Criminal investigation into Fed chair Powell has ‘reinforced’ concerns over independence, Goldman Sachs warns, as dollar weakens – as it happened

Rolling coverage of the latest economic and financial news

• Justice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal Reserve

In the UK property sector, a higher proportion of homes in London were sold at a loss than any other region in England and Wales last year.

Estate agency Hamptons has reported that nearly 15% of London sellers sold for less in 2025 than they originally paid, almost double the national average of 8.7%.

Last year, the average homeowner in England & Wales sold for 91,260 more than they paid, a value increase of 41.0% over an average holding period of 9.0 years. This is 570 less than the 2024 average of 91,830.

Stronger recent price growth in Northern regions has boosted returns, meaning many sellers in the North of England achieved proportionally higher gains than those in much of the South.

Flat sellers were four times more likely to make a loss than house sellers in England & Wales (19.9% vs 4.5%).