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Church Lane, London N2 8DT

Jun 25th, 2012No Comments

Flat D, 42 Church Lane, London N2 8DT

A new 125-year lease. Fantastic selection of newly refurbished one bedroom luxury flats in the sought after East Finchley area. Finished to a fantastic specification, these properties benefit from being within the catchment area of sought after local schools, extensive local amenities,  and are within 0.9 miles of East Finchley Tube Station. The flats have a secure video entry system.

Flat D Church Lane

Carltone Property Guide To London Areas

Dec 5th, 2011No Comments

Carltone Property Quick Guide To Areas of London

If you are thinking about relocating to London for work, now is the time to start looking into the different suburbs and areas in London that you might want to live in. Finding a home in London is not as easy as it might seem – properties in the British Capital sell fast and for high prices. You might be wise to consult with one of the excellent relocation agents who will help you find the perfect apartment or house in an area that suits you.

Each different area in London has its own pros and cons, and each one has its own personality. You need to look at the features you require from an area – such as schools, shops, dining, and medical facilities – you can then start looking for potential rental homes suitable for the duration of your stay. Although the Internet makes it far easier to look at properties and find out about areas than it used to be, it’s not the same as actually being there in person – you will only really be able to properly assess each area once you are on the ground. Take a walk around the area and see if it lives up to your expectations before renting a home.

North London

Pricey suburbs where  the rich and famous choose to live. These suburbs have a distinctly village feel to them, with plenty of open spaces and are great for families. If you have the cash, Hampstead and Highgate are the most desirable suburbs to choose.

South London

A lively area that has undergone great change in the past few years. While the great North London vs. South London debate will always be lively, there are some charming and dynamic areas in South London that are great if you have a job nearby and if you like enjoying the interesting nightlife that South London has to offer. Clapham and Brixton have undergone massive urban development recently and have become suburbs of choice for many expats living in London.

East London

Traditionally this has not been an area that many expats choose to live in, but recently there have been more people choosing to live in suburbs that are close to the city, such as the beautiful suburb of Greenwich and the urban renewal areas of Canary Wharf. There are some pretty pricey apartments along the river, but they have great views and are considered prime real estate locations.

West London

Traditionally this is considered a transient area of London with plenty of Aussies and South Africans living here. It does have a great nightlife and there are an astonishing amount of pubs in the area. The prices of London apartments in this area are quite reasonable and if you are looking to buy real estate then you might some real gems in suburbs such as Hammersmith or Shepherd’s Bush.

Look Before You Leap!

You really need to have a list of items that are important to you before you start looking for a home in London. Like any big city, London is incredibly diverse – you might not find what you are looking for as soon as you land in London. If you know that you are going to be in London for a number of years then you should take a bit of time to find the perfect home for you and your loved ones. The time you invest in finding the right location now will repay you in the years to come while you are living in your new London home.


Property News, UK And World Economy Week 3 November 2011

Nov 16th, 2011No Comments

Property News and the UK and Overseas Economies

Eurozone Problems Continue

Governments in the Eurozone again looked over the precipice last week before taking two steps back. In Greece and Italy, the price of multilateral and market support, respectively, was the replacement of elected prime ministers by technocrats. Lucas Papademos and Mario Monti are regarded as the independent minds and steady hands to deal with the crisis. They are also seen as more likely than elected leaders to push through the austerity packages and economic reforms, which creditors and other governments have demanded. Alongside this, pressure is rising on the European Central Bank (ECB) to act as a lender of last resort, as other central banks do, although that contravenes the Treaty of Maastricht. All of this reflects the considerable costs that would flow from, either a disorderly default or, worse still, a country exiting the euro.

Euro In Intensive Care

The euro is still alive, but in intensive care. The Eurozone crisis is still dominating the economic headlines and until there is greater certainty about what will happen, it’s difficult to see where the global economy will go next. It’s clear that we are in a very dangerous phase, but things are still not moving quickly enough to quell fears about the collapse of the currency. This void is now causing worries about the stability of the banking system, which has even greater implications for the health of the global economy. EURIBOR spreads above policy rates, an indicator of the risk the market sees in the banking system, have risen sharply, reflecting increasing concerns about bank exposures to sovereign debt.

EC Warnings and Downgrade

The European Commission warned of recession and downgraded its GDP forecasts. The path out of the current crisis depends on growth, as much, if not more than austerity. But the prospects for this recovering rapidly are evaporating. The European Commission downgraded its forecast for 2012 GDP growth from 1.8% to just 0.5% and warned of the risks of a new recession. This doesn’t come as good news and simply highlights the difficult road ahead for Eurozone policymakers.

No Change To UK Monetary Policy

No change to UK monetary policy in November. The Monetary Policy Committee left UK monetary policy unchanged at its November meeting. The Inflation Report this week will shed more light on the Bank’s interpretation of the situation. But there is no doubt that the monetary authorities will be considering their policy options given the depleting arsenal of ammunition at their disposal, particularly in the face of the ongoing Eurozone crisis.

