A study from the property website revealed that more than a third (36.7%) of UK homes currently on the market have been reduced in price at least once since being put up for sale. The average discount across the country has risen to £19,580, or 7.5% of original asking price. This time last year, the average discount stood at £18,475.

Proving that at present it really is a buyer’s market, Zoopla estimates that the total amount reduced from the asking prices of all properties currently for sale across the country now stands at £2.5 billion. Although there is a shortage of homes coming onto the market at the moment, potential buyers are still finding it difficult to secure the funding they need to buy a home, which is making it harder for sellers to shift their properties.

Regionally, sellers in Glasgow have had to cut their asking prices most radically. Homes for sale in Scotland’s third most populous city have been slashed by an average of 9.16% of their original asking prices, or £12,566. Sellers in London have typically cut £41,791 from the sale price of their homes, the equivalent of a 6.42% reduction.

Other regions of the country to see big percentage falls in asking prices include Scunthorpe and Blackpool, where asking prices dropped by an average of 9.1% and 9% respectively.

Although sellers in all areas of the country were forced to reduce the price of their properties, according to Zoopla’s data, some fared better than others. The smallest asking price reductions were recorded in Chelmsford (5.93%), York (6.01%), and Swindon (6.20%). The Top ten areas with the biggest asking price reductions were all in the north of England or Scotland. The majority of the top ten areas with the smallest asking price reductions were in the south.

Nicholas Leeming, business development director of Zoopla.co.uk, said: “The current average discount of £19,580 is a new high indicating that sellers have come to terms with the market realities.”

“Pricing correctly remains key when selling a home and whilst there is a shortage of sale stock currently, buyers are more discerning and more informed than ever before. Serious sellers must do their homework and follow the advice of their agent before settling on an asking price – otherwise they may well find their property on the market for longer than they’d hoped.”

Although the typical British family managed to reduce their unsecured debts by some £355 in 2011 – making the last 12 months the third consecutive year that net unsecured household borrowing has gone down – UK households remain among the most indebted in the world.

The PwC report said that while the average family is likely to continue to pay down their debts to the tune of around £400 this year, there are concerns that some age groups may have trouble maintaining a reduction in their borrowing. A quarter of the 25-34 year-old age group admitted to needing to use credit to fund essential purchases in the last year.

There are also concerns that a fall in real wages will limit people’s ability to pay off the money they owe. A separate report has forecast that businesses are planning pay rises averaging just 1.1% this year.

If consumers continue to pay down their outstanding unsecured debt at this rate, it will take them nearly twenty years to clear their balances.

Total household borrowing remained relatively stable last year at £1.45 trillion. However, outstanding unsecured credit declined, down £9.2 billion on 2010 to £206.6 billion. PwC said this trend is likely to continue with outstanding unsecured balances being reduced under the £200 billion mark by 2013.

Simon Westcott, director in PwC’s financial services practice commented: “UK consumers are among the most indebted in the world, with the average UK household still saddled with nearly £8,000 of unsecured debt. Although the UK government’s austerity drive appears to be hitting home, with households paying off an average of £355 worth of their debt in 2011, three years of austerity by UK consumers has only made a small dent in the total levels of borrowing.”

“In addition to this, our credit confidence survey has shown that there is a growing reluctance to borrow in the future and a marked deterioration in confidence about meeting repayments, particularly among 18 to 24 year olds consumers where less than half of those surveyed believing they will be able to repay their debts”.

Borrowing on credit cards declined by 5% in 2011, as consumers appeared to turn away from this form of unsecured borrowing in favour of other payments methods. Although the average credit card balance stood at £1,000 last year, increasing numbers of people were using other ways to pay for goods and services. The use of debit cards increased by 10% in 2011, and is now more widespread than cash payments for the first time ever.

Mr Westcott commented: “Forty-five years since it was first introduced, the credit card is suffering a midlife crisis. Consumers discarded nearly one million cards in 2011, taking the number of credit cards in circulation down to levels not seen for almost a decade.”

“The longer term trend suggests that numbers will continue to decline, with the younger generation showing a preference for debit cards and emerging digital alternatives such as mobile payments. This generation seems unlikely to switch to increased credit card usage in later life, as perhaps they would have done in the past, suggesting that debit cards, mobile payments and other innovations will force the credit card into an ever decreasing market.”

Despite the modest monthly increase, the price of the average property in the UK was down by 1.8% year-on-year to £160,907. The quarterly measure, which is preferred by some economists as a more accurate indicator of market direction, showed a 0.9% fall in prices.

The increase in prices is only the second time the value of the average UK property has risen in the last six months. Prices rose by a more impressive 1.2% in October 2011. January’s rise leaves house prices broadly similar to where they stood in the middle of last year.

