Rat and Mouse
Fri
18
Mar

BNP Real Estate forecasts 20.1% house price rise by end of the decade [Estate Agent Today]
Vendor to knock £1k off asking price every week until sale [Property Industry Eye]
Haringey Council’s £200,000 letting agency has only one property on its books, almost six months since it was set up [BBC]

The Rat and Mouse - it’s about your house

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Thu
17
Mar

The Battersea Power Station developer is seeking approval to reduce the number of top-end properties in the development and offer more smaller, less expensive homes… protecting the price per square foot… following a 19% slump in demand in the fourth quarter. More here.

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The headlines:

  • significant reductions in capital gains tax (the lowest dropping from 18% to 10%, the top rate from 28% to 20%), but the reductions do NOT apply to second homes, giving landlords a punitive 8% CGT surcharge over other investors. Taken together with new stamp duty rules, it means landlords will be paying significant tax surcharges at both ends of a transaction. 
  • the suggestion that investors with more than 15 properties would avoid the stamp duty levy turned out to be a nonsense. And it’s been clarified that corporate investors will also have to pay the higher rate.
  • however the “breathing space” for movers accidentally caught out with two properties (while waiting for one to sell) has been extended from 18 months to 36 months. 

So… another bad budget for landlords. And before tenants begin to celebrate, remember there are two logical outcomes when the Government makes the sector, as it stands, unprofitable. Landlords drop out, reducing the number of rentals available, resulting in more competition and higher rents. Or they say, and make it profitable, by increasing rents. 

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Wed
16
Mar

The research is by Rokstone, a high-end, Iranian-owned agency, and the numbers are interesting… a £6bn budget to be spent in the next decade, with London topping the list of destinations. More here.

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Tue
15
Mar

How could Telford Homes have got the vibe so badly wrong in its marketing video for the Vibe development in Dalston? Quick summary… fey trust fund princess in a flowery dress marvels at a whitewashed playground version of the capital, packed with scrumptious cakes, expensive furniture shops and fascinating hipsters. But it’s the “whitewashed” element that’s drawings the most attention. But I spotted a non-white person, at 4.08! I think?

More here.

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Mon
14
Mar

The bookmaker betting against house prices [Property Industry Eye]
In Manchester… the postcode that’s seen 800% house price gains in 20 years [Manchester Evening News]
The ftb London commuter map [Independent]
Hugh Grant’s fury at dog that peed on his Chelsea home [Parent Herald]

The Rat and Mouse - it’s about your house 

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Fri
11
Mar

St John’s Wood under the microscope [Ham & High]
At home in Maida Vale with fashion critic Tim Blanks [Evening Standard]
Brad and Angelina’s $21k a month Surrey rental [US Magazine]
London house prices and Brexit [Daily Express]
North London flat breaks in half after dodgy basement job [Daily Mail]

The Rat and Mouse - London’s property blog 

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Thu
10
Mar

Vamoove is a brand new international property portal launching at the end of the month, but what’s different about this one is that only financially vetted, pre-qualified purchasers with funds and a solicitor in place will get beyond the pretty pictures to the vendor or agent details. So window shopping’s allowed, time-wasting isn’t. The site will be open to private sellers, too… providing a kind of “off market” market. A good idea? it’s a good story, but I’d be interested in being privy to the mood-music among estate agents (who Vamoove needs to attract to pay the bills… listings aren’t free). How much time-wasting really goes on? How many agents want to (pay to) put obstacles between a listing and their phone number/email address? Delving a little deeper into parts of the site that are accessible before launch, it looks as if Vamoove is aimed at investors rather than movers. With its international reach (a drop down menu lists pretty much every nation in the world), it will be interesting to see how investors and the website negotiate the different markets, taxes, and customs. More here.

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Wed
09
Mar

The first series was informative, infuriating and often moving. It’s back, tonight, with a close-up look at the injustices suffered by both tenants and landlords in an over-heated and competitive market. Channel 5, tonight, 9pm.

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Tue
08
Mar

Revenue up, 4.1%, but profits down, -2.6% after significant branch expansion. They’re reporting growth in every sector (sales, letting, mortgage), and a 13.4% increase on proposed dividends. More detail, here.

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According to Zoopla, properties on the Crossrail line have increased in value by 52% since construction began in May 2009, with homes in Liverpool St, Paddington, Ealing Broadway and West Ealing, Acton, Forest Gate and Bond Street all seeing gains of greater than 60%. What does that compare to, on average, in the UK in the same time frame? Roughly 30%. 

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Mon
07
Mar

Increasing numbers of agents are going bust [Property Industry Eye]
David Miliband’s noisy tenants [Daily Telegraph]
Rightmove’s most-viewed in February [Rightmove]
Experts discover reason why more people aren’t buying homes… they’re too expensive [Property Wire]
Crowdfunding and buy-to-let [Estate Agent Today]

The Rat and Mouse - it’s about your house 

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Fri
04
Mar

20160304toilet

Movers wait for referendum [Property Industry Eye]
Flat with dramatic toilet [Huffington Post] 
Warnings of an April slowdown [Daily Express]
Market report - Nationwide peg national annual growth at 4.8% [Press release]

The Rat and Mouse - it’s about your house

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Thu
03
Mar

In campaigners have been scaring London homeowners with tales of a property crash in the capital. Out campaigners have been luring wannabe first-time buyers with the promise of a long-awaited property price correction. But they’re both wrong, according to Ross Clark, writing in the Spectator, who points out that only a small proportion of the foreign money jacking up London prices comes from inside the EU, and that fears of EU institutions packing up and leaving are wildly exaggerated. More here.

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Wed
02
Mar

According to a survey by the National Landlords’ Association, almost 80% of UK tenants are happy in their rental. Figures vary with regions, unsurprisingly, with Wales coming out top at 92%. Where’s London? Unsurprisingly, perhaps, where competition for homes drives up prices and standards of living are affected by cramped city conditions, the figure drops to 72%. More here.

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Tue
01
Mar

That’s according to the NAEA’s January figures, with the number of properties per branch dropping to just 33. Meanwhile - possibly influenced by the second/investment home Stamp Duty surcharge deadline - demand surged by 21% December-to-January. More here.

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