@IanKingBusiness @EuropeEarlyCNBC @CNBCi @YouTube Great info on data centres. And congrats for persisting with Micha👏
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Myra Butterworth
3.9K posts
Myra Butterworth
@MyraButterworth
Freelance property journalist. Spent five years at The Daily Telegraph followed by almost a decade at the Daily Mail. Email: [email protected]
London & Wiltshire Katılım Şubat 2009
1.6K Takip Edilen5.4K Takipçiler
It was great fun presenting @EuropeEarlyCNBC this morning on @CNBCi.
If you missed the programme - and we had some cracking guests - you can watch it now here:
Europe Early Edition - 12-May-26 youtube.com/live/-Ud5Vxjio… via @YouTube
YouTube
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It took THREE years to sell mine. And it is a market trend that has now filtered through to the rest of the market. The bottom rung of the property ladder is disappearing (in part to the millions who have been unable to sell their leasehold flats). It is having a knock-on effect. Sellers are getting viewings but their buyers are unable to take the leap as they have not sold their first property. The market has become stuck.
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Leasehold is dragging the housing market down ⏳
🔴 100+ days to exchange on average
🔴 Leasehold sales taking 155 days
🔴 Deals collapsing later & more often
This system isn’t just slow — it’s broken. This isn’t a market issue — it’s a system failure.
More evidence provided by Connells 👇
shorturl.at/7qIPC
For the first time on record, it is now taking more than 100 days, on average, for a sale to progress from offer agreed to exchange.
@SteveReedMP @mtpennycook
@AngelaRayner @mhclg
#LeaseholdScandal
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@MarkDampier @PensionsMonkey @John_Stepek @bgprior I'm intrigued, what would you have liked to have seen him talk about on energy? Shale revolution film by @EdConwaySky was superb.
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@PensionsMonkey @John_Stepek @bgprior So much domestically he could have talked about, tax cliff edges, energy, regulation and helping business. Instead he waffles on about Europe, which has slower growth, a daft energy policy like us, and is indebted even more….
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If a reset speech could make such a big difference, why wouldn't you have announced what you are now promising before you had lost 1500 councillors, not after?
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@MortgageMikeN2 Horrific. It is effectively a second mortgage for some people.
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Sold as affordable living 👇🥹
Cladding Victim @LostInSW19
@davidjmadden Our block has a 6k pa service charge now. It is a no-frills block in zone 3: there is no concierge, no gym or anything else. There is a lift. That's it. It was sold as 'affordable' housing and most of us are shared owners. It's a racket that has made our flats unmortgageable.
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Myra Butterworth retweetledi
Cuts in the BBC are inevitable. But once again it looks like they’re going to make the wrong ones.
theguardian.com/media/2026/may…
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No change in the Bank Rate at 3.75%. But all change in the economic backdrop. Earlier this year, markets were pricing in cuts, but now expect several increases. Today, we found out that eight rate-setters at the Bank of England decided to hold, while one voted for an increase. Will we back at 5% next year?
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@hwallop @NHSBartsHealth Oh no! Sorry to hear this. Hope the hospital has a good follow-up physio programme. Wishing you a speedy recovery.
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🩻 Londoners, if you fly off a bicycle & fracture your elbow can I highly recommend taking yourself to @NHSBartsHealth Minor Injuries Unit?
Incredible service. Triaged, x-rayed, diagnosed and discharged in under 90mins.
The *lack* of A&E at this hospital makes it more efficient
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@MarkDampier @John_Stepek @residentadviser Totally agree - there are lawyers claiming they've been instructed by landlords to sell entire portfolios ahead of the rental reforms... along with evicting all the tenants who live in the properties. It is magnifying the very problem it was meant to solve.
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@John_Stepek @residentadviser I’ve just seen friends who I would describe as good long term renters ordered to quit ahead of an Act that was supposed to help them.
“I’m from the government and I’m here to help you” remains one of the great contrarian signals.
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I’m very sceptical of rent controls personally. But the right and the wonkosphere should just realise: it’s good politics from Reeves. Just is. Popular with the public (more generally). It will be particularly popular with part of Labour’s base who are flirting with the Greens.
Richard Johnson@richardmarcj
The right go absolutely apoplectic over suggestion of rent freezes, but for most of the period from WWI to Thatcher, Britain had some form of private rent control. The national rent system under Wilson heavily regulated rents. My grandad was on the Fair Rents Advisory Council.
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Quite. But it is perhaps not rental prices that are hurting landlords the most ahead of the Renters' Rights Act on May 1. Regulation is becoming financially crippling for many, due to the abolition of Section 21. Indeed, faced with those restrictions, why would any landlord bother?
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They want everything for free!!
Congolesa Rice@judeinlondon
I think private rents should be capped at social housing rates. £160 - 1 bed £240 - 2 bed £300 - 3 bed £400 - 4 bed £500 - 5 bed Doing this would save billions in housing benefit, disincentivise B2L properties, freeing up homes for 1st time buyers and adjust the market
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"London flats are falling out of fashion," says @HenryPryor And this Canary Wharf abode is one of many examples that has seen its sold price drop. A mere £450K in seven years.
thenegotiator.co.uk/news/flats-sol…
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@MortgageMikeN2 @moving_charlie Yeap - back from 6 times earnings to 3.5 times max?
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@moving_charlie We’ve seen a crazy amount of loosening of lending over the last 12 months, watch that get quickly reversed.
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This is true, but the cause of it is overwhelmingly due to government policies relentlessly loosening lending.
Boomers didn't know this was going to happen. They just bought homes, then made BTL investments made attractive by the last Labour government allowing BTL lending.
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@moving_charlie Quite! (Although Michael Burry did work it out in 2008). I wonder if anyone will get to the point where the cost of fuel means they can no longer afford to drive to work. And quit.
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@MyraButterworth I like Lloyd Blankfein's explanation (ex oldman CEO): The forest floor is covered in tinder. All it needs is a spark, no one knows where it will come from.
And Ray Dalio - "We're just waiting to see which needle bursts the bubble"
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We're basically just waiting to see which big bank goes under first, at which point the mainstream media will report it as a crisis.
But it's already a financial crisis, just unfolding in what feels like slow motion, even though it might end up being faster than 2008.
Jon Brooks@jonbrooks
Private credit defaults just hit the highest level since 2008. 40–50% of that is tied to real estate. Most people have no idea.
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When good planting softens new architecture: This house is tucked behind a Georgian terrace in... LONDON
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@MortgageMikeN2 On a £250K mortgage for an average house, that's almost £200 extra in monthly mortgage payments. Add in fuel (if using to get to work/drive children to school) and utility bill increases, and households could easily be expecting to pay £500 extra a month in bills.
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@MyraButterworth What really hurts is quoted a Santander 60% LTV on 6th March at 3.51%, that’s now 4.87% 🤯🤯🤯
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@MarkDampier The opening two sentences alone are pretty punchy! "Since the beginning of March the market outlook for UK interest rates has moved from anticipating two interest rate cuts, to three interest rate increases. This is an extraordinary level of volatility."
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Time for some straight talking from Bank governor about UK economy
I do hope the politicians and The Bank reading this column
thetimes.com/article/4664cb…
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