January 2014 Archive

Thursday, January 30, 2014

Please Mr Postman could you spare £20k?

Evening Standard: Postcode war as Hounslow residents fight for Richmond address

Whitton resident Jim Lindsay, 34, said: “The postcode change is nothing to do with snobbery, it’s a practicality thing. “I don’t know anyone who would turn down the offer of a Richmond postcode instead of a Hounslow one, if it would suddenly increase the cost of their home by £20,000 or more. Snob or no snob, no one would say no to that.” Well, he obviously doesn't know anyone who doesn't own a house!

Posted by mombers @ 09:46 PM 2 Comments

This bubble needs to burst

Guardian: What does it tell us about the housing market that my flat earns so much more than I do?

Realising that my two-bedroom flat now earns more than I do was a bitter-sweet moment. A neighbour regaled me with the news that a standard apartment in our south London street had just changed hands for an astonishing £700,000. If true, that means my flat in Balham has put on £100,000 in the past year. It went up by a similar amount the year before, and the year prior to that. As a freelance hack who takes time out to write books, it is no great shock that my annual income is not keeping pace with the value of my London home, which I bought over 10 years ago. But most of my neighbours, who work dawn to dusk five days a week, are also struggling to make anywhere near that amount.

Posted by housesearch @ 09:34 PM 3 Comments

Awesome bank depository conversion for sale

Planet Property: Awesome bank depository conversion for sale

Converted Victorian bank depository (!) once owned by "an artist of international renown and one of the UK’s pre-eminent show-business agencies/film producers"€ (it says here). If you want to pay close to £4m to live in Shoreditch, that is .....

Posted by the planet @ 03:55 PM 0 Comments

Is deflation still inevitable?

Telegraph: World risks deflationary shock as BRICS puncture credit bubbles

"Half the world economy is one accident away from a deflation trap. The International Monetary Fund says the probability may now be as high as 20pc. It is a remarkable state of affairs that the G2 monetary superpowers - the US and China - should both be tightening into such a 20pc risk, though no doubt they have concluded that asset bubbles are becoming an even bigger danger."

Posted by wdbeast @ 01:33 PM 6 Comments

Best buy to let mortgage rates

TurnKey Landlords: Best buy to let mortgage rates

Some hand-picked buy to let mortgage rates.

Posted by amelia @ 12:35 PM 0 Comments

Refurbishment BTL mortgage

TurnKey Landlords: NEW for 2014 -€“ Refurbishment Buy to Let Mortgage

A brand new Buy to Let product has been launched into the marketplace to help you if you want to buy a property in need of refurbishment.

Posted by amelia @ 12:23 PM 1 Comments

Wednesday, January 29, 2014

Slowing surge is also a bang

Guardian: UK house prices start year with a bang, fuelled by first-time buyers

"Annual house price inflation now 8.8% as Nationwide and Land Registry record rises..", blah, blah, yadda, etc

Posted by rumble @ 09:52 PM 0 Comments

Nationwide +0.7% MoM

Reuters: UK house price surge slows in January

British house prices rose roughly in line with expectations, up 0.7% this month compared with a 1.4 percent increase in December, which was the biggest single-month increase since August 2009.

Posted by alan @ 05:57 PM 0 Comments

75% LTV BTL mortgages

TurnKey Landlords: The best buy to let mortgages at 75% LT

A selection of 75% LTV buy to let mortgages hand-picked by the Head of Sales. Many successful landlords choose to take out 75% LTV buy to let mortgages because it feels safer. With a deposit of at least 25% you have a fairly robust buffer-zone in case the value of the property sinks.

Posted by amelia @ 04:55 PM 7 Comments

Finding a mortgage post-MMR

TurnKey Mortgages: Find a mortgage in 2014

Seven tips to help find a mortgage following the onset of new lending regulations later this year.

Posted by ben @ 04:18 PM 0 Comments

Longer loans on the same pile of poorly insulated deteriorating bricks.

Citywire.co.uk: The rise of the 35-year mortgage

Potential homeowners are being warned to think twice about how much they can afford to spend on a mortgage. But extending a mortgage term above the traditional 25 years could be part of the solution for stretched incomes. ‘The average term of our first-time buyer clients is edging up to 27 years but what happens is you get a spike at 25 years, and another major spike at 30 and 35 years.’ Ray Boulger of mortgage broker John Charcol said it was unsurprising that the traditional 25-year mortgage was being extended to 30 or more years.

Posted by khards @ 03:25 PM 5 Comments

The Agri-desert revealed

Inside Housing: The green belt myth

Does anyone mythologise the countryside as much as the English - a term I use deliberately? It seems that scarcely a day goes by without some national treasure penning purple prose in the broadsheets about the delights of rolling fields while condemning the threat posed by concrete-wielding house builders. The unnaturalness of much of the English countryside can be confirmed by one simple fact: we have less woodland than any other country in Europe except Ireland. Fly into the equally densely populated western half of Germany, and look down, and the comparison with our denuded landscape is startling. Our idea of a pastoral idyll, a field full of sheep, cows or wheat, is no more ‘natural’ or species-rich than a suburban cul-de-sac.

Posted by khards @ 11:01 AM 1 Comments

Homes or wildlife? (The flooding debate)

Mail: It's the deluded greens who've left my Somerset neighbours 10ft under water

"In the past month, more than 30 square miles of our county has been drowned in a vast expanse of water". "The Environment Agency says it cannot afford the £4 million it would need to dredge the rivers, while on the Somerset coast a few miles away it is happy to see £31 million spent on dismantling flood defences, so the sea can turn hundreds of acres of prime farmland into a bird sanctuary".

Posted by alan @ 08:25 AM 3 Comments

Tuesday, January 28, 2014

Teapot shaped property for sale for £10,000

Planet Property: Teapot shaped property for sale for £10,000

No we haven't been at the magic mushrooms - this is for real. Described by the agent as a "unique multi-functional two-storey space". Described by us as a big green timber teapot....

Posted by the planet @ 12:10 PM 0 Comments

Seven awesome Span houses

Planet Property: Seven awesome Span houses

Designed by Eric Lyons and Span, these acclaimed developments successfully combined modernism with the English garden suburb ... sylish, low-rise, surrounded by green space, but also modern ... why can't we build developments like this today?

