InlikeFlynn

As others have said earlier in the thread, The Telegraph is running a low level but persistent campaign to have some of the recent/proposed changes to BTL reversed. The Barclay brothers, who own the Telegraph, have substantial property holdings and presumably some influence over the Conservative party. I wouldn't be at all surprised if the chancellor throws them a bone in the autumn statement. Perhaps abandoning the stamp duty changes?

Moderators, Any chance this could be moved to the main or current affairs forum? The OT Forum should be for discussions about dodgy dating websites, the economics of car ownership and V8 engines etc. not this sort of serious nonsense!

It's worth it just to watch Darren Hannan throwing a twitter fit. Seriously though, as others have said earlier this won't stop Brexit. Either the legal decision will be overturned on appeal or Theresa May will put the issue before parliament. There may well be lots of shouting and handwringing but in the end few MPs are going to defy their electorates and vote to block the referendum result. It's a shame that the process has been slowed down but it's the way democracy works.

Certainly, but we buy our petrol/diesel in GBP and CPI is calculated in GBP.

Good spot - I hadn't seen today's movement. Brent crude (priced in sterling) has now more than doubled sinced early February.

Full report here

Up from 0.6% pa to 1.0%. Market expectation was ~ 0.9% according to Forex factory RPI up to 2.0%

I've owned a few houses over the years, one>500 years old the others 150 -200 years old. The 1% figure sounds pretty fair, but as a previous poster says a price per m2 would be more informative. Some new builds are appallingly built and give nothing but trouble. very true. A well built stone walled house from the 18th/19th century with a slate roof and good roofing timers will give few problems if properly looked after. The crucial factor in maintaining a house is to do as much as possible yourself. My experiences with tradesmen have been variable. A very few have been excellent craftsmen, most have been fking charlatans. I now have a healthy contempt for the British tradesman and only employ a plasterer and carpet layer. the rest I do myself. If you are not prepared to learn the basics of DIY then be prepared to pay thousands over the odds for home maintenance.

One of my wife's extended family has done the classic "just rent it out, innit" and held on to their flat in crystal palace whilst moving a house outside London. The flat is empty because "rents are falling" according to their mother and they haven't priced it correctly. To hear her say this is extraordinay: I've known her for decades and she was always a dyed-in-the-wool property bull. The market (and sentiment) is really changing.

Depends where you are. Some areas of the country (predominantly the East side) are blessed with good arable land and less rainfall, so most of the farming there is cereals, oilseed rape, potatos and other veg etc. Poor soils and heavy rainfall tend to favour grass (for grazing/silage etc.). There's a trend away from extensive cattle grazing systems to a more intensive system where cattle are kept in sheds with access to a couple of fields (in spring/summer only) with supplementary food being brought in as silage (grass and maize) + other feeds. The rest of the fields are under grass or maize and never see an animal. The reason for this is that cattle churn up fields something rotten, reducing grass yields and allowing weeds to thrive. Managing your grass as a crop is much more efficient. If you go to upland Britain you'll see plenty of sheep in spring/summer. "Dog and stick" farming is still very extensive. Pigs and poultry are now overwhelmingly reared in sheds, although there is a small free range market. Free range poultry in the typical big units tend not to go outside much - their sheds are more comfortable!

Or that we can't grow oranges, lemons, milling wheat, chick peas, kidneys beans etc. etc. in this country. We could be self sufficient in food. It would be like the 1950s.....

Err.... referendum was on the 23rd June IIRC. Food sold in shops up to 30th June would have been supplied on contracts based on pre-Brexit currency levels. Any inflation from the low pound will take months to filter through.

Looking at the scale, this appears to have fallen only ~%10.... bit of a misleading graph.

According to the land registry Devon property prices have risen 13.8% between July 2013 and July 2016. This is one of the most accurate indices for the region, for reasons of both methodology and source data.

Spot on. The problem with the Scottish indices in general is that, as you say, they do not take account the mix of properties being sold.

we haven't had an HPC yet...., isn't that the point?

Thanks for flagging this up. I don't have time for the full report but I have just read the executive summary. There are some really interesting graphs in it, and the commentary is frequently quite disturbing. "Challenges to the outlook for financial stability The FPC judges that the current outlook for financial stability is challenging. It is monitoring closely the risks of...... Adjustments in commercial real estate markets tightening credit conditions. Any adjustment in CRE markets could potentially be amplified by the behaviour of leveraged investors and investors in open-ended commercial property funds. Although they have a range of measures to manage stressed levels of redemptions, these open-ended funds could be forced to sell illiquid assets to meet redemptions if conditions persist beyond funds’ notice periods. Any such amplification of market adjustments could affect economic activity by reducing the ability of companies that use commercial real estate as collateral to access finance." Which seems pretty close to what has happened with Standard Life's REIT

Mark carney will be speaking in a few minutes. All three?!

Well, abandoning deficit targets, whilst cutting Capital Gains Tax and corporation tax, is perhaps not the most obvious way of doing this.

Lovely article. Unfortunately we haven't had enough of a run on sterling to force an interest rate rise, but it's early days yet.

My spermy friend - could you find another adjective for the BBC? It's becoming rather predictable.

For you, maybe, for me with a family spread out across Scotland and England the probable loss of the union is a very high price.

Its all a bit unexpected. Perhaps nobody wants to be on the hook for what comes next. Somebody described Gove's face on securing the Brexit vote as looking like "someone who comes down from an acid trip and discovers they've killed their best friend". Apologies if this has already been posted.

Reposting from an earlier thread... I wonder if Johnson withdrew because he thought he couldn't win or because he knows the sh*tstorm which the country is now entering.

My bad, only just seen the news. I wonder if he withdrew because he thought he couldn't win or because he knows the sh*tstorm which the country is now entering.