What's in the property news this week?

The Home Builders Federation (HBF) has waded into the argument over the Government's proposed planning reforms, supporting the need for a change to law and warning that a generation could face a 'house building ice age' if the changes don't go through.

Elsewhere, homeless charity Shelter has claimed that private rents are 'unaffordable' in more than half of local authority districts in England. Just 12 per cent of areas were considered to be affordable, with rent accounting for less than a third of take-home wages. Despite this the rental sector continues to be buoyant, possibly because the odds are stacked against first time buyers, the numbers of which have fallen to the lowest level in almost a year. This is being attributed to the lack of lenders willing to provide a mortgage to buyers with small deposits.

And finally, when you buy a second hand property most people expect the need to keep some money aside for updates, but £10m is more than just a few pennies. Well that's how much the new owner of a £75m mansion in Kensington will have to pay, as the home has laid empty for 10 years. Mind you, if you have £75m to spend on a property, what's £10m more?

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