UK Trade Deficit Worsens Again

UK trade deficit worsened again in September. Rebalancing the UK economy towards exports is proving difficult to sustain. The UK’s trade balance widened by £1.2bn in September as growth in imports outstripped exports once again. After five months of deterioration the overall trade deficit reached £3.9bn – its highest since December 2010. The value of exports increased a little (0.2%m/m), but volumes fell (1.6%m/m). Meanwhile import volumes and value rose by 1.6%m/m and 3.8%m/m respectively, leaving the balance of trade in goods with a £9.8bn deficit.

Disappointing Industrial Production

UK industrial production disappointed in September. Overall industrial production dropped for the third consecutive month in September. Manufacturing production actually rose by 2%y/y, but this was outweighed by a 14.7%y/y drop in mining and quarrying. Factory output was encouraging. It rose for the first time in four months between August and September. But this is probably not strong enough to dispel concerns from the Purchasing Managers’ Index which shows the sector struggling amid poor domestic and external demand.

Property – UK Mortgages and Repossessions Remain Low

UK mortgage arrears fell in the third quarter while repossessions were stable. Even though UK economic conditions are worsening, mortgage arrears and repossessions have remained low. The number of repossessions per quarter has been virtually unchanged since the start of the year at 9,200. But arrears have improved. The number of mortgages with arrears of 2.5% or more of the total balance fell by 2%q/q and 8%y/y to 161,600, or 1.61% of all loans. But 17% of these have arrears of 10% or more. This proportion has increased steadily for the last eighteen months and highlights the growing vulnerability of households (and the housing market) to further income squeezes.

Japanese Economy Returns To Growth

The Japanese economy returns to growth. The Japanese economy grew by 1.5%q/q in the third quarter. This was a welcome relief after three quarters of contraction from supply disruptions due to the earthquake. But there is a sting in the tail too. Weaker global growth will affect Japan’s ability to export and so will the strength of the yen. The appreciation since September has concerned the Japanese Government and caused it to intervene in the market to stem its rise.

News on the UK And World Economy Week 2 November 2011

Nov 9th, 2011No Comments

News on the UK Economy and Overseas

Continuing Eurozone Problems

Problems in the Eurozone are still dominating the global economic landscape and hijacked the G20 agenda in Cannes. Political shenanigans over a referendum on austerity measures in Greece threatened to bring down the bailout agreement, while worries about Berlusconi’s ability to deliver debt reduction sent Italian bond yields to new record highs. The effects of the ongoing uncertainty are being felt all over the world as equity markets sink and policymakers search for ways to stimulate some growth. The incoming president of the European Central Bank, Mario Draghi, opted to reduce rates at his first meeting. In the US, the Fed held fire for now, but left the door open for future monetary stimulus. It looks like political events are dominating sentiment for now – and both are changing day by day.

The Eurozone debt crisis dominated the G20 agenda – again. Worsening economic and political conditions in Greece and Italy overtook the G20 discussions. The G20 did not commit to more funding of a financial safety net, effectively deciding that Europe should sort out its own problems. But it did agree to keep a beady eye on Italy’s progress on promised reforms. The markets will need to see some progress on this soon though. Italian bond yields reached record, and close to unmanageable, highs. With Greece’s economic and political situation still on a knife edge too, European policymakers will be keeping their fingers, and everything else, crossed for a bit of stability soon.

Stronger UK Economy Growth

The UK economy grew strongly this summer, but there’s a sting in the tail. The preliminary estimate of UK GDP showed that the economy grew by 0.5%q/q in Q3, a welcome five-fold increase on the 0.1% rise in Q2. But the underlying picture is less rosy. The UK economy is only 0.5% larger than it was in the summer of 2010 and no bigger than it was in 2006. More worryingly, the October reading for the UK’s manufacturing Purchasing Managers Index was surprisingly weak.  The index fell to 47.7, unambiguously in contraction zone as new orders and employment intentions also fell. The service sector may dominate in the UK economy, but such a weak assessment from manufacturers raises the risk that the economy will shrink in the final quarter of the year.

UK Housing Still In Doldrums

The UK’s housing market is still in the doldrums. Nationwide reported a 0.3%m/m increase in UK house prices in October which brought the annual change back into positive territory for the first time since March. But the less volatile three monthly change, a better indicator of the underlying trend, fell to -0.6%. Land Registry data confirms that London is still surging ahead, particularly in the most exclusive areas. Things don’t look that much better ahead either. Consumers still expect prices to fall, which will keep a lid on demand and may already be affecting activity. Mortgage approvals for house purchase fell for the first time in five months in September.

Interest Rates Cut in Eurozone

More gloom in the Eurozone leads to an interest rates cut. Mario Draghi, the new President of the European Central Bank (ECB), made a splash at his first meeting. Eurozone inflation climbed to 3%y/y in October, but in spite of this he announced a surprise 25bps cut in interest rates to 1.25%. Looser monetary policy was justified by recent economic indicators which suggest a sharp economic slowdown in the euro area and the expectation that inflation pressures will ease as the economy cools. The ECB also warned that its Eurozone growth forecast is likely to be revised down, possibly as far as a mild recession.