Halifax said record low interest rates had helped to support prices despite worries about the eurozone crisis, rising unemployment and falling real incomes. The bank said house prices should remain stable if the country can avoid slipping back into recession. Data released by the Office for National Statistics (ONS) at the end of last month showed the UK economy shrunk by 0.2% in the final quarter of 2011. Another three months of negative growth would see the country officially dip back into recession.

Low interest rates have helped push the typical mortgage payment for both first-time buyers and movers to 27% of disposable income, considerably below the average of 37% recorded over the past 27 years.

Martin Ellis, Housing Economist, said: “House prices in the three months to January were 0.9% lower than in the previous three months. Despite the slight downward movement in the underlying trend, prices increased by 0.6% in January.

“Notwithstanding monthly fluctuations, the average UK house price is very close to where it was eight months ago, at around £161,000. The continuing very low level of interest rates has helped to support housing demand, resulting in little overall movement in house prices since last spring. Low rates have contributed to mortgage payments falling to their lowest level as a proportion of disposable earnings for a new borrower for 14 years. A recent improvement in employment trends may also have supported demand.”

The rise in the lender’s snapshot of the property market contradicts data released earlier in the month by Nationwide which showed house prices dropped by 0.2% in January after a similar fall in December. The latest Land Registry figures showed that prices fell by 1.3% across the country last year.

Tracy Kellett, managing director of BDI Home Finders, said the quarterly change paints a more accurate picture of where the market is heading: “House prices are being held artificially high by two key factors — an extreme lack of stock and historically low interest rates. Throughout 2012, we’re likely to see a further widening of the North/South divide. Prices will be hit hardest where the economy is feeling it the hardest.

“The denouement of the debt crisis in the eurozone will naturally impact house prices here in the UK. With house prices, confidence is everything. Buyers remain deeply cautious, while sellers won’t sell unless they really have to. Recreational home-moving is almost a thing of the past.”

“What will happen to prices when rates go up? They could fall sharper and faster than many people think. Bizarre as it may seem, now may be a better time to sell than in two years’ time when rates are cycling up.”

‘Unfortunately, there’s an entrenched belief among homeowners that if they stick in there for a year or two, house prices will rise. In the short to medium term, I can’t see that happening. All bar the very best properties will be worth less in 2014 than they are now.”

Instances of crooked bank staff stealing money through theft or deception rose by more than 40% last year, according to CIFAS.

The anti-fraud organisation said that dishonest actions by finance workers were the main driver of a 14.5% overall increase in the number of insider frauds recorded in 2011 when compared to the previous year.

Worryingly, one of the more popular methods of stealing was found to be cashiers creaming money off of customer accounts. Many of the frauds recorded involved the theft of money from older people. CIFAS said the perpetrators of such thefts are no better than muggers in the street.

A third of all theft committed by bank employees involved the stealing of cash as opposed to electronically-based crime. The overall number of dishonest actions by staff to obtain a benefit through theft or deception rose from 156 in 2010 cases to 220 last year – an increase of 41%.

CIFAS said that many organisations remained reluctant to recognise the risk of fraud being committed by its staff.

Instances of bank staff unlawfully obtaining and disclosing personal data fell by 25% last year, after a dramatic rise in data theft the previous year. CIFAS said the fall demonstrated an increasing awareness of the danger posed by data theft in the banking industry, and was evidence that steps were being taken within organisations to counter the threat.

Richard Hurley , CIFAS communications manager, , said: “The damage done by fraudsters who sit within an organisation is not just upon a balance sheet but also on staff and customer morale, reputation and can even result in regulatory and legal sanctions.”

“While the 14.5% increase witnessed in 2011 demonstrates that some organisations are increasingly aware of, and looking out for, fraud committed by insiders, the surge must also underline how prevalent the danger actually is. To assume that staff committing fraud will not affect your organisation is pure folly.”

Michelle Mitchell, charity director general of Age UK said: “Any case of bank staff stealing from customers is unacceptable and this increase is very concerning – particularly at a time when banks are talking about regaining the public’s trust and confidence.”

“Common sense measures such as asking for and then keeping a receipt for any deposit or withdrawal, can help in preventing fraud. However it’s important that people remember that banks are still the safest place to keep their money. “

The Office of Fair Trading (OFT) has announced an investigation into unfair gym contract terms that could be in breach of consumer protection regulations. The OFT probe will also look into whether some gym owners are engaging in unfair business practices.

Although the trade watchdog would not say which companies were involved in the investigation, national chains such as Virgin Active and LA Fitness are thought to be included. A spokesperson for Virgin Active said the firm had already received a request for information earlier in the week.

The investigation was launched after the OFT received a number of complaints from consumers about the length of some gym membership contracts and unfair cancellation polices. Some gym membership plans can see consumers locked into contracts for up to 24 months. Most have no option but to carry on paying regardless of whether they use a gym’s facilities or not.

