Property

Why second-homers are buying in Portugal

In recent years Portugal’s been pulling away from its image as a place for golf-playing retirees. Now it’s a fashionable and increasingly upmarket destination for home buyers who are drawn by its tax benefits coupled with its unspoilt coastlines and low-octane lifestyle. As of December 2021, there were 42,071 Britons resident in Portugal, according to the SEF, the Immigration and Border Service, the second largest group of foreigners behind the Brazilians. It is extraordinary that although the figure has fallen a little since 2020 – the pandemic has played its part – prior to Brexit, Britons made up only the sixth largest group of foreign residents in Portugal. But the Portuguese

Is the house price boom about to end?

Will the housing market crash? We have been asking the question for two decades now are prices climbed to ever higher multiples of earnings. But apart from a few months in 2008 and early 2009, when prices did slide appreciably, it never seems to happen. Stock market corrections come and go but nothing will seem to dislodge housing from its inflated heights. Having just gone through the most unlikely property boom in history, however – in which prices have surged throughout a pandemic – it is worth asking again. If we really have reached the end of the age of ultra-low interest rates that would remove the engine that has

Inside the Henley town house with connections to Henry VIII

Being Henry VIII’s confessor must have been a nerve-racking job, but it’s one John Longland – who also held the titles Dean of Salisbury and Bishop of Lincoln, and was thus a major ecclesiastical figure of the Tudor era – held with aplomb. Although he was closely associated with influential men (and bigger names) such as Sir Thomas More and Cardinal Thomas Wolsey, his role in one of the most turbulent chapters in British history has secured his legacy, and given him a walk-on part in Shakespeare’s Henry VIII, as well as many a modern-day small screen bodice-ripper. As the famous story goes, when the athletic, handsome Henry became infatuated

There’s more to paint than Farrow & Ball

Hands up if you’ve ever had your house decorated and strategically placed a couple of empty tins of Farrow & Ball Dead Salmon on the doorstep so the neighbours appreciate your excellent taste. It happens a lot, says Henry Prideaux, a London-based interior designer who agrees that a certain kind of paint brand, ‘can appeal for a variety of reasons, whether it is for its environmental credentials, ease of use, or value for money. Sometimes though, it’s a case of keeping up with the Joneses and impressing your friends by using the best and most expensive.’ At £52 for a 2.5L tin, it’s clear that Farrow & Ball has become a dictum

I’m stuck in Surrey, get me outta here!

After most of Islington moved to Wales, it was foolish of me to think about following. But the need to escape from Surrey becomes ever more pressing by the day, with housing developments, racing cyclists and incompetent dog walkers bearing down on us so hard we cannot bear it much longer. The builder boyfriend has almost finished the renovations, with the top floor insulated and made into a storage area. We can’t afford to do the loft conversion for which we have planning permission, so we have lined and presented the space at the top of the house in all its empty glory so that buyers can see the potential

Why Wiltshire trumps the Cotswolds in the race for rural homes

Wiltshire’s property prices have been given a shot in the arm during the pandemic. It’s one of those desirable rural locations that has suddenly became even more popular as we have veered from daily commuting towards flexible working. Historic towns such as Salisbury, Marlborough and Warminster have been perennial favourites but are attracting buyers looking for more bedrooms (and larger gardens) for their buck, with the low-key villages of bucolic areas such as the Vale of Pewsey and Nadder Valley in demand. ‘Buyers who previously might have been looking in Oxfordshire and Hampshire are now looking at Wiltshire where prices are typically 25-30 per cent less,’ says Mark Lawson of

The rise of the ‘secret’ property market – and how to break in

All the best houses can be found on Rightmove, right? Well, actually no. Increasing numbers of properties are being sold ‘off-market’ in an environment where there’s very little supply and a range of motivated buyers. How can you access these properties if you’re looking to move and how can you avoid getting stung? There are some interesting misconceptions about the way the property market, particularly the residential market, in the UK works. Understanding the competing forces is wise in such a competitive market. Many forget that the role of an estate agent is to look after the interests of the seller, not the buyer. When you see a property online or via

The difficult decisions that come with downsizing

I’m perched on the bed reading an old Mothering Sunday card. It’s just one item in a box of miscellanea that I must sort and prune and I really can’t afford the time to linger. That box contains a fraction of what I have to deal with before I move house and I need to crack on. But I am sweating the small stuff. I’m sure I’m not alone in this. One of the legacies of lockdown has been a longing for more space. Across the UK, families with children are falling over themselves to find bigger places. It’s a downsizers’ market right now for those of us who feel

The London property hotspots most likely to gain value

The preponderance of publicity over the last 24 months exhorting Londoners to abandon ship has left some areas of the capital looking like relative bargains or at least lagging behind widely hyped price rises elsewhere in the UK. Indeed, the average property price in Cambridge is now higher than that of the capital. Anecdotally, the stress of moving under duress has meant a significant number of those recently ‘lost’ have now returned to areas like Wandsworth, Hammersmith and Fulham. Many buyers have rented for a time in order to attempt a rural purchase before deciding to return. According to data from propertymark, there were an average of 29 buyers for every available

A house hunter’s guide to Sussex

Bracing sea air, walks along windswept dunes and early-morning dips in the surf …living by the seaside can be just the tonic for mind, body and soul. What’s more, with greater opportunities for remote working, it’s in vogue. According to the agent Knight Frank, the sale of coastal homes increased 19 per cent over the five-year average, in 2021 with the biggest increase in south-east England: 217 per cent. With Sussex spanning the lion’s share of the south coast, it’s often the go-to spot for movers and second-home owners from London, with train journeys between 60 and 90 minutes. But whether you seek sailing, peaceful beaches or the buzz of

