Henry Pryor
@HenryPryor
Followers
37,236
Following
369
Media
3,137
Statuses
11,690
“The 🄱🄱🄲’s favourite property expert" Buying agent with 40 yrs in the business. Bid on a house a week, buy £100m worth a year. 🤖 🧌 & 👙accounts blocked.
🇬🇧
Joined February 2009
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Pinned Tweet
The end of a busy week. How’s your house-hunting going?
Call me if you want some help.
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Whispers in Westminster of removing the Capital Gains Tax exemption for principle residence that could net
@hmtreasury
£30bn a year.
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Over the past 20 years the UK population has increased by roughy 10m - that's about the populations of Scotland & Wales combined.
Over the past 20 years we have built about 5m new homes.
Any solution that doesn't include building a hell of a lot more houses just isn't credible.
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@kevinhollinrake
A plague on all your houses Kevin.
It seemed that those of you inside the Palace of Westminster think that playing party politics on an issue like Gaza is somehow excusable. To those of us outside, once again, you all brought our Parliament into disrepute.
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£90,000,000 a month! There has to be a better way to do this.
London councils spend £90m monthly on homeless temporary accommodation
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"Adam Fraser, 42, and his wife, who bought their £7 million house in Berkshire in July last year having secured a [£5.25m] mortgage in the January.
Fraser’s monthly mortgage payments have gone up from £8,300 a month to £20,000."
Fraser thought he new best.
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2-year fixed mortgage
May - 2.35%
Aug - 4%
Sept - 5.59%
Oct - 5.75%
Today.. 6.53%
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@kevinhollinrake
And I yours Kevin.
Where we appear to differ is that MPs seem to think that yesterday’s chaos was the result of just one party and that trying to pin it on one party somehow looks clever. Outside Westminster it looks opportunistic and embarrassing.
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I suspect the housing market looks very different when you're on £700k a year.
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"I've got a cunning plan, my lord, let's bring back Help to Buy!".
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Either we help people to afford what they otherwise couldn't afford
or..
We let the market fall back to prices that they can afford.
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Why has no banker gone to jail? If I screw up my anti-money laundering procedures I face an unlimited fine AND can be sent to prison for up to 14 years!!
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*Narrator - "Take a deep breath - house prices are still 23% higher than Jan 2020 and 50% higher than before the Credit Crunch in Sept 2007"
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Well said
@D_Blanchflower
👏🏻
💥WOWZERS. Professor
@D_Blanchflower
, does not hold back on the budget.
"You're the Chancellor and what you've done is you've stood up and crashed the markets... you've created a giant recession, your credibility is trashed. I have never seen such raging incompetence." ~AA
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Kids, if you want to know why rents are so expensive speak to your parents. Their generation wouldn't build enough new homes, turned properties into pensions & borrowed money that you'll be expected to repay. Election after election they voted for higher rents & house prices.
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Over the past 20 years the UK population has increased by roughy 10m - that's about the populations of Scotland & Wales combined.
Over the past 20 years we have built about 5m new homes.
Any solution that doesn't include building a hell of a lot more houses just isn't credible.
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Imagine being so out of touch you not only think this, you feel it's ok to write it in a newspaper? (£)
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Dear Jeremy Hunt,
Either announce that you 𝐚𝐫𝐞 changing Stamp Duty or announce that you 𝐚𝐫𝐞 𝐧𝐨𝐭 but please don’t announce that you're 𝐭𝐡𝐢𝐧𝐤𝐢𝐧𝐠 about it for the Autumn Statement or the market freezes while buyers & sellers wait to see.
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Barbara and John put their home on the market last month, and have already had to reduce the price. “We are so angry and upset with the government that we have ended up here.”.
Once again, its’s somebody else’s fault.
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There are housing ministers who have lasted longer than this..
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"The only function of economic forecasting is to make astrology look respectable."
[John Kenneth Galbraith] (£)
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Kids, if you want to know why your rent is so high, why you will have to wait until your late 30’s to buy your first house & why when you do it will cost so much it’s because of this guy, his colleagues & the NIMBYs who hold their noses & vote for them.
We’ve reached an understanding with Gov’t re.
#planning
& we’re discussing with colleagues.
We need a community-led,
#green
& regenerative system.
🏡🏡
#housing
@luhc
@michaelgove
@lucyfrazermp
#iwnews
@10DowningStreet
@Telegraph
@thetimes
@PA
1/17
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When you factor in inflation the average price of a house in the UK in Jan 2007 is almost exactly the same as the average price of a house today at £286,489.