Concerns were also raised about people being unable to extricate themselves from gym contracts when their circumstances change. LA Fitness received a barrage of criticism from Twitter users last week after it tried to force a pregnant woman and her jobless husband to pay £780 to clear 15 months of a contract debt, despite them being in danger of losing their home.

A spokesperson for the OFT said: “This investigation is at an early stage and it should not be assumed that the parties involved have breached any consumer protection legislation.

“The OFT will not reach a view on whether the law may have been infringed by any company until it has completed its investigation.”

The launch of the probe follows a high court ruling last August that contacts written by Ashbourne Management Services Limited (AMS), a gym management firm, were unfair and that a number of debt collection practices amounted to unfair commercial practices. The OFT said it expected any company employing similar contract terms and practices to change them in line with the ruling.

At the time of the ruling, Cavendish Elithorn, senior director of the OFT Goods and Consumer Group, said: “Gym companies should also be aware that trying to enforce illegal contract terms is a breach of the law and in certain circumstances they may have a duty to notify customers where their contract terms have been found to be illegal.

“This case sends a clear signal to traders that the OFT and local trading standards services will not hesitate to take action to protect consumers.”

In defence of the industry, David Stalker, CEO of the Fitness Industry Association (FIA), said: “At the FIA we strongly believe in following the rulings drawn up by the OFT and are happy to play an advisory role in this investigation process. They (the OFT) have made it clear that it should not be assumed that the parties involved have breached any consumer protection legislation and we must await its findings to draw any conclusions.

“The FIA’s vision, to get more people, more active, more often, is shared by our members who offer a wide variety of membership options to suit individual budgets and training needs; placing consumers at the heart of their offering and motivating people to lead an active lifestyle.”

Average house prices fell by 0.2% last month after an identical drop was recorded in December. The fall leaves the average UK house valued at £162,228. Year-on-year, property prices were up a very modest 0.6% in January.

On a quarterly basis, a measure many analyst consider to be a more accurate barometer of market direction, prices were up by 0.3% last month.

Nationwide said it expected prices to “move sideways or only modestly lower in the months ahead”. It cited concerns about the labour market and the general state of the economy as two factors that are likely to hold prices back over the next 12 months. It also said that affordability and access to mortgage funding is still a major problem for first-time buyers.

Despite the fact that mortgages are cheaper now than they have been for almost 10 years, potential borrowers need to raise a substantial deposit before they can secure the loan they need to buy a home. The average median deposit required by a first-time rocketed from 10% before the beginning of the credit crunch to 25% afterwards. Although the average deposit required has fallen back to around 20%, this still means a first-time buyer would need to raise more than £30,000 to buy a typical British home.

Finding a deposit is unlikely to become any easier in the year ahead if household budgets come under increasing pressure and unemployment continues to rise.

Robert Gardner, Nationwide’s chief economist, said: “Given the challenging conditions prevailing in late 2011, with the UK economy contracting in the final three months of the year, it’s not surprising that house price growth softened at the start of 2012. The price of a typical house fell by 0.2% in January, taking the annual rate of house inflation down to 0.6% from 1% in December.

“The demand/supply balance may move further in favour of buyers in the months ahead. The economy is not expected to gather much momentum until the second half of 2012 at the earliest, which suggests that labour market conditions and buyer sentiment may be slow to improve.”

A separate report from the Land Registry showed that prices actually dropped by 1.3% in 2011. Prices fell in every region except for London where the average property rose in value by 2.8% to £345,000. Prices in the north-east plummeted by 7.1% to £99,464, the lowest level in eight years, making it the only region in the UK where average prices are now below the £100,000 mark. In contrast, the average price of a property in Kensington and Chelsea rose by 7.2% to £967,951 last year.

The above inflation increase will bring the typical water bill to £376 per household, up by an average of £20. The 0.5% above inflation increase was considerably below the 10% rise in prices the water companies were pushing for, according to the regulator. The hike is part of a five-year program of annual prise rises to help fund £22 billion worth of investment in the country’s water and sewerage infrastructure.

Ofwat said the price was made up of November’s Retail Prices Index (RPI) measure of inflation of 5.2% plus 0.5%.

Stark variations were notable in different regions around the country, with homeowners in the Southern district seeing their water and sewerage costs rising by 8%, while those served by Dwr Cymru will have an extra 3.8% added to their bill. The increases will take the annual cost of water and sewerage in the South West area to £543 a year – the highest in the country. Households in the Severn Trent region will only have to pay £325 on an annual basis when the price rises take effect, while London residents served by Thames Water will pay £339.

Regina Finn, Ofwat Chief Executive Officer said: “When we set limits on prices, we listened to customers. They told us they wanted bills kept down, while maintaining safe, reliable water supplies. We challenged companies hard to deliver this. Our decision meant that, before inflation, average bills would remain broadly stable between 2010 -15.”

“We understand that any bill rise is unwelcome, particularly in tough economic times. Inflation feeds through into water bills, and this is driving these rises.”

