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Half a million home sales set to be 'lost' in 2020 - Mortgage Solutions Half a million home sales are set to be ‘lost’ in 2020 from the fallout of the coronavirus, according to forecasts.

London marathon this Sunday 🏃‍♀️ 🏃‍♂️ 🏃‍♀️ 🏃‍♂️
Good luck to all who take part from Madox 😊👍

Fulham FC will redevelop its Riverside Stand to increase the capacity at its Craven Cottage stadium to 29,600. The work will also see the Thames Path opened for the first time, for pedestrians to walk from Hammersmith to Putney Bridge.

Nicola Sturgeon urged to start work on replacing council tax with 'garden tax' Nicola Sturgeon’s minority government will today come under pressure to start work shortly on replacing the council tax with a ‘garden tax’ that would see middle-class Scots pay hundreds of pounds more.

Fines of up to £30k for Airbnb-style short lets in pilot London scheme Kensington & Chelsea council says it is preparing a new licensing system after receiving 91 complaints in the last two years of homeowners renting out their property on short lets for more than the current maximum of 90 days a year. The council says that under the current rules it has only been able...

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Happy 2018 to all our customers from Madox 🎉👍

Formula One ace Lewis Hamilton buys £18m west London seven-bedroom mansion formerly owned by Burberry's chief designer
Formula One driver Lewis Hamilton has splashed out £18 million on a mansion in one of the country's most exclusive enclaves.

The seven-bedroom mansion in Kensington, west London was put on the market last month for a staggering £19.85 million by Burberry chief designer Christopher Bailey, 46, and his husband, actor Simon Woods, 37.
The pair had shared the home since 2013 when they bought it from financier and environmentalist Ben Goldsmith and his ex-wife, Kate Rothschild.

New in neighbourhood

The Prince at West Brompton Crossing The Prince at West Brompton Crossing is a new food and drink hub for Earl’s Court, comprising four restaurants, two bars and an enclosed garden.

Beautiful penthouse for sale in Battersea Reach, please text for more details

From two pizzas to a £17m mansion: Bubble fears over Bitcoin's soaring value...
Tom Cheshire, Technology Correspondent
In 2010, Laszlo Hanyecz made the first purchase of physical goods using Bitcoin.
He paid 10,000 Bitcoin for two pizzas.
Five thousand Bitcoin per pizza seemed like a fair deal at the time.
Today, the same amount would buy you a Notting Hill mansion, valued at £17m. In fact, the sellers of 4 Stanley Gardens will only accept bids in bitcoin - not pounds or dollars.
It's a long journey for the currency, long favoured by hackers and libertarians, and the de facto currency of the black market of the dark web.
Bitcoin was released in 2009 by the elusive Satoshi Nakamoto, who remains unidentified today.
Jon Matonis, founding director of the Bitcoin Foundation, worked with Satoshi in 2010.
He said that the bitcoin breakthrough was solving one particular problem.
He said: "The double spending problem is when you have digital currencies and the holder of that digital currency can spend it multiple times without the recipient knowing that it had already been previously spent.
"It's one of the things that prevented digital currency and digital cash from taking off in the 1990s.
"So along comes bitcoin with Nakamoto consensus and in a decentralised way, everyone consolidates a consensus around the blockhain, which is a truth ledger of which bitcoins have been spent and which ones have not been."
The blockchain is what underpins Bitcoin. It works because every computer that makes up the bitcoin network keeps track of every bitcoin transaction in the world, keeping everyone honest.

The foundational nature of bitcoin made it an attractive investment, as Dominic Frisby, the author of Bitcoin: The Future of Money?, told Sky News: "What Bitcoin is, is a protocol. If you think when you type in a website address, you will see the words, HTTP before the website address - and that stands for hypertext transfer protocol.
"And that is the protocol by which information is exchanged over the internet.
"Now imagine if you could own shares in http, how rich would you become? Even now, 20 years after the internet entered the mainstream, it's growing all the time.
"Bitcoin is another protocol, but it's not to exchange emails, it's not to exchange information - the purpose of the protocol is to exchange payments.
"So effectively, you are owning stock in the internet of money. And how much money do we exchange?"
Investors piled in and the value of bitcoin soared, from pennies to thousands of pounds.
That makes some think the good times can't last forever.
Kadhim Shubber, a Financial Times reporter, is worried: "Bitcoin is definitely in a bubble. If you look at how much it's gone up every year, it's about 600%.
"You have to ask yourself the question, is it used by 600% more people, it 600% more useful?
"I think people should be worried and I think regulators should be worried. It's not just the wealthy and rich investing in these things.
"We're seeing celebrities endorse these projects, we're seeing ordinary people invest some of their savings, some of their income in these projects. And when it goes bust, those people are going to get hurt."
If you do have a few thousand Bitcoin spare, and were looking to cash out - well, a very large house, made out of bricks and mortar, might be just the thing.
By Sky

