed by lord Puttnam unfolds with a long list of prestigious peer who fréquentent.Plus 20 peer are planned, including Lord Myners, Lord Birt and Lord Razzall.

There was growing opposition to submission of Deputies, but in recent weeks, the Cabinet was split on his views on News Corp bid.

Some, including Mr. Cable thought from the beginning that there are grounds for a test of public interest, while others questioned if there is a significant difference if News Corp full property - he has already 39pc BSkyB and James Murdoch, who directs the operations of European and Asian News Corp, is currently Chairman of BSkyB.

Mr. Cable track owners of media across News Corp position on the British market concerns, take total control of BSkyB.

Groups of media, including the BBC, Channel 4 and the owners of the Daily Telegraph and Daily Mail, has written to Mr Cable last month urging to return the submission to OFCOM.

Mr. Cable said that intervention was made on the basis of the presentations and information the Secretary of State has received regarding the proposals.

It follows formal notification of News Corp in Brussels yesterday its intention to take complete control of BSkyB.La European Commission will make a decision for reasons of competition by December 8.

News Corp is a 700 p-a-share offer of BSkyB who evaluated the company approximately ￡ billion - a character described as undervaluing significantly the assets by the Board of BSkyB.

Nicholas Ferguson, Deputy Chairman of BSkyB, stated that no figure below 800 p is acceptable.Il has the full agreement of the Council in this approach, including Allan Leighton, former President of the Royal Mail and Executive Director of ASDA.

Some institutional shareholders have stated that they would like to see a considerably higher than 800 p offers.

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A survey conducted by Hometrack, the data property, said company fell by home prices for the fourth month in a row in October buyers continued to stay away from the market.

The company seeks real estate agents and surveyors to give feasible sale prices for different types of houses in every zip code in England and Wales, said falls were registered in 56pc district postal code 0 1pc while just areas saw an increase.

The number of new buyers registering of estate agents has dropped 2pc in October, the fourth month in a row where the demand has decreased, but the number of people putting their homes for sale has continued to rise, increasing 1. 9pc.

Richard Donnell, Director of research at Hometrack, said: "the mismatch between faltering demand and increasing supply set looks to continue, while the process of re-pricing is likely to be sucked into the first half of 2011.

Vendors are unrealistic price they are willing to accept an impasse begins to emerge between buyers waiting for prices to drop.

The imbalance between supply and demand gave buyers top negotiating prices with vendors reach an average of 92 7pc just of their asking price, the lowest level for more than a year.

The duration property is on the market before it sells also continued to increase, amounting to 9.6 weeks - the highest level since May 2009.

Values for property in England and Wales fell by 0 9pc during the month, the biggest fall since January 2009 to leave the average home costs ￡ 156,200.

Homes for sale offer increased now by 14pc in the past six months, but demand decreased 8pc during the same period.

Mr. Donnell said: "other price falls are inevitable in the run up to Christmas and are likely to continue in the first half of the 2011."

Although he expects a "modest adjustment" prices, rather than to double tomb figure seen in 2008.

Today figures are the latest in a series of dark data on the market of housing, both Nationwide and the land registry, the week falls in price with Nationwide last statement saying values dropped by 0 7pc in October, then the registration office reported a 0 2pc slide for England and Wales country in September.

The Bank of England also stated that approvals of mortgage loan for the purchase of the House had fallen for the fifth consecutive month in September, as activity on the housing market has remained subdued.

House prices fell 1pc West Midlands, East Anglia, Northwest, Northeast and Southeast in October.

The Northwest saw the greater measure of price falls with property values dropping 71pc district postal code while they fell into the 66pc areas in the West Midlands.

Sellers are having the most severely changing time properties in the East Midlands and Wales where the houses are in the market for an average of more than three months before they buy.

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Former chiefs of HBOS and Royal Bank of Scotland was grilled by a Committee of MPs in February 2009. Photo: REUTERS

The four men - the leaders of Deloitte, PricewaterhouseCoopers, Ernst & Young and KPMG – will be called into question by a raft of politicians including Lord Lawson, former Chancellor;Baroness Kingsmill, the former; regulator of competition and Lord Levene, Chairman of Lloyd insurance market.

Sunday Telegraph has learned that every man - John Connolly of Deloitte, KPMG's John Griffith-Jones, Ian Powell of PwC and Ernst & Young Scott Halliday - received a call from the Secretariat of the Commission in recent weeks, if questioning about possible availability, to hold a hearing or at the end of November to the beginning of the new year.

A close source the Commission confirmed that it is very likely that the hearing will take place, but said that a final decision has not yet been prise.La large-scale session may be recalled that the former heads of major British banks by the House of Commons of the Treasury Board in February 2009, in which they apologized for the inadequacy of their banks selection Committee.

Launch of the investigation, President of the Commission Lord MacGregor linked survey the role of the auditors of the financial crisis: "auditing is a highly publicized after financial crises and we will seek to establish if the dominance of the market by a small number of Auditors has contributed to a failure to pick up in unsustainable risks taken by international banks".

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House of Fraser: asked Lloyds to consider swapping a loan of almost ?65m Fund property own photos: JUSTIN THOMAS

Private House of Fraser (HoF), supported by a group led by Sir Tom Hunter and collapsed retailer Icelandic Baugur in 2006, has asked Lloyds to consider swapping a loan of almost 65 m property ￡ equity.

If the British Bank, which is owned by the UK taxpayer 41pc accepts, it will eventually have a participation was significantly increased in the chain of stores.

It remains uncertain whether Lloyd's, who has inherited the initial stake through its acquisition of HBOS, at the height of the financial crisis - agree to the agreement, even if close source of he said "it's an inch.
of course completion.

Lloyd's already has a 5 5pc HoF.Autres game major shareholders include Landsbanki, the Icelandic Bank, which owns 33pc inherited from Baugur.

HoF has succeeded in reducing the debt of its company property by ￡ 10.property company had debts of ￡ 64 6 m in the year by the winding-up of a property distinct joint venture with Earth Britannique.Mais at the end of January.7 m, Board of the HoF want to throw in order to increase performance.

A spokesman for HoF has refused to comment.

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