UK house prices declined between May and June against expectations of a further increase.
London - House prices in UK fell by 0.2% between May and June which led to the annual price index decelerating to two-year low of 3.3%, down from 4.6% a month before, according to the mortgage provider Nationwide. Both figures missed the market expectations of a further increase in price growth. Unlike Nationwide, property portal Rightmove informed that the earlier average asking price increased by a record high 3%, or Â£8,500, between May and June.
I agree, but think USA will be yet more attractive for capital flight.
"It does look as though the London real estate market will benefit to a certain extent from safe haven status and the ongoing problems in Greece. Whether this will stretch what many perceive to be already overvalued UK property assets remains to be seen but there is no doubt that the decision of previous UK governments not to adopt the Euro is certainly starting to pay great dividends for the country."
Selling ourselves out
A discussion about the way the property market is changing London for the worst. "It is suffering a form of entropy whereby the distinctive or special is converted into property values. Its essential qualities, which are that it was not polarised on the basis of income, and that its best places were common property, are being eroded. It is becoming the case that delights and beauties are available only at a high price. This would matter less if the city were making new places with the qualities of those now packaged up and commodified â if the supply of good stuff were expanding â but it is not."
Evidence that landlords can pass on their increased tax bill = no
"But the consequences for borrowers, lenders and the property market could be unexpected and iniquitous. My guess is landlords would push up rents as far as they could." Just the same as landlords pushing rents up or down as their interest bill goes up and down, right? How on earth does this bloke expect tenants who are already paying the absolute max that they can to miracle up some extra money to bail out the poor starving landlord? What will happen is that many will sell up, mainly to higher income tenants, leaving a smaller pool of lower income tenants and hence LOWER rents. An much easier reform in my opinion is to get rid of the ridiculous 10% maintenance allowance. It effectively means that maintenance is not deductible. If you spend Â£1000 or Â£0, you get the same deduction.
Same old Tories. Smiling in your face whist stabbing you in the back; 'This Government talks a lot about its 'northern powerhouse', but its policies are to remove resources and opportunities away from the north. It is time for David Cameron to be honest about what is happening on his watch.'
Luxury homes led the demand, now lead the fall?
Terrible people can't afford rent, shame on them
Anna White posting useful facts for once
"Many prospective first-time buyers and young families in the UK are trapped in rental accommodation as the chronic lack of homes - particularly in the London and the South East - continues to prop up house prices, making it more difficult to get on the property ladder." If only the houses they're renting were available to buy, then perhaps there would be no shortage...?
Mostly just an end to exemptions of sporting estates from business rates
Your own 10 acre island for Â£450K?
With its own shingle beaches and inlets, several outbuildings, a paddock, extensive woodland, overgrown tennis court, coarse fishing, space for yacht mooring and a host of wildlife. All within 5 minutes walk of the town centre. Why would anyone want to pay a zillion squids for a high rise flat in London?