Posted by the planet @ 11:55 AM 0 Comments

Monday, January 27, 2014

Surprise, surprise, banks price for risk!

Torygraph: Santander: 'You can't afford our cheaper mortgages’

Outrage that the cheapest mortgages are not available to people who are riskier bets. What do they want, banks to only lend money to existing owners? Because the more they lend to risky borrowers, the less they have to lend to grown ups

Posted by mombers @ 01:22 PM 15 Comments

Worldwide rush for assets as money bubble grows

Telegraph: Global safe haven for property 'creating ghost towns in London’

"Swaths of the capital risk becoming “ghost towns” because overseas investors buy properties and leave them vacant, according to the European boss of the world’s second largest estate agent" (anecdotal - meanwhile, immigrant families living in lofts and cellars "under the radar" in Newham, London).

Posted by alan @ 10:03 AM 1 Comments

The coming glut of oil isn't necessarily deflationary

Mises.org: Why Central Bankers Should Not Tinker with Aggregate Prices

Article explains from a monetarist view that inflation and deflation are a product of changes in relative prices relative to the money supply, and gives the example of a relatively high inflation rate due to a relative price change while quantity of money has not changed. We know, that in the UK relative changes in pricing, in our case, appear as deflation and have been countered by central bank providing liquidity. The article doesn't make the point, but it's why I post this, that the glut of cheap oil (cheap oil is suggested by Ambrose Pritchard to be a danger..) will not necessarily appear as deflation, because prices are relative. Other prices will increase. How this appears statistically you can't tell in advance, this cheap oil may cause dramatic increases in CPI/RPI. Nobody knows.

Posted by stillthinking @ 09:40 AM 4 Comments

Saturday, January 25, 2014

Here it comes Armageddon

Acknowledge: HSBC Bank on Verge of Collapse: Second Major Banking Crash Imminent

Concerns about an imminent bank crash were further fuelled today at news that HSBC are restricting the amount of cash that customers can withdraw from their own bank accounts. Customers were told that without proof of the intended use of their own money, HSBC would refuse to release it. This, and other worrying signs point to a possible financial crash in the near future. HSBC is scrambling to manage a seemingly terminal liquidity crisis (a lack of hard cash) that could see the bank become the next Northern Rock – and trigger a bank crash. The analyst’s advice is for shareholders to sell HSBC investments, and customers to move their accounts elsewhere before the crash.

Posted by khards @ 03:00 PM 14 Comments

Friday, January 24, 2014

Wheels are coming off says Axel

Telegraph: Crippled eurozone to face fresh debt crisis this year

Ex-Bundesbank head Axel Weber expects fresh market attacks on eurozone this year and economist Kenneth Rogoff says the euro was a "giant historic mistake" - Crash coming?

Posted by alan @ 12:12 PM 9 Comments

Ultimate billionaire's man-cave drops price by $2.1million

Planet Property: Ultimate billionaire's man-cave drops price by $2.1million

A five-star fishing and diving vessel, billed as the 'ultimate billionaire's man-cave', has slashed its asking price by $2.1 million ... now the 385ft x 85ft five-storey floating monstrosity is at a bargain basement $9.9m .... so, y'know. get in there quick before the other billionaries beat you to it ...

Posted by the planet @ 11:40 AM 0 Comments

Vineyard prices hold up as Chinese investors eye France

Planet Property: Vineyard prices hold up as Chinese investors eye France

The price of vineyards increased by 6.8% in the year to June 2013, thanks in part to growing interest from Chinese buyers one agent says Chiense clients willing to spend up to 50 million euros.

Posted by the planet @ 11:06 AM 0 Comments

Bit late for that...

Telegraph: BoE could raise mortgage costs for banks to stop bubble

Stop bubble? Big difference between "Stop bubble forming" and "Stope bubble bursting". They obviously mean the latter. Title should actually be BoE could prevent non-homeowners entering the market in order to keep costs down for those who already have a house.

Posted by timmy t @ 09:24 AM 6 Comments

Thursday, January 23, 2014

Well that didn't take long

Financial Times: Carney signals scrapping of forward guidance target

The Bank of England Governer, Mark Carney, has reacted to a sharp drop in unemployment by saying that unemployment alone would no longer guide policy. Considering that a General Election is on the horizon, this shouldn't be seen as surprising but the speed and blatantcy of the change is a little disturbing. The gloves are off folks. We are going to have a 'feel good' experience for the next election nomatter what the rise in the cost of putting a roof over your head.

Posted by quiet guy @ 08:22 PM 19 Comments

'Frantic' Chinese spent £3.5bn on UK property in 2013

Planet Property: 'Frantic' Chinese spent £3.5bn on UK property in 2013

Chinese investors forked out a whopping £3.5 bn on UK property in 2013, a figure that is expected to rise. One agent says the liberalisation of the Chinese currency has had a significant impact and "investors seem '€˜frantic'€™ to buy.

Posted by the planet @ 01:16 PM 2 Comments

Crashy, Crashy :-)

LoseMoneyWeekly: Here’s why Mark Carney might prick London’s property bubble this year

Carney must be feeling a bit uncomfortable. When he agreed to take over as bank governor, Britain was still facing headlines about a ‘triple-dip recession’. Now everyone’s talking about a boom. Unemployment is plunging. When Carney said that he’d think about raising interest rates if unemployment hit 7%, he thought he’d effectively parked the issue for two years. But we’re now at 7.1%, and quite possibly only months or even weeks from his target. Carney has hardly embraced surging house prices with open arms in any case. In December, he warned that there was the “potential” for another crash. While it’s easy to dismiss such words as rhetoric, he has made some changes – such as preventing the Funding for Lending scheme from being used to fund mortgages.

Posted by khards @ 10:12 AM 1 Comments

Wednesday, January 22, 2014

Giovernment debt steadily increasing at 12,000,000,000 per month!

Zerohedge: Is Britain's Recovery Too Good To Be True?

There was more good news for the UK economy this morning; the unemployment rate dropped to 7.1% during the three months to December - the biggest ever quarterly increase in employment. This follows the IMF this week raising its (admittedkly terrible track record-based) forecast for the UK economy; it now expects it to grow 2.4% this year which is faster than any other major European economy. Nick Beecroft, Chairman of Saxo Capital Markets UK, is “optimistic” about Britain’s recovery, but has three concerns... 1. The recovery is too dependent on consumer spending (borrowing). 2. The pound is too strong. 3. Bank of England could lose its credibility. - If carney wants to keep rates lower but keep the threshold at 7 percent, people may start to ask what value it actually has.

