Here is some historical data in the form of a graph, so that we can clarify what has happened to average UK house prices since 1980.
According to the graph, average UK house prices appear to be levelling off at around £160,000 in 2017, although whether this is helpful to the wider UK economy depends very much on your personal perspective. Any thoughts? Well, I notice that posters from 'Serious Topics' have singularly failed to contribute to our discussions here, our animated. So good morning, once again, to you all! What a wet Friday morning here in London. Writing in 'Bricks & Mortar', 'The Times's' Friday property supplement, Anna Temkin finds a perfect place to hold court.
"The buyer of Thorne Barton Hall could become the next Andy Murray or Johanna Konta. They would be well placed for sports stardom with a fine tennis court to practise on, put there by a member of the Slazenger sports dynasty who wanted it to be fit for a first-class player.
The property is in the Chiltern Hills and has far-reaching views. Ralph Chivas Gully Slazenger bought the elegant Victorian house in Chesham, Buckinghamshire, shortly after the Second World War. He lived there with his wife and children until 1953, when he sold his stake in the family business and moved to Ireland.
Good schools are near by and London is about half an hour away by train. Situated in the Chiltern Hills, the property, which came on to the market this week with Strutt & Parker for £4.5 million, has far-reaching views. It dates back to the 1830s but the present owner, who has lived there for 40 years and is looking to downsize, added a substantial garage wing ... "
I would argue that even with an asking price of £4.5 million, the country house is too far from Wimbledon, and something closer to the capital would be more appropriate. How about Somerset House, for example, in the Strand?
The second event in the Nocturnal City series explores the London – Barcelona interplay with an evening of panels, installations and music performances. Home to one of Europe’s most vibrant club scenes, Barcelona is a city artists, DJs and producers from all over the world come to connect and to party. Sonar Festival has played an essential role in the development of electronic music, technology and artistic innovation. But the independent cultural scene is also growing, with Barcelona’s local creators exploring new territories and pushing the boundaries of alternative and experimental scenes.
This event looks at new spaces and platforms, connecting the two cities through innovation in their scenes, questioning how club culture could be made more inclusive, and how technological advances might help or hinder its evolution. The line-up features DJs, artists and producers from both cities including DIY Space for London, academic madison moore, Georgia Taglietti (Sonar & Sonar+D and She Said So) and Joe Alexander (Boiler Room), Aleix Fernandez of Onionlab.
Ikonika presents a special AV set in collaboration with visual artist Mungo plus performances on the night by Siren DJs, and the UK premieres of Barcelona based Sunny Graves (live) and AWWZ. Why don't you join us all promptly at 16:00 (BST) on Saturday 14 October 2017 for a night to remember?
Good morning to everyone reading 'The Third' today! To all those who survived the Queen of Spades last weekend, congratulations! So as the UK economy slumps towards 2020, Alistair, what are the prospects for the housing market over the coming years? 'The Guardian' leads today with some editorial comment on homelessness in the United Kingdom: do ministers care?
"The National Audit Office report into homelessness lays bare the legacy of human waste caused by the callous indifference and intellectual vacuity of Compassionate Conservatism, a Tory creed – promoted by David Cameron – where responsibility shifted from the state to individuals, families and communities.
Looking at the NAO’s assessment of the cack-handed way that the housing safety net was handled, this “philosophy” appears an empty political slogan designed to shield the Tory party from the charge it was balancing the budget on the backs of the poor. It’s no surprise that a mixture of high rents and welfare cuts put people out on the streets. Rough sleeping more than doubled since 2010. The numbers of households in temporary accommodation rose by 60%.
It is shocking that ministers were not curious about the effects of their policies and did not commission full impact assessments. Nothing but the slogan has changed with Theresa May. Her Homelessness Reduction Act will give councils responsibility for preventing homelessness but offers very little cash to help them to do so. The legacy of Compassionate Conservatism is the very wealthy being cast as victims of government tax collectors while poorer voters are exploiters to watch out for."
