It's the kind of property where you feel you might have to breathe in when you enter the door – this slimline property in south-east London is reckoned to be one of the narrowest in town, measuring just 99 inches, or 8ft 3 across, at its widest part. It gets even skinnier at the back, where the galley kitchen is a mere 62 inches, or 5ft 2 across, but despite its slender proportions, the 466sq ft property in Denmark Hill was put on the market for £450,000.
Concern has been growing over rising house prices, with the business secretary, Vince Cable, and Bank of England governor, Mark Carney, among the latest to express fears that recent increases may be a risk to the economy.
This map, based on data from the department for communities and local government, shows how English house prices have risen since 1997 relative to earnings. At the beginning of the period the average house in most areas could be bought with six years' average earnings. By the latest figures, the multiple was 10 times or more in large areas of the country
The UK’s biggest onshore wind farm public inquiry is now in the finishing straight at a hotel in Welshpool where Wales’ longest-ever planning hearing has been considering proposals for five onshore wind farms and a 132kV connection to the power grid in Powys, mid-Wales.
The Mid Wales (Powys) Conjoined Wind Farms Public Inquiry began last June. On 20 May the hearing started to consider final submissions before the year-long proceedings come to a close.
Sales of let farmland are the exception in Scotland. Most let farmland exchanges privately in off-market transactions and of those, the vast majority involve either the sitting tenant acquiring their farm from their landlord or vice versa, writes Bell Ingram director Mark Mitchell.
Of the let land sold in Scotland in any year, the majority are farms subject to secure agricultural tenancies where the basis of value is well established, but there are also a small number of sales of land occupied on limited duration tenancies (LDTs) and short limited duration tenancies (SLDTs).
Property website firm Zoopla has announced it intends to sell shares on the London Stock Exchange.
The Zoopla group includes the websites PrimeLocation, SmartNewHomes and HomesOverseas websites.
UK mortgage lending in April was 36% higher than a year ago, a lenders' group says, as a major bank moves to cool the housing market in London.
Gross lending was up 8% compared with March to an estimated total of £16.6bn, according to the Council of Mortgage Lenders (CML).
The figures come shortly after Lloyds Banking Group said it would limit lending for higher-value homes.
The governor of the Bank of England has put on record his concern that the greatest risk to the UK's recovery are the red-hot conditions in the London property market, the potential for contagion to the rest of the country, and the associated risk that banks may be lending recklessly.
House prices are rising at their fastest rate in more than six years and have climbed 8.9% year on year, adding to worries about the property boom as the Bank of England governor became the latest senior figure to express concern.
Mark Carney warned on Sunday that the housing market posed the biggest risk to Britain's economic recovery as a shortage of new homes drives up prices.
Zoopla is to go ahead with a flotation on the London Stock Exchange, it was announced this morning.
It will be offering discounted shares to agents and developer subscribers – with the total discount worth almost £20m.
The 20% discount is, said Zoopla, “designed to reward past and future customer loyalty”and will allow each current member to purchase shares now and next year at the discount per branch.
Britain’s largest estate agency chain, Countrywide, has appointed its next group chief executive.
She is Alison Platt, who takes up her role on September 1, subject to the approval of the Financial Conduct Authority. She is Countrywide’s first woman chief, and will be the only female heading up any of the large corporates.
She will instantly become the most powerful woman in the residential property sector, overseeing Countrywide’s wide range of activities from sales and lettings through to mortgages, surveying and conveyancing.
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