Emma Fildes @emmafildes Twitter profile

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Emma Fildes

3 years

UK #housepriceindex explained. For those who want to decipher fact from fiction when it comes to #property price trends.

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Emma Fildes

@emmafildes

1 year

The New Economics Foundation “found that the Gov is set to spend 5x more (£58.2bn) on paying private landlords’ rent via housing benefits than on its entire affordable housebuilding programme (£11.5bn for the Affordable Homes Programme) over the next 4ys”

Nearly three quarters of Conservative voters want the UK to build more social housing

Among people who voted Conservative in the 2019 general election, 71 per cent said they agreed that there needed to be more social housing

inews.co.uk

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Emma Fildes

@emmafildes

1 year

“The avg buy-to-let mortgage rate is now just over 6%, if it hits 6.5%, 44% of mortgaged landlords will not be making enough from rent to cover their costs. This rises to 54% if the avg rate were to reach 7%” @Hamptons1869 @thetimes @R_A_Mortimer

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Emma Fildes

@emmafildes

7 months

“It now takes 13ys to save a deposit for the avg UK property (⬆️from 3 in the mid 1990s), & 30ys in London (⬆️from 4).” Option 1 - make a mint Option 2 - bank at mum & dad Option 3 - buy with an/other(s) Option 4 - invest in cheaper areas/prop’s Option 5 - save for 13ys @FT

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Emma Fildes

@emmafildes

5 months

Roll up, roll up - more debt for a step up in return for your vote, on a property you still may not be unable to afford. Speculation that the “the new Treasury-backed 99% mortgage scheme was LIKELY to be in the chancellor’s March 6 Budget” increases. @FT

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Emma Fildes

@emmafildes

6 months

GOV POTENTIAL PLANS = 99% mortgages backed by tax payers money PURPOSE = gain younger votes & appease builders/ party donors EFFECT = drive up property prices & demand RISK ASSESSMENT = neg equity, defaults & repo’s SOLUTION = Offload debt elsewhere

Sunak considers radical plan for 99% mortgages to help first-time buyers

Exclusive: Treasury discussing bold move to help young Britons onto property ladder with only 1% deposits – but experts warn ‘short-term political fix’ could backfire

www.independent.co.uk

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Emma Fildes

@emmafildes

9 months

Leasehold Reforms fit for a kings speech: -New houses to all be sold as freeholds -Cap existing ground rents to peppercorns -Legislate to change contract lease extension from 90ys to 990ys -Remove 2ys requirement before negotiating an extension @thetimes @HarryYorke1 @melyork

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Emma Fildes

@emmafildes

1 year

“House prices have increased dramatically: if the price of a supermarket chicken had increased at the same rate since the late 1960s, it would today cost more than £50”

The Observer view on generational inequality: the redistribution of wealth requires political nerve...

It’s time for baby boomers to share their spoils with the young, or else trouble lies ahead

www.theguardian.com

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Emma Fildes

@emmafildes

3 months

The dilemma-affordable homeownership or more pay in a job you trained for in a location u could struggle to save for a deposit while paying rent. Aberdeen maybe the cheapest city to be a first-time buyer with an avg asking price of £102,602 but the reason London, St Albans,

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Emma Fildes

@emmafildes

4 months

Dining out with pension funds and investors, the treasury sneezes at peppercorn plan, sprinkling salt on leaseholders pain. @thetimes @HarryYorke1 @melyork

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Emma Fildes

@emmafildes

1 year

“In the decade of super-loose monetary policy, young people lost out as house prices soared, increasing wealth for older homeowners. In this new era of rising rates, younger working people with mortgages may feel they are absorbing the pain on behalf of society as a whole” @FT

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Emma Fildes

@emmafildes

7 months

House prices indices are either outdated or influenced by restricted data and methodology. All are to be consumed with a generous sprinkling of salt. For those interested in how they concoct their AVG house “price” claims, below is a thread with overview & links

