Something is very wrong

Department for Communities and Local Government: House Building: September Quarter 2014, England

Free markets generally respond to demand and rising prices with innovation and supply. Except when it comes to buidling houses it seems. Compare completions for housebuilding with prices over a similar period: This is where I found the DCLG report:

Posted by quiet guy @ 12:23 PM 0 Comments

Friday, Nov 21, 2014

What was that about a recovery?

Mail: Blow for George Osborne as government borrowing RISES sending the country's debt pile to £1.5 TRILLION

Borrowing increased by £3.7 billion in the 12 months to October UK's debt pile has now hit £1.5 trillion up £150 billion in just a year Debt now represents 79.5 per cent of Britain's entire economic output

Posted by hpwatcher @ 10:03 PM 2 Comments

Another prop for a stalling property market

Portfolio Adviser: China’s surprise rate cut sends shares soaring

China has cut interest rates for the first time in over two years in an effort to drive economic growth. The People’s Bank of China cut the one-year deposit rate by 25 basis points and one-year benchmark lending rates by 40 basis points, representing a surprise turnaround in policy. Stalls in factory growth and the property market have contributed to the slowest rate of economic expansion that China has experienced in nearly a quarter of a century. The FTSE 100 is trading up 76 points (1.14%) at 6754, largely due to the move by China.

Posted by jack c @ 04:27 PM 10 Comments

Thursday, Nov 20, 2014

US pension fund buys London estate.

Guardian: New Era estate scandal: families at the mercy of international speculators

Homes across London have turned into an international asset class and their residents now live in financial instruments

Posted by mountain goat @ 11:31 AM 6 Comments

Bought house at market top, now living well beyond their means

Mail: Just because I live in a £1m house doesn't mean I'm not on the breadline

''While our mortgage repayment is fixed at £2,000, factor in bills, food, loans and the general upkeep of four growing boys and it adds up to more than £4,000.'' - Like most of UK, this family think have a god given entitlement to whatever they want!

Posted by hpwatcher @ 06:41 AM 16 Comments

Tuesday, Nov 18, 2014

Poor Milliband - Off on the wrong foot AGAIN!

Guardian: Myleene Klass ‘goes full Paxman’ on Ed Miliband over mansion tax

Singer tells the Labour leader his ‘disturbing’ plan to impose a levy on £2m-plus homes would hit ‘little grannies’. She was supported by fellow guest, former ambassador Sir Christopher Meyer, who said: “You’re going to screw me royally.” Following the spat, bookmaker Coral gave odds of 5-1 that Klass would become the next presenter of the BBC’s Newsnight, 20-1 she would become a Tory MP, and 33-1 that she would become a Labour one :-)

Posted by alan @ 08:46 PM 16 Comments

What will they do once rates are cut?!

Telegraph: Don’t expect an interest rate rise until 2016, says HSBC

What they won't expect is the cut to 0.25% once inflation is below 1% for longer than the bankster's capital bases can tolerate. Also, government like high prices because they can tax the prices of most things, so they try to not allow deflation.

Posted by libertas @ 12:32 AM 37 Comments

Monday, Nov 17, 2014

What an incredibly sad day for UK politics

Telegraph: House prices will go down if you vote Ukip

"Conservative candidate Kelly Tolhurst says homeowners fear a win for Ukip because it will tarnish the area" . "The danger is if you vote Ukip, the value of your house will go down," said Charles Walker, the Con MP for Broxbourne, who was campaigning in the town this afternoon". ( I don't care if you like UKIP or not - this isn't the way to encourage people to vote on the issues of this country). The article goes on to give house prices in the area. FFS!

Posted by alan @ 06:11 PM 17 Comments

Time to wake up

BBC: Rising housing costs will push millions into poverty

The charity's report says that by 2040, people who rent will be more than twice as likely to be living in poverty than homeowners. Its chief executive says leaders should build more affordable housing. In a statement, Julia Unwin said: "These stark findings are a wake-up call for political leaders. After decades of failing to build enough, those in power have a responsibility to act now to build more genuinely affordable homes. The charity predicts that by 2040, 2.5 million less people will be living in social housing. It says six million private renters - that's half of all private renters- will be living in poverty.

Posted by flashman @ 02:19 PM 17 Comments

-20% Annualised

This Is Money: Fresh signs of cooling housing market as asking prices fall 1.7% in November

Rightmove said house prices fell 1.7 per cent month-on month compared with October as sellers compete to attract buyers during the quieter winter months, although the average sale figure for the UK was up 8.5 per cent on a year earlier at £267,127. Read more: Follow us: @MailOnline on Twitter | DailyMail on Facebook

Posted by khards @ 09:07 AM 4 Comments

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