Refusal to increase building

Guardian: Berkeley: We can't meet government demands for extra new homes

Berkeley don't think they can increase profits by increasing housebuilding, and point out a number of government related factors. Costs of moving homes, planning difficulties, mortgage limits, btl tax relief changes and economic uncertainty. I do have some sympathy for house builders in fact, because if you potentially facing ongoing falls in the underlying valuation of the land with planning permission, then popping flats or houses on top won't save you from a loss, because its not what people are buying. As construction costs haven't changed. So now May, who is useless, is either going to be forced into government action a la Corbyn or do nothing (

Posted by stillthinking @ 10:56 AM 3 Comments

Thursday, Mar 15, 2018

Pass the Vaseline

The Independent: Savills becomes latest estate agent to warn over challenging housing market

I just love how 'price declines' are given the politically correct term 'volatility' or 'uncertainty'. It's like how what's unfolded since 2008 has never been labelled a 'depression'. Call it like it is. House prices are going down, led by a much-needed crunch in London. I wouldn't want to be an offshore owner of all those newbuild "LUXURY DEVELOPMENTS" now!!! You don't vote, you don't pay tax, you don't live here, you can't sell because nobody onshore will pay them -- and we don't care!

Posted by sneaker @ 05:12 PM 0 Comments

Wednesday, Mar 14, 2018

What are the conservatives now?

Torygraph: 41bn deficit

If you look at the political system in the UK you are supposed to have a choice between left and right. The Conservatives are meant to champion the free market and lower government spending. Yet, not only is the level of tax the same under the Conservatives as New Labour, we have a situation where property prices are 5x or 7x times cost of building. Market failure. University fees are all at the max. Market failure. No market based reform has been attempted in the NHS i.e. the reality that doctors do a job same as everybody and need to compete on price and quality is ignored. Schools exactly the same. Now I read this, that Hammond is sounding out 5p increases on income is the platform the Conservatives are going to campaign on???

Posted by stillthinking @ 05:39 PM 1 Comments

Tuesday, Mar 13, 2018

The problem with a property price slowdown

Capital and Conflict: The problem with a property price slowdown

The UK’s property boom is sputtering and stuttering. You should be very worried about what happens next. House prices fell nationally in the last three months reported Halifax. The Royal Institution of Chartered Surveyors (RICS) house price index hit zero in February. It was a bigger drop than forecast by any economist polled by Reuters and the lowest since March 2013.

Posted by cornishman @ 12:16 PM 9 Comments

Monday, Mar 12, 2018

Brexit not insane prices blamed

Grauniad: London property prices fall as much as 15%

Shoeboxes will still be a million quid if it weren’t for Brexit. I can just hear Generatikn Rent weeping into their Guardians.

Posted by sneaker @ 08:09 AM 0 Comments

Friday, Mar 9, 2018

Can't believe how quiet you lot have been about this

FT: Foxtons profits slump as London home sales ‘near historic lows’

Their share price has been dropping ever since 2014 yet this blog almost went silent during much of that time. Seems to be waking up a bit now. Where's everyone been??? Are there better places to go? "Profits at Foxtons have slumped nearly two-thirds as the London-focused estate agency grapples with a slowdown that has pushed sales activity in the capital’s property market to “near historic lows”"

Posted by sneaker @ 05:06 PM 6 Comments

Saturday, Mar 3, 2018

Says alot about the Mail readership

Daily Mail: Experts warn of buy-to-let crunch

As commented before the BTL gravy train is being turned off. The Daily Wail obviously think that they have more BTL landlords than potential FTBs in their readership. ARLA continuing the myth that houses mysteriously disappear when withdrawn from the rental market. That certainly didn't happen in 1982 when friends, landlord was trying to sell him a house near Stapleton Road railway station Bristol for £15K as he wasn't making any money from it !!!

Posted by tenyearstogetmymoneyback @ 11:11 AM 6 Comments

Saturday, Feb 17, 2018

Repeat until its fact

Reuters: Not so fast: Inflation may take a while to stir

It is -so- often repeated that low unemployment, over-heating, causes inflation. Clearly though this is rubbish, no company can pay more in real terms than the real output of the worker without going bust. What low unemployment shows up is too much lending (i.e. new money credit expansion) when there aren't enough workers. As in, wage inflation is a monetary phenomenon, too much money, and -not- a low unemployment phenomenon. Wage inflation is the revelation of a balls up by the central banks with too loose monetary conditions and takes 4 years too put the toothpaste back in.

Posted by stillthinking @ 08:08 PM 2 Comments

Friday, Feb 16, 2018

A generation enjoying a better life than their parents. Not.

BBC News: Mid-earners 'locked out of buying a home'

The extent to which young people are locked out of the British housing market has been revealed in new figures from economists. The biggest decline in home ownership in the last 20 years has been among middle-income 25 to 34-year-olds, the Institute for Fiscal Studies said. In 1995-96, 65% of this group owned a home, but just 27% do in 2015-16, with the biggest drop in south-east England. Middle earners are defined as having take-home pay of £22,200 to £30,600. This can be either as an individual or as a couple. A third of them are university graduates, while 30% left school at 16. Three-quarters of them live with a partner, and around 60% have children.

Posted by quiet guy @ 09:17 AM 13 Comments

Wednesday, Feb 14, 2018

England & Wales -0.4%, London -4.3% YoY

Evening standard: London leads house price plunge into ‘the red zone’ as market records worst performance since financial crisis

In answer to Frizzers' post below ... the capital heads a year on year slide, now reflected in E&W figures too.

Posted by nickb @ 10:23 AM 2 Comments

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