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Emma Fildes

@emmafildes

1 year

“At the end of last year, over-65s held an astonishing £2,183 bn of unmortgaged wealth in their homes — about 45% of net housing wealth held by all owner-occupiers in the country. In addition they held another £405bn of net wealth in buy-to-let properties” @Savills @thetimes

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Emma Fildes

@emmafildes

1 year

Westminster council find 90% of the 118 properties at Forset Court, an apartment block next to Hyde Park, were being used for holiday stays. Paying a combined council tax bill of a little more than £40,000 a year. Whilst the Ritz Hotel paid £2.27m in annual business rates 🤦🏼‍♀️ @FT

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Emma Fildes

@emmafildes

3 years

A spending watchdog estimated the true cost of refurbishing Westminster to be 12 billion. The taxpayers who house politicians there, now trapped by the #claddingscandal won't take kindly to footing that bill when their own hasn't been paid.

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Emma Fildes

@emmafildes

1 year

Help to Buy = Help to Developers “Analysis of more than 101,000 Help to Buy loans repaid to March 2022 found that 12,434 — or 1 in 8— of those properties had lost value. About a 100 of these fell by more than 50%— probably due to cladding problems” @George_Nixon97 @thetimes

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Emma Fildes

@emmafildes

4 months

Fuelled by lockdown & an unnecessary stamp duty & cheap rates - city dwellers looked to the suburbs & beyond & found more space for less than they’d ever be able to afford in town. Believing, life would never be the same again, working from home would be the norm, they made a

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Emma Fildes

@emmafildes

1 year

And the award for bad optics goes too… BoE’s chief economist Huw Pill who said “British households and businesses “need to accept” they are poorer and stop seeking pay increases and pushing prices higher” whilst personally earning £180,000 a year

Britons ‘need to accept’ they’re poorer, says Bank of England economist

Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages

www.theguardian.com

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Emma Fildes

@emmafildes

7 months

The chairman at Nat West claims buying a house isn’t “that difficult at the moment. You have to save and that’s the way it always used to be.” When earning £750,000 a year, as he is, not much is “that difficult” except being in touch with reality 🤦🏼‍♀️ @thetimes @tomhtimes

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Emma Fildes

@emmafildes

1 year

Mark Carney said consumers should brace for paying higher rates for the forseeable future — “not just measured in, you know, 12 mths, 24 mths.” Higher borrowing costs represent ““big tectonic shifts in the global economy”

Former BOE Governor Mark Carney Says UK Interest Rates Will Remain High for Years

Former Bank Of England Governor Mark Carney said UK interest rates will remain high for years to come, ensuring governments and consumers will pay more to service debt.

www.bloomberg.com

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Emma Fildes

@emmafildes

1 year

The Buy to Let Mkt will soon be reserved for those who own outright/ have a small loan or the build to rent sector. For those, who rode the low interest investment wave, if the recent inc’s in rates doesn’t = a profit, they’ll cash out, hopeful of change

Quarter of a million buy-to-let landlords face remortgage crisis

Property investors forced to refinance at double the rates they are used to

www.telegraph.co.uk

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Emma Fildes

@emmafildes

10 months

Developers bemoan the absence of cheap money & help to buy schemes as forward sales/profits deplete. “Barratt Developments’ forward sales fell to 9,221 in the 3mths to 8 Oct from 13,314 a year earlier. At £2.4bn, they are worth £800m less than last year”

Barratt warns of ‘uncertain’ year as buyers struggle with mortgages

UK housebuilder’s sales also dented by absence of government’s help-to-buy scheme

www.theguardian.com

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Emma Fildes

@emmafildes

9 months

Buyers & sellers expectations are too high. Both want more money, but one wants it off. So they retreat in the hope that when they return the other has seen sense @melyork @thetimes

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Emma Fildes

@emmafildes

2 years

Landlords play nesting dolls by either selling or reducing their stake down to a subsidiary company with a net worth under 2m to avoid paying for #cladding repairs. But the trail of deceit can easily be stacked right back up to the ultimate landlord @thetimes @Lees_Martina

