Property

Thursday

Martin Vander Weyer

Don’t compensate drivers for mis-sold car loans

Surprisingly big numbers are the theme of this week’s column, several having flashed up to disturb the pleasures of a summer season of parties, music and sport. The first is the 69,000 tally of jobs shed in the UK hospitality industry since the increase in employer’s national insurance contributions in October’s Budget – the most destructive legislative measure for business in recent memory, except perhaps for the Employment Rights Bill that’s expected to receive Royal Assent before parliament’s recess this month. The UKHospitality trade association thinks losses could rise to between 150,000 and 200,000 by the autumn, as 70 per cent of member businesses cut more staff and pub closures

Thursday

Flora Watkins

Suburbanites vs the countryside

‘Same old boring Sunday morning, old men out, washing their cars.’ So begins the punk anthem ‘The Sound of the Suburbs’ by the Members. There are plenty of cars being washed (and waxed) on my road on any Sunday morning and the strimmers are buzzing, despite this being peak breeding season for insects. But here’s the thing. We live in deepest north Norfolk, not the achingly suburban Surrey town of Camberley that so provoked punk angst. When we bolted from south London after the lockdowns, our checklist included no streetlights, motorways (the nearest is 98 miles away), new-builds or nearby neighbours. To secure the rambling farmhouse we wanted, we had

Thursday

Rory Sutherland

In defence of the Trump playbook

The standard explanation for why charges for plastic bags reduced waste is economic. People were reluctant to pay 10p for a bag and so brought their own instead. This is partly true. But it would still be highly effective if the charge for a bag were merely 1p. That’s because charging any amount, however trifling, was sufficient to change the implicit assumptions about normal retail behaviour. Previously, if you went into Boots and bought, say, a toothbrush and a tube of Anusol, the default was for the cashier to put them in a new bag – it would have seemed rude not to do so. Suddenly, however, the imposition of

John Power

How to game the social housing system

Westminster council has announced that every single social housing tenant in the borough will receive lifetime tenancies. No test of need. No review of income. No incentive to move on. Once you’ve been awarded a property, you can stay as long as you like. When you die, your adult children may be eligible to inherit the lifetime tenancy too. Social housing tenants in Westminster pay around a fifth of what renters on the open market spend. They also have access to more than one in four properties in the borough, from flats in postwar estates to £1 million terraced houses. The council says it’s bringing stability to people’s lives but

Thursday

The Spectator

Which pope has served the longest?

Papal reign The mostly elderly runners and riders to be the next pope are unlikely to challenge the record for the longest papal reign – still held by the very first pope, St Peter, who served for 34 years in the 1st century. The second-longest reign was the 31 years and 7 months served by Pius IX between 1846-78, while third was Pope John Paul II (1978-2005). John Paul II was preceded by one of the shortest papal reigns in history, that of Pope John Paul I, who died just 33 days after being chosen in August 1978. Nine have lasted less than a month: Urban VII lived for just

Monday

Ysenda Maxtone Graham

The war on the London pied-à-terre

Let’s say you’re a young woman working in London, and you own a one-bedroom flat in Islington. You fall in love with a chap who has a nice house in Devon. You marry him.  As soon as you do that, you’ll no longer be allowed to park your car outside your Islington flat in the daytime, except on a meter for a maximum stay of two hours. A married couple is only permitted one primary residence between them, and the larger country house will most likely be designated the main home. In all central London boroughs (not just Camden as in this example), you’re not eligible for a resident’s parking

Tuesday

Ruth Bloomfield

How Trump is fuelling London’s prime property boom

From Henry James and T.S. Eliot to Wallis Simpson and (albeit briefly) Taylor Swift, US expats have had a long love affair with London. But over the past year the number of Americans – overpaid, what with their favourable exchange rate, oversexed, possibly, and certainly over here – has been escalating fast.  In 2024, 6,100 Americans applied for British citizenship, the most since records began – in what’s been dubbed the ‘Donald dash’. And it seems it’s the wealthy who are leading the charge. According to estate agent UK Sotheby’s International Realty, four in ten of the $15 million-plus properties sold in the British capital last year went to US

