The London Rents Map shows average private sector rents for different types of home across London. Mayor Boris Johnson said the website, which he described as a ‘brilliant one-stop shop' for both landlords and tenants, is part of his efforts to support London's private rented sector.
Mr Johnson said, "It is hugely important for London's economy, diversity and dynamism to have a thriving private rented sector, which accommodates people from all walks of life and encourages newcomers to the capital.
"We know that people looking to rent sometimes don't know where to go for the right information, so this new website is about supporting the market by making that information available," Mr Johnson added.
Simply type in a postcode, borough, or Tube station and the website will list the average price per week for any size of private property, from a room in a shared flat up to a four-bedroom pad.
The data on average rents is given at postcode district level (SW19 or E7, for example), and is based on a sample covering the last 12 months so does not fully reflect the most recent short-term trends in the market.
Monday, 25 January 2010
Now May Be the Time to Get Out of London?
As London prices recover, it’s the best time in a decade to cash in and escape to the country.
If this is the year you’re planning the big move out of London to greener pastures, or at least prettier provinces, you’ve picked the right time. Property prices in the capital are recovering well ahead of those in the rest of the nation, which gives you a chance to swap your semi in the metropolis for something detached with an acre or two, or a handsome house in a smart town where the schools are good, before the gap narrows and the pick-up eventually spreads.
This isn’t the first time the rest of the country has lagged behind London. House prices rose rapidly in the capital between 1995 and 2000, then increased elsewhere from 2000 to 2005; so the ideal time to cash in on a property in the big smoke was 1999.
The Times
If this is the year you’re planning the big move out of London to greener pastures, or at least prettier provinces, you’ve picked the right time. Property prices in the capital are recovering well ahead of those in the rest of the nation, which gives you a chance to swap your semi in the metropolis for something detached with an acre or two, or a handsome house in a smart town where the schools are good, before the gap narrows and the pick-up eventually spreads.
This isn’t the first time the rest of the country has lagged behind London. House prices rose rapidly in the capital between 1995 and 2000, then increased elsewhere from 2000 to 2005; so the ideal time to cash in on a property in the big smoke was 1999.
The Times
Friday, 22 January 2010
Houses 'Are Less Affordable' Than 50 Years Ago
Houses are less affordable than 50 years ago although the quality of homes has improved, according to the Halifax.The lender, now owned by Lloyds Banking Group, said that over the last five decades UK house prices have risen by 2.7% a year, allowing for inflation.
This was above the 2% annual increase in real earnings over the same period.
Prices increased the most in the last decade, and separately lenders warned that lending to first-time buyers would be constrained for "some time to come".
Four big house price booms have occurred in the last 50 years, the research concluded. They were: 1971-73, 1977-80, 1985-89, and 1998-2007.Over the last 50 years, the biggest rise in prices was in greater London, whereas the smallest increase was in Scotland. This might have been mitigated, to a degree, by an increase in homes with two incomes rather than just one.
In a sign that buyers might be getting more for their money now, the proportion of households without an inside toilet fell from 14% in 1960 to 0.2% in 1996.
This was above the 2% annual increase in real earnings over the same period.
Prices increased the most in the last decade, and separately lenders warned that lending to first-time buyers would be constrained for "some time to come".
Four big house price booms have occurred in the last 50 years, the research concluded. They were: 1971-73, 1977-80, 1985-89, and 1998-2007.Over the last 50 years, the biggest rise in prices was in greater London, whereas the smallest increase was in Scotland. This might have been mitigated, to a degree, by an increase in homes with two incomes rather than just one.
In a sign that buyers might be getting more for their money now, the proportion of households without an inside toilet fell from 14% in 1960 to 0.2% in 1996.
Monday, 18 January 2010
Proportion of Income Needed for New Mortgages at Five-Year Low
Home buyers in November needed to use less of their income to cover their mortgage interest than at any time for more than five years, according to new data released today by the Council of Mortgage Lenders.
In particular, home movers are experiencing a low debt burden by historical standards. They typically needed only 10.6% of gross income in November 2009 to cover mortgage interest payments, down from 11.1% in October. Other than a brief low of 10.2% in the middle of 1996, this is the lowest debt burden on home movers since the CML started recording this data in 1974.
The debt burden on first time buyers also reduced, with 14.4% of gross income needed in November, down from 15.1% in October - the lowest it has been since May 2004.
For charts and more Click here
In particular, home movers are experiencing a low debt burden by historical standards. They typically needed only 10.6% of gross income in November 2009 to cover mortgage interest payments, down from 11.1% in October. Other than a brief low of 10.2% in the middle of 1996, this is the lowest debt burden on home movers since the CML started recording this data in 1974.
The debt burden on first time buyers also reduced, with 14.4% of gross income needed in November, down from 15.1% in October - the lowest it has been since May 2004.
For charts and more Click here
Friday, 15 January 2010
Wednesday, 13 January 2010
Five Buyers for Every House on the Market
For every property on the market there are five potential buyers looking to snatch it up, new research has discovered.
A study by the National Association of Estate Agents (NAEA) found estate agents had an average of 287 prospective buyers on their books in October.The average number of properties available at estate agents was 57.
The high demand has bumped up prices slightly, but has not translated into sales.
