Rat and Mouse

Low neighbourhood crime? Transport? Good schools? 

A great mobile phone signal.

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This one, in Devon, was built with railway sleepers, lorry tyres and scrap metal, by a couple of Londoners fleeing the capital. It wasn’t built with planning permission. After neighbours complained, the local council ruled to have it removed. In an appeal, however, planners praised the couple for their passion and a build that “sits very comfortably” with National Planning Policy rules on sustainability. Lovely.

But it’s hard not to feel bad for the couple who built this rather beautiful house, in Pembrokeshire. It’s built with local wood and straw bales rendered in lime, by a local couple priced out of their own neighbourhood. According to the local council “it represents an unsustainable form of development”, and will have to be removed. An appeal hasn’t helped. Unfathomable. 

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Tue
29
Jul

Carney’s desperate to start raising interest rates by the end of the year, but can he - asks Bloomberg - if house prices have started to falter? Growth is already likely to be affected, goes the argument, by the sudden feel-bad factor of falling house prices. Add rising costs of borrowing, and the pressure to growth might just be too much. More here.

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Mon
28
Jul

London rents reach double national average [Independent]
Shipping container chic [Modesto Bee]
So greedy it's spooky… ghost gazumping [BBC]
Brits love their kitchen gadgets [Sunday Telegraph]
Fast Eddie to sell 33 Portland Place [Sunday Telegraph]

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

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Fri
25
Jul

It’s Hometrack this morning, with a notional rise of 0.1% in July nationally, but fewer than a quarter of postcodes registering rises at all. Time on the market is falling everywhere except in London and the South East (which is significant as it tends to lead the market), rising in the capital from a March low of 2.7 weeks to 4.3 weeks (still below the national average of six weeks). Get the full report here.

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Thu
24
Jul

The message - according to MoneyWeek - isn’t good. The share price hit new lows this week, transaction volumes in the areas serviced by the agency are on the decline, and “encapsulated in Foxtons’ price is everything you need to know about London property”.

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Wed
23
Jul

According to data from Knight Frank, the average central London yield of 4.3% is way below the UK average of 6.4%. In Manchester and Leeds, landlords are looking at something like 8.2%. Interestingly, and in contrast to this morning’s Zoopla figures, KF point to weakening central London capital growth as a factor in the new data. More here.

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New Zoopla data shows a massive 8.2% rise in London house prices in just the first six months of the year. Expanding the data to the south east doesn’t do much to the figure, with a small adjustment to 7.4%. For some context, 7.4% rise in the average south east house price is the equivalent of around £23,000. More here.

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Tue
22
Jul

Adding value with a home office [Daily Telegraph]
Osborne continues to punish home-buyers [Daily Telegraph]
Nazi turns artsy [Curbed]
Helen Mirren: landlord [Curbed]

The Rat and Mouse - property blogging since 2005 

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Mon
21
Jul

It’s Rightmove data. And it’s a 0.8% fall in asking prices June to July, including a 0.4% fall in London. Annually, the figures at +6.5%, down from +7.7% a month ago. Reasons? The distraction of the World Cup, rhetoric from Mark Carney about possible interest rate rises and tighter lending criteria. And - in London - a sense that house prices might be reaching a peak. 

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Fri
18
Jul

Very soon, according to this. Fifty-three acres, including stables and an indoor riding arena and well-placed, according to the AOL money man, to profit from the continuing ripple-effect into commuter land.

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Thu
17
Jul

Scottish Help to Buy pot runs dry [BBC]
The London average rent map [Property Hawk]
Are new buy-to-let landlords vulnerable to imminent rate increases? [Bloomberg]
it’s about your Houzz [BBC]

The Rat and Mouse - blogging about property since 2005 

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Wed
16
Jul

According to Ham & High:

The council is considering offering financial incentives to private landlords who agree to cap rent increases in line with inflation.

The details are scant, but there’s mention of loans for capital repairs and “council-approved” badges. 

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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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