'The Guardian' argues that the rising tide of rough sleeping and families ending up in temporary accommodation should have alerted the government to the effects of its policies. It’s shocking that no one seemed curious about this hardship! What is to be done, Uncle Henry?
Last Edit: Sept 14, 2017 1:51:26 GMT -5 by kleinesc
Good morning to everyone reading 'The Third' today! To all those who survived the Queen of Spades last weekend, congratulations! So as the UK economy slumps towards 2020, Alistair, what are the prospects for the housing market over the coming years? The London 'Times' leads today with some editorial comment on just the facts.
"Before it is eventually demolished, Grenfell Tower is to be covered with an enormous tarpaulin. In part this is intended to contain the dust of human remains that may still be inside. Of the 80 people estimated to have perished in the blaze three months ago, only 57 have been identified. The tarpaulin will also obscure the tower’s charred exterior from view, but the fire that consumed it will not be forgotten and cannot be allowed to be repeated.
The main purpose of the official inquiry into the disaster, which started yesterday, must be to make clear, practical recommendations applicable to the rest of Britain’s high-rise social housing stock to make it safe. In addition the process should provide a measure of accountability, addressing key questions for residents of social housing everywhere ... "
'The Times' thunders that the Grenfell victims need answers but a politicised inquiry won’t deliver them. Who will?
Good morning to everyone reading 'The Third' today! To all those who survived the Queen of Spades last weekend, congratulations! So as the UK economy slumps towards 2020, Alistair, what are the prospects for the housing market over the coming years? Writing in today's London 'Times', Anne Ashworth assesses a mixed picture for the housing market this autumn.
"The housing market’s ability to spring surprises is one of the many reasons for the British fixation with every aspect of property. Earlier in the year, it was thought that, by mid-September, weaker property values would be the norm in every region. Instead, to the chagrin of those who were expecting mass price subsidence, the market is proving to be more resilient than some (not just the perennial miserabilists) were expecting.
As a result, there may still be modest growth this year; PWC, the accountant, is forecasting a 4 per cent increase. At present, the average price is 5 per cent higher than 12 months ago, as the Office for National Statistics (ONS) highlights. This is thanks to a scarcity of homes for sale ... "
So put all your homes on the market now, zorro. What about the legendary babe, prudence? Have you got anything left to sell?
In some ways Sandra Planchez’s project in Nantes is unspectacular, reports Edwin Heathcote in the FT. It takes on board the slightly Flemish aesthetic currently fashionable in architecture, the dark grey brick punched through with metal-encased openings and the irregular façades and composition familiar from the pages of international design journals. And in some ways I could have picked almost any of the designs for new housing on the huge former Alstom site on Nantes’ Ile de Nantes. But the more you look around what has been a remarkable regeneration, the better this unassuming project looks.
This was the city’s heavy-engineering quarter, full of shipyards, engineering workshops, warehouses and huge industrial sheds. Some of these have survived — like the one about to reopen as the Ecole des Beaux Arts next door; others have left only traces. The problem here has been the weaving of new connective tissue around the island, the material to make a city. Despite the presence of a thriving (and architecturally brilliant) architecture school by Lacaton & Vassal and some quirky office buildings (including an emerging legal quarter), this new neighbourhood doesn’t feel at all like a neighbourhood. What the architects of Unik have done is to create a series of buildings that successfully mix uses to seed a space where it can begin to behave like a real city.
As a result, there are spaces for new shops on the ground floor (there is, oddly, hardly any retail accommodation around here), commercial space on the lower floors and a mix of for-sale and socially rented accommodation above. The whole thing is crowned by a roof garden that is shared between all the inhabitants of the building, without differentiating or limiting access, so that it functions as a real communal space.
The buildings are flat fronted but there are balconies and bridges, and the rooftops are differentiated through a more domestic articulation. Metal-clad, house-like structures are recessed behind the street façades, reducing the buildings’ mass and creating a new rooftop realm. The architects have managed to negotiate the difficult switch of scales between the industrial and the domestic, the institutional and the public.
