THE SEEMINGLY UNSTOPPABLE LONDON PROPERTY MARKET

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Big bounce in profit as this Agency rides the London Market, read one property headline, indicating the enormous revenue recorded by the oldest property agency in the UK.
This is one time that conglomerates and family estate businesses seem to score alike. However this report emphasises what has become the seriously unnerving nexus of the local property industry, one of uncontrolled, fuelled by unsustainable aids, runaway property prices and moronic buying urges. We reiterate, this roller coaster spin which the property market is caught in, has to be halted or at least seriously decelerated.

RUNAWAY PROPERTY TRAIN NEEDS BRAKING BEFORE IT HITS THE END OF THE LINE

When The biggest property giant, already with billions in assets, has a profit growth of 40% over the same time in 2012, carelessly floating along on this unwavering hurricane, then any person with half a mind has to realise a crash of sorts is immanent.
While we have spoken about 4% over the last annum increase in the average property prices, it has been recorded that price increases over the same period for UP-market homes has been on average a whopping 18% where the average sales ticket for a prime property in London stands at £3.2 million. First liaise on this one with your Nelsons Estate agents in London.
Nobody imagined this trend was possible, till it happened, can anyone now begin to imagine a Billion £ private property, and we don't mean a whole Kuwaiti island.

THE CRAZY MIXED UP, INDUCED ECONOMY DOES THE SAME TO PROPERTIES

While the return on money savings remains at virtually zero and the Government “pays” people to own more properties than to live in, the buy-to-let- purchasing will continue unabated, because it offers the opportunity to let it on a 4% return, which needs no genius to appreciate.
We are not the bearers of bad omens, it is unimaginable that something remotely similar can ever happen to London, but whole cities have gone bankrupt, take as examples Seesen in Germany and Detroit City in the USA, the home of motor cars and even if the City of London will for ever remain the hub of vitality and business, beware the 'Ides of March', this property bubble has to burst. Before making rash decisions, meet with your Nelsons estate agents in London.

PRAY TELL, HOW WOULD YOU FANCY LIVING IN A SEMI-DETACHED TO HARRODS?

Do not scoff, that may no longer be impossible, empty shops are set to become homes from next spring under the new permitted development rights, without the need for planning permission.
The Government’s Department for Communities and Local Government is proposing that a shop of up to 150 square metres can be turned into a single house or up to four flats and, hold onto your seat, Government is taking away powers from their own, Local Authorities will have only limited powers to reject such conversion plans. Nevertheless developers would have to apply to councils for prior approval before they go ahead with conversions, while we just wonder about the old Greek who owns the family store on the corner? What will stop him from turning the grocer privately into a mod-con and renting it at a few G's per month? Consult your Bethnal Green estate agent on this.

THE CRAZE TO 'HAVE TO OWN' THE HOME, EVEN CHANGES THE RULER'S RULES

Habitually the various levels of Government, from the House of Parliament to local Councils would be in cahoots, covering reciprocal backs, now Big Brother over-rides local.
Councils can reject such conversion applications on grounds of loss of economic health to town centres or fear for the loss of essential local services such as post offices, as well as the “potential impact of the change of use on the local character of the area”. Should the developer disagree (which of course he will) with such decision he may call for a favour from no other than the Secretary of State who will have the power to overturn refusals by local authorities when deemed unreasonable. For such conversions consult your Nelsons Estate Agents in London.
The CLG consultation, which will run until October 15, is intended to make it easier to bring empty shops back to life by giving them new use, which follows a similar move to allow unoccupied offices to be turned into homes. The shops-to-homes changes will come into force next April. With the average high street vacancy rate at over 14%, perhaps a good idea?