“We will make sure customers get value for money. Companies are investing £22 billion by 2015 – more than £935 for every property in England and Wales. This will deliver benefits to us all – from continuing to improve reliability of supplies to cleaner rivers and beaches.”

“If companies don’t deliver on their investment promises, we will take action.”

Dame Yve Buckland, Chair of the Consumer Council for Water, said the price rises could push more households into water debt: “Companies need to tell their customers very clearly what they are getting for their money and to help customers who are having difficulty paying their bill.”

“We will be working with companies and the regulator throughout the next price review to ensure that future water prices are acceptable and affordable. We will also applaud those companies who are currently exploring different ways of mitigating the impact of inflation on their customers.”

“Anyone struggling to pay their water bill should contact their company immediately. They can usually offer more flexible payment options, such as weekly or monthly payment plans. In some cases they may also be able to help through special assistance funds, or schemes to help eligible customers reduce their water bills.”

The insurer’s annual Cost a Child report found cash-strapped British parents now have to fork out £10,382 a year, £865 a month or £28.44 a day on each of their children. The study also found that 76% of parents said they had been forced to make cutbacks to their budgets due to financial pressures over the past 12 months.

Although the rise in the cost or raising a child is considerably above the increase in average incomes over the last 12 months, it is below the Consumer Prices Index (CPI) of inflation, which fell last month to 4.2%. This year’s total is up from the £211,113 annual cost of child-rearing recorded in last year’s study.

The overall cost of bringing up a child has risen by 55% from £140,000 in 2003 when the insurance firm first published the report.

Education is the biggest drain on parents’ back accounts before their offspring reach 21. The amount mothers and fathers spend on putting a child through school, college and university rose by 5.1% to £71,780 this year. This figure is expected to rise sharply over the next 12 months after university tuition fees rise to up to £9,000 a year. The overall cost of educating a child has risen by 120% since 2003.

Childcare and babysitting accounted for the second largest proportion of spending, up 2.7% to £62,099, while feeding the average child to the age of 21 will now cost parents £18,667, up 4% from last year.

Clothing and holidays cost mums and dads £10,781 and £15,532 respectively. Over the course of his or her first 21 years, the average child can expect to receive more than £4,000 in pocket money, a rise of 23% since LV=’s first study.

The report found that 43% of parents have reduced the amount they regularly save in an effort make up for falling incomes and that only a third have life insurance in place.

The overall cost of raising a child breaks down as follows:

• 1st year – £10,261 – up 2.8%
• Years 1 to 4 – £56,562 (£14,140 a year) – up 2.5%
• Years 5 to 10 – £46,073 (£7,679 a year) – up 3.1%
• Years 11 to 17 – £52,753 (£7,536 a year) – up 2.7%
• Years 18 to 21 – £52,376 (£17,459 a year) – up 5%

Mark Jones, LV= head of protection, said: “Despite an uncertain UK economy forcing more pressure on the family budget, it’s clear that parents don’t begrudge the money they spend on their children, and would rather do without themselves than radically cut back on what they can provide for their children. From studying parent’s spending habits we’ve seen the cost of raising a child steadily increase since our first report in 2003, and this trend shows no sign of stopping.”

The tax consultant’s report on the state of consumers’ personal finances showed rising unemployment, soaring inflation and falling wages help to erode the amount of money coming into the average home.

Deloitte found that 7% of households experienced someone becoming unemployed during the previous quarter, while 53% of respondents to the study said they feel pessimistic about their disposable income.

Forty-four percent of respondents said they spent more on food in the last three months than in the previous quarter. Half said they were paying more for their gas and electricity, while 37% said they were spending more on transport.

The Consumer Prices Index (CPI) measure of inflation fell slightly to 4.8% in November from 5% the previous month, but is still well above the Bank of England’s target of 2% and considerably more than average wage settlements in both the public and private sectors.

Ian Stewart, chief economist at Deloitte, said: “A fierce squeeze on disposable income and high levels of macroeconomic volatility pushed the consumer sector back into recession in 2011. The UK has generated far higher levels of inflation over the last year than any other industrialised nation and this has hit consumer spending power.

“Inflation should fall sharply in 2012, bringing some relief to hard pressed consumers. But with unemployment heading up, credit in short supply and the economy in a fragile state we would expect household spending to increase only modestly in 2012.”

Some 28% of those questioned said they felt negative about their levels of personal debt and 23% were concerned about job security.

Consumers are cutting back on spending in all areas of discretionary categories. More than 40% are spending less on entertainment, while 36% are spending less on clothing and footwear, 28% on furniture and homeware, and 28% are cutting back on holidays.

Nigel Wixcey, UK head of consumer business at Deloitte, said: “Discretionary spending has been hit hard in the past three months. Consumers are adapting their behaviour to the current economic environment by trading down, staying in and postponing the purchase of big-ticket items.

