Just goes to show there is still plenty of confidence in London property

The Telegraph: Russian economic meltdown sparks wave of panic buying London homes

"Wealthy Russians, desperate to get their money out of Moscow in the wake of the Russian economic crisis, are panic-buying in London this week, according to high-end estate agents. Russia has lost control of its economy in the last few days after an interest rate hike by the central bank failed to stem the collapse of the rouble, accelerating the trend of Russian buyers in the UK capital. Beauchamp Estates said it has seen as much as a 10pc uptick in sales of luxury London homes to Russians since the rouble started to spiral a year ago"

Posted by titaniccaptain @ 10:07 PM 7 Comments

The Next Election will Impact House Prices Going Forward

Guardian: Labour opens up five-point poll lead over Tories

House Prices in a year's time will be decisively affected by the May election. It's coming closer. My removals friend said volumes of house moves are up in our area for December. A Mansion Tax then in 2015?

Posted by alan @ 09:46 PM 0 Comments

Interesting view!

CityAM: UK wages set to continue to beat inflation with a 2.5pc rise in pay over 2015

If inflation was stable then wages rising above inflation would be great maybe, but this article misses that there has been about 7 years of inflation going above wages!! So to speak about solely this year is meaningless. Wages are accelerating due to the amount of extra cash that has been pumped in because the extra cash eventually spreads out.

Posted by stillthinking @ 12:00 AM 8 Comments

Tuesday, Dec 16, 2014

Will this prevent a slide of asking prices in London

Guardian: Lowest-ever 10-year mortgage deals launched

"Santander this morning launched its lowest-ever 10-year mortgage pegged at 3.44% until 2024, aimed at home buyers able to stump up a 40% deposit....." Favourite areas like Hammersmith and Fulham have dropped significantly over the last 2 months, are their flat prices now set to continue their upward path?

Posted by alan @ 09:21 PM 4 Comments

One Man's Blessing is Another Man's Curse

BBC: UK inflation rate at 12-year low of 1% as fuel costs fall

"Inflation as measured by the Retail Prices Index fell to a five-year low of 2%, down from 2.3%" for comparison purposes. Lower energy prices benefit drivers on the UK forecourts as oil producing countries weather the storm of lower income for the same productive work. Among others, this will undoubtedly help some people struggling to pay their monthly mortgages.

Posted by alan @ 09:10 PM 1 Comments

Monday, Dec 15, 2014

Cameron loosing confidence in outright Tory win for 2015

Mail: First-time buyers under 40 to be offered 20% discount on 100,000 new homes starting next month

David Cameron will today announce that the 'Starter Home' initiative will be fast-tracked so potential buyers can register as early as January. Under the scheme, 100,000 houses will be built on so-called 'brownfield' land and reserved for sale only to young people buying their first homes.

Posted by hpwatcher @ 02:38 PM 22 Comments

Price Index shows fallng prices

Rightmove: December 2014

"Year ends with largest ever monthly fall in price of property coming to market". Download your own .pdf

Posted by alan @ 10:14 AM 8 Comments

Sunday, Dec 14, 2014

Stress Fest

Observer: Assets collapse, loans go bad … Britain’s banks brace for a serious stress test

Simulated ‘market tantrum’ likely to be the first of an annual event under Bank of England’s new regulatory regime: House prices fall by an unprecedented 35% and base rates jump above 4%, putting pressure on household finances already feeling the pain of falling real incomes. Unemployment doubles to 12% and inflation rockets in an economy being buffeted by a sharp drop in the value of the pound. In the worst slump in almost a century, Foresight or fiction?

Posted by debtserf @ 09:14 PM 16 Comments

Saturday, Dec 13, 2014

Spivs crash through Planning Policy

Telegraph: Streetwise builders fighting planning protections to build in two thirds of rural areas, says NT

"Two thirds of councils in large rural areas are having their planning protections challenged by “streetwise” house builders who are “gaming” the system, according to new research from the National Trust". "Miss Samuel accused David Cameron, the Prime Minister, of going back on his word in 2011 that local people’s views would be respected" (its called Crony Capitalism, my dear).

Posted by alan @ 03:59 PM 8 Comments

Says it all really.

Independent: Why first time buyers are doomed

A quick glance at the chart and you can see all the hyperbole and HPI obsession is real. We all know it can't last. Yet it does.

Posted by chrisch @ 11:07 AM 2 Comments

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