Thursday

Martin Vander Weyer

Do not be hypnotised by Trump’s America

I’ve been judging a beauty parade, but I hasten to add that no bikinis were involved. Four leading investment firms were competing for the mandate to manage a charitable endowment – and offering insights into the way professional stock-pickers see the world. First, despite (or if you’re a disciple, because of) the madness of Donald Trump, any portfolio designed for even a moderate-risk UK investor will be heavily weighted towards US tech and consumer stocks. On the other hand, none of the pitches said anything about China or other previously fashionable emerging markets. And their lack of enthusiasm for pure UK equities (as opposed to London-listed multinationals) was impossible to

The Spectator

How many people live in leasehold properties?

Back to the palace Donald Trump was invited for what will be his second state visit to the UK. Who else has been on more than one? – Olav V of Norway was entertained twice, in October 1962 and again in April 1988, although never at Buckingham Palace. On the first visit he was received at Holyrood Palace and the second Windsor Castle. – Margrethe II also undertook two state visits, in April 1974 and again in February 2000, both times to Windsor Castle. – Monarchs have an advantage as they tend to hang around for longer. Trump will be the first president to enjoy a second. Curiously, South Korea

Monday

Ruth Bloomfield

Why the London exodus is over

During the course of last year, Alex Greaves and his wife Sarah seriously considered moving out of London. The couple, who live in Southfields in the south-west of the city with their sons aged two and five, were tempted the idea of a new life in the country – inspired largely by friends’ idyllic tales of moving to the sticks and into a home far grander than anything they could possibly afford in the capital. In the end, though, Alex and Sarah decided to stay put. And they are not alone. In the past year the number of Londoners leaving the city has dwindled dramatically. Research by estate agent Hamptons

Monday

Ruth Bloomfield

Confessions of a ‘gazunderer’

‘John’ has a dirty little secret – one so shameful that he has insisted on anonymity in order to tell his story. Last year, while in the process of buying a three-bedroom family house in Whitchurch, Hampshire, the 42-year-old office worker committed an act which, while perfectly legal, could kindly be described as ruthless. ‘We made an offer for the house, a bit below the asking price, and it was accepted,’ explains John. ‘But over the weeks that followed we started to have second thoughts. A few friends and family members were surprised at how much we were paying for the property. ‘It got to the point where I was

Thursday

Richard Brown

Britain’s shopfronts are a national embarrassment

A few weeks ago, a couple of men with ladders started work on a former bridal boutique at the end of my road. I’ve no idea how old the building is. Its pitched roof and intricate gable and the sort of pattern brickwork no one seems to bother with these days suggest it’s Victorian, but it could be older. Beneath the first-floor windows was a decorative cornice. Under that, between a pair of attractive corbels, was a slim wooden fascia upon which the name of the shop was painted in stencilled letters. The chaps with the ladders got rid of all that. They ripped out the timber and chucked it

Thursday

The Spectator

Letters: The army that Britain needs

Common ground Sir: Katy Balls asks ‘Lawyer or leader?’ (Politics, 25 January), but it became fairly clear which Keir Starmer is when he appointed as his Attorney General Lord Hermer, a human rights lawyer. As was mentioned, Lord Hermer has often represented those rejecting British values rather than standing up for them. Sir Keir and Lord Hermer show a clear preference for international law over Britain’s common law. They ignore the reality that common law has served the nation brilliantly over the centuries. It relies on the precise written word and precedent, being non-political, transparent, predictable and fair. British laws are enacted by our democratically elected parliament which can amend

Thursday

The Spectator

Steven Pinker: The inside story of my Covid ‘bio bet’