House prices increased 1.2% in October, but estate agents sold an average 7.7 properties each during the month, down from 8.5 in September.
Gary Smith, NAEA president, said: “There is strong demand for property and more optimism in the housing market than we have seen for months.“This is good news for the recovery of the market and for the British economy in general.”
First time buyers accounted for 22% of sales in October, down from 26% in September, but more than double the proportion of first time buyers in October 2008.
A study by the National Association of Estate Agents (NAEA) found estate agents had an average of 287 prospective buyers on their books in October.The average number of properties available at estate agents was 57.
The high demand has bumped up prices slightly, but has not translated into sales.
House prices increased 1.2% in October, but estate agents sold an average 7.7 properties each during the month, down from 8.5 in September.
Gary Smith, NAEA president, said: “There is strong demand for property and more optimism in the housing market than we have seen for months.“This is good news for the recovery of the market and for the British economy in general.”
First time buyers accounted for 22% of sales in October, down from 26% in September, but more than double the proportion of first time buyers in October 2008.
Monday, 11 January 2010
Terrapins In Hampstead Heath Ponds
51 terrapins and turtles, from five different species, were recently removed from a single pond in a north London park after the local authority called in a specialist trapper. Two years ago, a colony of 150 of the creatures was removed from the 25 ponds on Hampstead Heath and re-homed at a sanctuary in Tuscany.
The result is a double headache for conservation groups as they try to control the problem by trapping and removing the unwanted invaders but struggle to find new homes for the captives because of their longevity (some species can live for up to 50 years) and the costs of running a dedicated aquarium. One sanctuary receives unwanted animal at a rate of six a week.
John Baker, of the Amphibian and Reptile Conservation (ARC) Trust, said: "When these animals are bought as babies they seem attractive pets. But they grow to a significant size and people think it is OK to take them to their nearest body of water and release them into places where they prey on native species and can spread disease.
The result is a double headache for conservation groups as they try to control the problem by trapping and removing the unwanted invaders but struggle to find new homes for the captives because of their longevity (some species can live for up to 50 years) and the costs of running a dedicated aquarium. One sanctuary receives unwanted animal at a rate of six a week.
John Baker, of the Amphibian and Reptile Conservation (ARC) Trust, said: "When these animals are bought as babies they seem attractive pets. But they grow to a significant size and people think it is OK to take them to their nearest body of water and release them into places where they prey on native species and can spread disease.
Saturday, 9 January 2010
Boris Johnson In West Hampstead On London Gritting Operations
Councils across London are facing shortages after not receiving deliveries of grit which have been on order since before Christmas and some, including Barnet, have had to scale back their gritting operations.
London Mayor, Boris Johnson did a short tour of West Hampstead with Conservative parliamentary candidate for Hampstead and Kilburn Chris Philp culminating in a Q&A with residents in a coffee shop.
He said: “There is a shortage of grit in London. We have a crisis and I want to send Gordon Brown to the salt mines now to sort out the delivery of salt. In London we are not getting enough.
“The government needs to get a grip on salt and deliver it to London which is the motor of the country’s economy.“We are doing everything we can to keep the tubes moving but we do face more snow coming over the next few days.”
London Mayor, Boris Johnson did a short tour of West Hampstead with Conservative parliamentary candidate for Hampstead and Kilburn Chris Philp culminating in a Q&A with residents in a coffee shop.
He said: “There is a shortage of grit in London. We have a crisis and I want to send Gordon Brown to the salt mines now to sort out the delivery of salt. In London we are not getting enough.
“The government needs to get a grip on salt and deliver it to London which is the motor of the country’s economy.“We are doing everything we can to keep the tubes moving but we do face more snow coming over the next few days.”
West End Lane Books Event
Award-winning author Gill Gregory will be reading from her acclaimed book, The Sound of Turquoise, at West End Lane Books on Thursday 21st January at 8pm, entrance is free and refreshments will be provided.
The Sound Of Turquoise follows the author's grandfather's escape from pre-revolutionary Russia and his subsequent self-reinvention as a society figure in London.
'A mesmerising story...a book in which pain is gloriously transformed into gentle reconciliation'
To book your place, please call 0207 431 3770 or email info@welbooks.co.uk
The Sound Of Turquoise follows the author's grandfather's escape from pre-revolutionary Russia and his subsequent self-reinvention as a society figure in London.
'A mesmerising story...a book in which pain is gloriously transformed into gentle reconciliation'
To book your place, please call 0207 431 3770 or email info@welbooks.co.uk
Thursday, 7 January 2010
Snow and Boy George In Hampstead
Boy George rushed out to buy essential supplies to cope with the heavy snow that has fallen in the UK.
He made sure he was prepared for the heavy snowfall that has hit London in the last two days by stocking up on essential goods.
He tweeted: "Hampstead is glorious, been to local shop for supplies, people are smiling. The snow is seriously heavy up on the hill in Hampstead. London is really in for it!"
He made sure he was prepared for the heavy snowfall that has hit London in the last two days by stocking up on essential goods.
He tweeted: "Hampstead is glorious, been to local shop for supplies, people are smiling. The snow is seriously heavy up on the hill in Hampstead. London is really in for it!"
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