Rogue landlord billed £10,000

A London landlord who let a shed for £750 a month, has been ordered to pay £10,000 to Hillingdon Council, which was forced to demolish it after the landlord refused to evict its tenants and destroy it himself in the three month period he had been given. "This enforcement work is part of an ongoing project to clamp down on beds in sheds. The council has a special taskforce of officers dedicated to investigating and taking action against rogue landlords,” said a council spokesperson.

£3.4m for first home

A child born today will pay £3.4m for their first home, according to research by eMoov.co.uk. The online estate agent studied historic house price data since 1954 and found an average annual increase of 8.6%. At the current rate of growth, the house price in 2048 - when a child born now will reach the typical age for a first-time buyer - could hit £3.4m. Even children now aged ten face paying more than £1.6m for a property, requiring a deposit topping £320,000. A youngster now four will most likely need £2.65m for a home. By 2032 the average 20% deposit needed will top £200,000. Of those polled, 67% said they expect to financially help their children get on the property ladder. Russell Quirk, founder of eMoov, said: “Our research shows the staggering truth about prices. If the trend continues, the Bank of Mum and Dad will be even more important."

MPC split on interest rates

Two members of the Bank of England’s MPC voted to raise interest rates in August, the first time in three years that policymakers have done so. The minutes of the most recent meeting show that Ian McCafferty and Martin Weale voted for a 0.25% rise to 0.75%. On the back of the news the pound jumped in expectation that rates may rise sooner than expected. Sterling rose by 0.2% against the US dollar to $1.66. The minutes showed that despite low wage growth both Mr Weale and Mr McCafferty felt that rapidly falling unemployment made it more likely that salaries would pick up in the coming months. The prospect of a rate rise prompted Persimmon and Barratt Developments to lose some of the ground they gained earlier this week, as they fell 27p to 1323p and 9p to 359.6p respectively. The Daily Mail carries a guide explaining the possible effects of a rate rise on readers’ mortgages.

Solar farms could open backdoor to greenbelt

The Campaign to Protect Rural England has expressed concerns that plans for almost 200 solar farms are under consideration for greenbelt land, and that their acceptance could open the protected areas to housing developers. The group has said that current agricultural land that hosts solar farms could be declared brown field when agreements come to an end. “Planning conditions should require that solar sites continue to be classified as agricultural land throughout their life,” the campaign stated. The Times, Page: 13

Walkie Talkie not so Scorchie

The 500ft tower at 20 Fenchurch Street, London – nicknamed the Walkie Talkie – has had its entire south side draped with black netting, in order to reduce the glare created by its unique glass architecture. Last summer, it produced temperatures of up to 110 degrees Celsius, enough to blister paintwork and melt the bodywork of vehicles parked below.