May Day on May 1st is an ancient northern hemisphere spring festival and usually a public holiday; it is also a traditional spring holiday in many cultures.
It is related to the Celtic festival of Beltane and the Germanic festival of Walpurgis Night and has traditionally been an occasion for popular and often raucous celebrations. As Europe became Christianised the pagan holidays lost their religious character and often changed into popular secular celebrations, as with May Day
Traditional British May Day rites and celebrations include Morris dancing, crowning a May Queen and celebrations involving a Maypole. Much of this tradition derives from the pagan Anglo-Saxon and customs held during the month of May (meaning the Month of Three Milkings) along with other Celtic traditions.
May Day has been a traditional day of festivities throughout the centuries. May Day is most associated with towns and villages celebrating springtime fertility and revelry with village fetes and community gatherings.
Since the reform of the General Roman Catholic Calendar, May 1st is the Feast of St Philip & St James and they became the patron saints of workers. Seeding has been completed by this date and it was convenient to give farm labourers a day off. May Day has since become International Workers day and a day of celebration for the labour movement and left wing organisations. This has manifested itself into displays and marches by Trade Unions and by Communist and left wing regimes across the world.
The May Day Bank Holiday as we know it now was created as recently as 1978.
So, as with so many of our traditions, May Day appears to be based on an ancient pagan celebration of fertility. For most of us it is now simply a holiday, a day to enjoy with family and friends. It is interesting however to look at the tradition behind the day.
With the Queen’s 60th Jubilee in June and the Olympics in July, there will be much more tradition and history to investigate in the coming months.
Come on Malcolm – Walkies!

Last month I took a slightly “off the wall” look at the history of the Budget and even the chosen tipple of the Chancellors who delivered them.

Of course, we have now had the 2012 Budget and I thought I would highlight what I see as the key points that are likely to affect many of us.

Listening to George Osborne (or Boy George as my friend Alice calls him due to his youthful looks) on Budget day actually gave a slightly different impression of what was happening than it turns out was the case. If I am being generous, he told the truth, but if I wish to be Machiavellian, then I feel there were some things where the words spoken did not convey the true impact of what was being said.

Now I’m not a smoker – well not since those teenage days behind the bicycle sheds with a Woodbine or two – and therefore to see a whopping 37p go on packet of 20 cigarettes has no impact on me at all. However, I am fond of an occasional sherry (or two) and the announcement of no change to the levels of alcohol duty brought a smile to my face until I realised later that a whole series of increases had already been announced and were in train.

Needless to say I had to sit down with a schooner and take a closer look at anything else in the Budget that caught my eye.

As a property investor I was naturally interested to see the changes to stamp duty that were announced. Now none of my property portfolio are worth £2 million plus where buyers will now have to pay 7% of the purchase price in stamp duty land tax. I imagine there were some frantic renegotiations where sales were arranged at around the threshold level as another £40,000 plus in tax will be felt by almost anyone!

Mr Osborne also announced that purchases in the names of corporate bodies would be taxed at the punitive rate of 15%. This was announced to try and close a loophole that saw people avoiding tax by registering property in the name of an overseas company or trust vehicle. The Government has, unless they change their minds, actually hit people who were not looking to avoid stamp duty but simply are buying in the name of a company or other corporate body.

I have some friends who have their property portfolios registered through property businesses. I’m sure their lawyers will be looking in detail at what was outlined and, no doubt, seeing an opportunity to generate some more fees as a result!

All in all, I seem to have been left relatively unscathed by the Budget this time around. Clearly Mr Osborne had little room to manoeuvre and has rightly attempted to encourage business growth. At my age, my thoughts are becoming a little more exercised at what is happening with pensions but I do understand that everything needs to be paid for and we all have to contribute for the benefit of everyone.

At least dog biscuits remained unaffected.

Come on Malcolm – Walkies!

