London -3.7% MoM

Metro: Biggest Fall in House Prices in 5 Years

Tis the season to be jolly.

Posted by nickb @ 10:19 AM 2 Comments

Sunday, Dec 10, 2017

Pushing up house prices and increasing mortgage debt are his answer!

Brexit Central: Tony Blair’s secret memo to Alastair Campbell: My 12-point plan for stopping Brexit

Blair himself believes that you have to "keep the people happy by building more houses and offering bigger mortgages, rather than dirty factories or risky investments." Now last time I checked, having a £1m mortgage for shoebox was neither wise nor happy-making. What's he been smoking?

Posted by sneaker @ 12:55 PM 0 Comments

Thursday, Dec 7, 2017

UK wealth

Torygraph: The UK is worth £10tn - and more than half of that is from land value

"The UK is worth £10tn - and more than half of that is from land value"... Except unfortunately land value is from planning permission which is potentially free.

Posted by stillthinking @ 12:10 AM 4 Comments

Monday, Dec 4, 2017

People are broke because of housing costs

Joseph Rowntree Foundation: Benefits freeze: Families facing another 12 months of misery

There's a massive problem here. It's not that people are having their benefits frozen. It's not that housing costs have risen so high. This tells me that housing costs are unnaturally high. We see state subsidy of housing in two ways: Help To Buy helps people afford otherwise unaffordable purchases - and of course, prices will rise by exactly the amount of this subsidy. On the rental side, we see that benefits help(ed) people afford otherwise unaffordable rents. In short, this means that government money is going directly into the pockets of property development investors (who buy early stage off-plan and sell to the end-buyer) and landlords. And we just sit there and watches as our money gets siphoned offshore, tax-free and hear this is a triumph of the "free market". BS, I say.

Posted by sneaker @ 06:58 AM 3 Comments

Sunday, Dec 3, 2017

Will lack of pensions cause the next crisis

BBC: Renting in Retirement - How feasible is it ?

When I look at the pensions companies offer today compared with twenty years ago I wonder how lots of people will cope in retirement. They might be very grateful for the one bedrrom council flat in Catford of Daily Mash fame.

Posted by tenyearstogetmymoneyback @ 09:49 PM 0 Comments

This blog is quiet again - tells me the bears are slumbering

The Grauniad: Tony Blair backs Labour’s ‘land value tax’ to tackle housing crisis

I trust he has sold his central London house then! "Tony Blair is backing one of the most controversial measures raised in Labour’s last manifesto, by supporting a new “land value tax” designed to help solve the housing crisis. The former prime minister said the new tax, which sees the value of underlying land taxed rather than property, should replace council tax and business rates to create a “fairer and more rational system of property taxation”."

Posted by sneaker @ 10:52 AM 1 Comments

Friday, Nov 24, 2017

Empty Homes spike in London commuter belt

BBC Busines: Empty Homes spike in London commuter belt

"Buy-to-leave" investors were active in those areas, experts said. The government gave councils new powers to charge a 100% council tax premium on empty homes in Wednesday's budget Are they going to enforce it?

Posted by magnifico @ 11:29 AM 18 Comments

And here we have the evidence just a few hours after the budget FFS

Evening Standard: Stamp duty stampede on first-time buyer homes in London

I want to cry

Posted by mombers @ 09:26 AM 5 Comments

Thursday, Nov 23, 2017

Budget Commentary

Notayesmanseconomics's Blog: UK house prices get ramped one more time

Yesterday we got the conformation we expected that the UK establishment cannot stop itself from meddling in the housing market with the intention of pushing house prices up. The various readings that the house price was turning highlighted by actual falls in the London area was always going to focus their minds.

Posted by quiet guy @ 08:36 PM 0 Comments

Life copies satire copies life

Daily Mash: House prices increase by precisely the amount of stamp duty cut

THE price of homes for first-time buyers has gone up by exactly what they are set to save after yesterday’s cut in stamp duty. Prospective first-time buyers of a £280,000 London flat, set to save £4,000 in stamp duty, will now find that the flat costs £284,000. Estate agent Carolyn Ryan said: “I’ve just finished changing all the prices in the windows. “It took two hours actually, so unfortunately we will have to pass that on to buyers as an extra £200 admin fee.”

Posted by mombers @ 02:04 PM 2 Comments

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