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Emma Fildes

@emmafildes

1 month

Britain’s biggest developers invest in themselves but not the safety of others, which they are responsible for putting at risk. Nine of the largest companies awarded themselves a total of £789.1m, 28% more than the £617.3m their companies have spent on fixing fire-risk flats

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Emma Fildes

@emmafildes

1 year

House Price Indices Explained - Halifax & Nationwide use diff methodologies & don’t inc cash sales which make up a 3rd of transactions. Also - Halifax includes buy to let & shared ownership properties where Nationwide doesn’t. The ONS is in Technicolor with a 2mth lag @thetimes

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Emma Fildes

@emmafildes

1 month

I’m sorry Keir Starmer: Stopping rental bidding wars by legislation? Sounds like rental caps. No one likes them but maybe if there was more stock this wouldn’t be an issue… Stopping rental deposits? Sounds like Landlords are the enemy and can afford the collateral damage. You

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Emma Fildes

@emmafildes

2 years

Overcoming Goliath “London property tribunal determined that individual leaseholders in Canary Riverside owned by John Christodoulou’s Yianis Group should not have paid £1.5mn to a managing agent for insurance-related services or £121,000 in linked taxes.” @FT @iankmsmith

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Emma Fildes

@emmafildes

1 year

Our codependency on foreign investment comes at a price - "The avg house price would have been £44,000 lower in England & Wales in 2019 – at £221,000 instead of £265,000 – were it not for overseas buyers"

Foreign property buyers push house prices up 17pc

Booming demand from overseas buyers could cushion house price falls expected this year

www.telegraph.co.uk

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Emma Fildes

@emmafildes

2 years

2023 UK AVG PROPERTY PRICE DROP FORECASTS ECONOMISTS - Capital Economics -12% - Pantheon Macroeconomics -8% BUILDING SOCIETIES & BANKS - Credit suisse -10% - Liberum -5% - Nationwide -5% - Halifax -8% ESTATE AGENTS - JLL -6% - Knight Frank -10% - Savills -10% @thetimes

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Emma Fildes

@emmafildes

1 year

Always read the small print - Jeremy Hunt’s mortgage rescue deal with banks will exclude buy-to-let properties

Hunt's mortgage rescue deal to exclude buy-to-let properties

Chancellor's 'anti-landlord' plan criticised by Labour which warns of 'potential snowball problem' affecting the private rental sector

www.telegraph.co.uk

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Emma Fildes

@emmafildes

5 months

Research by England’s National Housing Federation & the charity Shelter found that if the Gov spent £11.8bn to build 90,000 new social homes, they would recoup their investment within 11ys through savings on public services & extra tax revenue @FT @joshckoliver

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Emma Fildes

@emmafildes

3 years

7 construction giants posted £15.1 billion in profits since Grenfell fire in 2017. Yet only £643 million has been set aside by them for fire safety over the past 3 years. This is about 4 per cent of their profits over that period. @thesundaytimes #claddingscandal

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Emma Fildes

@emmafildes

1 year

What was once hot property becomes cool - Sellers are having to forgo a 3rd of their pandemic house price gains by accept an avg 4.5% discount (£14,000) to the asking price to achieve a sale. This is the highest discount for 5ys as the market shifts to a buyers mkt @Zoopla

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Emma Fildes

@emmafildes

1 year

Buying V Renting where you are in the UK. Is it any wonder that if you can still afford to get on the ladder, many are @FT @joshckoliver

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Emma Fildes

@emmafildes

8 months

Mortgage holders are bearing the brunt of the base rate strain to tame inflation. “A 10% slide in house prices would push almost 700,000 mortgage holders into negative equity & a further 350,000 recent mortgagors into higher loan-to-value brackets.”

