Hopefully this might improve standards

Daily Mail: A stealth tax on landlords?

I think this shows who the Mail thinks their readership is. It only affects 87011 properties. Hopefully it will lead to more council inspections and increased standards.

Posted by tenyearstogetmymoneyback @ 08:16 AM 0 Comments

Friday, Sep 14, 2018

Carney throws housing market to the wolves

Torygraph: Mark Carney accused of spreading 'gloom' with no-deal Brexit prediction of 35pc house price crash

Carney would prefer to throw the housing market to the wolves instead of raising interest rates. Clearly, if the central bank itself, which has effectively set housing prices and the cost of credit, starts talking about a dramatic crash then nobody will pay. Nobody will take out a mortgage, and Carney will achieved through fear what he refuses to do from market pricing.

Posted by stillthinking @ 03:09 AM 12 Comments

Thursday, Sep 6, 2018

1980s style Shared equity all over again ?

Daily Mail: Help to Buy has left us trapped

A couple of weeks ago a colleague was discussing Help to Buy with me and I commented that it sounds to be no different from the Shared Equity schemes builders offered in the late 1980s, which ended up badly when prices stopped going up year after year.

Posted by tenyearstogetmymoneyback @ 09:02 PM 3 Comments

Rents down 0.3% over the year in London, outlook is further falls

Office of National Statistics: Index of Private Housing Rental Prices, Great Britain: July 2018

Not sure what the Enfield statistic is though :-) Interestingly, the most highly leveraged landlords - those in London - are clearly not doing a good job at passing on their tax costs to tenants. The business model of a lot of London landlords is making no money or a loss on rent, but hitting the jackpot with a big capital gain. Let's see how this pans out if prices keep falling

Posted by mombers @ 11:41 AM 0 Comments

Wednesday, Aug 22, 2018

It was worth something, now it has become worthless

Torygraph: Time may be up for the penny coin, says Bank of England

You can tell the worthless coins because they are the ones that stay on the floor. 2p, 5p. 10p (depending), 20ps still get picked up by adults. I suppose kids pick them all up. The BoE, clearly an insightful body, must have decided that the populace actually walking around on discarded coins of the realm might be a bit dispiriting to savers.

Posted by stillthinking @ 09:58 PM 0 Comments

Wednesday, Aug 15, 2018

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 6 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 3 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

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