Rat and Mouse
Tue
30
Sep

20140930nationwide

It’s a dip of 0.2% in September, according to Nationwide, bringing annual house price growth down to 9.4% (from 11%). The three month on three month average drops to +1.5%, the lowest it’s been in 12 months. Drilling down on London, Q2 to Q3 annual growth has seen a slight slowdown from 25.8% to 21%. Get your copy here.

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11.06% And it’s in the S1 postcode, which is in Sheffield. 

20140930s1

There’s an interesting interactive hotspot map, courtesy of Home.co.uk data, here. Bit fiddly to use, and suffering from the vagaries of micro-data (some of the postcodes have as few as three rental properties) but fun nonetheless. 

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Mon
29
Sep

Senior Labourites unimpressed [Here is the City]
Can the rich wriggle out of it? [Guardian]
Why it’s a stupid idea [MoneyWeek]

And elsewhere...

Du Maurier home for sale [ITV]

The Rat and Mouse - London’s property blog, since 2005 

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Fri
26
Sep

Drop off in rental supply [Property Hawk]
Ed Miliband and Harriet Harman would have to pay mansion tax [Daily Telegraph]
BBC’s new Changing Rooms manages to combine sadistic with dull [Daily Telegraph]
The world’s greatest feats of architecture… cool graphics [Curbed]

The Rat and Mouse - it’s about your house 

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Hometrack report a 0.1% fall in property prices in the capital, the first monthly fall since November 2012. Across England and Wales, there’s no movement at all. 

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Thu
25
Sep

A tax which, if there were a band applied at 2 per cent every year, would mean that, after 50 years, the state had confiscated the total value of your house, could be too juicy not to apply across the board.

The suggestion is, this is more than a tax on the wealthiest, it’s an entirely new kind of tax… a tax on debt, on assets not actually yet owned by the individual receiving the bill. And once it starts to feel normal, a combination of Government convenience and fiscal creep will mean we’ll all be paying it without questioning the principle. Hysteria? Possibly, but it’s an interesting piece, because it attacks the philosophy of the proposal where other critics are attacking the practicalities. 

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Wed
24
Sep

Currency and house price wobbles in Hong Kong have - after five years at the top - meant that London is now the most expensive city for global firms to locate their employees, also beating out New York, Paris and Tokyo in the top five. The data - from Savills - balances office costs, residential costs, taxes and exchange rates. More here.

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Tue
23
Sep

As a Mayfair penthouse breaks the £5,000 per square metre barrier… London’s most luxurious apartments. (Is it bad that I like the first one?)

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Mon
22
Sep

London homes, foreign buyers… the latest data [Daily Mail]
An unusual solution to landlord garden maintenance [Property Hawk]
Percussionist Colin Currie at home in Lewisham [Sunday Telegraph]
Average working life too short to pay for a home [Daily Telegraph] 

The Rat and Mouse - it’s about your house

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Fri
19
Sep

The 1%, they’re the super-rich with £21m or more of assets (not including their main residence) who - according to Professor Danny Dorling - don’t just hold the keys to Knightsbridge, but the keys to the capital’s economic future. Cash-rich, but with little long term interest in London, they keep property prices above and beyond levels that the average earner can achieve with a conventional mortgage. The results… a dysfunctional, unsustainable capital economy, and eventual collapse. The Independent interview doesn’t do a great job of explaining the relationship between London’s super-prime and starter homes, but it’s an interesting read.

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Thu
18
Sep

The East Midlands, West Midlands and South West of England have joined London, the East of England and the South East of England in rising above the peak of late 2007 and early 2008.

In terms of annual inflation, however, London still leads the way, with an astonishing 19.1% increase.

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Wed
17
Sep

It’s the kind of story everyone loves. Purple suited estate agent is caught stealing tenant’s chocolate bar from a Walthamstow flat. But it gets better. The whole sorry tale's caught on camera. He’s named and shamed, and his grovelling text message apology’s printed for good measure. He’s now apparently been fired, too. For the theft, not the suit.

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Tue
16
Sep

It’s a 0.9% rise in asking prices August-to-September, according to Rightmove. It’s not just a pick-up, it’s an early pick-up, coming at a time when the market’s usually still coasting from the summer. Some commentators are reading it as a portent of a busy autumn. In London, the monthly change matched the England-and-Wales gain of 0.9%, significantly below the 2% gain seen in the south east (excluding the capital). It leaves London asking prices up 13% on the year.

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Mon
15
Sep

The benefits to the London property market of a yes vote [Bloomberg]
Incredible underground spa in Mayfair [designboom]
French cave transformed [Curbed]
Two-thirds of first-time buyers rely on parents’ money [Daily Telegraph] 

The Rat and Mouse - it’s about your house

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Fri
12
Sep

That’s according to figures by Acadata and LSL Property Services, which pegs the average London property at £473,893 and the average UK property at a £185, 496. More here.

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Thu
11
Sep

With both the Liberal Democrats and Labour likely to go into the next General Election with a mansion tax policy, Savills agents - high-end London agents likely to be affected by any major tax implications to expensive London properties - suggest an alternative: Make council tax fair by introducing new bands with minimum charges

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