There are a number of interesting superstitions and traditions that revolve around Leap Day on February 29th.
Women can propose to men
According to an old Irish legend, or possibly history, St Bridget struck a deal with St Patrick to allow women to propose to men – and not just the other way around – every 4 years. This is believed to have been introduced to balance the traditional roles of men and women in a similar way to how Leap Day balances the calendar.
In some places, Leap Day has been known as “Bachelors’ Day” for the same reason. A man was expected to pay a penalty, such as a gown or money, if he refused a marriage proposal from a woman on Leap Day. During the middle ages there were laws governing this tradition.
In many European countries, especially in the upper classes of society, tradition dictates that any man who refuses a woman’s proposal on February 29 has to buy her 12 pairs of gloves. The intention is that the woman can wear the gloves to hide the embarrassment of not having an engagement ring.
Bad luck
In Scotland, it used to be considered unlucky for someone to be born on Leap Day, just like Friday 13th is considered an unlucky day by many. In Greece it’s said to be unlucky for couples to marry during a Leap Year, and especially on Leap Day.
St Oswald’s Day
Leap Day is also St Oswald’s Day, named after an archbishop of York who died on February 29, 992. The memorial is celebrated on February 29 during Leap Years and on February 28 during common years.
Leap Day birthdays
People born on February 29 are all invited to join The Honor society of Leap Year Day Babies.
According to the Guinness Book of Records, there are record holders both of a family producing three consecutive generations born on February 29 and of the number of children born on February 29 in the same family.
I’ve never been sure whether I would like to have been born on February 29th or not. On the one hand I would only be about a quarter of my age now but I would only have had a quarter of the birthday presents I have enjoyed over the years.
Looking into the history was fascinating and it seems to me that the most important aspect is to use the extra time wisely.
Come on Malcolm – Walkies!

My New Year resolution for 2012 is a simple one as usual. Look for the positive in everything and everyone and try and create as much of a “feel good” factor in those around me that I can. I therefore wish you all the very best for a happy, healthy and successful 2012.

As we enter 2012, few people expect the year to be anything other than a challenging one for everyone within the UK and indeed, across the globe.

Financial issues seem to dominate the headlines and there is no doubt that the road to a strong economic recovery will be long and bumpy. I am not sure that anyone has a definitive and workable plan to resolve the Euro issue and so expect it to form part of our headlines for some time to come.

Unemployment levels are likely to increase and reductions in public spending will bite deeper. Banks, particularly due to their exposure to debt, will continue to restrict lending and be cautious in exposing themselves further.

The residential property market is changing with owner occupation falling and those renting in the private sector increasing, often through a lack of an alternative.

New homes building and sales, despite Government incentives, will still run at relatively low levels and yet demand for housing is set to continue to rise as the population grows. This is due, in part, to increasing life expectancy which, in turn, creates the issue of their being enough people working to fund those that have retired.

Against this uncertain and difficult backdrop we look certain to continue to benefit from low interest rates and the basic need for housing and the need for greater mobility in finding employment will become increasing drivers of activity in the housing market.

2011 saw the volume of sale transactions run at the lowest level for years. Figures, when published, are likely to show around 550,000 UK wide transactions.
Interestingly the RICS (Royal Institution of Chartered Surveyors) recently issued a report saying they expected transaction volumes to increase in 2012. I hope they are right but I saw little evidence in their report for such a claim.

The private rental sector grew however and now stands at around 16% of all households in the UK.

With all the doom and gloom that is around us you would think that the property market was going to be dead on its feet and that 2012 would look set to be a terrible year.

Whilst I don’t underestimate the challenges that we all face and the impact of the financial issues around the world, I am positive that there will be a decent market in 2012 and that there will also be many who take advantage of the low cost of borrowing to make a move or add to their property portfolios.

My personal view is that property market will actually remain fairly stable with the volume of supply balancing demand and keeping values steady. Indeed I am expecting a similar market to 2011 overall with perhaps a small increase in the size of the private rental sector.

More than ever, I believe that sellers and landlords will look for agents that “add value” to the process and get results. In that regard I know my small portfolio is in safe hands with the team at Lenwell.
Now, after a little too much food and drink this Christmas and New Year, I like many others, will be looking to shed a few pounds in the weeks ahead. This may be a challenge for me  but I know “someone” who’ll be pleased at getting out and about more!

Come on Malcolm – Walkies!

So the Christmas carol goes and, for most people, Christmas is a time of great joy with family gatherings, the sharing of presents and eating and drinking to levels that we all regret come January.

As a property owner and landlord, I do however find myself sparing a thought for those less well off than myself at this time and particularly for those who suffer being homeless.

Whilst there are many charities that help the homeless, the problems of homelessness never seem to go away and they all need more support in order to help with their sterling efforts.

Nationally, Shelter, Crisis and the salvation Army are perhaps the best known and can be contacted online at www.shelter.org.uk , www.crisis.org.uk and www.salvationarmyappeals.org.uk

The estate agency and lettings agency industry has formed a charity called the Estate Agency Foundation who provide help, support and funding to help tackle homelessness issues. They can be found at www.eafcharity.org
Locally there are a number of excellent organisations. In Luton there is the Noah Enterprise atwww.noahenterprise.org.  In Bedford there is the Prebend Day Centre at www.prebendcentre.org.uk and in Northampton there is the Hope Centre at www.northamptonhopecentre.org.uk

It is easy to become overwhelmed with the calls on all of us to support our communities and charities and none of us can help everybody. I do however know that the smallest donation or offer of time and help can make a big difference to the lives of someone for whom a roof over their head, a hot meal and a clean bath could be the best Christmas present they ever get.

