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Construction cements its post-election bounce back: The sustained recovery of the British construction industry accelerated in September as growth hit its fastest rate in six months. The construction purchasing managers’ index, produced by Markit and the Chartered Institute of Procurement and Supply, rose to 59.9 last month, its strongest number since February. The index had been expected to come in at about 57.5 but the strength of the new housebuilding market and better hiring levels pushed it above expectations.

Brent oil prices dropped last week, after the EIA informed that the US crude oil stockpiles unexpectedly climbed 4 million barrels for the week ended 25 September. Brent crude oil prices fell 1.0% to $48.13/barrel

North Sea oil and gas firms told: Get on and collaborate: North Sea oil and gas firms recognise they need to collaborate more to help the industry survive the crude price plunge but only a small minority are doing anything about it experts have found

Cost of flatsharing in U.K.’s priciest towns rises by 30% in three years: The cost of flatsharing in some of the U.K.’s most expensive towns and cities has soared by nearly 30% in the past three years, with tenants in five cities now paying more than £500 a month to rent a room in a shared house

Green belt shrinking as 5,000 acres lost to housing: Green belt land is being sacrificed to build housing at the fastest rate for two decades despite repeated government promises to protect it.

BP hopes to strike deal with Iran and go back to its roots: BP is in talks about a return to Iran that could mean the oil company investing billions in the country where it was founded more than a century ago

At 0330GMT today, Brent crude oil one month futures contract is trading 0.94% or $0.45 higher at $48.14 per barrel. Yesterday, the contract declined 1.41% or $0.68, to settle at $47.69 per barrel, after lower than expected manufacturing data from global economies raised demand concerns for the commodity.

Help to Buy continues to fuel 95% market The 95% LTV mortgage market has changed dramatically since the Help to Buy Mortgage Guarantee scheme was introduced two years ago, with product numbers rising and rates falling significantly since its October 2013 launch. Our figures show that the number of 95% products available has risen by almost 600% in the last two years - up from 42 in October 2013 to 241 today - and at the same time, the average two-year 95% LTV mortgage rate has fallen by 0.65% (down from 5.05% to 4.40%). The average five-year rate has also fallen, albeit not quite to the same extent, down from 5.20% to 4.89% over the same two-year period. Charlotte Nelson, finance expert at Moneyfacts, said that Help to Buy acted as a "crucial catalyst" for this sector of the market, by "promoting the acceptability of lending at this level again". She added that the scheme, which was initially designed to boost lending at 95% LTV, has been an undoubted success, with official Treasury figures showing that the number of homes sold as a result of the scheme has hit 56,401. However, despite the scheme fuelling the high level of competition in the sector - both from participating lenders and those outside of the scheme - there are concerns that this may not be the case for much longer. "The scheme is due to end next year, and only time will tell whether its removal will extinguish the competitive flame in the 95% mortgage market," concluded Charlotte, while the ongoing speculation over a rise to base rate has the potential to raise mortgage rates in the sector even sooner.

Aggressive North Sea expansion planned by London oil and gas firm: A London-based oil and gas firm has unveiled plans to expand aggressively in the North Sea as its Chairman said the crude price slump might be good news for the area.

Aberdeen oil and gas firm highlights appeal of Nigeria: Aberdeen-based Eland Oil & Gas is facing fresh challenges in Nigeria but has emphasised its commitment to investing in the country where Directors believe the new administration is doing good things.

Mexico oil auction eases memory of previous sale flop: Despite the plunge in oil prices, Mexico banished the bitter memory of its oil tender flop by awarding more blocks than the government expected, to a range of companies on lucrative terms

London house price leap set to lift regional gloom: Property prices are set to increase this autumn after a surge in London was forecast to ripple out across the country on the back of a worsening imbalance between supply and demand.

UK GDP rose less than expected in 2Q 2015 The final gross domestic product (GDP) in the UK advanced 2.40% on an annual basis in 2Q 2015, lower than market expectations for an advance of 2.60%. The preliminary figures had recorded an advance of 2.60%. GDP had registered a rise of 2.90% in the prior quarter

UK house prices rose more than expected in September On a monthly basis, the seasonally adjusted house prices in the UK climbed 0.50% in September, compared to a revised advance of 0.40% in the prior month. Market anticipation was for house prices to climb 0.40%. UK house prices advanced as expected in September The non-seasonally adjusted house prices in the UK recorded a rise of 3.80% in September on an annual basis, meeting market expectations. House prices had advanced 3.20% in the previous month.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.85% or $0.41 higher at $48.78 per barrel. Yesterday, the contract climbed 0.29% or $0.14, to settle at $48.37 per barrel, amid mixed reports from the Energy Information Administration. The US crude stockpiles advanced by 4.0 million barrels for the week ended 25 September. However, the oil production dropped 40,000 barrels a day to settle at an output of 9.1 million barrels per day.

Hammerson and Allianz buy £1.4 billion Irish shopping mall loans portfolio: Hammerson has made a major foray into the Irish property market after buying a portfolio of loans secured against some of the country’s biggest shopping centres for €1.85 billion (£1.37 billion).

Trinity Exploration & Production facing uncertainty amid oil price fall: The auditors of the Trinidad oil and gas business developed by North Sea veteran Bruce Dingwall have highlighted material uncertainty about the firm’s ability to remain a going concern, after it incurred hefty losses amid the crude price plunge

Buy a house for just £56 per week say MJ Gleeson: MJ Gleeson, the Northern-based builder of affordable homes, has reported a 42% jump in profits. Jolyon Harrison, its Chief Executive, said the mission for the company was simple: “To build low-cost homes for people on low salaries in socially deprived areas that we believe will benefit from regeneration.” The company increased the number of homes it built during the year by 190 to 751, and the average price across all its homes was £123,750, just 2% up from £121,500 last year. For comparison, Barratt, one of the U.K.’s largest housebuilders, has an average selling price of £235,000. Gleeson reported revenue up 44% to £118 million and pretax profit up 42% at £17.3 million for the year ended June. The majority of the performance came from the Gleeson housing division, which reported operating profit up from £9.4 million to £17.4 million. This was largely due to selling those 190 more homes. The company suffered in 2008 when its southern-focused housebuilding was hit, sending shares down from about 400p, to 52p. Gleeson has now completed its recovery, and it moved to the main market at the end of last year, where its shares have gained more than 30% so far this year. Given the lack of affordable housing, the shares look good over the long term, and we retain our “hold” recommendation. MJ Gleeson at 466p-0.625p. Questor says “Hold”.

Loan surge raises housing bubble fear: Mortgage lending rose last month by the greatest amount since the 2008 financial crisis, fuelling concerns that the housing market is heating up fast

UK number of mortgage approvals for house purchases rose in August Number of mortgage approvals for house purchases in the UK rose to a level of 71.00 K in August, higher than market expectations of a rise to 69.80 K. Number of mortgage approvals for house purchases had recorded a revised reading of 69.00 K in the previous month. UK net lending secured on dwellings rose more than expected in August Net lending secured on dwellings recorded a rise of £3.40 billion in the UK in August, compared to a revised advance of £2.80 billion in the prior month. Market anticipation was for net lending secured on dwellings to climb £2.90 billion.