Author: |Posted: 10:58 am on 08/07/09
Category: credit crunch
My local high street (well, local-ish) has just seen its empty Woolies store replaced by a 99p shop. The reaction, and the reaction to the reaction, has been vaguely amusing. Admittedly, it’s a fairly (alright, very) middle-class area, surrounded, as most are in London, by other less genteel areas, so its opening was bound to cause the classic middle-class reaction (an indistinguishable raising of the eyebrows and a barely audible tut, followed by stiff letters to the local MP).
But despite some shopkeepers and local residents calling it ‘the thin end of the wedge’, many people are quite happy that you can buy extra virgin oil and sets of white china for under a pound, while the chief exec of the store says it’s simply offering those who don’t earn a packet a cheaper choice within the high street.
It’s clearly better to have a functioning business in what was otherwise an empty, boarded up store. And those who have enough money to pay more than 99p for a set of china can always vote with their feet. However, the lure of a bargain is too strong for some of us, and local shops may of course suffer from the competition.
As you’d expect, the excitement of the opening caused a punch up in the store on opening day and shoppers were locked in by security guards while it was sorted out. Far more publicity generated by that than if a minor local celeb (and there are loads of them) turned up to open it. So, will it harm the high street? And should you welcome one to your high street? I’ll be off down there later to see what’s on offer – I might even blow the budget and spend £1.98.
Author: |Posted: 11:53 am on 10/06/09
Category: Buying & Selling, House Prices, Property & Money, Property Development, credit crunch, expert advice
I thought Property Ladder made for fascinating viewing last night – especially as I bought my house in April 2007 at the height of the market. Luckily for me, unlike last night’s developers, I’m not thinking of selling any time soon, so I could watch the rollercoaster ride they were on with sympathy, but a certain detachment. Can’t wait for the rest of the series now, and I think this series, more than any other, deserves future revisits – in a year or so – to see just how these ambitious, would-be developers managed over time to realise their dreams, if at all.
If you’re looking for clarification of Sarah’s remarks about the housing market, we have our own expert take on the property market. It’s realistic, it’s not all pretty, but it’s by our expert Kate Faulkner, who knows exactly what she’s talking about. Don’t miss it. And let us know what you thought of last night’s show, too.
Author: |Posted: 10:28 am on 24/04/09
Category: Buying & Selling, House Prices, credit crunch
In these uncertain times, trying to make sense of daily and differing reports on house prices is a daunting task. So I’m not even going to try!
Kate Faulkner wrote a great piece for us on understanding conflicting house price reports, which is well worth a peek. If you want to make up your own mind, here’s some of the latest house price reports for your perusal.
Rock kickstarts lending with 70% rise in home loans
This Is Money
Estate agents downbeat on revival hopes
Financial Times
Northern Rock to report second year of losses after mortgage arrears rise
The Guardian
House prices may fall another 15%
The Mirror
Estate agents downbeat on tax hike as prices rise
Property Week
Housebuilder Persimmon reports increased interest from potential buyers
LDP Business (Liverpool)
Property prices on the rise
South West Business (West Country)
Author: |Posted: 1:07 pm on 22/04/09
Category: Buying & Selling, credit crunch
In case you missed it – and he is talking fast – Alistair Darling has announced the following:
A scheme to guarantee mortgage-backed securities to boost lending and ease the flow of mortgage finance.
An extra £80m for the shared equity mortgage scheme.
The stamp duty holiday for homes under £175,000 to be extended to the end of the year.
He also announced additional support of those who lose their jobs and new help for first-time buyers to get on the housing ladder.
We will be looking at the Budget report closely tonight and we’ll report just how his measures will affect you tomorrow. Watch this space…
Author: |Posted: 12:16 pm on 05/03/09
Category: Property & Money, credit crunch
In the last few moments the Bank Of England announced that the base rate of interest has been cut from 1 per cent to 0.5 per cent.
This will hit savers where it hurts, but will it coax the banks into lending?
Author: |Posted: 10:43 am on 03/03/09
Category: Buying & Selling, Property & Money, credit crunch
The trend for swapping properties is on the increase, as sellers who need to move struggle to find buyers who aren’t going to bend them over the proverbial barrel. I’ve not seen a swap proposition this interesting in a while, though.
Artist John Abbott wants to know if you’ve got a house in Manchester. If you do, but want to escape the hustle and bustle of city life, he’ll trade you for his home – Long Island, off the West Cork coast.
John owns 11 acres of tranquil island and lives in a two-bedroom fisherman’s cottage, with water provided by a well and electricity by the presumably abundant sea breeze, meaning there’s no bills to speak of.
If you’re interested in swapping properties with John, you can find out more at www.EasyHouseExchange.com
Author: |Posted: 12:35 pm on 25/02/09
Category: DIY & Self Build, Design & Style, On TV, Style, Uncategorized, credit crunch
Sewing is the new going out. Decoupage is the new designer wallcovering. Reusing old fabrics to make patchwork is the new black… However you want to put it, craft is back in a big, big way. And just in time, too - with the credit crunch affecting us all, we’re all looking at ways of making our homes not just a retreat from the harshness of the world, but a cheap, or at least affordable, retreat at that. Bang on cue, enter our favourite homemaker, Kirstie Allsopp, whose new show Kirstie’s Homemade Home, starts in April. She’ll be tackling all sorts of projects, from making cushions and revamping lampshades to buying furniture at auction, as she decorates a house from top to bottom over the course of the series. Better still, we’ll be featuring each episode in detail, and we’ve got tons and tons of fabulous ideas, advice and inspiration lined up to help you turn your house into a home – on a budget. Plus, we’ll show you how to complete your own craft projects in Kirstie’s step by step DIY How Tos. Watch this space.
Author: |Posted: 4:30 pm on 23/02/09
Category: Architecture, Property & Money, credit crunch
On Friday The Architects’ Journal published the results of a survey on the recession and the architecture profession. The numbers don’t make for great reading, with 20% of architects saying they’d taken a paycut, 50% of practices saying they’d laid off staff, and iconic Foster + Partners announcing they’ll be letting up to 400 staff go.
4Homes’ own Deborah Saunt, architect and co-presenter of Grand Designs: Trade Secrets, had this to say: ‘People are getting desperate. It really is bad out there. It’s a bloodbath.’ And with RIBA President Jack Pringle predicting a five-year slump, things look like getting worse before they get better.
Author: |Posted: 9:40 am on 18/02/09
Category: DIY & Self Build, Property & Money, Uncategorized, credit crunch
The government have released a draft strategic document which outlines plans to give every existing UK house a green makeover, as well as dramatically raising the bar regarding the building regs for new homes.
The intention is to bring all UK homes to a level ‘approaching cation neutral’ by 2050. Unfortunately the document fails to specify where the money’s going to come from to pay for it.
You can read the full story here, and get info on how to save energy in your home here.
Author: |Posted: 6:45 pm on 11/02/09
Category: Architecture, DIY & Self Build, On TV, Style, credit crunch
The Grand Designs Awards return to celebrate the very best examples of domestic architecture and product design. Coined the ‘Design Oscars’ within the industry, the awards strive to recognise those who have raised the bar in terms of design and architecture.
Kevin McCloud says, ‘It’s never been more important to celebrate design excellence than in the current economic climate. The architects who produce bespoke, responsive buildings, the people designing innovative product, self-builders, and those brave souls who commission exemplary architecture, are the design heroes of our economy. They’re out there, still challenging perceptions, pushing at the boundaries of engineering, aesthetics and invention, and they need to be celebrated and given their moment.’ For entry details, go to www.granddesignsawards.com.