Posted by khards @ 06:31 PM 1 Comments

Help to Buy mortgages aren’t always the best bet

Planet Property: Help to Buy mortgages aren'€™t always the best bet

Mortgages funded by the government's Help to Buy Scheme aren't always the best deals, says Which?

Posted by the planet @ 04:01 PM 0 Comments

Fitch worry about Help to Buy risks

Planet Property: Fitch worry about Help to Buy risks

While the UK housing market has recovered well, ratings agency Fitch warns of a possible Help to Buy bubble ...

Posted by the planet @ 03:57 PM 0 Comments

New York is officially affordable (compared to London)

Quartz: New York is officially affordable (compared to London)

Real estate prices in the London are decoupling radically from income levels in the city, according to analysts from Fitch Ratings. So is this a bubble that'€™s getting ready to burst? Not any time soon, Fitch analysts say.

Posted by pbahra @ 10:53 AM 0 Comments

Expect a statement from Carney ASAP

BBC News: Unemployment rate drops to 7.1%

The UK unemployment rate has dropped to 7.1%, the Office for National Statistics has said. The number of people out of work fell by 167,000 to 2.32 million in the three months to November.

Posted by reticent @ 09:46 AM 15 Comments


Mirror: Garden Cities

There is some talk at the moment about building garden cities and this makes me think that for the humanitarian catastrophes due to drought in Africa, they should be building desalination plants. Ignoring the point that they couldn't build desalination plants because the country was not capable of doing so. The UK in the same way is not capable of whistling up garden cities. There aren't enough builders, aside from the looming mass retirement of construction workers, and I don't see that there is enough finance either. Cities need railway stations, schools, hospitals, roads, not just houses. This is pure fantasy land. Milton Keynes was an ongoing project for a quarter of a century.

Posted by stillthinking @ 02:00 AM 2 Comments

Tuesday, January 21, 2014

Where will we live?

LRB: Where will we live?

How the housing crisis evolved, RTB, government meddling and incompetence lead to an cascading disaster over the last 4 decades. Very thorough and well written piece. Is this issue slowly gaining traction in the media, are ordinary people starting to realise the scale of the bind the country has created for itself?

Posted by peppersauce @ 07:01 PM 5 Comments

Independent Mayfair Estate Agents Wetherell outperform large corporate agencies

PR Web: Wetherell Estate Agents, top seller in Mayfair for third year running

For the third year running Wetherell estate agents ranked top for sales in Mayfair in 2013, following analysis conducted by Lonres, the London property database, a huge achievement for the for the independent agents.

Posted by nick garner @ 05:53 PM 0 Comments

The shame of living at home.......

BBC: More than 25% of young people share parents' homes

Why though? Housing shortage or buy to let glut or idequate regulation toward foreign investment or overly generous benefit system or inadequate tax system or Immigration (The sheeple's favourite) or the EU (The sheeple's second favorite target - thought i'd pop that one in there)

Posted by tom101 @ 05:43 PM 1 Comments

Little left for inheritance.

RT: 'Can’t afford to die': British families on low incomes struggle with 'funeral poverty'

Over 100,000 people in the UK will hardly manage to pay for a funeral this year. With the average cost of dying having risen by 7.1 percent, the poor simply cannot afford to pay the costs of funerals, a survey has found. The average cost of dying, including funeral, burial or cremation and state administration, currently stands at £7,622 ($12,528), a rise of 7.1 percent in the past year, according to the latest study at the University of Bath's Institute for Policy Research. "With growing funeral costs, quite simply growing numbers of people might find they can’t afford to die," Chief Executive of the International Longevity Centre-UK, Baroness Sally Greengross, stated on the University's website.

Posted by khards @ 12:52 PM 0 Comments

Borrowing costs set to fall?

Telegraph: IMF likely to upgrade Britain's growth forecast

The International Monetary Fund will on Tuesday upgrade Britain's growth forecast for the second time in just three months, cementing its status as one of the fastest growing major economies. The IMF's expected 2014 growth upgrade to 2.4pc, from a forecast of 1.9pc in October, is likely to be the largest among the advanced economies, and follows a similar upward revision three months ago, when it raised its prediction from 1.5pc in April 2013. The article notes that IMF forecasts of growth tend to be conservative, so the article suggests further upgrades. Looks like Sterling may rise yet further?

Posted by libertas @ 01:03 AM 3 Comments

Monday, January 20, 2014

Vote Labour, crash the economy™

Western Morning News: Labour to empower self-builders to tackle housing shortages in West

Councils will be told to earmark more small sites for development in their planning blueprints and will be asked to set up waiting lists for those wanting to register their interest in a custom-build, co-operative build or community land trust plot. The reforms are part of a scheme to meet the target of 200,000 new homes a year by 2020 Luke Pollard, Labour's parliamentary candidate for Plymouth Sutton and Devonport said: "Owning a secure and affordable home should be within reach for everyone. Interesting to note Labour have a majority at the moment + those self builds in the photo which have no parking or garden must be holiday lets?

Posted by khards @ 03:36 PM 0 Comments

Boom in speedflatmating as demand for rooms soars

Planet Property: Boom in speedflatmating as demand for rooms soars

Welcome to the wonderful world of renting in London ... speedflatmating. Want a room to rent? Try your best not to look like a serial killer ....

Posted by the planet @ 02:42 PM 0 Comments

Sunday, January 19, 2014

Government "Own Home" Scheme, Predecessor to Help to Buy & Sell Collapses

Telegraph: Co-operative Bank forces mortgage borrowers on to high rates

The title here hides the real story. The people being forced into higher rates initially purchased under a government scheme that pushed folks who could not afford a house into buying. The scheme is now over, house prices fell, and no private lender will take them on. They are, it seems, forced onto standard variable rates, paying double now, or forced to sell. Meanwhile, if government had kept out of the way, they could have saved more for cheaper houses earning higher interest on their savings, earning more money, with more jobs available if we had got tax cuts instead of these IDIOTIC MARXIST market manipulations.

