Oligarch states the bleeding obvious
Why else would house-prices be comparable only with those in tax-havens - Monaco, Hong Kong, Geneva, etc.? Forget all the emotional arguments about how London is a cultural hub or whatever. It's *all* about tax and the path-of-least-resistance to make dodgy money appear clean. What better way to appeal to the ego and desire for status of someone from an iffy part of the world than to tell them "Route your cash through the UK's tax havens such as BVI, Cayman, Channel Islands - and then you can buy a house near Buckingham Palace and everyone will think you are terribly clever and important." The extraordinary thing is that over the last 10+ years, nobody has joined the dots between oligarchs parading around London and the notion that something dodgy must be driving it. No longer?
Build a prison for cheap houses
Money Week analysis on ll the different house price surveys
Reward Landlords for Improvements For Lending?
For the cynical, this looks like this could be a new balloon being launched..for subsidising BTL brigade, reward landlords for improving rental accommodation? Win-win...improved living environment for renters (should be good and liveable to start with by the way, and enforced already), free upgrades for the owner, rogue or otherwise? Printed money or Increased taxes to pay for it. Bubble maintained?
London house prices rose 3.28% in July!!
I had to do the calculation myself. The Guardian and others WILL NOT print the exorbitant amount houses have risen in July. Annualised, this would be a 39% increase. Recent shocking immigration numbers could be behind the rise, as Europeans flee Draghi's promised Euro devaluation and seek relative economic growth and lower taxes in the UK.
Some sensible ideas - hence they won't happen
"The IMF said the UK house price to income ratio was 30 per cent above its long-term average; only in France, New Zealand, Australia, Canada and Belgium was the discrepancy higher. Relative to rents, the margin was even wider at 40 per cent. " This quote from the article questions the common belief that this country has a housing shortage.
Has London's housing market just popped?
No way there will be a crash just before an election
... I note that we have passed the pre credit crunch peak for house prices at least according to the Nationwide. But real wages are of the order of 10% lower than they were then and nominal wages are only 8% higher than they were six years ago. If we project that rate of wage growth going forwards then we have a problem for future house prices do we not? Yet we know that UK governments are extraordinarily resistant to letting them fall for any sustained period. So what rabbit will the authorities pull out of their hat next?
BTL mortgage affordability - how rental cover affects what you can borrow
How much can you afford to borrow?
Whether this is your first house buying experience or your thirty-first, it is perfectly normal to have a lot of questions and concerns. Even if you are downsizing, this is still a huge investment and one you should enter into armed with as much information as possible.