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Monday, October 7, 2019
Now is the time for the government to increase the supply of homes | Larry Elliott
A cut in stamp duty may be politically expedient for Sajid Javed, but it would be a big mistake
For anybody who has their home on the market, the news from the Halifax that property prices fell in September would not have come as an earth-shattering surprise. Perhaps more of a shock is that the UK’s biggest mortgage lender is still reporting that prices are up on the year, albeit modestly. It certainly doesn’t feel that way.
The last time house-price inflation was as low as 1.1% was in 2013 and back then the government took swift action. Lenders received incentives to lend to those buying a home, while the Help-to-buy scheme from the Treasury boosted demand by helping potential buyers get on the housing ladder.
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Charlotte Perriand: the design visionary who survived Le Corbusier's putdowns
From saw-toothed ski resorts to radical recliners, her bold creations caused a sensation. But Le Corbusier took the credit for some of her finest work. Now Charlotte Perriand is finally getting her due
In 1927, a young Parisian designer named Charlotte Perriand applied to work in the hallowed studio of the great architect Le Corbusier. The response she received was curt. “We don’t embroider cushions here,” Perriand was told. What part, after all, could this 24-year-old female furniture designer possibly play in Le Corbusier’s high-minded plan to revolutionise the modern world?
Yet one month later, at the annual Salon d’Automne, the grandmaster found himself at Perriand’s Bar Sous le Toit, or Bar Under the Roof, which re-created a section of her own apartment. Le Corbusier was spellbound; this was the intoxicating hymn to the machine age he had been dreaming of. Nickel-plated copper stools were clustered around an anodised aluminium cocktail bar, while a chrome-plated table nestled beside a leather banquette and a built-in gramophone cabinet.
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Super-rich renting London homes for £5,000-plus a week amid Brexit worries
Weak pound means overseas tenants able to increase budgets, says Knight Frank
Mounting uncertainty around Brexit and the global economy has prompted growing numbers of super-rich people to rent rather than buy in London, with demand for lettings at £5,000-plus a week hitting a seven-year high.
Knight Frank, the upmarket estate agent, recorded 40 lettings for super-prime properties between April and June, up from 33 a year earlier and the highest second-quarter figure for more than seven years. There were 153 super-prime tenancies agreed in the year to June, up from 130 and the highest annual total. Super-prime tenancies are defined as those at £5,000 or more a week.
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UK house price growth at slowest rate in six years, says Halifax
Lender expects housebuying and price growth to remain subdued amid Brexit uncertainty
Annual house price growth in the UK has slowed to the lowest pace in six years, according to Halifax, one of the country’s biggest mortgage lenders.
The average price of a house was £232,574 in September, down 0.4% from in August – the first monthly fall since May, Halifax said. Prices rose 1.1% year on year, marking the smallest annual gain since April 2013.
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