POUND NOTES
Three-quarters (76%) of younger investors who have put money in high-risk products such as cryptocurrency say they are driven by competition with friends, family, acquaintances and their own past investments.
More than two-thirds (68%) likened placing their money in an investment to gambling.
The findings were released by the Financial Conduct Authority (FCA), which has launched a new £11 million fiveyear campaign called InvestSmart, targeting inexperienced investors.
The campaign asks investors to consider their appetite for risk and ignore hype, directing them to advice on the FCA’s website.
More than half (58%) said hype on social media, from other people, and in the news encouraged them to purchase specific investments.
Deliveroo revealed sales continued to grow in the last three months despite the end of Covid-19 restrictions meaning diners could eat at restaurants again.
The food delivery platform said gross transaction value (GTV) – the industry’s preferred measure – in the UK and Ireland was up 56% to £852 billion, with orders rising 59% to 35.8 million.
However, there was a slight fall of 2% in the GTV per order to £23.80, the company added.
The average UK house price was £25,000 higher in August than a year earlier, according to official figures.
Property values increased by 10.6% over the year to August 2021, up from 8.5% in July, the Office for National Statistics said. It added: “The average UK house price was £264,000 in August 2021, which is £25,000 higher than this time last year.”
Average house prices increased over the year in England to £281,000 (a 9.8% annual increase), and in Wales to £195,000 (12.5%).