Posted by libertas @ 11:26 PM 24 Comments

Basal reserve ratio set to 3% - the same as in 2007

Telegraph: The 'too big to fail' problem just got worse

So what just happened in Basel? Well, far from imposing a leverage ratio of 5pc, 10pc or even 15pc, the committee continues to propose a leverage ratio of just 3pc – that’s right, only slightly above that displayed by the UK banking industry just before the last collapse.

Posted by doahh @ 11:35 AM 0 Comments

Saturday, January 18, 2014

You don't say - really???

Telegraph: Plea to scrap Help to Buy in London as prices become 'absurd'

I love the continued warnings that if the government aren't careful this could turn into a bubble. Now L&G are entering the Mortgage Equity Release arena, retail sales will rocket and we can all have lovely holidays and holiday homes etc. etc all helped by this NON - BUBBLE 😉😉

Posted by bystander @ 11:34 PM 7 Comments

True or False - You Choose

Independent: Doubt cast on official retail sales figures

Yesterday, the Office for National Statistics reported reported that retail sales rose at their fastest rate in nine years in December. According to the ONS, retail sales grew by 2.6 per cent month-on-month in December, which was well ahead of City expectations of 0.4 per cent. Commentators are "extremely sceptical" of the figures, pointing out that they did not tally with mixed reports from individual firms and last week's BRC survey. Elsewhere the ONS figures boosted the FTSE to an 8 month high offsetting Shells friday profit warning and increasing speculation of an early dash to the polls as the ONS figures bolstered hopes that the overall economy continued to grow strongly in the final quarter of 2013.

Posted by enuii @ 01:46 PM 1 Comments

Friday, January 17, 2014

Are House Price Indices rigged too?

Guardian: HSBC and Citigroup suspend foreign exchange traders amid rigging probe

"Regulators from the United States arrived in London this week, stepping up an investigation in which they are working with Britain's financial watchdog, the Financial Conduct Authority, to determine whether traders at some of the world's biggest banks colluded to manipulate the $5.3 trillion-a-day (£3.2tn) foreign exchange market". is any index created in london reliable? "Tonight Deutsche Bank has announced that they will withdraw from gold and silver fixing amid an investigation by German regulators into suspected manipulation of precious metal prices by banks" say Reuters. You couldn't make it up, could you? Well.... COULD YOU??

Posted by alan @ 11:12 PM 2 Comments

Start your own bank and do well by doing good

Ellen Brown: From austerity to abundance

California is paying payday-lender rates on its bonds, going into more debt and paying huge rates of interest on public projects. It could use its asset and deposit bases to start its own bank and get out from under the jackboot of the big banks. And the state with a state bank avoided the housing sub-prime crisis. So the writer is running for Cal State Treasurer on this platform. Cable would probably tell us it's far to complicated to do anything like this here.

Posted by icarus @ 06:25 PM 6 Comments

City of London as a Sink Estate.

RT: Shrinkflation

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the moral sink estate that is the City of London, where dealers sell ‘debt crack’ on street corners and many old ladies have their pensions stolen. They also discuss the corruption of the leveraged buyout, whereby whole nations are now stolen using the nation’s own assets and resources as collateral and, with the TPP deal, the globe is about to be taken for a bargain basement price. In the second half, Max interviews investment adviser, Pippa Malmgren, a politics and policy expert who used to be Special Assistant to the President of the United States for Economic Policy on the National Economic Council and former member of the US president's Working Group on Financial Markets. They discuss ‘shrinkflation,’

Posted by khards @ 04:43 PM 1 Comments

Thursday, January 16, 2014

Mortgage applicants to be 'stress tested'

Mail: A mortgage? Only if you can cope with an interest rate rise: Potential buyers being 'stress tested' by lenders in major crackdown

Heard about this from a third party but have struggled to find any coverage in the news other than this but from the 26th of April new 'guidelines' for financial advisers require extensive checks on borrowers’ day-to-day finances and spending and are apparently already being followed by most of the country’s big lenders. Typically, banks and building societies are stress testing on the basis of mortgage rates hitting 7 per cent in the next five years. Some interesting and possibly controversial scenarios are also covered regarding mortgage applicants circumstances and mortgage levels.

Posted by enuii @ 11:01 PM 16 Comments

Gazumping and sharp practice on rise, says law firm

Planet Property: Gazumping and sharp practice on rise, says law firm

The booming property market in London and the South East has brought with it the unwelcome return of 'pressure practices', says property law firm

Posted by the planet @ 12:26 PM 0 Comments

Modernist ex-council house for sale: £1,195,000

Planet Property: Modernist ex-council house for sale: £1,195,000

A story of London's property history - check out this four-bedroom modernist house designed for Haringey Council by the architect Harley Sherlock of Andrews, Emerson, Sherlock & Keable. It's now worth over a million

Posted by the planet @ 12:00 PM 0 Comments

To help prevent a bubble ! My sides are splitting, stop it!

Telegraph: BoE considers return of 30-year fixed rate mortgage to fight housing bubble

Mark Carney, the Bank's Governor, said last November that the FPC would consider recommending a range of tools to prevent the housing market from overheating, including a cap on loan-to value (LTV) and loan-to-income (LTI) ratios.

Posted by happy mondays @ 10:19 AM 7 Comments

Too late, mate.

Sky news: House Prices 'Risk Becoming Unsustainable'

"A report warns of the consequences of the growing gulf between homes for sale and demand in some areas of the UK." More propaganda....buy now because their is so much demand....not round our way there isn't.

Posted by thecountofnowhere @ 07:58 AM 0 Comments

Wednesday, January 15, 2014

Le Corbusier meets the English terrace: rare 50s modernist house for sale

Planet Property: Le Corbusier meets the English terrace: rare 50s modernist house for sale

A rare, and beautiful, modernist terraced house from the 1950s by the architects Howell & Amis ... but if you had £3m would you spend it on this?!

Posted by the planet @ 11:25 AM 2 Comments

Not Another Housing Scam

Reuters: FBI suspects front running of Fannie, Freddie in swaps market

"Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac, hurting the US-owned mortgage giants in the process, according to an FBI intelligence bulletin". There won't be a rule change to correct this because the crooks write the rules, just like the UK.

Posted by alan @ 09:05 AM 1 Comments

Tuesday, January 14, 2014

Douglas Carswell talking sense again, it'll never catch on though

The Speccy: A credit boom before each bust

'Here is a graph that shows the four economic downturns Britain has been through (red lines) over the past forty years. What I find strking is that each downturn was preceded by the same thing: a surge in the growth of money (blue line). In other words, the bust followed an unsustainable credit-induced boom.'

