House prices, spending, staycations and mortgages

A shift in house price momentum is underway in the UK, as southern cities start to slow down with the north taking their place at the top of the leaderboard. The Telegraph reports that Glasgow has emerged as the city with the fastest growing quarterly house prices, according to Hometrack’s monitor of the biggest 20 cities in the country. Prices there rose 5.2 per cent in the three months to July. Leeds, Manchester, Birmingham and Cardiff all recorded high quarterly increases, benefiting from high yields on rental properties, increased affordability and low mortgage rates. Spending

The under-35s are not a spendthrift generation, but are struggling to save owing to daily financial pressures and low wages, a trade body has said.

Young adults aged 18 to 35 are often described as the Yolo (you only live once) generation. But the Pensions and Lifetime Savings Association said that label was unfair, claiming that as many got satisfaction from saving as did from spending.