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'Accidental' landlords - people who apparently woke up one morning owning more than one home. They claim they can't sell but most just can't sell for what they might have got last year. That's how markets work & why we think prices will slip this year.
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Freeholders have only themselves to blame. They turn up when the sun shines but are nowhere to be seen when their buildings need to be made safe.
@MichaelGove
is at last going to act & freeholders are going to pay the price for their inaction.
@michaelgove
in 2nd Reading of Leasehold and Freehold Reform Bill on the lack of accountability of some freeholders
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I respectfully disagree. A rent cap would not provide more stock, it may in fact force some landlords to sell up thereby reducing stock even further. I don't know of anywhere where a rent cap has worked. The Edinburgh Experiment currently in place doesn't seem to be delivering.
The combination of skyrocketing rental prices and having to compete with up to TWENTY others to rent a home is absolutely shocking. Renters in London need a rent freeze—the Government must give me powers to introduce one urgently.
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Just an idea but if you drop your prices you'll find there are millions who will buy your product! 👷🏻♂️ This puff about there being no demand is nonsense. (£)
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Prices ⬆️ 20% since start of the Pandemic.
Rents ⬆️ 20% in some places over the past year.
New home starts ↘️, new rental listings ⬇️ by a third.
1.2m on social housing waiting lists & average age of a 1st time buyer now ↗️ 34.
Broken Michael? It's fucked!
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In my view “We should chisel out a headstone for it and make sure the policy is buried.”
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Game Theory Approach to House Hunting - cracking advice for estate agents from 'Mr Marketing'
@rorysutherland
to
@ChrisWillx
as part of his terrific 'Modern Wisdom' Podcast.
🔗
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It's amazing how many people mistake an asking price for value. It's just part of the marketing yet so many judge the success of a sale or purchase by reference to the ticket price.
It is a combination of the greed of the owner & the 'enthusiasm' of the agent to get the business.
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Imagine if your party could have been in a position to do something about this - for the past 14 years?
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June 2023
🏚 £0-£500k Sticky
🏘 £500-£1.2m Struggling
🏠 £1.2m-£2m Still busy
🏡 £2m-£5m Confused
🏛 £5m+ Business as usual
No science, just a view
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It’s hard to find much sympathy for Gareth, to be honest..
Who the hell hasn’t been repaying the capital on their mortgage for 20 years?
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Take care in 2023 if you want to get on the property ladder.
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Off up to London to collect
@LizPryor3
's richly deserved MBE from Buckingham Palace. Awarded in recognition of her work setting up
@AnneRobsonTrust
.
Expect tears & much laughter from friends & family.
How very proud her mum Anne will be looking down on her daughter today.
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Either
@trussliz
mis-spoke or she doesn’t understand how mortgages work or she is attempting to throw
@bankofengland
under the bus.
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New PM
@RishiSunak
could send a very positive message by re-instating
@michaelgove
at
@luhc
where he was making significant progress on a number of issues that his precessions had got bogged down in.
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Hey
@BorisJohnson
, if you want to bribe 4m people to vote for you why stop at housing associations? Why not give ALL tenants the right to buy their rented property at a discount? If is it's fair to leg the tax payer over why not private landlords?
Stop blustering & build some 🏘
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I’m not sure buyers are thinking positively about flats with little/no outside space, often clad in combustable materials & have onerous lease terms & high service charges it’s just that with available stock still 25% below normal they have little choice.
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Unbelievable! If I was Harry this attitude would ensure I remained chuffing furious! 😡
“[Prince Harry is] angry with the world”
Sun editor Victoria Newton says she doesn’t think the Duke of Sussex should still be frustrated with the press and “it’s a shame that he still bears so much anger despite all that therapy”
#BBCLauraK
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Don't fall for it kids! It's a stunt to keep the recorded sale price up which you will pay for on your mortgage. Just demand £20k off the price.
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“The problem with the housing market at the moment is that buyers think it is 2008 and sellers think it is 2020. Both are wrong”
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There’s a landlord and a letting agent who need to have an urgent word with themselves.
My constituent's son, a university student, tragically died by suicide in May
His parents were the rent guarantor for next year's tenancy
Shamefully the letting agent is still pursuing them for the rent
Today I called on the government to end this vile, cruel practice
#PMQs
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Much of what
@afneil
says here so eloquently equally applies to housing. There are bits that only Government can do. The rest? Please, stay the hell out!