Posted by montesquieu @ 02:56 PM 6 Comments

Rare Hackney Mission Church for sale - oldest surviving “tin tabernacle” in England.

Planet Property: Rare Hackney Mission Church for sale - oldest surviving “tin tabernacle” in England.

Hackney's remarkable timber and iron Mission Church on Shrubland Road is for sale. Described by English Heritage as "a rare and complete example of a temporary iron mission church", it was built in 1858.

Posted by the planet @ 12:07 PM 0 Comments

What no letter?

BBC News: UK inflation falls to 2% target rate in December

The UK's inflation rate, as measured by the Consumer Prices Index, fell to 2% in December, down from 2.1% the month before. It is the first time inflation has been at or below the government-set target of 2% since November 2009. I'm sure you've all noticed how your weekly shop seems cheap...

Posted by timmy t @ 11:51 AM 5 Comments

Stamp Duty offer with TSB, but it's not all it seems

HowToHomeBuy.co.uk: Stamp Duty Paid - Yes Really!

Imagine our excitement when TSB put out a statement offering to pay 1% Stamp Duty with certain mortgage products! In theory, the offer looks good, but interest rates on the applicable mortgage products are higher than a lot of other lenders...

Posted by amie gramlick @ 11:45 AM 0 Comments

London prices driven up by political turmoil abroad

Planet Property: London prices driven up by political turmoil abroad

Political turmoil overseas has a direct impact on London's house prices as investors look for a safe haven, says new research

Posted by the planet @ 10:55 AM 0 Comments

Affordable houses - BUT the Middle Class want Price Rises!

Telegraph: Ed Miliband ~ I can save the middle class

"Foundations of middle-class life – well-paid jobs, strong pensions, housing ladder and university education – have all been “undermined”, says Labour leader Ed Miliband" + Video. It's Milliband's pitch for the heart of Britain. What do you think?

Posted by alan @ 09:11 AM 1 Comments

Monday, January 13, 2014


Market Oracle: UK House Prices Forecast 2014 to 2018 - Election Economic Boom

"George Osborne has finally succeeded in sparking a debt fuelled housing market led economic recovery that looks set to gain momentum all the way into the May 2015 General Election. This video is based on recent in-depth analysis and detailed concluding multi-year trend forecast for UK house prices and the implications of in terms of the outcome of the next General Election."

Posted by libertas @ 10:37 PM 0 Comments

Rate Rise? That is oh, so 1980's

Zero Hedge: US (Less than 30 day) Bond rates go NEGATIVE

Face it, technology is causing major dislocation and deflation. Prices are collapsing and people no longer need to invest in capital to expand their business, they just get cheap online services, robots and computer programmes. Prices are collapsing across the board as a result, and government is responding by slashing rates, and the market is following. Demand for credit is collapsing as a result of increased productivity and supply of labour and materials. Clearly, this is the source of the new economic growth. It suggests that mortgage rates will continue to fall, and like the previous article, if UK follows USA and Europe, rates will fall, though Sterling may well strengthen simply if they do not fall here as much as elsewhere. Our bond market is very liquid, so will attract capital.

Posted by libertas @ 10:02 PM 0 Comments

More than a third of London's Right to Buy homes owned by landlords

Planet Property: More than a third of London's Right to Buy homes owned by landlords

36% of homes (52,000 properties) sold through Right to Buy in London are now in the hands by private landlords, says a new report ...

Posted by the planet @ 12:12 PM 0 Comments

High rents hammer workers

Planet Property: High rents hammer workers

High rents mean jobseekers who relocate face a financial penalty, says a new report - private tenants who work in England's top cities pay £251 more in their monthly rent than the national average, but they only earn an extra £167 per month after tax.

Posted by the planet @ 11:46 AM 0 Comments

Interesting piece on likelihood of rate rises in 2014

Ft alphaville: E will see about the MPC

Curiously of the different opinions nobody mentions that the BoE could be forced to copy USA interest rate movements. Almost entirely variations on the output gap. My experience personally, for whats its worth, that there isn't a big output gap because of all the different visas that were handed for skills shortages (wage repression) in 2007 which after the crash, resulted in a sudden massive over-glut of workers who are basically out of their speciality for good now. I know this is true for IT, because if you are out of work in IT for over a year, probably you won't get another job because you fell off the horse, and I presume this would hold true for other industries as well. I am not saying thats my opinion from examining graphs, I know its the case.

Posted by stillthinking @ 03:30 AM 1 Comments

Saturday, January 11, 2014

A history of nimbyism

BBC Radio 4 Archives: Houses v Fields

Anne listens to a stinging mid-century polemic against new 'ribbon developments'. And she finds out which writer was so incensed at suburban sprawl that she burned cardboard models of suburbs in her garden. But she also hears interviews with those who had managed to flee the slums and who were enraptured by the fresh air on new estates. One ex-EastEnder is agog simply at the fact that she has running water upstairs.

Posted by tomandlu @ 08:03 AM 0 Comments

Friday, January 10, 2014

It's not just MPs, Banks and EAs, then?

Independent: The corruption of Britain ~ UK’s key institutions infiltrated by criminals

"Secret report shows how organised crime infiltrated judicial system as well as Police with Prison Service and HM Revenue & Customs also compromised".

Posted by alan @ 11:11 PM 0 Comments

2014 is the year to sell your home

Property Buyer Blog: Is 2014 a good year to sell your home?

The housing market seems to be looking good for the foreseeable future and this is starting to affect the sentiment amongst homeowners. They are starting to feel as if 2014 will be a good year in which to sell their homes. The Halifax Housing Market Confidence Tracker has indicated that this is the case and since its inception in 2011, this is the first time this result has been recorded. More than half of the tracked homeowners were confident that 2014 will indeed be the year to sell your home.

Posted by joel desvignes @ 02:42 PM 0 Comments

Interest rates, house prices and financial preference.

Zerohedge: Janet Yellen - The Nation's New Chief Slumlord

An American view of distortions in house prices and ownership caused by the Fed.

Posted by stillthinking @ 03:04 AM 0 Comments

Thursday, January 9, 2014

"A Danger to the EU"

Telegraph: German foreign minister attacks 'brainless Eurosceptics'

When you cede all control to the state, any attempt to claw something back will be treated as "brainless" or "terrorist".