London's property market will not shake off its slump until 2021, when it will return to being the fastest growing part of the UK, economists have predicted.

Average prices in the capital have fallen for the first time since the financial crisis this year, amid fears that the housing market could stagnate when the UK leaves the European Union in 2019.

House price growth has slowed across the board since the Brexit vote last June, but forecasts by KPMG Economics suggest momentum in the market will pick up again around the time the country leaves the EU.

The prospects of continued uncertainty associated with the Brexit, coupled with rising interest rates, could trigger further adjustments in UK house prices and moderate growth in most regions over the short term, KPMG said.
The after-effects of changes to stamp duty are also likely to stall growth in the market.

London house prices have been dampened by changes made to stamp duty in spring 2016, as they have had a significant impact on the buy-to-let market from the additional increase in duty.

However, KPMG's projections suggest property prices will start to pick up by 2019, and London will be the driving force behind growth in the market by 2021.

The capital has unique characteristics that make it more resilient to fluctuations than other regions in the UK, according to KPMG chief economist Yael Selfin.

"London's property market isn't just made up of people's homes. Foreign investors plough money into property in the capital as it is seen as a safe haven asset, and they will continue to do so after Brexit, especially if sterling remains weak.

"If the UK's exit from the EU is done in a positive way, we're likely to see demand for property in the capital rise as it will remain one of the most vibrant and exciting cities in Europe."

Outside London, developments such as Crossrail and Thameslink are likely to continue boosting sales in areas such as Reading and Brentwood, while improvements to regions' infrastructure should have positive impacts in other areas, with HS2 supporting sales in Birmingham, while cities in the north of England, such as Leeds, Sheffield and Manchester should benefit from Northern Powerhouse-related initiatives.

KPMG said its projections assumed that the Bank of England would increase interest rates next year, which will feed through into mortgage rates, affecting the affordability of borrowing and slowing down the rate of house price growth.

Other factors affecting the projections include trends in regional employment and population, which will affect the degree of housing shortages experienced across regions.

Selfin added: "With so much going on in the UK at the moment, some fear that the housing market will be the first to snap if the mood changes around the Brexit process or when interest rates start to rise.

"Our analysis however shows that with the exception of a few areas in the south such as London, house prices are not particularly high compared to long-term regional valuations. Our projections see a more orderly transition over the next five years, with house price growth moderating further next year before gradually picking up momentum again from 2019."

Separate figures from Halifax published today show that UK house prices in the three months to September were 4pc higher than in the same three months a year earlier, while month-on-month prices are up by 0.8pc.

While the quarterly and annual rates of house price growth have improved, they are lower than at the start of the year, the bank said. "UK house prices continue to be supported by an ongoing shortage of properties for sale and solid growth in full-time employment".

Mark Harris of mortgage broker SPF Private Clients, said: "The housing market shows no signs of faltering, despite the ongoing Brexit saga and hints from the Bank of England that interest rates will need to rise sooner rather than later."

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UK House Prices - August 2017 Overview

Brexit has caused a lot of uncertainty about the housing market over the past couple of months, but now opinions about this have started to shift.

According to Halifax, house prices have increased by 1.1 per cent from July, representing the largest month-on-month increases since December. In July they rose by 0.7 per cent after slumping 0.9 per cent in June.

The managing director of Halifax, Russell Galley stated that “Recent figures for mortgage approvals suggest some buoyancy may be returning,”

Russell also identified that house prices should continue to be supported by low mortgage rates and the continuing shortage of properties for sale.

We agreed that the house prices are increasing due to low property supply, although he predicts “its not a healthy position in the longer term”

Jonathan Hopper, managing director of Garrington Property Finders found truth in this statement and said that the “price rises are being driven by equilibrium rather than energy”


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Televisio Centre - White City
New development for students accommodation

Grosvenor House sold to tycoon
The former prime minister of Qatar and a New York property tycoon are close to a $1.2bn deal to take control of three luxury hotels, including Grosvenor House in London.

