Hotspots for First-time buyers

According to fresh research conducted by the Royal Bank of Scotland, the top five UK property hotspots for first-time buyers is Openshaw, on the outskirts of Manchester, Middlesbrough in Teesside, Ardwick in Manchester, Falkirk in Scotland and Ferndale in Wales.

The group looked at a range of factors which would affect future house price growth, as well as an area's current desirability.

Also making it into the top 10 were Kingston-upon-Hull, Blaenrhondda in South Wales, Stratford in London, north central Stoke-on-Trent and Leven in Scotland.

Profits down for housebuilding firm

Profits at Bovis Homes have fallen by almost a third during the first half of 2005. The company has sold 1089 homes compared to 1302 last year.

"Consumers are displaying more caution, with many delaying the decision to move house," said chief exec Malcolm Harris.

Pre-tax profits for the six months to 30 June were £45.1m, compared with £66.8m last time.