Posted by alan @ 08:02 PM 2 Comments

Help ! we've run out of ammo

BBC: Bank of England gives no further guidance on rates

The Bank of England has given no further guidance on when it might raise interest rates, after deciding to keep them on hold at 0.5% once again. There had been speculation that the Bank might have to refine its threshold for increasing rates. Back in August, governor Mark Carney said unemployment would have to decline to 7% before an interest rate rise would be considered. An improved economy has meant that could happen sooner than expected. The Bank also made no further addition to its £375bn bond-buying scheme known as quantitative easing (QE). Base rates have now been at 0.5% since March 2007.

Posted by jack c @ 12:39 PM 9 Comments

Number of first time buyers increases by 22%

Property Buyer Blog: First-time buyer numbers increase by 22% in 2013

Recent figures have highlighted the fact that the number of first time house buyers in the UK has risen by a whopping 22% in 2013. We’re looking at the largest annual increase that we have seen in the UK for over 10 years. This may be a result of the availability of mortgages nowadays and also the affordability of the house prices may also have had a part to play in the apparent upturn.

Posted by joel desvignes @ 10:20 AM 0 Comments

The year Stamp Duty returns for over 31,000 first time buyers

HowToHomeBuy.co.uk: 2014: Boom Or Bust For First Time Buyers?

HowToHomeBuy has published a report that seeks to highlight the factors that may impede first time buyers in 2014. Will these send buyers back into bust territory, or will it be a year of boom, taking first time buyer numbers back to previous highs?

Posted by amie gramlick @ 07:31 AM 0 Comments

Wednesday, January 8, 2014

House prices fall 0.6% in December

Lloyds: Halifax house price index

House prices down! Time was when this would be up here within minutes of its release. Have all the bears turned bull? Is this a sign of a turn?

Posted by cornishman @ 08:24 PM 18 Comments

No 11 especially for you lot

Moneyweek: Eleven investment predictions for 2014

Predictions, predictions, predictions with one especially for the lovely people at HPC

Posted by frizzers @ 11:32 AM 2 Comments

Land privatisation

Bloomberg: Britons Get Right to Demand Sale of Government Land and Property

You can challenge the government to release land if it's not in use. Which means most of the council buildings are presumably available... A good step forward.

Posted by stillthinking @ 02:52 AM 5 Comments

Tuesday, January 7, 2014

Boris 1 - 0 Nimbys

BBC News: Ministry of Sound tower block plans approved by mayor

Plans to build a block of flats near a central London nightclub have been approved by the mayor Boris Johnson. Developer Oakmayne will build 335 apartments and 65 affordable homes on the Eileen House site in Newington Causeway near the Ministry of Sound. The nightclub in Elephant and Castle had protested against the building as they feared noise complaints could force the venue to closure.

Posted by joshy @ 11:27 PM 1 Comments

Worth a watch.

Max Keiser: [KR546] Keiser Report: UK’s Economics of Extinction

We discuss the Ka-Boom! and Ka-bust! of the economics of extinction in the UK property market as Thatcher’s slow-motion housing timebomb ticks away under the British economy where demand continues to outstrip supply by a factor of two and where one woman being forced out of social housing complains, “I’m sure if they had their way they would kill us. I really believe that.” In the second half, Max interviews Liam Halligan of the Telegraph about austerity, extinction economics, bitcoin and all those towns up North, of which Max can only name three.

Posted by khards @ 06:25 PM 3 Comments

But so many of the others have a mansion tax???

Torygraph: London 'best city for foreign property investment opportunities'

NYC is in second spot, with some council tax equivalent bills running over $100k p.a. Houston is in there too, in the state with the highest property taxes in the US. So of course we can expect London to drop out of this list if council tax rises to any extent... The great thing about being a foreign investor is you avoid all of the pesky taxes like income tax, NI and VAT, and stamp duty and CGT (it's getting harder but still very lucrative given the sums)

Posted by mombers @ 01:08 PM 0 Comments

Tories up in arms over £24 p.a. rise in council tax but happy for stealth taxes to go up much more

Torygraph: Councils planning tax rises despite Government demands

"The increases could lead to average council tax bills in some areas rising by more than £24 a year" My income tax bill alone has gone up by thousands of pounds under the coalition - certainly more than most but I'd like to see the figures on average household tax bills (income tax, NI, VAT, petrol, etc) as well as the much more accurate figure of ALL revenues (i.e. incl corp tax, employer's NI, etc) divided by number of households. MW, I'm sure you can dig this out :-)

Posted by mombers @ 12:58 PM 0 Comments

Cool Mid-Century Modern beach house for sale

Planet Property: Cool Mid-Century Modern beach house for sale

60s modernism wasn't all bleak tower blocks ... check out this cool refurbished modernist house by the sea ....

Posted by the planet @ 12:10 PM 0 Comments

Converted Monty Python Studios for sale

Planet Property: Converted Monty Python Studios for sale

Once home to the Monty Python Studios; now a vast modernist home with a price tag of £12,000,000 ... am I the only one who finds this a bit depressing?

Posted by the planet @ 11:52 AM 0 Comments

Farmland values hit record high in 2013

Planet Property: Farmland values hit record high in 2013

According to Knight Frank the price of farmland rose by 7% in 2013 to a new average of just under £6,700 per acre

Posted by the planet @ 11:43 AM 0 Comments

The smarter ways to search for house price bargains

HowToHomeBuy.co.uk: Smarter Ways To Property Hunt

An article that takes a look at some of the more unusual property search portals, including how to look for sellers under pressure, time travel searching and finding a place to live where the neighbours are 'just like you'

Posted by amie gramlick @ 07:31 AM 0 Comments

Monday, January 6, 2014

From James Meek's essay "Where will we live?"

Thatcher's slow-motion housing timebomb: Boing Biong

"Housing in the UK is a microcosm for everything wrong with neoliberalism: corruption, cronyism, grinding human misery, and funny accounting to prove that it's all working, honestly." This will feature in tomorrow's Keiser Show

Posted by pete green @ 09:27 PM 0 Comments

The fallacy at the heart of economics

Geophilos: The Muting of our Minds

Prof Kris Feder explains why housing costs so much and why we have low wages and few Jobs. Modern Economics treats labour as if it is in short supply, when it is abundant and good land as if it were infinite, when it is in very short supply.