I’m going to cut back a little on my gifts and self-indulgence this year and take the opportunity to try and help the homeless. I hope you may consider doing likewise.

Come on Malcolm, Walkies!

So the Christmas carol goes and, for most people, Christmas is a time of great joy with family gatherings, the sharing of presents and eating and drinking to levels that we all regret come January.

As a property owner and landlord, I do however find myself sparing a thought for those less well off than myself at this time and particularly for those who suffer being homeless.

Whilst there are many charities that help the homeless, the problems of homelessness never seem to go away and they all need more support in order to help with their sterling efforts.

Nationally, Shelter, Crisis and the salvation Army are perhaps the best known and can be contacted online at www.shelter.org.uk , www.crisis.org.uk and www.salvationarmyappeals.org.uk

The estate agency and lettings agency industry has formed a charity called the Estate Agency Foundation who provide help, support and funding to help tackle homelessness issues. They can be found at www.eafcharity.org
Locally there are a number of excellent organisations. In Luton there is the Noah Enterprise at www.noahenterprise.org.  In Bedford there is the Prebend Day Centre at www.prebendcentre.org.uk  and in Northampton there is the Hope Centre at www.northamptonhopecentre.org.uk

It is easy to become overwhelmed with the calls on all of us to support our communities and charities and none of us can help everybody. I do however know that the smallest donation or offer of time and help can make a big difference to the lives of someone for whom a roof over their head, a hot meal and a clean bath could be the best Christmas present they ever get.

I’m going to cut back a little on my gifts and self-indulgence this year and take the opportunity to try and help the homeless. I hope you may consider doing likewise.

Come on Malcolm, Walkies!

We are all familiar with the famous phrase that there is nothing more certain in life than death or taxes. A phrase originally attributed to either Daniel Defoe or Benjamin Franklin and as seemingly relevant today as it was back in the early 1700’s.

Certainly we all pay a lot of money every year in tax either directly by way of income tax or indirectly via VAT, fuel duty, insurance premium tax etc.

Yet, as I fill in my annual tax return for Her Majesty’s Revenue and Customs (HMRC), I never cease to be amazed at the complexity of identifying the amounts due and the subsequent difficulties of collection that the authorities must face.

It came as little surprise then to read recently that the HMRC have said that about six million people are set to receive tax rebates averaging £400, while another million will learn they have underpaid their tax by about £600.
Her Majesty’s Revenue and Customs (HMRC) said letters would begin going out in the next few months, with those owing money able to pay in stages. I, like everyone else, will now be waiting by my letterbox in anticipation and hoping that I am one of the six million and not the one million!
It is the second year tax and National Insurance discrepancies have been identified by a new computer system although HMRC have said that the number of cases would reduce “as the new system beds in”.
Last year, HMRC apparently identified 4.3 million people due refunds for overpayments and some 1.4 million who owed the taxman after paying too little.
The amounts owed averaged just over £1400, while a further 900,000 underpayments of up to £300 were written off.

As I sit here pondering over the enormous sums of money at stake and numbers of people affected, I do wonder how the majority of people, without seeking independent tax and accountancy advice, would really know if the tax they are paying is correct?

As I complete a tax return every year, HMRC do the sums and give me breakdown of monies owed or otherwise. This at least gives me an opportunity to look for any anomalies. If however I was just receiving a tax code and my employer was making all the adjustments and returns, I’m not sure it would be so easy to calculate.

With HMRC confirming the significant number of cases of both over and under payment, perhaps we should all take a closer interest in the future.

Come on Malcolm, Walkies!

The Autumn Equinox is behind us and we now officially will have more hours of darkness and daylight every day until Spring.

As I write, the stock market has fallen to below the psychologically important 5000 point mark and the world is bracing itself for more difficult economic times ahead as countries look to grapple the issue of huge debt with a need to try and generate growth and keep citizens gainfully employed and rewarded.

You could also be forgiven for feeling that as the nights draw in and get darker that the world is doing likewise, although perhaps not just for Winter but for a generation or so ahead.

Home ownership as a percentage of occupancy in the UK has fallen back to 1991 levels and is continuing to fall as a tough lending environment and reduced optimism sees less people willing or able to commit to a home purchase.

Sales volumes in 2011 are also likely to reach no more than 50% of the peak in 2006.

Now if you haven’t headed for the sherry, then let’s look to find some positives amongst the undoubted issues and “doom and gloom” being reported by the media.