To see how difficult this can be, it is only necessary to look at London’s Docklands or Hamburg’s HafenCity, where a desire to create urban density has often led to an overwhelming yet still somehow bland architecture, which strangles the streetscape rather than animating it.
This is unassuming, unspectacular and workmanlike, but in creating that framework, it is also modest and intelligent enough to allow the city to grow and adapt around and through it. Like the best buildings, it embodies a microcosmic urbanity. Sometimes architecture just needs to become background.
Nantes ([n??t] ( listen)) (Gallo: Naunnt or Nantt (pronounced [n??t] or [n???t]); Breton: Naoned (pronounced [?n??wn?t])) is a city in western France on the Loire River, 50 km (31 mi) from the Atlantic coast. The city is the sixth-largest in France, with a population of nearly 300,000 in Nantes and an urban area of 600,000 inhabitants. With Saint-Nazaire, a seaport on the Loire estuary, Nantes forms the main north-western French metropolis. It is the administrative seat of the Loire-Atlantique département and the Pays de la Loire région, one of 18 regions of France. Nantes belongs historically and culturally to Brittany, a former duchy and province, and its omission from the modern Brittany région is controversial.
Nantes was identified during classical antiquity as a port on the Loire. It was the seat of a bishopric at the end of the Roman era before it was conquered by the Bretons in 851. Although Nantes was the primary residence of the 15th-century dukes of Brittany, Rennes became the provincial capital after the 1532 union of Brittany and France. During the 17th century, after the establishment of the French colonial empire, Nantes gradually became the largest port in France and was responsible for nearly half of the 18th-century French Atlantic slave trade. The French Revolution resulted in an economic decline, but Nantes developed robust industries after 1850 (chiefly in shipbuilding and food processing). Deindustrialisation in the second half of the 20th century spurred the city to adopt a service economy.
In 2012, the Globalization and World Cities Research Network ranked Nantes as a Gamma world city. It is the fourth-highest-ranking city in France, after Paris, Lyon and Marseilles. The Gamma category includes cities such as Algiers, Orlando, Porto, Turin and Leipzig. Nantes has been praised for its quality of life, and it received the European Green Capital Award in 2013. The European Commission noted the city's efforts to reduce air pollution and CO2 emissions, its high-quality and well-managed public transport system and its biodiversity, with 3,366 hectares (8,320 acres) of green space and several protected Natura 2000 areas.
Nantes' cityscape is primarily recent, with more buildings built during the 20th century than in any other era. The city has 122 buildings listed as monuments historiques, the 19th-ranked French city. Most of the old buildings were made of tuffeau stone (a light, easily-sculpted sandstone typical of the Loire Valley) and cheaper schist. Because of its sturdiness, granite was often used for foundations. Old buildings on the former Feydeau Island and the neighbouring embankments often lean because they were built on damp soil.
Nantes has a few structures dating to antiquity and the early Middle Ages. Remnants of the third-century Roman city wall exist in the old town. The Saint-Étienne chapel, in the Saint-Donatien cemetery outside the city centre, dates to 510 and was originally part of a Roman necropolis. The Roman city walls were largely replaced during the 13th and 15th centuries. Although many of the walls were destroyed in the 18th century, some segments (such as Porte Saint-Pierre, built in 1478) survived.
Several 15th- and 16th-century half-timbered houses still stand in Le Bouffay, an ancient area corresponding to Nantes' medieval core which is bordered by Nantes Cathedral and the Castle of the Dukes of Brittany. The large, Gothic cathedral replaced an earlier Romanesque church. Its construction took 457 years, from 1434 to 1891. The cathedral's tomb of Francis II, Duke of Brittany and his wife is an example of French Renaissance sculpture. The Psallette, built next to the cathedral about 1500, is a late-Gothic mansion. The Gothic castle is one of Nantes' chief landmarks. Begun in 1207, many of its current buildings date to the 15th century. Although the castle had a military role, it was also a residence for the ducal court. Granite towers on the outside hide delicate tuffeau-stone ornaments on its inner facades, designed in Flamboyant style with Italianate influence. The Counter-Reformation inspired two baroque churches: the 1655 Oratory Chapel and Sainte-Croix Church, rebuilt in 1670. A municipal belfry clock (originally on a tower of Bouffay Castle, a prison demolished after the French Revolution) was added to the church in 1860.