Posted by pete green @ 04:30 PM 2 Comments

Nasty Party strike again, taking from the young and giving to the old.

Telegraph: George Osborne targets under 25's in spending cuts

Another £25 billion must be cut from State spending after the next election in order to balance the books, George Osborne has said. Wealthy council house tenants and under-25s claiming housing benefit will be hit by fresh cuts to the welfare bill, the Chancellor said, but well-off pensioners are unlikely to lose their free bus passes and television licences under a future Tory Government. Families will soon feel better off as wages rise and prices fall, Mr Osborne added.

Posted by khards @ 04:05 PM 6 Comments

Tanke 2

Telegraph: Cameron's help-to-buy poster girl bought flat through her own firm

Keen to exploit the public relations opportunity, Prime Minister David Cameron, visited Mrs Ray and her two-year-old daughter Maisie in their Southampton home last week to share a cup of tea and congratulate her on her recent purchase. It emerged that Mrs Ray is an award winning and well paid estate agent who purchased the flat through her own property firm. The £145,000 two-bedroom flat was sold through the Enfields estate agency in Southampton where Mrs Ray has worked for almost eight years and is currently the director of sales. Questions over her suitability for the scheme have also been raised after it emerged that the mother-of-one, who split from her estate agent husband six months ago, drives a £33,000 convertible BMW.

Posted by khards @ 09:25 AM 5 Comments

Sunday, January 5, 2014

A 2003 prediction of disaster and an explanation therein.

BBC Money Programme Oct 2003: Mortgage Madness (3part): BBC2 - 29/10/2003

This is a 10 year old BBC expose of rampant mortgage fraud being recommended by various agents and the like and perpetrated by average every day lying saps. I know its very old news but its a stark reminder that the crisis (of 2007/8/9.... 13/14 which is protracted and still a giant hangover) was entirely predictable and also explicable. Why these people weren't all prosecuted for fraud is beyond understanding. That and losing their homes for that fraud. Basically an honest buyer could simply not compete.

Posted by at0z @ 06:35 PM 0 Comments

Cameron caught red handed 'pimping' help to buy.

Legalaidandme: The sheer audacity of Cameron - Help To Buy

This shows how Cameron will use every PR trick in the book to mislead those interested in all the publicity promoting government's 'help to buy' scheme. Anyone looking at the way Cameron promoted this will have been led in to believing it was all about helping a young mum buy her first home. Its beggars belief that the 'help to buy' scheme is being made available to two estate agents who are bound to earn lucrative amounts when compared with the incomes of those which this scheme should really be helping. It is nothing short of an absolute sham that upon closer scrutiny the government is helping two estate agents buy a home via the property firm of which one of them is a sales director.

Posted by khards @ 04:16 PM 2 Comments

Saturday, January 4, 2014

Why do Governments refuse to publish a Land Price Index?

Share The Rents: What are Governments hiding?

Fred Harrison's latest thesis - The British government recently decided to abolish the land price data that used to be published by its Valuation Office. But having the information, by itself, does not automatically make for good governance (as we see in the case of Japan). What matters is a correct understanding of what the information on rents reveals about the general health of the economy. Ask these questions: what are governments afraid of? What are they trying to hide?

Posted by pete green @ 03:04 PM 2 Comments

Shelter survey

This is Money: Millions are starting the new year anxious about whether they will be able to pay the rent

This year could also see changes to how homeowners who fall on hard times can claim Support for Mortgage interest. Under the current system, unemployed homeowners can claim SMI 13 weeks after signing up for Jobseeker’s Allowance and other income-related benefits. This support helps jobseekers keep up with interest on payments and in turn avoid a potential eviction after falling on hard times. Data shows this benefit was paid to 239,000 people to the tune of £400million last year - it is an important lifeline for many.

Posted by novice pete @ 02:35 PM 4 Comments

Just who are the real layabouts and scroungers in our society?

Grauniad: Money Renting property Buy-to-let property supremo shuts door on housing benefit tenants

Sleazy rent creamer summarily evicts 200 tenants (1/5 of his 1000 tenants) because they are on housing benefit. I hope he sent them a Happy New Year card. He comments that rents have gone north whilst housing benefit has gone south, and that eastern european migrants are better tenants. Any second thoughts from those of us who proposed that lower HBs would translate seamlessly into lower rents?

Posted by nickb @ 10:20 AM 15 Comments

No Sh*t Sherlock!

Telegraph: House price rises 'must stop'

Figures show that house prices in December experienced their biggest monthly rise for more than four years. The average cost of a home rose by 8.4 per cent last year, according to the Nationwide building society.

Posted by happy mondays @ 08:56 AM 5 Comments

How does this work?

Telegraph: IMF paper warns of 'savings tax' and mass write-offs as West's debt hits 200-year high

This is what I find worrying. If the only way to save is to take out a mortgage debt and pay it off, your saving being the eventual ownership of the property, then who is the offsetting saver? Maybe inflation is low now, but saving in sterling is finished as an idea for many people.

Posted by stillthinking @ 08:21 AM 1 Comments

Friday, January 3, 2014

Property Market Forecasts for 2014

Property Buyer Blog: New Year Property Market Forecasts

At the end of any year, there are any number of people popping their heads up with forecasts of what the year ahead might bring and perhaps the most numerous are those who are looking at money and what changes might mean for everyone in the country. With the housing market having gone through some bad times in the last years and many people worrying about whether they will ever be able to afford their own place, it is easy to understand why these forecasters are read avidly by almost everyone. So, what have property market forecasts predicted?

Posted by joel desvignes @ 01:19 PM 2 Comments

When the last Bear turns...................... !