Falling House Prices Could Worsen Mortgage Crunch for Britons

Falling house prices could worsen the crunch facing households when they come to refinance their fixed-rate mortgage deals, according to research from the Bank of England.

www.bloomberg.com

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Emma Fildes

@emmafildes

1 year

The numbers don’t lie…anyone buying into a block of flats knows the service charge only ever goes up but how many residents were financial prepared for this…utilities increases alone, from 22-23

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Emma Fildes

@emmafildes

1 month

“Research by Hilber & his team at the LSE found that help to buy inc’d house prices in London by 8%, & boosted developers’ revenues by 57% in the process. Worse still, the policy actively stimulated construction “in the wrong areas”⁦ @ollywainwright ⁩

How a disastrous Tory policy blew up the housing market

George Osborne’s help to buy cost billions, pushed up prices, did almost nothing for new buyers – but made house builders a lot of money

www.theguardian.com

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Emma Fildes

@emmafildes

6 months

Netherlands bank, Munt, to offer April mortgages which will automatically redu rate as u pay off loan or if the property inc’s in val + no repayment fee. Its loans will be funded through invt from pension funds & life & insurance biz rather than savings @thetimes @George_Nixon97

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Emma Fildes

@emmafildes

1 year

Aging…financially The amount of mortgage-free equity held by the over-65s = £2.183tn + £405bn in rental properties = £2.588tn. Over 50-64’s = £1.53tn + £679bn in rental properties = £2.213tn = 78% of the UK’s housing equity @Savills @davidbyers26 @thetimes

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Emma Fildes

@emmafildes

3 months

Desperation kicks in: “The Treasury has drawn up plans to inc the threshold at which people start paying the duty from £250,000 to £300,000. The move, which would cost £3 billion a year by 2028-29, would mean that nearly half of all people buying homes would pay no stamp duty,

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Emma Fildes

@emmafildes

1 year

Purchasing the avg detached UK property over 25ys at a 75% loan-to-value in Dec 2022 would have resulted in a monthly mortgage repayment of £2,041 (up by 60.7% on Dec 2021). For terraced houses, £1,063 (up by 59.6%). For flats & maisonettes, £1,028 (up by 54.6%) @ONS

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Emma Fildes

@emmafildes

2 years

UK house prices are hit for a fourth consecutive month - the worst run since 2008 with prices falling month-on-month by 0.1% in December to £262,068 as growth declines to 2.8% @AskNationwide

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Emma Fildes

@emmafildes

2 years

Pick your piste run. House price indices across the world @PrimeResi

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Emma Fildes

@emmafildes

1 year

"Overconfidence will drown you in the sea of reality" - How NOT to "test" the property market.

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Emma Fildes

@emmafildes

1 year

Barratt’s shares fell 19p to 399p, a drop of 5% - the biggest single fall on the FTSE 100, as reservations from new mortgage holders tumbled by 49% year-on-year & the avg selling price for homes take an almost 9% hit

House prices drop for Barratt Developments on exodus of first time buyers

Average selling prices down 9% to £342, 900 and reservations from new mortgage holders down almost half

www.standard.co.uk

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Emma Fildes

@emmafildes

10 months

Number crunching: -Targets aside, the UK needs 225,000 tradespeople by 2027 to keep up with CURRENT construction demand alone. -Construction apprenticeships in Eng fell from 12,420 in 2018 to 7,700 in 2022 Houses don’t build themselves @cliveholland @thetimes

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Emma Fildes

@emmafildes

1 year

“Housing downturns start slowly, & then they speed up. We are moving beyond the point where it’s just about interest rates. Now we are in the diff bit, where things start to go wrong.” ⁦ @BuiltPlace ⁩ ⁦ @MelissaLawford ⁩ ⁦ @R_A_Mortimer ⁩

Why fixed-rate mortgage holders will be the worst hit by rising rates

Millions of homeowners now face a double blow

www.telegraph.co.uk

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Emma Fildes

@emmafildes

2 years

“Once ground rent exceeds £1,000 in London, or £250 a year outside it, the lease is treated as an assured shorthold tenancy in court & the freeholder can seize the property under the provisions of the Housing Act 2004, if you miss a ground rent payment” @thetimes @melyork