After the Renaissance, Nantes developed west of its medieval core along new embankments. Trade-derived wealth permitted the construction of many public monuments during the 18th century, most designed by the neoclassical architects Jean-Baptiste Ceineray and Mathurin Crucy. They include the Chamber of Accounts of Brittany (now the préfecture, 1763–1783); the Graslin Theatre (1788); Place Foch, with its column and statue of Louis XVI (1790), and the stock exchange (1790–1815). Place Royale was completed in 1790, and the large fountain added in 1865. Its statues represent the city of Nantes, the Loire and its main tributaries. The city's 18th-century heritage is also reflected in the hôtels particuliers and other private buildings for the wealthy, such as the Cours Cambronne (inspired by Georgian terraces). Although many of the 18th-century buildings have a neoclassical design, they are adorned with sculpted rococo faces and balconies. This architecture has been called "Nantais baroque".
Most of Nantes' churches were rebuilt during the 19th century, a period of population growth and religious revival after the French Revolution. Most were rebuilt in Gothic Revival style, including the city's two basilicas: Saint-Nicolas and Saint-Donatien. The first, built between 1844 and 1869, was one of France's first Gothic Revival projects. The latter was built between 1881 and 1901, after the Franco-Prussian War (which triggered another Catholic revival in France). Notre-Dame-de-Bon-Port, near the Loire, is an example of 19th-century neoclassicism. Built in 1852, its iconic dome was inspired by that of Les Invalides in Paris. The Passage Pommeraye, built in 1840–1843, is a multi-storey shopping arcade typical of the mid-19th century.
Industrial architecture includes several factories converted into leisure and business space, primarily on the Isle of Nantes. The former Lefèvre-Utile factory is known for its Tour Lu, a publicity tower built in 1909. Two cranes in the former harbour, dating to the 1950s and 1960s, have also become landmarks. Recent architecture is dominated by postwar concrete reconstructions, modernist buildings and examples of contemporary architecture such as the courts of justice, designed by Jean Nouvel in 2000.
As for somewhere to stay the night, try neighbouring Angers! Bang in the middle of decent-sized, pleasant town”, behind the Hôtel de Ville, is this converted 17th century Ursuline convent, now a B&B hotel. A visitor found it “peaceful, efficiently run and reasonably priced”. Rooms are simply furnished and a little worn around the edges, but are spacious and charming; the bright large lobby is welcoming. Staff go out of their way to make guests’ stay enjoyable. There is secure parking, but cars need to be parked by 10.30pm. The continental breakfast buffet includes cereals, pastries, yoghurts but no meats or eggs. There’s no lift but rooms are available on the ground floor. For meals try La Ferme (“packed with serious local eaters”).
Good morning to everyone reading 'The Third' today. I trust that all is well with all of you. 'The Daily Telegraph' leads today with some editorial comment that the Grenfell inquiry must be impartial.
"The inquiry into the Grenfell Tower fire in June opened yesterday with a sober and well-balanced statement from the presiding judge, Sir Martin Moore-Bick. His task, he said, was “simply to get to the truth with the help of all those who have relevant evidence to give”. The process, he added, “should be seen as essentially cooperative”.
Yet ever since Sir Martin was appointed, there has been more condemnation than cooperation. It has been implied that he is the wrong colour and class to investigate a tragedy that exposed tensions around both. But Sir Martin is the right person to conduct this inquiry precisely because he can set out to discover what happened without the sense of injustice and grievance felt by those directly involved. He was right to turn down a suggestion that a survivor of the inferno should join his team of assessors because it would “risk undermining my impartiality” ... "
'The Telegraph' transmits that Kensington MP (Labour) Emma Dent Coad consoles a Grenfell resident outside the Grenfell Inquiry in London yesterday. What is to be done, Uncle Henry?
