Rat and Mouse

Rightmove’s index of asking prices rose 1.3% in April, led by high demand for larger properties. The theory is that a feeding frenzy at the bottom of the market among buy-to-let investors trying to beat a stamp duty hike released “second-steppers” who very suddenly revitalised the family home market. Drilling down on London, Righmove pegged asking prices 8.7% up on the year, but just 0.3% up on the month. More here

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Fri
15
Apr

Interior design… the porn look [fastcodesign.com]
Cambridge boffins can predict London’s next hotspots [CityAM]
Possible conflict between Sadiq Khan and business adviser over property policy vision [Spectator]
Foxtons letting criticised for warning client off benefits-calming tenants [Evening Standard]

The Rat and Mouse - it’s about your house

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Thu
14
Apr

Despite the much-discussed burst of activity among investors and landlords to beat the Stamp Duty surcharge, demand in the capital slumped in March, according to RICS. Reasons? The surveyors are citing Brexit uncertainties as a major factor, along with worries about the mayoral race and a sense by investors who hadn’t already found a property that it was too late to beat the new Stamp Duty rates. More here.

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Wed
13
Apr

Last month, the ONS index (which related to January) was all about London property gaining £500 a day in value and settling at an average price of £551,000. Hope you didn’t spend it. Because - following the annual revision of “weights” (the way different type and sizes of properties are allowed to influence the final figures) - the latest ONS survey shows the average London property worth £524,000… lower than December’s £536,000. Perhaps misleadingly, the accompanying literature talks about London property “falling back” by 2.8%. You have to go to the “Background notes” at the very end of the document for information about the revisions to the calculation. More here and here.

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Tue
12
Apr

And both candidates recognise this, according to today's FT. The difference in strategy? For Goldsmith, it’s about more building. For Khan, it’s about forcing developers to increase the proportion of affordable homes in a development to 50%. Critics believe that’s the point at which projects become unaffordable and will be abandoned. 

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Mon
11
Apr

Following second home stamp duty surcharge deadline, the first-time buyers are back [Property Industry Eye]
How Brexit is hitting the centre, and Crossrail is profiting the outside [Independent]
The regions are outperforming central London [Telegraph]
East London remains the exception [CityAM]
Inflation on the rise, no rate rise expected soon [This is Money]

The Rat and Mouse - it’s about your house 

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Fri
08
Apr

RICS calls for full compulsory licensing of all estate agents [Property Industry Eye]
Regeneration schemes and their affect on neighbourhood property prices [City AM]
Latest Halifax house price data [Property Hawk]
Because nowhere does divorce like London [Inquisitr]

The Rat and Mouse - London’s property blog 

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Thu
07
Apr

First, a rush to complete before the deadline. Now, this...

Research on Rightmove by property crowdfunding business Property Partner shows rental listings up by 20.6% in the week that the tax hike kicked in, compared with the previous week.

Looking more specifically at London, there was a 19.4% rise. Enough to soften rents? Look out for a "third effect”.

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Wed
06
Apr

According to this, there are roughly 2,800 Mossack Fonseca companies on the Land Registry list of overseas property owners, with significant commercial and residential holdings linked to the president of the UAE, Pakistan’s PM, Iraq’s former PM, the Nigerian president, the former boss of HSBC, the Graff diamond magnate and many others. Go here to read about the London flats owned by Soulieman Marouf… Assad’s fixer in the UK. 

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Tue
05
Apr

According to Knight Frank data shows Kensington prices down 6.8%, 4.9% in south Kensington and 2.5% in Chelsea across a year, and no sign yet of the winter/spring pick-up as bankers get a sense of bonus season. More here.

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Mon
04
Apr

Staffordshire agent spared jail after stealing deposits and rent [Property Industry Eye]
House prices rise 47,000% in a single lifetime [CityAM]
The cost of proximity to central London? £3k per minute [Observer]
Branson’s old mansion sells for £37.5m profit [Daily Mirror]
Minimalist inspiration in Instagram [Curbed]

The Rat and Mouse - it’s about your house

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Fri
01
Apr

Foxtons’ Google review surge [Property Industry Eye]
Brits obsessed with online snooping target friends’ and families’ properties [Daily Express]
Differentiating… high-end development to have own private art gallery [Independent]
Zaha Hadid tributes on social media [Curbed]

The Rat and Mouse - London’s property blog 

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Thu
31
Mar

It will replace both ONS and Land Registry indices, and will be launched in June, according to this. It will be based on completion data, and to whet the appetites of data nerds up and down the land, it has published some historical (2011) data, using its new formula (which is said to put less weight on properties at the top end of the market). The results are slightly confusing, showing an average UK price slightly above its Land Registry equivalent but significantly below ONS figures. More here and here.

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Wed
30
Mar

Not everyone, obviously, but everyone financing high-end London property builds, according to Randeesh Sandhu of Urban Exposure Real Estate. The cause of the freaking is oversupply, with 54,000 homes in development and falling commodity prices and a less advantageous tax situation deterring foreign buyers. Central London land values are a good marker of the strain, down 0.2% last year, after a 24% rise in 2014. More here.

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Tue
29
Mar

Sophisticated new Nigerian scam targets property hunters [Property Industry Eye]
In case you were wondering [Forbes]
Oxford UK’s least affordable location [City AM]
Bank to target buy-to-letters… the onslaught continues [Sky News]

The Rat and Mouse - it’s about your house

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Thu
24
Mar

After a bitter battle to pass ambitious redevelopment plans for his Kensington Palace Gardens, is Foxtons founder Jon Hunt about to be stumped before work begins? Now the French and Indian Embassies have written to the council to lodge complaints about plans to dismantle a wall on Bayswater Road, at the rear of Hunt’s property, to allow access to the kind of heavy vehicles needed for such an ambitious restructuring. They’re concerned about noise and dust. Go here for some images of the proposed property, including a giant “car carousel”. 

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