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Emma Fildes

@emmafildes

4 months

“People talk about the housing crisis, but it should be crises. There are multiple housing crises at the moment. There is a crisis of affordability, a crisis of access and a crisis of temporary accommodation. Fundamentally, there isn’t enough housing in London and nationally. If

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Emma Fildes

@emmafildes

2 years

2 year ban on foreign investors buying property in Canada becomes law in areas where the core population is greater than 10,000 people in an attempt to curb rising House prices in metropolitan areas

Canada bans foreign investors from buying property in the country

The law, which went into effect Sunday, seeks to quell the country's housing crisis by prohibiting outsiders from purchasing property in its 10 provinces.

www.dailymail.co.uk

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Emma Fildes

@emmafildes

1 month

“New-home completions shows that in some parts of the UK just one place was built for every 10 extra people in the population from 2011 to 2021.” As a result of this the “next gov will need to build the equivalent of another city the size of London to make up for five decades of

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Emma Fildes

@emmafildes

1 year

Markets now bet on a 2024 New Year BoE base rate hangover of 6% - prolonging financial pain for homeowners & landlords.

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Emma Fildes

@emmafildes

1 year

When the sales are down you know where to put your money…rental. “Barratt Developments has struck a £168.4m deal to sell more than 600 homes to Citra, a residential letting business owned by Lloyds Banking Group” @thetimes @Benjaminwmartin

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Emma Fildes

@emmafildes

1 year

Out of the 1.4m homeowners facing refinancing this year Q2 sees the largest proportion hit with 371,000 loans feeling the pinch @AliceKantor

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Emma Fildes

@emmafildes

1 year

Double or quits - betting on the short to medium term mortgage mkt for survival “No forecast suggests that rates will be higher in two years, they just disagree on how far they will fall, and how quickly.” @George_Nixon97 @thetimes

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Emma Fildes

@emmafildes

1 year

The devil is in the details...cladding bill insulates 12% but leaves 88% of victims exposed. "Legal experts warn...contract binds developers to fix only what ASSESSORS they THEMSELVES HIRE say" not surveys from landlords, resident companies or the Gov @thetimes @Lees_Martina

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Emma Fildes

@emmafildes

2 years

Lenders & RICS surveyors demonstrate who really wields the power over the sale of flats as they ignore GOV EWS1 advice for their own. I wonder if banks were left with repossessed, unsellable, clad blocks, if they would suddenly change their stance.. @Lees_Martina @thesundaytimes

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Emma Fildes

@emmafildes

6 months

Gove plans to curb 90 day + short lets by firstly making owner’s apply for planning permission (£450) & sign up to Gov reg scheme. But then applying for NEW LAWS which empower local auth to evoke “permitted development rights” in areas riddled with part timers @thetimes @ojngill

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Emma Fildes

@emmafildes

5 months

Millennials & Generation Z, all is not lost. In the next two decades a “massive transfer of wealth & assets” (£2.5trillion) will land, meaning just before retirement the dream of owning your own home could be realised @thetimes @davidbyers26

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Emma Fildes

@emmafildes

7 months

Mortgage prisoners look to Sunak for a way out after their debt was sold to companies such as Topaz Finance & Heliodor who have been feasting on their downfall by "creaming off extortionate revisionary standard variable rates, essentially since 2008"

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Emma Fildes

@emmafildes

1 year

The numbers game that no longer adds up. For those who went in with low equity, even tapping up the tenants for more rent won’t ease refinancing woes. @Hamptons1869 estimates 8% of Landlords are at risk, located primarily in the south of England @FT @MrJamesPickford

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Emma Fildes

@emmafildes

1 year

Noel Quinn, chief executive of HSBC, said: “With more mortgage customers due to roll off fixed-term deals in the next 6mths, and further rate rises expected, tougher times are ahead.” Homeowners can’t escape the inexorable rates rises on the horizon

