'World's first solar-powered railway being built in Britain'

News of the world's first solar-powered railway being built in Britain features in today's newspaper round-up.

The Times reports that "the world's first solar-powered railway is to be built in Britain under plans to cut the network's running costs while generating profits for local communities". According to the newspaper, just over 100 miles of line in south Wales "will be partially powered by renewable energy as part of a project to decarbonise the railways". It is hoped  the development "will eventually be replicated in other parts of the UK where the electrification of lines has been undermined by high costs," it adds.

The Guardian reports that UK property funds have suffered their "worst week" since the Brexit referendum and "raised fears that funds may be forced to close". It said that last week, M&G, one of the UK's biggest asset managers, "shocked small investors when it blocked withdrawals (called redemptions) from its high-profile £2.5bn property fund". Since then, the newspaper adds, "demands for withdrawals at other funds have rapidly accelerated, according to data from Calastone, a fund transaction network". In he week since M&G's closure, Calastone said investors "have taken a further £193m out of UK property funds, significantly ahead of even the heightened level of redemptions of £176m a week before M&G closed its doors".

According to The Times, house prices "have not risen in real terms over the past ten years", citing figures from estate agent and consultancy Savills. These show that "house prices in Great Britain have risen by 34 per cent on average in the past decade, but once these are adjusted for inflation, they have fallen 0.3 per cent". "There has been practically no real house price growth across the country as a whole," said Lucian Cook, head of research at Savills, who analysed average house prices from Nationwide between 2009 and 2019. 


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