What price can Generation Rent afford, though? 50% lower I guess.

Property Reporter: Gross mortgage lending down 19% year-on-year

"With people increasingly wary of rate rises, remortgage levels also remain high. Inflationary pressure to come means the first rate rise in a long time may no longer be too far off. Brexit-related uncertainty continues to see many would-be movers sit on their hands, and the General Election could see even more conservatism in the months ahead. Dire supply levels are also damaging demand. There's very little on the market and people aren't in a hurry to buy homes they sense are languishing rather than electrifying. At the high end of the market there has been an influx of cash buyers over the past nine months given the weakness of the Pound. But with Sterling seemingly in bounce-back mode, we may see this trend tail off."

Posted by sneaker @ 09:46 AM 1 Comments

Must be that Brexit thing again!

The Guardian: Lenders report 42% fall in loans to landlords as tax changes begin to bite

The CML says that if the March trend continues “we can expect to have seen around 70,000 buy-to-let house purchases in the last year. This compares with 142,000 in the 12 months leading up to the stamp duty change. That’s 42% lower year-on-year”. “It is too early to predict long-term effects of these measures on the balance of tenure. But we may be beginning to see the reversal of a long period of expansion of the private rented sector.”

Posted by sneaker @ 09:43 AM 0 Comments

Thursday, Apr 13, 2017

What else can they throw at it?

Dailymail: Property market in doldrums

looks like chickens coming home to roost...I keep an eye on central London property/prices and the amount of stock for sale is unbelievable...prices of 1/2 bed flats have plunged imo what else can they throw at it

Posted by taffee @ 10:15 AM 8 Comments

Sunday, Apr 2, 2017

UK not as bad as Oz but that's setting the bar low

Zero Hedge: Australia Has The World's Worst Money-Laundering Property Market

Transparency International has released a new report, entitled Doors Wide Open: Corruption and Real Estate in Four Key Markets, which has identified Australia, Canada, the UK and the USA as the top four spots targeted by corrupt officials or criminals for real estate crime.

Posted by quiet guy @ 09:39 AM 2 Comments

Saturday, Apr 1, 2017

Government meddling has made housing less affordable for first time buyers

BBC News: Better-off cashing in on Help to Buy scheme, research finds

Just over half of the people who have received taxpayers' money to help them buy a home under a government scheme did not need it, according to research. About 4,000 households in England earning more than £100,000 annually are in the Help to Buy Equity Loan scheme. Official figures to December 2016 show more than 20,000 households who are not first-time buyers have been helped. The initiative, which started in April 2013, aims to make buying a home more affordable. But research conducted for the government found 57% of those who signed up to it said they could have afforded to buy without access to the scheme.

Posted by quiet guy @ 12:40 PM 4 Comments

Friday, Mar 31, 2017

Just a blip?

BBC News: UK house prices in first monthly fall for 20 months

Average house prices across the UK fell by 0.3% in the month of March, according to the Nationwide, the first fall since June 2015.

Posted by wdbeast @ 11:26 AM 4 Comments

Wednesday, Mar 29, 2017

BTL League of Gentlemen

Telegraph: Britain's biggest landlord bans 'coloured people' because of 'the curry smell'

One of Britain's biggest buy-to-let landlords, Fergus Wilson, has banned 'coloured' people from renting his properties because, he says, they leave them smelling of curry. When contacted by The Sun Mr Wilson defended his comments, saying : "To be honest, we’re getting overloaded with coloured people. It is a problem with certain types of coloured people — those who consume curry — it sticks to the carpet.

Posted by quiet guy @ 07:56 AM 19 Comments

Sunday, Mar 19, 2017

It's all Brexit's fault, surely?

The Star, Malaysia: China's capital controls start biting

In recent years, mainland Chinese corporations and cash-rich individuals have been the world’s largest buyers of real estate but this global property binge may subside soon. Since late November, the world’s second largest economy has been scrutinising the deals and projects of its home grown companies abroad and fund repatriation by individuals, particularly towards mega property investments, doubtful mergers and acquisitions (M&A).

Posted by sneaker @ 07:30 AM 0 Comments

Friday, Mar 17, 2017

QE, asset-price inflation and wages

Bloomberg: Here’s One Chart That Captures the Debate Over QE

First chart shows the 'stellar' gains in world asset prices since 2008 and the sluggish growth in the economy. “We don’t know how effective QE has been (i.e. for the real economy) because we don’t know what would have happened without it,” said Peter Oppenheimer, chief global equity strategist at Goldman in London. Falling interest rates supported most financial assets, while for the economy “QE has been effective to prevent downside risk,” he said. Any suggestions for a translation of this quote? Third chart shows how ballooning central bank balance sheets have ballooned equity prices. Will the Fed rein back QE and raise Treasury yields and mortgage securities?

Posted by icarus @ 01:11 PM 0 Comments

Sunday, Mar 12, 2017

Damn that pesky Brexit

Zero Hedge: Manhattan Luxury Housing In Freefall: J.Crew CEO Slashes Tribeca Loft Price By Over 40%

If the downturn in London property is because of Brexit .... then why is it happening everywhere? Manhattan, Los Angeles, Vancouver, Hong Kong, you name it.... The answer is it's nothing to do with Brexit! It's because of capital flight controls in China and all the other factors we know well: rising US Dollar interest rates, Russia sanctions, oil crash etc etc But no doubt what's happening in London will be myopically attributed to Brexit. I read elsewhere that Nine Elms bee builds are being offered "cheap" but in reality even down 30% they are still expensive. Who are the buyers if offshore buyers can't cough up any more? The answer is onshore buyers, but only at prices they can afford and they are much lower... the market will clear but not up here.

Posted by sneaker @ 10:09 AM 2 Comments

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