Betting men Sir: The bet between Martin Rees and me that Matt Ridley recounts pits two kinds of scruples of disinterested rationality against each other (‘Wuhan wager’, 7 December). One is the scientific ethos that calls for factoring in all relevant information in updating one’s degree of credence in a hypothesis. The other is the logic of the epistemological tool of betting, which demands an agreed-upon fixed criterion and deadline for resolving the bet. My degree of credence has been influenced by Matt and Alina Chan for the lab leak hypothesis, but also by counter-arguments from Peter Miller for the zoonotic theory. When Martin and I joined the bet, neither

Monday

Ruth Bloomfield

Goodbye, Earl’s Court

Earl’s Court as I first remember it was where Australian travellers found a cheap bed for the night. It was also the place to go for beers with unfamiliar labels, and bags of kiwi fruit, a rare delicacy in the 1980s. And at a time when Neighbours was riding high in the TV ratings there was fun to be had eavesdropping on conversations littered with ‘fair dinkum’ and ‘strewth’. There are some troubling details: skyscrapers being built in a largely low-rise Victorian neighbourhood and the way streets at the perimeter of the site will be overlooked and overshadowed  Older generations will remember earlier waves of immigrants. There were the Polish

Thursday

Philip Womack

We’re all caught in the insurance trap

In they pour, one after another, cheerily thudding on to the doormat: ‘Thank you for insuring with us again! Now, pay us more than you earn in a year!’ Yes, it’s insurance premium renewal time – and they’re shooting up once more. Insurance premiums have swollen unstoppably, expanding upwards for all the world like a batch of evil mushrooms. In our household, home insurance alone now comes in at the same size as a monthly mortgage payment. Whack on to this car insurance (necessary), pet insurance (necessary?) and health insurance (in this day and age, yes), and you’d have to be earning the annual equivalent of Andorra’s GDP. What are

Douglas Murray

How to get on the housing ladder

It is always interesting to watch the debates that roil a nation. So far as I can see, the current debate in parliament mainly consists of trying to work out whether the NHS is competent enough to kill people or not. This week one of our greatest Home Office ministers – Jess Phillips MP – was asked about the question of ‘assisted dying’. She said that, naturally, she is in favour of this ‘progressive’ policy. But one qualm held back her support. In Phillips’s estimation the NHS is ‘not in a fit enough state’ at present to kill patients on demand. Many people whose family members have gone through the

Tuesday

Jon Morrison

The surprising second life of Colonel Seifert

There was a time, not so very long ago, when the skyline of London was dominated by the work of one architect: not Sir Christopher Wren, but Colonel Richard Seifert. But while Wren is universally admired, Seifert has been reviled. Architects hated his success; the public his uncompromising brutalist aesthetic. Yet now, more than two decades after his death, that appears to be changing. Seifert – who did a spell in the Royal Engineers during the second world war and then insisted on being addressed by his military rank throughout his life – was often said to have had more of an impact on the capital than anyone bar the

Thursday

Rory Sutherland

How to buy a house that isn’t on the market

There are many, mutually reinforcing causes of the property crisis: it is too easy to borrow; there are too many people; there aren’t enough houses; what houses do exist are in the wrong place; and many houses have the wrong people living in them. Solutions exist to all of these, some of which involve building and some of which don’t. In south-east England it is not uncommon to find people living in£1 million homes who are skint Today we are going to focus on the fifth problem. Too many people are living in houses which are too big for them. In south-east England it is not uncommon to find people

Wednesday

Gus Carter

Could inheritance tax changes help farmers in the long run?

Britain’s farmers are in a bind. Despite sitting on land worth millions, they are unable to release that wealth without selling – and many struggle to make money from what they produce. According to Defra, almost one in five farms make a loss, while a quarter made less than £25,000 last year. Yet there are parts of the Labour movement that see farmers as money-grubbing, tweed-clad elites benefiting from special tax breaks and hefty subsidies. James Buckle, a farmer from Suffolk, understands those frustrations: ‘If our farm is worth £10 million, and we’ve got these new inheritance tax rules, we’ve got to pay something like £1.6 million to pass it