Investors have been snapping up properties in Pembrokeshire, Wales, on the back of the Dragon LNG developments. Those in the buy-to-let sector have targeted areas such as Pembroke, Pembroke Dock and Milford Haven. As a result, reports in the Western Telegraph newspaper suggest that rental values have risen by 30% over the last year, with the top-end of the market particularly strong due to banks and the health service relocating employees.

Despite reports that some contractors want to house workers as cheaply as possible, there is no doubt that the two LNG terminals at Milford Haven and Waterston, along with the prospect of two new power stations in the county are driving the investment market.

Andrew Parr, of Haverfordwest-based estate agent, Evans Roach and Co said: "Buyers with money to invest are taking advantage and are investing in properties across the board. The quality of properties being bought for investment has increased significantly,'"

The Bank of England kept rates on hold at 4.75% today. It is the fifth month in succession that the Bank's MPC has frozen the cost of borrowing.

The committee chose not to raise the rate, as there are signs that the property market is beginning to cool, while there has been a slowdown in high street spending.

Estate agents and retailers however, were left disappointed, as they had been calling for rates to be cut.

John Butler, economist at HSBC, said: "At the moment there is a lot of uncertainty associated with the state of the housing market and consumer spending in general. Until we get more clarity from the Bank of England it is likely to keep rates on hold."

Five rate rises, since 2003, has added £851.10 a year to the annual cost of repaying a £100,000 typical 25-year interest repayment mortgage.

Portsmouth Faces Regeneration.

Following the success of Gunwharf Quays and improvements to the city centre, property chiefs believe that Old Portsmouth will now become the new economic hotspot for the area. Already an increasing number of bars and clubs in Portsmouth have proved beneficial to the city and its surrounding areas.

With the construction of new housing in the area already under way, a number of property companies now feel that the time is right to invest in previously derelict urban areas.

Michael Green, a partner at commercial property firm King Sturge said: "Other urban centres like Manchester, Newcastle, Glasgow and Nottingham have achieved economic success partly through building up a successful and exciting retail and leisure economy, and the same is happening in Portsmouth."

Gunwharf, which opened last year, has already had £200m invested in to the area, encouraging the development of new shops and flats, which are being built at the waterside.

Ian Bridges, inward investment officer at Portsmouth City Council, said: "Portsmouth is forecast to grow above the UK average over the coming years, so we are looking at a brighter future for the area."

Scottish "right to-buy" to have Restrictions.

The right-to-buy scheme, allowing council tenants to buy their home was introduced by the Thatcher government in the early 80's. But Malcolm Chisholm, the communities Minister in Scotland, may now place greater restrictions on the scheme, in a bid to reduce homelessness.

Speaking to BBC Scotland, Mr Chislolm said: "We are going to do a comprehensive report on the right-to-buy for the Scottish Parliament this year, and that means next year we are going to be reviewing the policy."

However the Conservative Party are not as keen to get rid of the scheme. Speaking in the Scotsman newspaper, a spokesman said: "It is one of the greatest success stories in giving home ownership to hundreds of thousands of people and playing a major part in revitalising communities across Scotland". "This policy helped transform some of the poorest estates around Scotland", he added.

Slight Fall in November.

According to figures published today by the Office of the Deputy Prime Minister (OPDM), the average UK house price in November fell to £180,226 from October's figure of £180,444. However the figures also revealed that house prices were 13.8% higher in November than a year before.

Although the data released by the ODPM is two months old, it is based on actual transaction completions rather than asking prices or mortgage approvals and so is viewed as among the most accurate measures of the market.

Commenting on the report, George Buckley, UK economist at Deutsche Bank told Reuters: "With mortgage approvals slipping and the lenders reporting lower rates of house price inflation than earlier last year, we remain confident that the official measure of house price inflation will fall sharply during 2005."