Unchanged Interest Rate in US

Steady as she goes at the Fed. The Federal Open Market Committee (FOMC) left interest rates and the quantitative easing programme unchanged at its November meeting. Even though there was a rebound in the economy during Q3, the outlook is still weak, with ‘significant’ downside risks. As a result the FOMC reduced its growth forecasts by 1% for this year and next. It raised its inflation forecast, but is still committed to keep interest rates steady until the second half of 2013. With an eye on the weakening economic climate Chairman Bernanke raised the possibility of additional stimulus via more purchases of mortgage backed securities, depending on how economic conditions unfold.

Unemployment Down, but Wages Growth Anaemic

US Payrolls fall short of expectations. The US economy added 80,000 jobs in October, less than the 95,000 expected. Unemployment edged down from 9.1% to 9%, but wage growth was anaemic at 1.8% y/y. Revisions to previous data provided some better news with 100,000 jobs added to the figures for August and September. While employment growth is welcome, it’s only at trend level, at best, and far below the rate we would expect from experience of past recoveries.

News on the UK and World Economy Week 4 October 2011

Oct 28th, 2011No Comments

News on the UK Economy and Overseas

Inflation and the Eurozone

Despite UK inflation reaching it’s highest rate since the early 1990s, the Monetary Policy Committee was unanimous in its decision to increase its asset purchase scheme (QE) by £75bn. This is a clear demonstration that the MPC is deeply concerned about the effects of the Eurozone crisis on the UK economy. European leaders are struggling to agree a lasting solution to the Eurozone crisis. The failure of French and German policymakers to find common ground increases the risk that they lose what little control of events they still have. High stakes indeed, and not just for Europe but the world economy.

Quantitative Easing

‘All aboard!’ the Bank of England united in the need for “quick and decisive action”. The Monetary Policy Committee voted unanimously to increase its asset purchase plan by £75bn and hold rates unchanged at 0.5% at its October meeting. They concluded that a second round of Quantitative Easing (QE) was necessary due to the deterioration in global growth and renewed tensions in financial markets. The tone of the minutes suggests that we could well see more QE if the economy deteriorates further, with some members suggesting a larger round of QE was necessary in October.

High Inflation

With CPI inflation reaching its joint highest-ever rate, the decision to undertake further monetary stimulus has raised some eyebrows. UK inflation hit 5.2%y/y in September, up from 4.5% in August. The main drivers – higher gas and electricity prices – will not have surprised many as they were already ‘baked in the cake’. Judged in old money, RPI inflation rose to 5.6%y/y in September – the highest since June 1991. At that time, the Bank of England base rate was 11.5%. That they remain at 0.5% today shows the fragility of the UK recovery. The Bank, however, remains confident that inflation will slow markedly in 2012, as temporary drivers such as the rise in VAT and energy prices fade.

Growth in Non-High Street Retail

Strong growth in retail sales bypasses the high street. The volume of retail sales increased by 0.6%m/m in September, yet all of the growth came from ‘non-store’ (i.e., internet) and fuel. This offset declining sales at clothing & footwear stores and, to a lesser extent, food stores. Compared to this time last year, sales are basically flat (up 0.6% y/y), with small stores seemingly doing better than large stores. If retailers are looking for some good news, perhaps they can console themselves that demand seems to be firmer than in most parts of consumer spending and that growth is probably about as good as it can be, given the wider pressures on household spending.

Stalemate in Europe

Necessity may be the mother of invention, yet European policymakers are struggling to find a solution to the debt crisis. French and German policymakers were unable to reach agreement on a plan to shore up the Eurozone during this weekend’s summit. Instead, they will meet again on Wednesday in an attempt to engineer a solution to the crisis. Issues that need to be resolved include a reduction in the Greek debt burden, support for the European banking system and the prevention of further contagion to other member states. The point of stalemate is how to maximise the EUR440bn European Financial Stability Fund’s firepower. French proposals include turning the fund into a bank, which could borrow from the ECB. This way increases the level of direct support the French Government can provide without jeopardising the credibility of its own public finances.

US Inflation Rises

The US inflation rate rose to a three-year high in September, but there are signs it is moderating. The US CPI rose 3.9%y/y in September, up from 3.8% in August. However, monthly comparisons suggest that price pressures may be fading, as inflation climbed at its slowest m/m rate in three months. Furthermore, lower costs for second hand autos, rents and the biggest m/m drop in clothing prices caused core price pressures to moderate between August and September.

Growth Slows In China – Still Solid

China’s economy facing harder times but there’s no sign of a hard landing. China’s GDP slowed from 9.5%y/y in Q2 to 9.1%y/y in Q3. China’s growth will continue to slow in the coming quarters due to weaker exports and the lagged effect of higher interest rates. However, domestic growth remains very solid. This should keep growth above the 8% mark in the near-term. As evidence of this, retail sales grew almost 18%y/y in September, while industrial production grew 14%.

Source: National Westminister Real Estate