“However, whilst this is negative overall, it still presents opportunities to certain companies such as those providing subscription television, DVD rentals or takeaway food. Consumers are telling us they are deliberately making fewer impulse or spontaneous purchases. People are being forced to prioritise their spending habits.”

The charity’s Cut-Price Christmas report found that £182 is the lowest amount a family with two children should spend to have an expectable Christmas. This is less than a third of what the average UK family will shell out over the holiday season.

The majority of the 22 low-income families Family Action spoke to while compiling the report said they would spend between £100 and £200, with some paying less than £100.

A typical family with two children will spend between £530 and £682 on gifts, decorations, food and drink this year, according to the report.

The study also found that poor parents pay a “Christmas poverty premium” by funding their purchases with expensive vouchers and Christmas clubs due to the fact they cannot access mainstream credit.

Family Action chief executive Helen Dent said: “We work with amazing parents who are doing the best for their kids and being resourceful in really difficult circumstances; and the Cut-Price Christmas is a minimum standard that low income families themselves think is acceptable for a happy Christmas for their children. But even this Cut-Price Christmas could cost low income families two and a half weeks income after paying for the necessities, and this is only if no emergencies or crises like broken boilers add extra costs.

“With families facing near unprecedented squeeze on their finances – particularly low income groups – this minimum standard will sadly still be too much for some families. Families are facing cuts to welfare support, rising food and fuel inflation and this is before the majority of the worst cuts to support have come in.

One parent said: “I don’t enjoy Christmas at all, not one bit…It’s just another day to spend money. That’s how I’ve always seen Christmas. [Spend] money that you don’t have. Because you don’t want it to be like when you was at school and you’re going to school lying and telling them [friends] that you’ve had loads of stuff, when you’ve had nothing.”

Another told the charity: “I’ve already told the kids Christmas may have to be cancelled this year to make way for the fuel bills coming in January.”

A survey by the financial services firm found 27% of middle-aged people said finances were the most common cause of arguments in their household, despite the fact that one in five admitted they felt uncomfortable discussing money with their partners.

More than half of those questioned had no idea what income they will need in retirement, which raises concerns that British couples are sleepwalking into retirement without properly discussing their financial arrangements, according to the Prudential.

The most common cause of arguments was found to be family and relationships – which 28% of respondents admitted to rowing about – followed by money. Household chores (29%) and socialising (9%) came third and fourth respectively.

Twenty-five percent of the 2,000 respondents to the survey said they had not discussed their financial situation with their partner in the past 12 months, while 16% admitted to never talking about how to improve their income.

When couples were asked if they knew what level of income they would need to lead a comfortable retirement, more than half (56%) admitted to having no idea.

Vince Smith-Hughes, head of business development at Prudential, said: “There is no hiding from the fact that sometimes our finances are a tough topic to talk about. It is all too tempting to put off conversations about the money we’ll need in the future.

“There can be tangible financial benefits, however, for couples who bite the bullet and have a frank and open conversation about their plans for the future. Agreeing on a joint approach to pension provision could boost their overall incomes when the time comes to retire. There are also potential savings to be made from using personal tax allowances after retirement – a retired couple have a joint allowance of almost £20,000 of tax free income available to them.

“A conversation with a professional financial adviser should help couples to make better decisions about pension savings during their working lives, ensuring that their income continues to support their lifestyle in retirement and that they benefit from all available allowances.”

This figure only covers essentials like rent or mortgage payments, fuel bills, clothing and food. It does not include spending on any leisure activities. The amount of money needed to survive is likely to rise further still as wage settlements continue to fall far short of inflation.

A basic rate taxpayer would need a wage of £32,702 to be left with the £24,600 needed to break even after paying tax. The average gross salary for a full-time worker is currently £26,200.

A typical two-child family spends £4,730.04 on housing costs, £4,457.96 on food, £2,455.44 on commuting to work and more than £3,000 paying off loans and credit cards.

Commenting on the figures, Andrew Barker, managing director of Skipton Financial Services, said: “It’s frightening how everything adds up. The cost of living is astronomical and now more than ever people have to be on the ball with their expenditure and to keep on top of things, particularly at a time where inflation is riding well above target at 5%. Inflation continues to hit families hard with the rising prices of food, petrol and energy bills.

“It is not surprising that mortgage interest is the number-one spend, even though interest rates are at rock bottom levels. However, it is incredible to see that the cost of feeding the family is almost as expensive at almost £4,500 a year.”

Demand from those unable to secure funding to buy their own home or unwilling to make the financial commitment in the current economic circumstances will push average rent prices up by 20.5% by the end of 2016.

By this time, one in five households will be renting from a private landlord, compared with 15% today and 7.5% in the late 1980s.

House price growth is forecast to total just 6% over the next five years, meaning the value of the country’s housing stock will fall in real terms once the effects of inflation have been stripped out. This will equate to an 11% fall in prices, taking property values back to their 2002 levels.

