That's the message from the Bank of England yesterday in a report warning homeowners that the cost of borrowing is likely to rise as lenders pass on higher Eurozone-driven costs to customers. More here. 

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They've a website, a logo, t-shirts, and a Top Ten of reasons why they think we should all be protesting the London Olympics, including:

THE OLYMPICS WILL CREATE MORE HOUSING. 

Yes, if you can afford them! The rest of the site is being given over to homes is being developed by the Mayoral Development Company, Olympic Park Legacy Company. They promise 11,000 new homes, and 35% of them will be affordable. Only 675 of them will be social housing though, so if you’re on the list in Newham get ready to wait. The average wait is around 10 years.

Behind the campaign... a group calling themselves The Space Hijackers, a an anarchist group dedicated to protecting public spaces from the encroachment of private institutions.

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James: “Hi.  Just look last place, your house is definately the best. Can only see 1 problem!”

Me: “Call me and I’ll address the problem – is it the parking permit?”

James: “Possible problem could be finding your landlady very attractive. x”

Me: “James, I am far too old and stroppy for you.  Do you want the room or just to flirt?”

James: “They say age is justa number dont they?  What if I said just to flirt?”

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The Rat and Mouse's more eagle-eyed readers might have spotted we have a new advertiser… 👆 and 👉. We're very grateful to Stacks Property Search & Acquisition, for helping support the blog.

Stacks - founded in 1984 - is the country's oldest and most experienced independent search agency. Their independence means you can be 100% sure they're working in your, the buyer's, best interests; and their knowledge of the locality, from any one of 18 offices, means you're benefiting from both experience and a working familiarity with the local market. 

Not only that, if you're a property professional with an interest in joining this leading agency, Stacks is recruiting. Click one of the banners for more information. 

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It's all to do with the end of the first-time buyer stamp duty holiday, according to LSL Property Services and Acadametrics, who have published their latest report. Transactions were down 18% in April after a 32% rise in March, but property prices fell by just 0.2%. But prices are up 0.4% since December, and 1.4% since June. More here.

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Global property prices on the turn [Spear's]
On the eighth floor of One Hyde Park [Daily Mail]
Hammersmith & Fulham Council announces controversial new social housing proposals [Daily Telegraph]
In Battersea: chimneys in danger [Reuters]
London: rated by sex aid sales [Big Smoke]

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

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According to Savills, Greek and Spanish money led the European flight towards London's safe-haven property last month, with Greek searches increasing 39%. Sixty-five year old Cypriot, Dinos Joannou, speaking to Reuters, puts the issue succinctly:

"Greece is screwed, there are no jobs and it has been run by crooks."

Okay. Knight Frank's Liam Bailey concurs with Savills data, with some extraordinary boosts coming from Europe (searches from Portugal up 153% on the same time last year, from Italy up 46%).

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The north-south arrears gap [Bloomberg]
London avoids global prime property losses [City AM]
Beyonce, Jay-Z plan move to London [STV]
Thierry wins in Hampstead demolition battle [Mail on Sunday]

The Rat and Mouse - London's property blog 

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This is a dramatisation of what was - we are assured - a genuine Craigslist ad (see it here). We've no idea whether he found a house share. 

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The story is the Henri wants to demolish his Hampstead home and build a new one. Conti, who lives at the bottom of his garden, isn't impressed.

If someone wants a larger house, why not just buy one somewhere else?

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Base rates stay put, borrowers pay more [Daily Mail]
Still banging on about land tax [Liberal Democrat Voice]
Repo-data: not good, but stable [Independent]
Fall in buy-to-let lending [Daily Telegraph]

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

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According to the Standard, they're coming, and they're looking for London property to escape the punitive taxes promised by François Hollande. 

Maître Saab, a notary in Paris, said that over the past two months she has helped a flood of French people make gifts of money and real estate to their children, “enabling them to move to London or elsewhere without having to pay so much tax”.

Knight Frank has already reported a 19% surge in online activity from France, with South Kensington, Wandsworth Common and Battersea Park apparently in the target zone (and we've already discussed Kentish Town). Douglas & Gordon have apparently responded with a French-speaking office (South Ken). 

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Converted sheds have become an increasingly mainstream – if illegal – part of the London property market. It's a logical development, given the explosion of property prices throughout the capital, and the huge shortage of supply. As central London becomes more expensive, people are pushed further out and rental prices even in Newham, which is the second most deprived borough in England and Wales, are rising fast.

Specifically, the story of a healthcare assistant's £350 month shed - no hot water, a garden used as a toilet. 

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The first quarter of 2012 has, according to FindaProperty stats, seen a pick up in rent rises, leaving rents in general up 1% on the year, and studio flat rents up 7% to £718 a month and a new record. More here.

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The Institute for Public Policy Research has suggested - among a number of proposals - a "piggy bank tax" on foreign property investors buying in London as a way to fund extra homes. The 2% tax - an annual mansion tax - would apply to properties worth more than £2m and in the ownership of non-nationals. The report also calls for greater powers for the mayor on housing issues, since national housing policy just doesn't fit the reality of London's unique market characteristics. More here.

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