Prices now slightly less over inflated

Zero Hedge: London House Prices Fall At Fastest Rate Since Height Of Financial Crisis

- London house prices fall at the fastest annual rate since height of the financial crisis - London house prices fall in 5th month in row, worst falls since 2009 - London rents dropped at the fastest rate in eight years - ONS - Brexit, London property slump put brake on UK house price growth - Consumer spending declined in July as inflation increased

Posted by khards @ 04:14 PM 2 Comments

Tuesday, Aug 7, 2018

Corbyn or HPC ?

Politics Home: Tory minister says build houses on greenbelt or risk Jeremy Corbyn as Prime Minister

"Chief Secretary to the Treasury Liz Truss blasted “nimbys in Britain” and called for a major overhaul of UK planning laws. But she was attacked by a Conservative colleague who said the party would face an electoral “catastrophe” if it fails to protect the greenbelt. Theresa May has vowed to fix the broken housing market." Good job we have a strong Prime Minister on the case then.

Posted by quiet guy @ 06:33 PM 2 Comments

Lies, damned lies, and statistics

Telegraph: Why you shouldn't pay attention to house price indices

"Pryor dismisses some indices entirely, including one from the Royal Institution of Chartered Surveyors (“the views of 250 people and what their guts tell them”) and those produced by mortgage lenders Halifax and Nationwide (“they’re just kindling”)."

Posted by wdbeast @ 12:24 PM 1 Comments

Friday, Aug 3, 2018

Fergie:

Kent Online: Landlord Fergus Wilson hikes rent within minutes of interest rate rise

Everyone's favorite Toryshire parasite does it again. A 0.25% base rate increase = 3.3% increase on a £1500/pcm rental. And as you'd expect the comments are excellent.

Posted by landofconfusion @ 02:25 PM 8 Comments

Interest rate rise not tightening

BBC: Bank of England raises UK interest rates

I am pretty sure that the original plan was to retire QE first before raising rates, as otherwise it might appear that the BoE has printed money and to cover inflation raised borrowing costs for everybody else. That aside, usually for each debtor there is a creditor, in the case of QE (10 thousand apiece), there is no debtor. The money has been printed, any interest on gilts being a BoE profit is promptly remitted back to the UK government. So who is the payer of the additional interest on the fresh deposits created by QE? It seems nobody. So its hard to see how rates on savings can increase. So the wonderful BoE has increased borrowing costs but without increasing saving rates, the stick but not the carrot.

Posted by stillthinking @ 12:39 PM 1 Comments

Thursday, Jul 26, 2018

Warning of the risks of buy to let incorporation

City Tax Direct: CONSIDERATIONS FOR BUY TO LET INCORPORATION

A detailed look at the issues buy to let landlords need to consider when contemplating moving a rental property business into a limited company structure.

Posted by andrew pelis @ 03:30 PM 0 Comments

Wednesday, Jul 25, 2018

Borrowing subsidy

Evening Standard: Playing too safe on pensions is costing companies

Unusually excellent article from london standard. Points out that returns on stocks are 7% but for gilts slightly negative in real terms, but that pensions are forced to calculate on known returns. There are no guaranteed equity returns so they are forced into gilts. My view is that pension funds are forced to provide free loans to government. Anyway, -if- pensioners every manage to do anything about being fleeced (which they have known about for ages without doing anything, in fact legislation to force lending to gov. is worse) then borrowing costs would be going up, and a lot. What is also interesting is that you might think stocks have gone up a lot because of QE, but they would have gone even further with pension purchases.

Posted by stillthinking @ 12:27 PM 4 Comments

Monday, Jul 23, 2018

Blamed on surge in sellers

Guardian: UK house price slump

A surge in homeowners putting their property on the market – just as buyers melt away in summer – is depressing house prices, according to the biggest property website, Rightmove.

Posted by peter_2008 @ 08:34 PM 3 Comments

1995 all over again ?

BBC: Rise in lenders valuing homes below sale price

Actually I have just spotted a massive error in their title. The sale price is determined at completion. Any figures before then are just indicative. The comments are interesting many mirroring what many people hear have been saying for years. On a personal note I am guessing this is what happened to me in 1995 when my "Buyers" who had offered £52K couldn't get a big enough mortgage. That was for a house that I had paid £65K for in 1989 (but with only a £40K mortgage).

Posted by tenyearstogetmymoneyback @ 06:50 PM 0 Comments

Friday, Jul 20, 2018

Extraordinary, councils asking landowners to pay for services!

Daily Mail / This is Money: A buy-to-let register by the back door? Councils are introducing landlord licence schemes costing up to £1,000

If a tenant doesn't pay their council tax, the rubbish still gets collected, the roads still get maintained and lit, courts and police will enforce the landlord's property rights, etc. The landlord gets all of this for free, it's only fair that councils attempt to get some revenue from landlords. Much simpler solution is to just make council tax payable by the LL. Viola - bad debt eliminated, collection departments can go down to a fraction of their size as there won't be nearly as many changes on the account payer, etc. And the ridiculous 25% reward for living alone could be scrapped.

Posted by mombers @ 12:52 PM 14 Comments

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