Why work from homers are buying in Barbados

Life in the world’s newest republic is sweet. It’s peak season in Barbados, and another wave of Covid hasn’t stopped the rum sundowners flowing on the Caribbean island’s sugar-sand beaches. Given half the chance, many of us might well prefer to spend January wafting between beachfront restaurants and sun loungers, as the packed front-end of planes heading there during December have proved. Many of the island’s predominantly British holiday home owners have been heading to their properties on the West Coast of the island – and there will be no doubt a few villas changing hands too. ‘In the early stages of the pandemic there were a few nervous owners worrying whether

The rise of the London pied à terre

There’s nothing new about having a London pied à terre. For many based in the country yet working in the city having a ‘flat in town’ is a matter of convenience, whilst for those seeking to enjoy theatre trips or other metropolitan pleasures, it’s rather a luxury. Yet it’s been an increasingly expensive to acquire one since April 2016 when a stamp duty surcharge on second homes added an extra three per cent to each tax band, and when last year’s coronavirus lockdown made everyone flee to the country, flats in the capital were cast off rather than coveted. But what a difference a year can make. With the daily commute

How to prevent house theft

The heart breaking story of the Luton vicar who had his house recently ‘stolen’ from him by fraudsters has rightly touched a nerve with property owners everywhere. The horror of arriving at your own home to find your keys no longer work in the lock and the house now legally belongs to someone else might seem like a rare experience.  But unfortunately it’s more common than anyone might imagine. Indeed the first time I can remember it happening was in the early 80s and involved a house in one of the most expensive streets in London and a foreign Princess. The major problem with investigating, let alone reporting, this sort of fraud is that victims

The problem with online property searches

In 1966, the legendary adman David Ogilvy set out to buy a home in France. He boarded a transatlantic liner to meet a French estate agent who had a perfect house waiting for him in Paris, but while still in mid-ocean he heard he had been gazumped. There were presumably other houses on sale in Paris at the time, but it seems the agent did not show David any of them. Instead he suggested they board a train to Poitiers, 200 miles away, to an area David later described as ‘the South Dakota of France’. On the banks of the Vienne stood a decaying 13th-century château with around 30 bedrooms

Why building more houses won’t bring prices down

Does the law of supply and demand apply to housing? In other words, will building more houses and flats bring down prices? There is a growing economic consensus that the surprising, and rather counterintuitive, answer is: not to any significant extent. It is a conclusion that has revolutionary implications for housing policy, and what we need to do to help people realise their dream of owning their own home. Ian Mulheirn, chief economist at the Tony Blair Institute, concluded in a recent paper for the UK Collaborative Centre for Housing Evidence:  ‘The large body of literature on the responsiveness of house prices to supply indicates that even building 300,000 houses

Fit for a Queen: why Windsor should be on your property radar

It’s rumoured that Prince William is considering a move from Kensington Palace to be closer to his grandmother in Windsor. Since her return from Balmoral, she has based herself full time at Windsor Castle and it’s certainly a great town but should you consider moving there too? Years ago I worked with American investors looking to buy commercial real estate in the UK. One thing they could never quite appreciate is how old everything was. They’d often ask why anyone would build Windsor Castle under a flight path. I’ll merely leave that there with a raised eyebrow and let you know that an original castle was first built on the site

Letters: Let the housing market collapse

Treading the boards Sir: As a teacher, I was sorry Lloyd Evans did not include school productions in his excellent assessment of the cultural devastation inflicted by Covid-19 (‘Staged’, 3 July). While cancellation of West End shows is a tragedy, far more damage will be done to the thousands of children whose one chance to watch or perform in a play or musical has been taken away. These humble, often cheerfully disastrous, amateur productions bring pupils together in a way nothing else can. W. Sydney Robinson Oundle, Northamptonshire Big bad builders Sir: I enjoyed Liam Halligan’s comprehensive assessment of the appalling state of the UK building industry and the dire

The Nicola Sturgeon effect on house prices

Nicola Sturgeon depresses me and seems to be having the same effect on Scottish house prices. In a housing market described by departing Bank of England economist Andy Haldane as ‘on fire’, the flames have been rising higher the further away from London — but more or less extinguishing themselves at Hadrian’s Wall. Why buyers are scarcer in Nicola’s domain is a question I’ll leave to our political writers, but the broader picture of soaring home prices across the rest of the UK is an unforeseen pandemic effect that may have painful consequences. Nationwide’s June data shows an annual price-rise bar chart increasing steadily from 7.3 per cent in London

Letters: We can’t build our way out of the housing crisis

Excess demand Sir: Liam Halligan (‘The house mafia’, 26 June) treats us to an exposé of the shoddy products of the mass housebuilders. In the course of his article, however, he accepts as given that the solution to the housing crisis is to build more houses. The problem, however, is not one of deficient supply; it is a problem of excess demand, driven by ultra-low interest rates, kept so low for so long that the result has been an out-of-control housing boom. The young are being prevented from buying a house, not because housebuilders hoard land and refuse to build, but because buyers with access to eye-watering amounts of borrowed

Rod Liddle

The political baggage of moving house

We are currently house-hunting — please let me know if you have one going spare. We are looking for a home in the north-east of England in any constituency which was once solidly Labour and is now in the talons of a brutally right-wing Conservative MP — this is my wife’s stipulation and I find it fair enough. However, we do not want to live too near the poor people. In truth we had been casually looking across a vast swath of Northumberland, Durham and North Yorkshire for a good half-dozen or more years, but until now there had been little urgency to the business. We marvelled at the property