Of course, it is undoubtedly more difficult for first time buyers to get on the property ladder and a recent report stated that the overall average deposit for house purchase is now ten times greater than it was twenty years ago. This of course doesn’t allow for the fact that prices and incomes have also moved significantly in that time. It is difficult for a first time buyer but not impossible.

Now, it has always been difficult and the supposedly halcyon property years saw young people believe they could have their cake and eat it by borrowing and spending now and borrowing more in the future to pay back even later! Those of us from a different generation always felt this was a recipe for trouble but Mr Brown’s comments about having ended boom and bust seemed to sway opinion. In hindsight he was possibly right, now we just appear to be bust!

A recent report from the Building Societies Association shows that the desire amongst young people to own their own home has however not diminished with over 75% wishing to do so before they reach thirty. Undoubtedly these young people will have to make “sacrifices” in order to achieve their goals. These “sacrifices” are those that those of us from earlier generations took as normal and acted accordingly.

I genuinely believe that we have already seen the nadir in terms of the influx of first time buyers into the market and that this will improve as many will have built their savings to levels that will enable them to buy for the first time. Larger deposits will also mean that hey will also be doing so with far less risk of negative equity arising from the slightest downward fluctuation in house prices. This can only be a good thing.

Prices are actually fairly stable. House building also looks set to slowly increase from its record lows.

Interest rates have been at record lows for over two years and look set to continue as the country battles with the need for economic growth. This is enabling many to reduce their indebtedness significantly and use the money saved to plan for the future.

There are also many parents with decent levels of equity in their properties and, without a good return on savings investments, they are choosing to help their offspring with funds for house purchase.

So, my view is that the mid to long term position for home ownership and house prices remains positive.

As a landlord, what does this mean for the rental sector?

Well, as we know, the rental market is booming with demand outstripping supply. Whilst much of this is due to an inability for people to make the sales and purchases they would prefer and I see this situation continuing for some time, I am convinced it will ease and a growing number of “reluctant” tenants and indeed landlords will go back to being owner occupiers.

Having said that, the private rental sector currently accounts for around 17% of housing occupation across the UK and with our population growing as a result of immigration and increasing longevity, it is predicted to reach 20% over the next few years.

Younger people are having to save larger deposits in order to purchase and are therefore often renting for longer periods before taking the home ownership “plunge”.

More families are renting and at the more mature end of the market I can see renting becoming a tenure of choice for older people who may need to remove equity from an owned property in order to fund and increasingly long period of retirement.

All in all, the world may be a difficult place economically at the moment and for a few years ahead, the prognosis for the UK’s private rental sector does however look strong.

Come on Malcolm, Walkies!

A few years ago a nephew of mine kept playing a song by a group called the Kaiser Chiefs. Whilst the music was not particularly to my taste, the chorus and title of the song, I predict a riot, became lodged firmly in my head.

The terrible events of early August brought the song right back to me. The pictures on our TVs of groups of thugs rioting, setting fire to buildings and looting caused me many hours of heartache wondering what was becoming of the country and communities in which we live.

Fortunately the authorities only took a couple of days to get on top of the situation and, whilst of no consolation to those who lost possessions, their businesses, their homes or, in some truly tragic circumstances, their lives, life fairly rapidly began to return to normal. Or has it?

I, like many, was impressed with the way in which local people in the communities affected, organised themselves into groups and set about clearing up the debris strewn streets. Subsequently, I have also been heartened by the swift and ruthless drive to arrest and punish those involved and to ensure that a strong message that right minded people will not tolerate such action, is heard.

Of course, there will be much debate as to the underlying causes of such a situation but I detect a new feeling developing, a feeling that is being led by ordinary people who are not prepared to see a moral decline in our communities, a feeling that good will triumph over evil and that the riots may end up acting as a catalyst for a new sense of community and cohesion.

The riots of a few weeks ago had little or nothing to do with race, religion, family break down or poverty although some may feel that each of these factors was in some way responsible. The new riot that I predict will have nothing to do with violence or disorder but will start to permeate through the British people’s overriding sense of community and neighborliness. The overriding desire will be to enjoy the places where we live and work, to raise our children safely and with a strong sense of moral and civic pride, and to look forward to a fair and free society.

The recent revolutions within the Arab world clearly point to a more positive and democratic future although at great human cost. In Britain, the riots have shown that we could no longer take for granted that which we hold dear but I am positive that they will kick start a new and improved society.

David Cameron has talked about the “Big Society” and I am yet to be convinced that politicians can bring about real change through policy. The concept however is laudable and I believe, in the future, we might look back on the events of early August and see them as the time when things changed for good.

I hope so.

Come on Malcolm, Walkies!