Conquistador

Oops did not see main thread. BBC bear food. http://www.bbc.co.uk/news/business-44202542

The Tenant Fees Bill is having its second reading in the House of Commons this afternoon. Might be interesting to watch.

https://www.rics.org/Global/WEB_March_2018_RICS_UK_Residential_Market_Survey_110418_mb.pdf RICS survey reflecting London woes: falling prices, low sales volumes.

SDLT abolished for FTB purchases under £300K

Is he working up to the big-reveal on housing?

Yes, wasn't sure why given that opposition support it?

Today's ONS stats reveal volumes sold in London were the lowest on record for the month of July, even lower than July 2008. Some hefty falls in year-on-year volumes for London boroughs (e.g., Southwark down 50%). Caveat: figures do lag so volumes for this year will increase a little.

"Unusually quiet with negative sentiment continuing. Time to buckle up, unless sales pickup pace this train driver may stall her engine. Not confident at all." One commentator from East London.

Update after July's ONS/LR figures. The median London borough is treading water, but the number that have fallen in nominal terms is not large. Overall London is +2.8% year-on-year. Local authority / Month of peak / % fall from peak to July 2017 (year-on-year % change) City of London / Jul 2016 / -18.4% (-18.4%) City of Westminster / Feb 2017 / -7.3% (-2.5%) Brent / Oct 2016 / -3.3% (-1.2%) Hounslow / Apr 2017 / -2.9% (+0.0) Waltham Forest / Mar 2017 / -1.9% (+4.1%) Newham / Sep 2016 / -1.8% (+0.5%) Hackney / Mar 2017 / -1.1% (+9.3%) Barnet / Mar 2017 / -0.9% (+1.9%) Tower Hamlets / Mar 2016 / -0.2% (+5.6%) peaked? - Enfield, Hammersmith and Fulham, Harrow, Kensington & Chelsea, Merton, Southwark rising - Barking & Dagenham, Bexley, Bromley, Croydon, Ealing, Greenwich, Haringey, Havering, Hililngdon, Islington, Kingston-upon-Thames, Lambeth, Lewisham, Redbridge, Richmond-on-Thames, Sutton, Wandsworth

Heard this - worth a listen. One working group suggested a govt-imposed limit to HPI but this was pooh-poohed by David Willetts as too state interventionist. I guess Help to Buy isn't?!

Agree about the lack of diversity. The average age of Topsham residents must be north of 55 and the pubs are full of the affluent retired yabbering about their yacht. A staunchly Conservative place (with a Conservative club). I wouldn't fit in. Different world from Exeter altogether.

Exeter is bubbling. An unhealthy +11% HPI in the city last year (ONS/LR) although transaction levels look to be down about 20%. The rest of Devon (including Plymouth) hasn't increased much over the previous peak.

Well yes, I think it was 20.

Update after June's ONS/LR figures. +2.9% yearly change (all boroughs). Half of boroughs are falling over, half still edging up. Local authority / Month of peak / % fall from peak (yearly change) City of London / Jul 2016 / -10.2% (-20.3%) [very low volumes] Waltham Forest / Mar 2017 / -5.1% (+2.8%) Newham / Sep 2016 / -4.5% (-1.3%) Hackney / Mar 2017 / -3.3% (+10.0%) Greenwich / Jun 2016 / -3.1% (-3.1%) Brent / Oct 2016 / -3.0% (-0.9%) City of Westminster / Feb 2017 / -2.6% (+2.7%) Barnet / Mar 2017 / -2.1% (-0.2%) Hammersmith and Fulham / Apr 2017 / -1.9% (-0.3%) Islington / Aug 2016 / -1.8% (+2.0%) Haringey / Feb 2017 / -1.7% (+5.0%) Redbridge / Jan 2017 / -1.2% (+4.3%) Richmond-on-Thames / Jul 2016 / -0.6% (+2.9%) Lambeth / Sep 2016 / -0.3% (+3.9%) Ealing / Feb 2017 / -0.3% (+2.5%) Enfield, Hounslow, Kensington & Chelsea, Lewisham, Merton - peaked? Barking & Dagenham, Bexley, Bromley, Croydon, Harrow, Havering, Hillingdon, Kingston upon Thames, Southwark, Sutton, Tower Hamlets, Wandsworth - still rising

+3.0% (+5.0% in all of England).