‘Tougher times are ahead’, HSBC warns homeowners

British households increasingly squeezed as fixed mortgages come to an end

www.telegraph.co.uk

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Emma Fildes

@emmafildes

9 months

According to Knight Frank & Bayes Business School - phasing out the leasehold system could inc property prices for the 5m leasehold properties in Eng & Wales by 10%. Their values depressed by the feudal system that lines freeholders pockets by clocking up time @thetimes @melyork

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Emma Fildes

@emmafildes

3 months

Uncertainty for both renters and landlords has been detrimental to both. The symbiotic relationship between tenants & landlords is out of kilter & is set to continue till more homes are built & legislation is clear. Till then, the rental situation will only get worse, not better,

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Emma Fildes

@emmafildes

1 year

Tick…tick…tick….rates are forecasted to be higher for longer in the UK affecting more borrowers over time than in other countries due to short term lending thinking. @alexxaphillips @TeleProperty

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Emma Fildes

@emmafildes

11 months

Avg house prices melt under the Aug heat, dropping -1.9% in a month & -4.6% annually, making the typical home now worth £279,569. Peeling back prices by £14,000 on last year but still up £40,000 on pre-pandemic levels @HalifaxBank

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Emma Fildes

@emmafildes

5 months

“Half of capital gains for the entire country go to as many people as could fit in the Albert Hall” People living in a select no of streets in Notting Hill “had as much in capital gains in 2015-2019 as Liverpool, Manchester & Newcastle combined” @guardian @RupertNeate

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Emma Fildes

@emmafildes

4 months

The first & most important thing to know about service charges is…they only ever go up. What you pay today is rarely the same the following year. Budget to buy, to live & to service.

Service charges: Who, what, where, when, why?

Steep rises in service fees have left some leaseholders feeling trapped and others in debt.

www.bbc.com

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Emma Fildes

@emmafildes

1 year

Perception V Reality. By how much is Britain concreted over? PERCEPTION - avg guess 47.1% of land is DEVELOPED REALITY - 8.7% DEVELOPED @Ipsos PERCEPTION - avg guess of HOMES taken up by homes 38.9% REALITY - 1.3% HOMES excl gardens @OrdnanceSurvey @thetimes @Lees_Martina

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Emma Fildes

@emmafildes

3 months

Another day, another Tory compromise. Rishi Sunak has sided with Michael Gove, overruling opposition from the treasury, to announce ground rents on existing leasehold properties to be capped at £250 for 20ys. Though a marginal improvement, the promised “peppercorn” it is not.

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Emma Fildes

@emmafildes

4 months

Those who banked, post pandemic, on working from home so made a 5 to 10y move early are finding commute times gruelling & their property price negotiable @FT @Algoss

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Emma Fildes

@emmafildes

1 year

Expectation V Reality “The London lettings and estate agent Benham and Reeves reports that the gap between the mortgage approved price of a buyer (£271,098) and the asking price expectations of a seller (£363,416) has increased to 34.1% across the UK”

Asking price of properties popular with UK first-time buyers hits record

Average of £224,963 for homes with one or two bedrooms is 2% higher than a year ago, says Rightmove

www.theguardian.com

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Emma Fildes

@emmafildes

2 months

Shared Ownership Increased Costs: Mortgage ⬆️ Rent ⬆️ Service charge ⬆️ Affordable it is not @hannahfearn @FT

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Emma Fildes

@emmafildes

1 year

“The bottom line is that if you want to move, you need to get real to do the deal. Price realistically to sell, bid reasonably to buy. Neither side should play games to the extent they risk losing the sale they want.” Mic drop 👏 @CarolLewis101 @thetimes

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Emma Fildes

@emmafildes

8 months

An Estate Agent showed me a property today who didn’t employ me when I interviewed for them over a decade ago because I’d been an actress and apparently “we don’t stick at anything.”

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Emma Fildes

@emmafildes

4 months

Yorkshire Building Society offers first-time buyers with £5,000 to spare, a high mortgage rate for 5ys at 5.99% on houses worth up to £500,000. The deal exc flats & newbuilds, perhaps in attempt to lessen the risk of negative equity from new build premium prices & by encouraging

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Emma Fildes

@emmafildes

1 year

Developer - Prime Metro Properties said “it wasn’t me” Building Control & Fire Safety - Salus Ltd said “it wasn’t me” Contractor - Cite Construction Ltd said…. European Insurance Company - Acasta Ltd said… Caught red handed yet getting off scot-free!

