Rat and Mouse

It’s on.

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London house prices up 20.1% May to May, leaving the average London property a whisker off half a million pounds. Is Mark Carney worried. Yes he is. Kind of. He’s more concerned about debt levels than house prices per se, although the two will always, of course, remain linked. And with all the talk of interest rate rises, the builders - and their investors - are losing confidence, too. 

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Tue
15
Jul

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After a a complex and, at times, frankly depressing saga, the first images of an actual apartment within the Battersea Power Station development have been published. It’s called “The Power House”, and it’s a glass structure, two-bedrooms with riverside balcony. The work, by Michaelis Boyd Architects, is said to purposefully reflect the building’s 1930s/40s heritage in its choice of warm colours. More information here.

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Mon
14
Jul

The 20 coolest streets [Daily Telegraph]
Incoming “celebrity” alert… “Love for Sale” escort [Exeter Express & Echo]
Russian part animal pays £120m for Hanover Lodge in London property splurge [Daily Mail]
Elsewhere, transactions remain low [This is Money]

The Rat and Mouse - it’s about your house 

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Fri
11
Jul

According to the agency’s research department, while the number of foreign buyers in the capital is high (around 32%), the vast majority (88%) are conventional home purchases rather than property investments. More here.

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Thu
10
Jul

Halifax index - unexpected monthly fall but mid-term gains still expected [Guardian]
In Wales… country house with its own (working) train station [Daily Telegraph]
Is the Bank’s “tough talk” working? [Guardian]
Foxton’s gets “outperform status” from Credit Suisse [Investor Today]

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

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Wed
09
Jul

That’s according to a report to be published today by PwC. Expect £500,000 in 2015, and £565,000 by the end of the decade. Interest rates? A gradual move upwards beginning toward the end of this year or the beginning of the next. But it will take until 2020 before interest rates return to anything like long-term averages. 

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Tue
08
Jul

It’s a three-bedroom property in Peckham that’s made the Americans wonder whether the capital has lost its collective sanity, and more specifically its “$1.1m” (£650,000) price tag, given the state in which it’s been left by squatters.

This, from the particulars:

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Mon
07
Jul

London fortunes… homeowners speak [Daily Mail]
Money-saving commutes [Guardian]
Eye-catching garden offices [Daily Telegraph]
The country commuter hotspots profiting from the London boom [International Business Times]
The London paramedics priced out of the capital [BBC]

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

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Fri
04
Jul

It’s the blurred one. 

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Thirty-five police buildings, 20 of them police stations, were sold last year for a combined swag of £125m. Stations include Harrow Road, St John’s Wood, Clapham and Hackney. And apparently this is just the start of a process in which the Met will continue to close costly stations and replace them with “contact points”. Unsurprisingly, it’s a controversial plan, but in the face of budget cuts it’s not entirely surprising. Officials point to (just) five sites that will be turned into schools and colleges as evidence of properties retaining social value. The majority of sites, however, have gone to developers for private housing.

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Thu
03
Jul

Hamptons buys Humberts lettings department [Letting Agent Today]
Bank of England dep. governor calls house prices “biggest risk” to economy [BBC]
Modern mega-mansions for the mega-rich [Daily Telegraph]
In the US… White House knock-offs [Curbed]
The London market, in context [New Statesman]

The Rat and Mouse - it’s about your house 

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Wed
02
Jul

Chesterton was pretty much on its knees when it was bought and saved from ruin by Mercantile Group (who - if we remember rightly - bought a 50% stake for just £3.1m). They were Chesterton Humberts from the end of 2008 until the beginning of this year, when they were split up, presumably with a view to this potentially very lucrative sale. Humberts is a regional brand, Chesterton a high-end London agent, with all the earning power associated with a runaway high-end London market. More here.

Sold… Humberts [June 12, 2008]
Chesterton and Humberts to become… [December 15, 2008]
Mercantile Group snaps up rest of Chesterton [December 3, 2008]

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Despite the boss’s predictions, the latest Nationwide house price index shows London prices up 25% on the year, and a 14th consecutive rise in the national average property price (1%), leaving the national figure up 11.8% on the 12 months, compared to 11.1% a month ago. Get your own copy of the report, fresh of the press, by clicking here.

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Tue
01
Jul

Lisa Simon tells Letting Agent Today that she fears private rented sector policy will turn into a land-grab for popularity, with poorly-conceived policy damaging the sector permanently. More here.

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Mon
30
Jun

Bank’s new director of financial stability says Bank can’t and shouldn’t control house prices [Sunday Telegraph]
Carney promises to control house prices if necessary [This is Money… from 2013] 
Bank’s Deputy Governor warns "rates may return to pre-recession levels” [Sky]
Bank’s Governor, Carney, says rates “won’t rise to levels previously considered normal” [Wall Street Journal] 

The Rat and Mouse… wondering why the Bank of England’s new leadership isn’t more concerned about clarity and confidence

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