Rat and Mouse
Mon
27
Jun

A damp and derelict, pebble-dashed, lime-green, single garage. £360,000. But it’s in gated and sought-after Foulden Terrace, and planning permission is likely. More here

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As a result, the challenging conditions we referred to in our April 2016 trading update, which have impacted recent property sales volumes, are now likely to continue for at least the remainder of the year. We therefore expect full year 2016 Group revenues and Adjusted EBITDA¹ to be significantly lower than prior year.

[via Property Industry Eye]

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Fri
24
Jun

The bubble’s burst. That’s the view of analysts and agents following the morning’s news, that the UK can’t even get along well enough with its geographically and culturally closest allies to do collective business. Housebuilders’ shares are tumbling, 20% down already, and transactions are expected to halt while anybody with money to spend wonders exactly what’s in store for their jobs, investment, security. Quoted in the FT, JLL’s head of residential research expects annual falls between 3% and 5% in 2017 and 2018 "based on the best case scenario of a relatively orderly adjustment to our new political realities”. Presumably he said that before Cameron’s speech this morning, in which the rudder fell off the ship. Read more here.

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Thu
23
Jun

Property leaders among 1,280 business signatories backing Remain [Independent]
Five effects of a Leave vote on London property [Homes & Property]
Middle Eastern investors fear referendum results [CNN]
Foreign investors holding onto their money in run-up to result [Wall Street Journal]
London’s largest builder predicts 15% hike in construction costs in case of Leave [Business Insider]

The Rat and Mouse - it really is about your house 

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Wed
22
Jun

In March, the final month before the surcharges were implemented, there were 171, 220 sales. In April? 74,590. And - new figures - in May? 84,300. Poor sales figures in April and May can - to a degree - be balanced by the March rush-to-buy, but continuing low levels will point to lasting damage to the market.

[via Estate Agent Today]

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Tue
21
Jun

£12.4 billion, according to new research by property investment vehicle Property Partner. They’ve used DCLG data to identify almost 21,000 empty homes in the capital, with Newham leading the way at 1,318 properties. More here

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Mon
20
Jun

Miles Shipside names referendum uncertainty as one reason why asking prices in the capital have been hit in the last month, dropping 0.2% (or almost £1,000 for the average London property) compared to a national rise of 0.8%. But it’s only one factor slowing a market that has been running way beyond any conventional measure of affordability. More here.

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Fri
17
Jun

20160617drabdarkbrown

Dip in new rental listings as market slows following March rush [Property Industry Eye]
London Reimagined… Rightmove’s map of how things could be [Estate Agent Today] 
Landlords support name and shame [24dash]
The world’s ugliest colour? [Curbed] 

The Rat and Mouse - London’s property blog

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Thu
16
Jun

… of 4% according to the latest LSL Property Services tracker, with just 1% of UK tenants in serious arrears. Eviction orders were down 3%. Rent arrears are most directly inked to the health of the job market. More here.

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They’ve cut supply in response to a 20% fall in reservations, and fear things could get much worse in the case of a vote to leave, with a shortage of workers hitting supply costs and financial upheaval damaging demand. More here.

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Wed
15
Jun

20160615sitcom

Some fun, via Curbed.

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This replaces previous indices published by the Land Registry and ONS, includes the entire UK (including Northern Ireland) and deals with cash sales data as well as mortgages. Interestingly, it opens with a caution that the index is still being treated as “experimental” and so isn’t officially a “UK national statistic”. What does it say? UK average house prices rose 8.2% April-to-April, with London leading the way at 14.5%, and the City of London local authority topping every region at 27.3%. Get your own copy here.

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Tue
14
Jun

That’s its nickname, based on its white, stucco frontage and proximity to the American embassy. It’s for sale with a guide price of £2.5m and  - for the next year, at least - it wouldn’t be too much to claim it’s the most secure private property in the country. When the embassy extended its security zone in the wake of 9/11, the property fell within its boundaries. So - now - the buyer will come across patrolling armed guards and anti-tank blocks and need special security clearance to come and go. The embassy’s due a move, however, next year and the existing complex will become a luxury hotel. Put up with a little strangeness now and reap the benefits later, say agents Wetherell. More here. Particulars here.

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Mon
13
Jun

Bookmaker offers tempting odds on UK property prices [Business Insider UK]
One-bedroom rentals becoming unaffordable [Guardian]
Landlords are using social media to “personality check” potential tenants [Daily Telegraph] 
Number of landlords incorporating surges [Letting Agent Today]

The Rat and Mouse - it’s about your house 

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Fri
10
Jun

London agent fined for false listings [Property Industry Eye]
Hundreds rally against punitive tax treatment of landlords [Property Industry Eye]
Chicest old people’s home, ever [Daily Telegraph]
Why lower house prices won’t mean more affordable homes [Newsweek]
Cool house pods [Homes & Property]

The Rat and Mouse - London’s property blog 

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Thu
09
Jun

The number of surveyors predicting a drop in prices outnumbered those predicting a rise by 10%… with London and East Anglia expected to be most affected. But don’t - they warn - expect a significant shift in the market. These are the short term results of EU referendum uncertainty combined with a natural cooling following a rush to complete by investors/landlords ahead of stamp duty changes. Prices may pick up again after three months. More here.

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