The average house will be worth £170,000 in 2016, compared to £161,000 today, and £184,000 in 2007. London and southern markets will fare better than the rest of the country, according to Savills.

House prices in the north-east are likely to continue to fall until at least 2015, and may fall to levels seen 20 years ago. Prices in London and the south-east could rise by as much as 22.7% and 21.3% respectively by the end of 2015.

Yolande Barnes, director of Savills residential research “We have long been advocates of residential property investment in the private rented sector. Until recently this has primarily been predicated on the expectation of increased capital value, but there is now a strong case on the basis of income.

“A strong investment case can also be made in terms of the rapidly rising demand for private rented accommodation, a situation that is unlikely to change for as long as mortgage finance remains scarce and first time buyer deposits are unaffordable. And although rents have risen sharply this year, the inbuilt supply shortage means that we see nothing overheated about this market.”

“The biggest challenge now is how to deliver much needed supply into the private rentals market.”

A report published by the homeless charity Shelter last month found that private rents have become unaffordable in 55% of local authority areas in England and that 38% of families with children who rent privately have cut back on food to pay their rent.

Matt Griffiths, a spokesperson for the pressure group Priced Out, told the Guardian: “The rise in renting is overwhelmingly in younger households but also among couples and families in their 30s and 40s. Issues like security of tenure and sharply rising prices matter a great deal for young families, but the emphasis of government is on the rights of landlords and the free movement of investment capital.”

The ‘Surviving Winter’ campaign, which was launched this morning by the Community Foundation Network with the support of Saga, calls on wealthier over-60s to hand an amount equivalent to their allowance to a charity that helps low-income pensioners heat their homes in winter.

The winter fuel allowance, which has been cut this year by the coalition government, is not mean-tested. This means it is paid to millionaires who may not even spend winter in the country as well as those struggling on a basic state pension. The government gives at least £200 in winter fuel payments to anyone over 60.

Some 25,400 older people died in the UK last year because of the cold, according to the Office of National Statistics, with as many as 2,700 passing away as a direct result of being unable to heat their homes adequately.

The scheme has been backed by a range of public figures including Sir David Jason, Sir Terry Wogan, Sir Michael Parkinson, Ann Widdecombe and Jonathan Dimbleby.

Ros Altmann, Saga director-general, said: “Some of our customers last year wrote to us to say they would like their winter fuel payments to help others less fortunate than themselves. With rising fuel costs and the government’s decision to cut the winter fuel payments this year, vulnerable older people are suffering a double whammy, so Saga is fully behind this new ‘fuel-anthropic’ venture, helping channel donations into the right hands.

“Of course, it need not only be pensioners who donate money from their winter fuel payments. We are offering all our over-50s customers a chance to help those in need to cope with soaring fuel costs through the winter by making a donation to this appeal.”

Peter Smith, external affairs manager for NEA, the campaign sponsor, said: “NEA is delighted to be supporting the Surviving Winter campaign. As the national fuel poverty charity, we are only too aware of the dangers of living in cold damp homes, and with winter approaching many people will be dreading the prospect of cold conditions and high energy bills.”

“Through the campaign, we hope to raise awareness of the 6.6 million UK households that are currently estimated to be in fuel poverty, as well as work with individual community foundations to deliver effective, tailored solutions that will permanently remove people from fuel poverty.”

People wishing to make a donation can go to the Saga website or contact their local community foundation.

The UK’s largest lettings and property services group which operates 1,300 branches across the country, said properties on its books were being let in an average of 12.7 days in the three months to the end of September, down from 13.5 days in the same period of 2010 and half a day less than the previous quarter.

Tenant demand rose by 10.8% year-on-year in the third quarter of 2011, and 11.9% from the previous three months. Viewings increased by 17.8% compared to the three months to the end of June, and 8.2% annually.

In some areas, homes are coming onto the market and being let within hours. Nationally, an average of five tenants are competing for each available property, despite a marginal increase in the number of homes coming onto the market. In the West Midlands this figure rose to 7.3 tenants per home.

The report will be seen as good news for landlords and buy-to-let investors, but serves as further evidence that potential first-time buyers are struggling to secure the funding they need to get a foot on the housing ladder.

Margaret Longden, a director at Countrywide, said: “Since the beginning of the year we have seen a significant increase in tenant demand for private rental property and although there are still some slight fluctuations that can be linked to seasonality, we’ve found that the demand for rental property has remained incredibly high throughout the year.

“We expect this demand to continue over the coming months, not only because many first-time buyers are struggling to save the substantial deposits currently required to purchase property, but also because a lot of people now see renting as a realistic alternative to home ownership, whether it be because they are awaiting further house price falls or because they are attracted to the flexibility that renting can offer.”

The Commons Public Accounts Committee said yesterday that consumer protection laws had failed to keep pace with the methods used by fraudsters and that rogue traders are basing themselves in areas where policing and regulation is slight to rip people off across the country.