Camden leaseholders: 'My £850,000 newbuild flat is now worthless'

Residents say their "futures have been stolen" after their new flats are deemed not fit for purpose.

www.bbc.co.uk

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Emma Fildes

@emmafildes

1 year

The reality check is felt most by those selling in the £350,000 - £1m bracket as price reductions inc in the 1st 11 weeks of 2023 by 117% from 37,432 to 81,083. @thetimes @davidbyers26

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Emma Fildes

@emmafildes

1 year

The Help to Buy scheme that helped many onto the ladder whilst inflating property prices, “completes” tomorrow. Since the scheme was introduced house prices have inc 54% according to Nationwide. Leaving the Treasury 2bn up & others unable to now “step up” @thetimes @tomhtimes

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12

40

Emma Fildes

@emmafildes

10 months

N.B - the mkt doesn’t always go up & rates aren’t always low “The number of homeowners who are in arrears on interest payments on their Help to Buy loans has doubled in the past year & inc’d sevenfold since 2019.” @TheTelegraphUK @alexxaphillips

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11

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Emma Fildes

@emmafildes

1 year

“Analysis by Labour suggests the avg homeowner who renewed their mortgage since the “kamikaze mini-budget” is now spending an extra £150 every week. It means the avg household is paying £223 a week in mortgage interest payments – an inc of £7,000 a year”

Labour says ‘Tory mortgage penalty’ costs homeowners extra £7,000 a year

Opposition finds fallout of Liz Truss mini-budget has raised average mortgage interest payments by £150 a week in two years

www.theguardian.com

15

8

39

Emma Fildes

@emmafildes

6 months

Why the delay with probate? 🧐 “There are currently fewer than three full-time equivalent registrars and deputies in the probate registry workforce where previously there were 30” Case closed ⁦ @charlotte_giff ⁩

House sales collapse as year-long probate delays hit

Increase in documentation mistakes by inexperienced civil servants blamed for hold-ups

www.telegraph.co.uk

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14

39

Emma Fildes

@emmafildes

1 year

- Buy To Let - Interest Rates - COL - Service Charges = new-build sales to plunge 24% in Feb compared with last year. Even properties that ask a premium end up in the discount bin with extras thrown in if they don’t sell ⁦ @alexxaphillips ⁩

New-build property sales plunge in latest blow to housing market

Buyers struggle with soaring mortgage rates and stubbornly high house prices

www.telegraph.co.uk

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10

38

Emma Fildes

@emmafildes

5 months

A property is only worth what someone is prepared to pay for it…and the mortgage surveyor agrees - Down-valuations are on the rise for those buying with small deposits

Down-valuations on the rise - warning

Down-valuations appear to be on the rise and it is shocking agents and mortgage brokers.

www.estateagenttoday.co.uk

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11

38

Emma Fildes

@emmafildes

2 years

Accountant, Mike Fox, said; “If I bought a faulty new car, the manufacturer would not refuse to take it back just because he had a 2nd vehicle. I feel I’m being discriminated against- why am I being victimised & financially ruined?” @thesundaytimes @Lees_Martina #claddingscandal

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Emma Fildes

@emmafildes

8 months

Sellers intent on getting THEIR price may have to wait 4ys. "From their high in the 4th 1/4 of 22 to their low in the final 1/4 of 24, nominal house prices are expected to decline by 7.6% then recover SLOWLY only reaching their late 22 peak levels in the 2nd 1/2 of 27" @OBR_UK

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10

39

Emma Fildes

@emmafildes

10 months

Desperation kicks in - Conservatives start plotting for juicer voting carrots to keep their Westminster burrow - telling the @thetimes they are discussing whether to go ahead with 1 of 2 major pledges for the manifesto next year: cutting stamp duty or abolishing inheritance tax

