Rat and Mouse
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:

20140708peckham 2

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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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Fri
27
Jun

Results from a YouGov poll for the Standard show just one in six Londoners wanting house prices to rise further. More than a half want prices to fall, with almost a third wanting them to fall “a lot”. Are these results that surprising, now that homeowners are a minority interest in London? Interestingly, the over-60s (where owner-occupation is more common) were more aggressive on prices, with 21% looking for further gains. Attractive. More here.

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Thu
26
Jun

It’s part of a scheme they’re calling “Don’t Mess with Croydon” - a rather embarrassing title for campaign to clean up the town’s streets - and would involve every private landlord registering for a license, after meeting certain health and safety criteria and passing a criminal conviction check. Failure to obtain a license could result in a £20,000 fine. Despite some rather hysterical reporting, it’s merely at an early stage. Supporters of the scheme hope to launch a consultation next week. More here.

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Wed
25
Jun

The political risks of dealing with the London housing crisis [Guardian]
Fewer than 100 genuinely “affordable” homes in London, according to charity [Daily Telegraph]
Simon Cowell buys in New York [Daily Mirror]
One Direction singer tried to have cash machine installed in London home [fansshare]

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

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Tue
24
Jun

Go here for a property price heat map of the London boroughs, using Office for National Statistics data and commissioned by the International Business Times.

20140624heatmap 2

It’s a data arrangement, complete with bird’s eye view maps, and information for types of properties, specific streets. Hours of fun. 

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Mon
23
Jun

London property prices reasonable, argues Zoopla boss [Sunday Telegraph]
And his shares perform well [Independent]
The effects of a 1% interest rate rise… next year could be expensive [Daily Telegraph]
Return to timber [City AM]

The Rat and Mouse - it’s about your house

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Fri
20
Jun

As annual stamp duty revenue climbs from £4.7bn to £5.6bn in a year, the Telegraph calls for action to curb a tax allowed to climb out of control by fiscal drag and hit London’s first-time buyers. More here.

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