Last Edit: Sept 15, 2017 0:20:48 GMT -5 by kleinesc
Good morning to everyone reading 'The Third' today! To all those who survived the Queen of Spades last weekend, congratulations! So as the UK economy slumps towards 2020, Alistair, what are the prospects for the housing market over the coming years?
I would guess a substantial downturn that might in part be mitigated by people from outside UK purchasing property at prices advantageous to them because of the continuing fall in the value of the British pound.
Last Edit: Sept 21, 2017 4:29:26 GMT -5 by ahinton
Post by Uncle Henry on Sept 15, 2017 4:09:08 GMT -5
It was announced on 29 June 2017 that Moore-Bick would lead a public inquiry into the Grenfell Tower fire. On 29 and 30 June it was widely-reported that the tenant's solicitor in the case against Westminster City Council had said, after Moore-Bick's ruling, that it gave "the green light for social-cleansing of the poor on a mass-scale". The local Labour MP, Emma Dent Coad, said on 4 July that local people have no confidence in Moore-Bick and that he should stand down.
On 25 July, at the second public meeting held by the Inquiry before finalisation of its terms of reference, Moore-Bick faced further calls for his resignation, many residents saying that he did not represent them. In response, Moore-Bick said that he was qualified to lead the investigation, because in his 20 years as a judge, he had looked into "the sort of problems that have to be considered in relation to this fire." He promised that the inquiry would consider the deregulation of fire safety standards, as well as the multi-million pound refurbishment to Grenfell Tower. "We are going to investigate and find the facts in relation to the whole course of events." he said.
Have you ever fancied living in the middle of the historic City of London? There is a 2 Bedroom Flat For Sale in Trinity Square City Of London for £900,000 at Trinity Square City Of London EC3N for £900,000. Rarely available to the market is this wonderful two bedroom two bathroom apartment in a grand period building in Trinity Square, one street away from the Tower of London.
Overlooking the new Four Seasons Hotel, this apartment is well presented with high ceilings throughout and a spacious reception room which is perfect for entertaining. The two bedrooms are of generous proportions, with the master bedroom having an ensuite bathroom and built-in wardrobes.
Situated on the second floor, on the favoured rear facing side of the building away from the main road, the building has recently had its grand entrance hall and communal parts refurbished throughout. Occupants have the right to obtaining a parking permit in the Corporation of London car park across the road.
There are very few locations in London as desirable as this and with 2017 bringing completion of one of London's most luxurious hotels on the same street at the adjacent 10 Trinity Square, which will greatly raise the profile of the area once completed, making this flat a must-have for any discerning City buyer.
Trinity Square is located at the eastern edge of the Square Mile, making it ideal for anybody wanting a short walk to work in the City. It is situated minutes from Tower Hill (Circle and District Line) tube station and is in sight of The Tower of London and Tower Bridge. It is also within easy reach of both Fenchurch Street and Docklands Light Railway, giving access to those working in Canary Wharf.
"Next to Tower of London 2nd Floor Lift-Serviced Period Building 866 Sq Feet Service Charge - £4000 pa Approx Ground Rent - £150 pa Lease Length - 250 Years From March 97 Rental estimate £600-625pw."
I commend the investment to everyone reading 'The Third' this weekend. How about retiring to the heart of the City of London, Uncle Henry?
Last Edit: Sept 15, 2017 20:38:56 GMT -5 by kleinesc
Good evening, once again, to everyone reading 'The Third'. As the UK economy slumps towards 2020, what are the prospects for the housing market over the coming decades? Prospects remain good, particularly as demand continues to outstrip supply in the United Kingdom (UK).
"Fashionistas have decreed that red is the colour of autumn and if the catwalk shows have got it right, you can expect to see women clothed head-to-toe, pillar box-style, in the hue. But how can you translate the trend into home interiors, without your rooms looking like a flashback to the Eighties, or scarily gothic and womb-like? The answer is to add grey.
