… shouted the land bankers home builders, and their wishes were granted. From the BBC: A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week’s Budget. The government will offer incentives to lenders, bringing back 95% mortgages which have “virtually disappeared” during the pandemic, the Treasury says. Chancellor...

We note that the budget consits mostly of minor adjustments. The new scheme for “helping” first time buyers does nothing but boost the housing bubble, which we can only assume is cynically intentional. A further land price booster will also continue: the current temporary Small Business Rate Relief, which was due to end on 31 March 2013, will now continue until the 31 March 2016. However,...

UK house prices surge by 5.8%. Hurrah! Hurrah! Guardian article here.

Britain’s rapid housing market recovery has sparked a scramble for land, writes Gill Plimmer in the FT. Bidding wars between building groups are pushing prices up 10 per cent or more. As sales of new-build homes have surged, on the back of the government’s controversial Help to Buy scheme, land traders say they are seeing six to 10 buyers competing for some sites, compared with just...

The government is laying the foundations to the next property boom with your taxes.

For some light relief, try this article by Financial Times journalist Chris Giles, who has a novel suggestion about how to kick-start the housing market, which is no more daft than most of the proposals being put forward seriously.