UK consumers lose £6.6 billion a year to online scams, defective or fake goods, bogus lotteries and unscrupulous doorstep traders. Some £4.8 billion is lost through malpractices which occur at a regional or national level, such as mass market scams, counterfeiting, and unscrupulous traders who operate over large geographical areas, according to the report.

The committee described the consumer protection system as “fragmented”, with some laws being administered at a national level and other locally. Regional trading standards offices can range from just two to 80 members of staff, meaning that consumers in different parts of the country do not receive a uniform level of protection.

Central government spent just £34 million on consumer law enforcement last year, the report found. Although spending at a local level was higher at £213 million, cuts to trading standards services and the slimming down of the Office of Fair Trading pose further threats to consumer protection systems.

Margaret Hodge, chair of the committee, said: “Consumers are being ripped off to the tune of £7 billion a year by sellers of defective goods, dodgy doorstep traders and online fraudsters. But the arrangements for protecting victims are incoherent and fragmented.

“Local authority trading standard services deal with cases within their areas, but rogue traders do not respect local authority boundaries. The National Audit Office reports that consumers lose an estimated £4.8 billion each year through regional or national malpractice and the enforcement system for dealing with scams at this level is inadequate. It was established to deal with single instances of trader malpractice, such as selling short measures, and has not kept pace with the rise of mass market scams, often perpetrated online.”

“Too often cases of consumers being ripped off fall through the cracks between enforcement bodies. £247 million was spent on enforcing consumer law in 2009-10, mostly by local authorities, but most trading standards services are too poorly resourced to take on regional work. In 2009-10, the department provided £8 million of funding to tackle scams and malpractice that occurred at a regional level. This funding has now ended.”

Research conducted by the supermarket and the anti-waste campaign group found the average household could save around £50 a month – £12 billion a year across the country -  by avoiding food waste. Some 8% of respondents to the survey said they might regularly throw away as much as a quarter of the food they bought.

Almost half of those questioned said they did not know how to store food safely, while more than two-thirds said they did not always plan their shopping by making a list. Some 11% said they regularly shopped while hungry, causing them to buy unnecessary product on impulse which they would later throw away.

Emma Marsh, Head of Love Food Hate Waste from WRAP said: “The industry has a huge role to play in helping reduce the amount of food we waste and we are working together to achieve solid results.”

“Our research shows, for example, that Brits throw away around 37 million slices of bread a day in the UK and we have a long way to go to prevent this. We hope that by working with Sainsbury’s, we will help individuals enjoy their food more by learning to love their leftovers, which will help the environment and save money.”

Defra Environment, Food and Rural Affairs Minister, Lord Taylor said: “Too much food gets wasted, which is not only bad for the household budget, but also bad for businesses’ bottom line. Since publishing the Waste Review we’ve introduced new guidance on food date labelling to help clear up confusion for customers and stop good food going to waste. We have also set up responsibility deals with the food industry to tackle waste in the supply chain and help them to save money.

“The government-backed Love Food Hate Waste campaign also provides advice to consumers on how to avoid food going to waste and the Government is leading by example after introducing standards requiring caterers to reduce what we throw away.”

As well as training its staff to give customers practical tips and advice to help reduce the amount of food they throw away, Sainsbury’s has produced a list of ways consumers can cut down their food waste.

1. Make the most of foods approaching use by date: why not cook and freeze for later use? For example, cook those sausages, freeze them and then turn them into a sausage risotto on another day.
2. Remember to check the fridge daily (not just to get the milk out!) and look at dates and what needs using up – use this information in your meal planning. For example, if the eggs are approaching their ‘best before’ date then it might be omelettes for tea instead!
3. No need to throw carrots and cucumbers away if they’ve gone a bit soft. Just put them in a glass of water in the fridge – they’ll perk up in no time. You can then peel and chop carrots, onions etc, bag them and freeze. When needed, just take out as much as you need and reseal. No more soggy veg at the bottom of your veg box.
4. A curry is a good solution for just about any unused or leftover food, even vegetables that are on the soft side will be fine in a curry or casserole.
5. Always finding the half used jar of pesto at the back of the fridge? Why not freeze the leftovers for another day?
6. Understand the best way to store foods to keep them fresher for longer. Keep your fridge at the correct temperature: below 5°C.
7. Storing fruit in the fridge can extend its life for up to 2 weeks (this does not work for bananas and pineapple).
8. You can keep food safely in the freezer for years, in theory, as long as it has stayed frozen the whole time. However, the taste and texture of food changes if it’s frozen for too long, so you might well find that it’s not very nice to eat.
9. Plan around your schedule and choose a time to plan when you will not be interrupted (too much) – include meals from the freezer, leftover recipes (e.g. pasta for tea, leftovers for lunch), cooking double and freezing half. If possible, use the time to look through cook books and recipes.
10. Get others involved in menu planning – this ensures there’s something for everyone.