Gerald Jones, the managing director of Masterclass Kitchens, says: “We have introduced a range of bold colours; blue, pink, orange, lime green and red. The red is called Claret and we have given it, and all our bright colours, a heritage feel by adding a small, subtle, grey undertone. This is crucial; this undertone makes it current and fashionable ... "
Why not the more garnet shade of burgundy?
Last Edit: Sept 16, 2017 14:13:19 GMT -5 by kleinesc
Good evening, once again, to everyone reading 'The Third'. As the UK economy slumps towards 2020, what are the prospects for the housing market over the coming decades? Prospects remain good, particularly as demand continues to outstrip supply in the United Kingdom (UK).
"Q We have a 999-year lease of a top-floor flat, but we share the freehold of the building with the owner of the flat below. We want to convert the loft space above our flat into a bedroom. Apart from planning permission, do we need anything else?
A Although you own half the freehold, restrictions in your lease still apply. The difficulty is that most leases of flats exclude the main structure and exterior of the building from the land “demised” to the leaseholder. These do not include any roofs or roof voids retained by the freeholder. Building on land that still belongs to the freeholder is a trespass, so if you don’t already own the loft space you will need permission ... "
Loft conversions are a lucrative way of adding value, maybe 10%, to the value of your home!
Last Edit: Sept 16, 2017 15:13:42 GMT -5 by kleinesc
Good morning to everyone reading 'The Third' today! To all those who survived the Queen of Spades last weekend, congratulations! So as the UK economy slumps towards 2020, Alistair, what are the prospects for the housing market over the coming years? Writing in 'The Sunday Times', Hugh Graham, Emma Wells and Graham Norwood all ask whether the housing market is about to crash? Here’s how to beat it, Uncle Henry! Prices slashed, offers scarce, outlook murky: 53% of Britons expect a housing crash in the next five years, Alistair, but it’s not bad news for everyone.
"Reduction, reduction, reduction is fast becoming the estate agent’s new mantra. It doesn’t matter what the location, if a property has failed to go under offer, or even stretch to a viewing a month, then the odds are that the price needs cutting. Brochures, if they are still produced, no longer state the guide price, as it’s too costly to reprint for every downward adjustment; and vendors are switching property portals to tempt new audiences.
One third of sellers have already been forced to cut their asking price last month, as the property market stalls. And 33% of UK homes on the property portal Zoopla were originally listed for more money before their prices were trimmed, according to the firm’s research ... "
So house prices are about to fall? Only if the supply increases significantly will the market begin to panic. Wait and see? Writing in 'The Telegraph', Isabelle Fraser reports that activity in the housing market is continuing to flatline, according to the Royal Institution of Chartered Surveyors, but there were signs that price growth could pick up. Its monthly residential market survey found there was a slight uptick in the number of respondents who were positive about price growth nationally in August, but that was deeply divided by location.
In London, the South East, the North and East Anglia, respondents reported that asking prices were falling, while in Northern Ireland, the North West, Scotland, and the South West, the outlook was more positive. In Central London, respondents were the most negative about price growth since 2008, and prices are expected to pick up everywhere in the next 12 months except the capital.
For the ninth straight month there was little change to the record low levels of buyer inquiries, and the number of agreed sales has not grown since November last year. The level of supply also fell slightly, nearing a record low. It also found that 61pc of those polled said that they expect more landlords to exit the market in the next 12 months, due to changes to stamp duty and mortgage interest tax relief, in a bid to squeeze out buy-to-let investors. Research by Direct Line found that they are paying on average £6,500 more now on stamp duty with each additional property they purchase.
Rics’ survey is a helpful indicator for the direction of the housing market. Those surveyed also forecast that over the next five years, average annual rental growth of 3pc will outpace that of house prices, at 2pc. Simon Rubinsohn, Rics' chief economist, said: “The latest results continue to suggest that the greatest pressure on both prices and activity continues to be felt in prime central London market. Although there are some signs that the wider South East is also losing some momentum, anecdotal evidence suggests the impact is very location specific. Meanwhile the numbers for most other parts of the country point to a rather more resilient marketplace.”