Property

Why the Budget let banks off the hook

‘Banks don’t vote and citizens don’t love them, so they’ll always be the Chancellor’s target of choice,’ I wrote in September when one of this autumn’s many false Budget trails pointed towards a left-pleasing extra surcharge on bank profits. But it didn’t happen: partly because Rachel Reeves was love-bombed by Goldman Sachs chief David Solomon and JPMorgan chairman Jamie Dimon, promising new investment in the UK if she held off; partly because she had evidently figured out that a raid on banks that already pay higher tax rates than in any other major financial centre – many of whose bosses are already packing to move to Dubai – would make

Why does the Latin mass prevail?

The Pope is visiting Lebanon and Turkey. Will anyone be raising the vexed question of the Latin mass and sacraments with him and asking him exactly why it is so vexed? Though Jesus spoke Aramaic, the New Testament first appeared in Greek in the 1st century ad because that was the common language of the Mediterranean. It remained the language of the liturgy until Pope Damasus I (d. ad 384) invited St Jerome to translate the whole Bible into Latin (the Vulgate: vulgatus, ‘widely used, common’). The Roman empire collapsed in the 5th century ad and local languages started replacing Latin, but the Roman liturgy remained standard in western Europe.

Should a two-bedroom flat worth £2m be called a ‘mansion’? 

Many mansions Does a two-bedroom flat worth £2 million deserve to be called a ‘mansion’? — The word ‘mansion’ is borrowed from the old French mansion, which means any old house. And so it was in English until the 18th century. It also had associations with a home lived in by a priest. — The first instance of ‘mansion’ being used specifically for a grand home was in 1512, according to the OED. In 1865, the word was being applied to lodging houses in Brighton, while the Westminster Gazette in 1893 defined it as a house with a back staircase. By 1901 blocks of flats in London were being called

Why would anyone live in a listed building?

When Zoë Cave Hawkins bought a run-down townhouse in the heart of the cathedral city of Winchester, she was fully aware that getting permission to update the Grade II-listed property was going to be a bit of a hassle. But the reality was far worse than she could have imagined. As fast as her architects could draw up plans, a phalanx of planning officers, listed building officers and conservation officers would descend to rip them up.  A proposal to build a terrace above the new flat-roofed kitchen extension was nixed because it would mean replacing a series of original windows on the first floor with modern French doors. A new door to an

Why don’t we order houses from a catalogue?

One possible solution to the housing crisis is to convene a group of experts in property, housebuilding, planning and local government and then ask them for proposals to put an end to the appallingly slow rate of construction and development. Another possible solution to the housing crisis is to convene a group of experts who know absolutely nothing about property, housebuilding, planning or local government and ask them for proposals to put an end to the appallingly slow rate of construction and development. My money’s on the second group to solve the problem. We vastly underestimate the value of healthy ignorance in overcoming seemingly intractable challenges. There is a Chinese

Landlords need protecting too

Do you know how much faeces 30 dogs can produce over a couple of years? I have some idea because I recently helped my mother regain access to the small cottage adjoining her house, after she had rented it out to a nightmare tenant who caused incalculable damage. It took nine months to evict the tenant after she stopped paying rent, having already been in considerable arrears. Reclaiming the property proved onerous and expensive, involving legal instruction and eventually High Court enforcement. Upon finally entering with enforcement officers, some of us retched. We found half an inch of dog mess all over the floor and smeared across walls; empty bottles;

Angela Rayner and the spite of Labour

As a snapshot of our country, you’ll be pressed to find anything quite so resonant as the one which depicts a leading member of our Skankerati sitting in an inflatable off the southern coast of the UK with tattoo and vape in attendance. There has been much debate of late about the very large numbers of other people bobbing about in the English Channel – and the possible value they might be to our benighted economy. We could ask the same question about Angela Rayner. On paper she is a huge cost to the Exchequer, one which would easily outstrip even a fairly successful Albanian drug dealer. Henceforth, then, it

How many homes in England have air conditioning?

Suit cases Volodymyr Zelensky again failed to wear a suit and tie to a meeting at the White House, in spite of being asked to do so – although Donald Trump did say he looked ‘fabulous’ in his black button-up suit. What did Allied leaders wear to the great conferences in the second world war? — Cairo 1943: Winston Churchill wore a white suit with bow tie; Franklin D. Roosevelt a lounge suit with striped tie; and the Chinese leader Chiang Kai-shek a military uniform. — Tehran 1943: Churchill and Stalin both wore military uniform; Roosevelt wore a pinstriped suit. — Yalta 1945: The photo session was held outside in

Land value and the Somebody Else’s Problem paradox

‘The Somebody Else’s Problem field can be run for years on a single torch battery. This is because it relies on people’s natural disposition not to see anything they don’t want to, weren’t expecting or can’t explain.’ The SEP, as I hope many of you remember, is a cloak of invisibility featured in Douglas Adams’s Life, the Universe and Everything. It perhaps arises from a universal aspect of socially driven behaviour – one which encompasses the Bystander Effect, the Overton Window and the Too-Difficult Box. Strangely, Donald Rumsfeld misses out one of the four (un)known (un)knowns: he does not mention ‘unknown knowns’ – things that we know but aren’t aware

How happy are private renters?

Coined terms Liz Williams, a Reform UK council candidate in May’s local elections, began a High Court action trying to overturn the result after she lost on the toss of a coin, having tied with the Green candidate Hannah Robson. The toss of a coin has been used several times to decide local elections. Has chance favoured a particular party? 1987  Labour candidate Bob Blizzard defeated the Conservative May Reader in Pakefield Ward of Waveney District Council after the toss of a coin. 2000  Labour defeated the Conservatives on the toss of a coin in the Worksop North East ward of Bassetlaw District Council. 2007  The Tory Christopher Underwood-Frost defeated

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

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

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

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

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

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

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

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

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

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