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37

Emma Fildes

@emmafildes

1 year

“Between 2016 & May 23, landlords have sold off an estimated 400,000 properties…if sales continue at the current trajectory, by the end of 2023 the rental sector will have close to 10% fewer properties than in 2016” ⁦ @CBRE ⁩ ⁦ @alexxaphillips ⁩

One in ten rental homes will be lost this year as landlords flee market

'War' on property owners threatens to worsen rent crisis

www.telegraph.co.uk

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13

39

Emma Fildes

@emmafildes

3 years

Developers can rise like a ‘phoenix’ from the ashes to create new companies, absolving themselves from responsibility, leaving leaseholders flammable. This has to change #claddingscandal . @Lees_Martina @thetimes

1

15

37

Emma Fildes

@emmafildes

1 year

“If net migration continues at last year’s record levels, the UK population is forecast to rise to between 83 & 87m by 2046. That would require “between 6 & 8m more homes, equal to between 15 & 18 more cities the size of Birmingham” @MigrationWatch @Lees_Martina @thetimes

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11

36

Emma Fildes

@emmafildes

5 months

The leasehold reform bill makes a Commons comeback with exemptions: -Retirement villages to continue to sell new leasehold houses -Existing leases granted on the land to remain, even if no property has yet to be built 🤦🏼‍♀️⁦ @kiranstacey ⁩

Anti-leasehold bill contains loopholes for developers, say campaigners

Clauses in Michael Gove’s bill include exemptions for properties in a retirement village or on land where a lease has already been granted

www.theguardian.com

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16

36

Emma Fildes

@emmafildes

3 months

Sellers of larger homes who waited out 2023 price drops & pinned hopes on rates being trimmed in time for their 2024 gardens to bloom, are coming out with renewed confidence of securing a buyer this time round. Driving up, the overall avg growth in asking prices, AKA optimism, by

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38

Emma Fildes

@emmafildes

9 months

Today forecast is brought to you by Estate Agent @Savills After a 7% fall from the mini-budget to the close of 2023. UK prices will fall by 3% in 2024 to reach £246,950. Inc to £300,108 between 2025-28. Overall prices inc’ing 17.9% during the next 5ys @davidbyers26 @thetimes

13

6

37

Emma Fildes

@emmafildes

3 months

Banking on capital appreciation could age many first timers. The end of cheap money has meant more buyers are drawing out their mortgage term to get on the ladder, leaving many at risk of not have enough savings, post retirement, to fulfil payments, forcing many to work for

18

12

36

Emma Fildes

@emmafildes

5 months

What’ll make the final budget (housing) cut? -Gove wanted cuts to stamp duty for both first-time buyers & older owners hoping to downsize. Hunt, less so. -99 % mortgages for first-time buyers looks “unlikely” according to officials. -Help to Buy - also unlikely 🤔Build more?

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Emma Fildes

@emmafildes

3 months

I wonder why oh why have the number of properties for sale in the south west increased by 20% more than this time last year...could it possible be buyers over stretched both financially and physically from work post pandemic 🤔 @Zoopla

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2

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Emma Fildes

@emmafildes

8 months

Some 19% of UK households are private renters, & about 45% of them live in a home with a BTL mortgage. Overall, the BTL mkt makes up about 9% of UK’s housing stock amounting to £300bn of outstanding mortgage debt. A 18% slice of the overall mortgage mkt.

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9

34

Emma Fildes

@emmafildes

3 years

The #cladding crisis ought to be handled as a product recall. The item sold has fallen short of safety standards & a suitable refund or remedy sought. Developers being made to pay via a 4pc levy on profits over 250m is a sound bite ringing hollow in a 15b black hole

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Emma Fildes

@emmafildes

3 months

"It's good to learn from your mistakes. It's better to learn from other people's mistakes." Rachel Reeves says she favours enabling individual councils to decide on rental caps in their areas. What is supposed to help renters will only reduce the supply of housing, driving up

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