Monday newspaper round-up: London house prices, Visa data, Help to Buy

House prices in parts of London that were once at the epicentre of the UK property boom have fallen as much as 15% over the past year in fresh evidence of the impact of the EU referendum. Figures from Your Move, one of the UK’s biggest estate agency chains, reveal that the average home in Wandsworth – which includes much of Clapham, Balham and Putney – fell by more than £100,000 in value over the last 12 months. – Guardian

A chorus of downbeat reports on the health of the British economy published on Monday presents a sharp contrast to the chancellor Phillip Hammond’s spring statement message that there is “light at the end of the tunnel”. Credit card company Visa said spending on cards fell again in February, dropping 1.1%, and that the first quarter of 2018 was on track to be the “worst on record”. It said spending by consumers had fallen in nine out the past 10 months. – Guardian

Product innovation firm CPP, which was hit by a misselling scandal in 2012, is set to re-enter the UK market in the next few months after buying a significant minority stake in KYND, a start-up offering cyber security services to small businesses. The firm has also appointed a new managing director Michael Whitfield. Mr Whitfield was previously acting executive chairman at specialist EU insurer Building Block. – Telegraph

The Government flagship housing policy, Help to buy needs to be dramatically reformed in order to stop housebuilders from using it to boost their profits irrespective of how many homes they build, according Northern firm Avant Homes. The scheme, which is intended support would-be first time buyers in their efforts to get on the housing ladder, must be dramatically changed in order to encourage a “social conscience” among housebuilders, the housebuilder said. – Telegraph

Nearly 400 retailers, including big high street chains, could struggle to meet higher interest payments this year, a City financial analyst has warned. A study by Company Watch of 1,600 retailers with assets of at least £5 million has identified 392 in its “warning area”, suggesting that they are about 25 times more likely to suffer financial distress than their peers. Among them are New Look, Mothercare, Poundland, Debenhams, AO World, DFS and Conviviality. – The Times

London transport officials have banned a French advert urging British businesses to “vote with their feet” and move to France as the UK quits the European Union. A poster campaign encouraging entrepreneurs to “leave post-Brexit fears behind” was blocked because it could be controversial. The Normandy Development Agency had hoped to target London by taking out adverts across the city’s Tube and bus network. In an effort to persuade commuting entrepreneurs to cross the English Channel, the ads featured a fictional newspaper called The Normandy Times, which advises: “You will find the process as smooth as their Camembert . . . or their oysters for that matter.” – The Times