'Stay the hell out of it.' Andrew Neil's advice on what the government should do with the media
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Maybe it’s time to set a date when anyone failing to disclose the ultimate owner of a property loses title? As of mid-April, 15% of the 32,440 overseas companies that own properties in Britain had failed to register their beneficial owner. (£)
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If you've never been can I heartily recommend Le Relais de Venise in Marylebone Lane.
No reservations so we had to queue for an hour before it opened but steak & chips worthy of a Last Supper.
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How long before politicians of all colours want a piece of this largely untaxed pie?
Over-65s have a record £2.2 trillion in mortgage-free housing wealth, double the total of a decade ago, underscoring the generational divide in the housing market.
In total, the over-50s own 78% of Britain's housing wealth. The under-35s have just 5%.
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If true
@ConnellsEA
have some serious explaining to do. 🤬
I'm sure the other buyers & sellers as well as
@TPOmb
&
@NTSELAT
will be keen to find out if an offer really could be favoured because a buyer was using the in-house mortgage broker. It stinks of a conflict of interest.
Terrible behaviour from
@ConnellsEA
Are you proud of this behaviour?
#mortgages
#estateagency
#estateagent
#Media_Coverage
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“We want to introduce legislation in the final parliamentary session — later this calendar year — in order to change the leasehold system.”
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It's only anecdotal but speaking to 8 different agents this morning all said that new buyer enquires have dried up & most who are still looking are taking a lot longer to commit.
They anticipate a very bleak 12 months ahead.
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Kasun Kalirai feels "stuck", struggling to sell the flat he loves, that he would never have put on the market had it not been for the service charge of £4,300 per year - up more than four times since he moved in in 2016.
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Whine, whine, whine! Another morning, another "poor us" story from buy-to-let landlords - this time the AirBnB brigade. Why are they in a business they so clearly don't enjoy? For the 'public service' they would have us believe. 🙄
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#Help2Buy
is officially dead.
@redditchrachel
told a fringe meeting “If we incentivise through Help to Buy, First Homes, or any of these schemes, that’s great for those people, but it inflates the prices. Demand has to be balanced with the supply side.”
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Turns out that investing in property is harder than some had thought. Banking on captial appreciation rather than yield is called 'speculating'. It's like going to the races thinking you know more than the bookmakers. 'Investing' is about yield based on predictable costs & income
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We don’t just need more homes we need homes that people want to live in and to live alongside.
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Useful advice from
@rickygervais
if, like me, you have a tendency to assume people on Twitter are talking directly to you.
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If you missed this the first time take a moment to hear
@MerrynSW
offer a solution to the junior doctor pay problem. Warning - it does require some common sense and an open mind.
“A junior doctor now has very significantly less disposable income, in real terms, than they might have had 10 or 15 years ago”
Finance journalist Merryn Somerset Webb analyses the economic landscape and possible solutions to the pay dispute
#bbcqt
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“Excuse me, have we already asked you to have a go at housing minister?”
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@D_Blanchflower
@dsquareddigest
@iealondon
@dartmouth
Their leaders had a pop at me a couple of years back D before crawling back into their hole.
A shady bunch operating under the fig leaf of Charitable status.
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It’s still galling to find that so many people bought leasehold properties and weren’t aware of the repair obligations that came with it. Where were their conveyancers?
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Hmm, I’m not sure I’d rush. There’s a reason that flats are out of favour.
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Lots of huffing & puffing from selling agents to my
@HomesProperty
piece last night wailing about how misunderstood they are. Sure, there are some great agents out there but as a buyer you'd be foolish to expect that you're only going to deal with the nice guys.
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Could the UK follow suit?
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What could possibly go wrong.. 🤔 (£)
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Are they all fucking drunk????
EXCLUSIVE
Top Truss ally becomes second Cabinet minister to back Boris Johnson
Simon Clarke, the Levelling Up secretary, urged MPs to back Mr Johnson in a joint statement with Tees Valley Mayor Ben Houchen to The
@Telegraph
.
Full story:
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Things that 𝑑𝑜𝑛'𝑡 count when working out what your home is worth;
🔺 What you paid for it
🔺What you need
🔺What your neighbour's asking for his
🔺What your friends say
🔺 What estate agents says
🔺 The cost to rebuild
🔺What you’ve spent on it
#ItDoesntWorkLikeThat
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A reminder of how we might have built half a million council houses back when interest rates were unusually low & how we could still even now - if only we had had the political will to solve the problem & not to maintain the status quo.
