World News
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ASEAN and UK collaborate on £25 million Economic Integration ProgrammeIn a joint effort to bolster economic growth in the ASEAN region, the UK Mission to ASEAN and the ASEAN Secretariat unveiled the ASEAN-UK Economic Integration Programme (EIP) in Jakarta.Read More...
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Foreign Office issues fresh warning for Brits traveling to popular destinationAs British tourists gear up for trips to Indonesia, the Foreign Office has issued a timely update to its travel advice, emphasizing the importance of passport validity. With over 335,209 UKRead More...
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High global food prices expected to stabilize in 2024, predicts Oxford EconomicsOxford Economics forecasts a decline in global food prices this year, signaling potential relief for consumers worldwide who have been grappling with rising food costs.Read More...
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Brits maintain interest in luxury property in PortugalThe United Kingdom continues to lead the pack in searches for luxury homes in Portugal, comprising 11.9% of total international demand at the start of 2024. Following closely behind are theRead More...
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PM Sunak reaffirms UK support for regional stability in call with King Abdullah II of JordanPrime Minister Rishi Sunak engaged in a conversation with King Abdullah II of Jordan earlier today, emphasizing the United Kingdom's unwavering commitment to bolstering Jordanian andRead More...
Culture
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Gustav Klimt portrait sells for £25.7 million at Vienna auctionA long-lost portrait by Gustav Klimt, depicting a young woman, fetched a staggering 30 million euros (£25.7 million) at an auction held in Vienna on Wednesday.Read More...
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Rishi Sunak: remembering those lost in terror attackIn his Passover message to the Jewish community, Prime Minister Rishi Sunak acknowledges the somber reality that "for too many families, there will be empty seats" at the Seder table thisRead More...
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Co-op Live: Manchester's new arena opens with high capacity and ambitionsA monumental addition to Manchester's entertainment landscape, the new £365m Co-op Live arena is poised to claim the title of the largest indoor arena in the UK. Nestled beside ManchesterRead More...
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Brontë birthplace unveils open day prior to renovationThe birthplace of the renowned Brontë sisters is set to welcome visitors for a special glimpse inside before embarking on a significant refurbishment.Read More...
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Taylor Swift's 'The Tortured Poets Department' smashes Spotify recordTaylor Swift's latest album, "The Tortured Poets Department," has shattered Spotify's record for the most-streamed album in a single day, the platform has announced. Not only did Swift'sRead More...
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Historic London pub, linked to Royalty, ravaged by fire: a heartbreaking lossA renowned London pub, steeped in history dating back possibly to the 16th century, has suffered extensive damage in a devastating fire. The Burn Bullock, a grade II-listed establishmentRead More...
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Salvator Rosa painting stolen from Oxford, recovered in Romania, and returned to UKA painting valued at EUR 2 million, stolen from an art gallery at Oxford University approximately four years ago, has been recovered in Romania and returned to UK judicial authorities,Read More...
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Plans to demolish former Museum of London site put on pauseA last-minute intervention from Levelling Up Secretary Michael Gove has halted plans to demolish the former Museum of London site.Read More...
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June’s London Fashion Week returns with fresh conceptThe British Fashion Council has unveiled an innovative approach for the upcoming London Fashion Week in June, aiming to spark a cultural phenomenon. Set to take place fromRead More...
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London's inaugural Taiwanese culture festival explores island's identity and historyLondon's vibrant Notting Hill district is about to experience a taste of Taiwanese culture with the launch of the 16-day Taiwan Festival on Friday, April 12.Read More...
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Soho showcase: The Art of Banksy unveils London's largest collectionThe largest collection of original Banksy artworks is set to make its debut in London's Soho, featuring over 150 pieces from the enigmatic Bristol-based artist. Opening at 100 CharingRead More...
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Taylor Swift joins billionaire elite: a look at the wealthiest of 2024Taylor Swift has ascended to the ranks of the world's wealthiest individuals, marking her debut on the billionaire list alongside luminaries such as Elon Musk. This revelation comes courtesy of aRead More...
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JK Rowling challenges police to "arrest her" amid Twitter controversy surrounding Scotland's Hate Crime ActThe Hate Crime and Public Order Act has officially taken effect in Scotland, sparking a fiery debate over free speech and expression. At the center of this controversy is renowned authorRead More...
British Queen celebrates
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Comment
I recently did an article on the phenomenal rate at which the London property market is growing. It seems this latest trend of growth just continues to gain more and more momentum as the months pass by and London properties for sale are now on average more expensive than properties in Monte Carlo, making prime property the most expensive of its kind in the world!
The study carried out by a London estate agent has revealed that a London property that costs around the £5 million mark is currently being sold at a rate of about £4000 per square foot of property. This is significantly more than Monaco which is second on the list and selling property at an average of £2190 per square foot of property. To give you an idea of how expensive this is, picture a normal sized walk-in closet in central London. At a price tag of £4000 per square foot of property, you could by a 3 bedroom house in the North of England for the same price as a walk in closet in central London.
A house in Belgravia was recently sold for a phenomenal London property sale of £30 million. If that sounds like a lot, it's still nothing in comparison to a London property which is owned by steel tycoon, Lakshmi Mittal. The 12 bedroom property situated in Kensington Palace Gardens is rumoured to be worth more than £100 million.
The current rate at which the property market is growing is the fastest in 30 years. Estate Agent Clapham North has been part of the research which has revealed that people who live in prime areas such as Chelsea, Kensington, Knightsbridge and Hampstead are currently earning more than £4000 per day on their London properties.
The current growth in the London property market is expected to stabilize in the middle parts of the year and then regaining pace again towards the end of the year. This is all good and well for the London market, however there are still serious concerns about the rest of the country's property as there is not much growth showing in other parts of England. The average price for a property for sale in London is about £350,000 whereas the average price of property in the North East is less than half of that at £129,000. Let's hope the London property industry is able to carry the weight of the entire country!
I heard a rumour that the global recession is slowly becoming less of an issue as the world economic climate seems to be recovering ever so slightly form a terrible year in 2009. The London property market was one of the worst hit areas in the UK and now I'm wondering whether or not the property market will be recovering with the rest of the world's financial situation. I did some research and found that the influencing factors sway from negative to positive in a seesaw kind of pattern, each positive balanced out by a negative. Take a look:
The UK as a whole is definitely recovering from a tough 2009. Most businesses around the country are starting to recover and their employees are starting to have a little bit more money to spend each month due to a general drop in retail prices. However the unemployment rate in the UK is still continuing to rise which means just because companies and their employees have a little more money, jobs are still scarce as companies are hesitant to start hiring too soon. Unemployment rate is one of the major factors that affect London property prices will have a slight negative effect on London property prices.
The guttering on a property is actually an integral part of a building and should be well looked after. Of all of the elements, water is the most detrimental to any building, whether it be a home or business and guttering helps keep the property protected. Investing in a proper set of guttering will stand you and your building in good stead. It is not always easy to know what is available and which types of gutters commonly found in the UK are the best choice for you or your property.
Manufacturing output in the UK declined for the 11th straight month in January, official figures have shown.