Investment Week: Another bear falls: Dr Doom turns bullish for 2014

Nouriel Roubini, famed for his gloomy predictions on the global economy, has become the latest bear to turn more optimistic over prospects for 2014. In his outlook for the year ahead, the economist said tail risks will become "less salient" in the coming 12 months, adding he expected advanced economies to grow at an annual pace of around 1.9%. The latter forecast is largely based on a belief in the strength of the US, a country on which Roubini turned more positive last September. That mirrors the base case of fellow renowned bear Hugh Hendry

Posted by jack c @ 01:05 PM 5 Comments

Manchester had highest price rises in 2013

Planet Property: Manchester had highest price rises in 2013

Manchester house prices outperfromed London in 2013 with a whopping 21% rise, says the Nationwide

Posted by the planet @ 10:59 AM 0 Comments

4 in 10 landlords plan to increase rents in 2014

Planet Property: 4 in 10 landlords plan to increase rents in 2014

More than four in ten (42%) UK landlords will be raising rents next year, with over a quarter (26%) planning inflation-busting rent increases of more than 3%

Posted by the planet @ 10:36 AM 2 Comments

Irish government targets millions in benefits going to landlords

Planet Property: Irish government targets millions in benefits going to landlords

The Irish government has calculated that the top 20 earning landlords in the country get €5m in State rent subsidy between them

Posted by the planet @ 10:36 AM 0 Comments

House prices went up by 8.4% in 2013

Myfinances.co.uk: Nationwide: House prices see biggest monthly jump for 4 years

UK house prices went up by the largest annual amount in over four years, according to Nationwide. The lender said that average house prices in the UK went up by 8.4 per cent during 2013 and by 1.4 per cent in December and that the increase in prices was “gaining momentum as the year progressed.”

Posted by ben @ 10:26 AM 3 Comments

'Right to Buy' discount increased

Mirror: Right-to-buy: Council house tenants can now buy home for less than third of value

The maximum discount for a house purchased using 'Right to Buy' is to be increased from 60% to 70%, Communities Secretary Eric Pickles said. Some council tenants will be able to buy their homes for less than a third of their market value under new “Right to Buy” plans. The rather rotund Cabinet minister said that the proceeds would be ploughed back into building 'affordable homes'. (Improved text from Mirror article)

Posted by enuii @ 09:44 AM 1 Comments

For those needing a bigger mortgage to get on the ladder, best 95% LTV deals

HowToHomeBuy.co.uk: Updated Best Buy 95% Mortgage Tables

With the news that Lloyds Bank is now offering 95% mortgages backed by the Help To Buy scheme, we thought it made sense to update our best buys table. The Lloyds offering is not particularly competitive when compared to other lenders and has been matched to that of it’s sister brands, Halifax and Bank Of Scotland. Best Buy 95% mortgages are still those from Yorkshire Bank and HSBC ...

Posted by amie gramlick @ 07:08 AM 0 Comments

Thursday, January 2, 2014


Max Keiser: [KR544] Keiser Report: Westminster Circus

We discuss the scary banking clowns, the alleged decline in bank robberies and the Times’ ‘Briton of the Year,’ George Osborne causing a nation of a million mortgage holders in ‘perilous debt.’ In the second half, Max interviews Danny Blanchflower, a former external member of the Bank of England’s interest rate-setting Monetary Policy Committee, about the disastrous UK economy, George Osborne’s policies and the BoE decision to buy UK Gilts rather than other assets during this crisis. Read more at http://www.maxkeiser.com/2014/01/kr544-keiser-report-westminster-circus/#ORLAfrmwjQRziDDh.99

Posted by khards @ 08:50 PM 4 Comments

75% of UK Postcodes See Rise in House Prices

Property Buyer Blog: Three quarters of the country sees substantial house price rise

Three quarters of the country sees substantial house price rise Figures recently calculated by Hometrack, the property analyst, show that there was a house price rise across 75% of all UK postcodes in 2013 and this is set to continue into the New Year and beyond. With everyone so used to hearing depressing news about house sales, this comes as a nice end of year feel-good news item and shows that the upturn is not an isolated blip but a real improvement which is likely to stay around for a while.

Posted by joel desvignes @ 02:04 PM 0 Comments

Horse sense tells them never to bet on people

Counterpunch: Book cooking on New Years Eve

Remember Repo 105? That was accounting smoke and mirrors in which a bank reduced its holdings of securities just before its Quarterly Report in order to appear to reduce its leverage and increase its liquidity. After the Report the bank had to repurchase the securities and restore the real position. It involved shifting around cash and securities. Well, it seems the Fed is helping the banks with this scam, Just before the end-of-year accounts it swapped USTs for cash in order to help bank balance sheets look more sound than they are. These UST sales caused the drop in price and the rise in Treasury yields. The press, however, reported that this spike was due to "gains in consumer confidence and home sales (which) bolstered bets (that) the Fed will end bond purchases next year".

Posted by icarus @ 10:59 AM 0 Comments

Retirees priced out of market forced to rent

Planet Property: Retirees priced out of market forced to rent

Pensioners living in cities are being forced to rent because they cannot - or have never been able to - buy their own home

Posted by the planet @ 10:34 AM 0 Comments

I agree with Vince, do you?

Reuters: Over 6,000 seek mortgages under UK Help to Buy scheme

If approved this would amount to 910 million pounds in loans. " Cameron & Osborne have dismissed concerns about Help to Buy, which they say helps people with sufficient incomes to meet monthly repayments but who cannot afford the hefty deposits demanded by banks. But Business Secretary Vince Cable, of junior coalition partner the Lib Dems, said last week the government should review the scheme in light of changing circumstances since it was conceived".

Posted by alan @ 09:45 AM 1 Comments


BBC: Hammond: Rail fare increase 'in line' with predicted wage rise

There you have it, an average 2.8% increase in rail fares has come into effect, "in line" with the wage rises that the Office for National Statistics (ONS) predict will take effect over the coming year. How much in theory can 2.8% be leveraged up in terms of bricks 'n' mortar?

Posted by enuii @ 09:09 AM 0 Comments

Time to buy a house?

Market Oracle : Nadeem Walayat: UK House Prices Forecast 2014 to 2018, The Debt Fuelled Election Boom

Nadeem calls a multi-year house boom with these caveats: a. The housing market is nowhere near reaching another boom phase which only coincides when house prices pass their previous peak in REAL terms i.e. after inflation, this suggests that any upward trend in house prices is going to be shallow where the next boom could be as long as a decade away. b. That the housing market in real terms has barely lifted off of its March low and is thus highly susceptible to a prolonged period of stagnation in real terms, i.e. the housing market basically goes nowhere for several years in real terms. c. That it is highly likely that we have yet to see the low in UK house prices in real terms, which either means a sustained period of inflation or that the UK house prices revisit there 2009 March low

Posted by libertas @ 06:07 AM 1 Comments

Main Blog | Archive | Add Article | Blog Policies