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What makes new homes so expensive, is it the land, the build cost or is it something else?
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I get that landlords have had a hard time but they really aren't an endangered species. If they don't want to be in the business they can sell up. The houses will still be homes bought by other landlords or by homeowners. That's the Govt.s plan, anyway.
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"There are only two types of ‘expert’ when it comes to predicting house prices – those who don’t know & those who don’t know they don’t know."
Stolen without apology from the great
@iancowie
.
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In awe of
@HertsFRSControl
who turned out in significant force this evening to tackle our neighbours house fire. Thank you 🙏🏻
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Seems to me that raising base rates & therefore mortgage rates is how
@bankofengland
dampens consumer spending to tame inflation. It's a deliberate policy & therefore unlikely Govt. will offer support for mortgage holders who suffer as a result.
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I've been doing radio & telly for 15 years, getting up in the night to do
@BBCBreakfast
, waiting for hours just for 3 minutes on local radio & along comes some YouTuber with a smile & a shiny website & suddenly people start telling me what HE thinks will happen to house prices!😡
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Man who was Housing Minister for a whole six months fails to mention/understand/admit that these plans for 97 flats were turned DOWN by local
@LibDems
council and APPROVED on appeal by national Govt. inspector. For detail see
@monicabeharding
The reckless incompetence of Lib Dem run Elmbridge council, in failing to put a Local Plan in place, has allowed the development on the historic site at Hampton Court - which our local community in Molesey has so bitterly opposed. Unforgivable.
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Home buyers - NEVER use an estate agents in-house mortgage or conveyancing services. NEVER let them argue this is "just to check your funding" or that it helps make the process smoother.
Some agents earn as much from referral fees as they do from selling houses.
#WhosTheClient
Speaking to a few FTBs this morning who are out viewing. The stories I’m hearing from them all amount to one thing.
Those corporates are desperate to get buyers sat in front of their in-house brokers & are throwing everything inc the kitchen sink at it.
And it’s not working.
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"Hey Siri, show me a complete corporate shit-show happening in real time.."
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“I don’t think any lawyer today will be happy to act for any overseas buyer in the UK without scrutinising every penny arriving in this country. I think those days are finished.” (£) Good stuff from
@GeorgeNHammond
in
@FT
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“I’ve been committing mortgage fraud for the past 15years. Do you think I’ll go to jail?” 😳
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Buyers often decide not to bother viewing a property because the asking price looks too high. My advice is always to ignore the guide - it's frequently just a combination of the greed of the owner & the enthusiasm of the agent to get the job. It is never a statement of value.
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A rare example of a policy actually working as intended? Businesses renting homes out for holidays suffer in drive to increase owner occupation.
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🔮 Lloyds predicted a fall of 20% in 2020 & in January they said they expected house price growth of 1% this year. So I bet you can't wait to hear what their crystal ball shows for 2023..
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Things that 𝑑𝑜𝑛'𝑡 count when working out what your home is worth;
🔺 What you paid for it
🔺What you need
🔺What your neighbour's asking for his
🔺What your friends say
🔺 What estate agents say
🔺 The cost to rebuild
🔺What you’ve spent on it
#ItDoesntWorkLikeThat
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“It’s presented as a cheap way into home ownership, but you will absolutely pay through the nose afterwards.” The perils of Shared Ownership presented by
@George_Nixon97
(£)
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A bad morning for the likes of
@RFAssociation
&
@Pensioners4GR
as
@melyork
shines a bright light on to their murky morals. (£)
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Nope. I'm calling 'rollocks" on this claim that "Foreign property buyers have pushed up house prices in Britain by 17% over the last two decades". They have certainly had an impact in places like Kensington & Chelsea but surely none in Luton or Doncaster.
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Dear media folk, most people really aren’t interested in this.
Please can we move on?
Phillip Schofield says he has "lost everything" and does not see a future for his career, in an interview with BBC News
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The best friends.
The kindest words.
The bravest family.
I can’t remember the last time I wept like I did this afternoon.
Sleep well Bill.
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Here’s how house prices have moved relative to the rest of the UK economy. Factor in inflation & the real value of UK housing fell by 11.5% reports
@willydunn
in
@NewStatesman
.
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