Hamad bin Jassim and Ben Ashkenazy are in talks with India’s Sahara Group, the embattled owner of the Dreams and Plaza hotels in New York and Grosvenor House. Sahara is trying to raise bail money for its founder, Subrata Roy, who is being pursued by India’s securities regulator.

Office Admin 👨‍💼 position in West Kensington office.

Hold the Shard-enfreude – a house price drop is not about to happen | Patrick Collinson Trouble at the luxury end of the market is matched by an overall slowdown in London. But a nationwide fall in prices is just not likely to follow • Patrick Collinson is money editor of the Guardian

Calling all Grand Designers: Scottish mansion with a walled garden and a tower could be yours for just £200k - if you're up for a renovation challenge
Less than half the price of a London home, this imposing mansion needs a lot spending on it but could become the perfect country retreat...

A grand Scottish house with its own tower and set in over three acres of grounds, including a listed walled garden, has gone on the market for less than half the price of the average London home.

Estate agents for six-bedroom Chesterhill House listed it a week ago, hoping for offers in excess of £200,000.

However, Moira Webley, of Bell Ingram in Perth, said interest had been so intense from would-be buyers from England that she now expects the listed property in Newport-on-Tay, Fife, to go for more than £300,000 under Scotland’s sealed bid system.
In London, the average sold price of a home rose to £482,000, so a budget of £200,000 doesn’t go far at all. However, it will buy you the taste of the high life in Chelsea in a one-bedroom flat on Chelsea Embankment. There is one minor catch - the lease is just two years.

A delightful harbourfront one-bedroom flat in St Ives, Cornwall, could also be yours for the same money, while it will also land you a fully furnished two-bedroom flat in central Manchester.

A RENOVATION CHALLENGE
Although the house might seem a bargain, the eventual buyer faces a steep bill for restoration because it is has lain empty for 12 years and has suffered the effects of not only the elements, but birds and squatters.

“It’s a bit of mess inside because it’s been empty for so long,” said Ms Webley. “It’s very overgrown outside - the property has a beautiful walled garden, which initially we couldn’t even find!

“All the plumbing has been damaged and the kitchen is in a mess, ceilings are down in places and floorboards are coming up, but luckily all the period features remain - ceiling roses, cornices, fireplaces and the like.”

The 5,300sq ft, three-storey grade C-listed house was built in a Tudor-Italianate style in 1870 on the southern shore of the Firth of Tay in Fife for a wealthy trader from Dundee. The west wing was completed about 40 years later.

Its splendid walled garden was created before the construction of the existing house and was the crowning glory of an earlier property that is believed to have burned down.

Ms Webley said: “The reason for the house being where it is is because it was a short ferry ride from Dundee city, where there were traders in jute and other goods. These people built nice houses just on the other side of the water. Of course, there’s a bridge now.”

The house was bought in 1970 by teachers Richard and Leslie von Goetz who both died over 10 years ago and the house has been empty since then.

The ground floor has four reception rooms - including a 21ft living room - and a kitchen, the lower ground floor has four rooms and a bathroom, while the first floor not only has the bedrooms but two bathrooms and a kitchenette. There is even an attic.

The imposing tower has retained its crenellations and offers wonderful views across the grounds and the surrounding forest, while the Tay is just a couple of miles away.

Fife is famous for its golf course, and Scotscraig club is just a couple of miles away, while the world-famous St Andrews is a short drive away.

The grounds include not only the walled garden but a set of detached garages, which are also in need of major repairs.

Despite the state of the house, Ms Webley added: “It’s only been on the market a week, but we’ve had a lot on inquiries, not just from interested buyers but for nostalgic reasons, too. Some people remember being taught by the schoolmasters who lived there.”

Carl Warden, of Bell Ingram, added: “It is in need of considerable upgrading but for anyone up to the challenge, it has endless potential to be transformed into an impressive, character-filled family home.”

Dundee, which is six miles across the Tay from the house, offers direct trains to King’s Cross in six hours, and there’s even the option of taking the sleeper train, which runs six times a week, leaving Dundee at 11pm and arriving in London just before 8am.

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