Get Safe Online, a joint initiative between the government, law enforcement agencies, leading businesses, and the public sector to help computer and phone users avoid cyber crime, said attacks on smartphones increased by 800% in the last four months.

Fraudsters are creating malware that can take control of smartphone users’ handsets. This is bundled with apps sold through both official and unofficial app stores. As well as allowing criminals access to personal information, many rogue apps fleece unsuspecting phone owners through premium rate SMS services. The first the bill payer knows about the crime is when they receive their bill, at which point it is too late.

Rik Ferguson, director for Get Safe Online, said: “This type of malware is capable of sending a steady stream of text messages to premium rate numbers – in some instances we’ve seen one being sent every minute. With costs of up to £6 per message, this can be extremely lucrative.

“The user won’t know this is taking place, even if they happen to be using the device at the same time, as the activity takes place within the device’s ‘back end’ infrastructure. This can often continue for weeks before being noticed.”

Get Safe Online is urging smartphone owners to monitor their handsets for any unusual activity, check reviews and ratings as well as developer information before downloading a new app, keep an eye on battery levels – if your battery suddenly starts draining really fast, consider that it might be a malware problem, and regularly check phone bills online to keep tabs on any suspicious activity.

Tony Neate, managing director of Get Safe Online, said: “Smartphones are now at as much risk from fraud as their computer and laptop counterparts, and represent big business for online criminals. These devices are essentially mini laptops with a wealth of personal information.”

“Eighteen months ago, our primary concern was users not having secured the handset properly, giving fraudsters easy access to our data if it fell into the wrong hands; the majority of malware was relatively ‘trivial’. That has shifted and today there are clear signs of serious criminal intent to defraud users; we are seeing smart phones targeted by sophisticated and lucrative malware scams with increasing frequency and severity.”

The number of people declared insolvent fell by 1% from the previous quarter to 30,219. This was a decrease of 11.0% on the same period a year ago.  Personal insolvencies rose in the three months to the end of June to 30,513, which was up from 30,145 in the first quarter of this year.

The last quarter’s personal insolvencies were made up of 9,567 bankruptcies, 13,048 Individual Voluntary Arrangements (IVAs), and 7,604 Debt Relief Orders (DROs). Some 79% of bankruptcies were made on the petition of the debtor, down from 83% in the previous quarter, suggesting that lenders are abandoning forbearance.

Company insolvencies rose by 2% to 1,253 in the three months to the end of September.

Speaking to the Press Association before the figures were released, David Kerr, chief executive of the Insolvency Practitioners Association, said: “Even if the numbers don’t show a remarkable change, it does not necessarily mean there isn’t a problem brewing.

“If people are beginning to struggle because of the economic circumstances generally, job losses, increased costs of living, you would expect that to work its way through to the personal insolvency figures.”

The Consumer Credit Counselling Service (CCCS) has said personal insolvencies are likely to rise due to stagnant wages, high inflation and redundancies.

Delroy Corinaldi, director of external affairs at CCCS, said: “There are millions of people teetering on the brink financially, whose household budgets are getting harder to manage every month.”

The supermarket’s Income Tracker recorded its steepest monthly fall since it began four years ago in September, the third consecutive month of decline. The average UK household was left with just £163 a week of discretionary income last month, 8.4% lower than the same time last year.

Household income dropped more sharply in some parts of the country than others. Average disposable income in Northern Ireland fell by £18 to £76 a week, while families in Yorkshire and Humber were left with just £88 after meeting all essential outgoings. The average households in the North East and in the West Midlands were left with £100 and £108 respectively.

Discretionary spending in London stood at £276 per week throughout the third quarter of 2011.

Household budgets are under increasing pressure from rising inflation and stagnant wage growth, according to the report. The Consumer Prices Index rose to 5.2% last month while average wage settlements are running at less than half that in the private sector.

Over a third of respondents questioned for the index said the cost of utilities is the biggest drain on family disposable income.

Charles Davis, managing economist at Centre for Economics and Business Research which conducts the survey on behalf of Asda, said, “Family spending power continues to be under significant pressure from the three-pronged threat of fragile wage growth, rising unemployment levels, and soaring consumer price inflation.

“The latest Asda Income Tracker illustrates how household disposable income has dropped considerably from a year ago. As utility price increases continue to feed through into erosions in family budgets, a tough couple of months lie ahead. However some pressure could ease from the start of 2012, as inflation is expected to fall back.”

Andy Clarke, Asda President and CEO, said, “For eighteen consecutive months we’ve seen a decline in family spending power. While disposable income was down everywhere in September, there is clearly a growing divide between the North and the South.

‪”Spiralling petrol costs are piling on extra pressure on households across the north of England and Northern Ireland where families are much more reliant on the car to get about.”