It was the most expensive house in Britain when it went on the market, but six years on Updown Court is still empty. Who would live in a £70 million house like this? Well, David, let’s go through the CCTV-monitored keyhole and marvel at 50,000 sq ft of Surrey real estate: 250 tons of Italian marble, 27 bathrooms, a quarter of a mile of under-driveway heating, 58 acres of landscaped gardens, an underground squash court, a bowling alley, a panic room with its own ancillary air conditioning and two indoor swimming pools – both filled with green stagnant water and beginning to smell.

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Over the next four years there is only a 12 per cent chance that real house prices will have risen back above their 2007 peak, according to PwC's analysis. Over the next four years there is only a 12 per cent chance that real house prices will have risen back above their 2007 peak, according to PwC's analysis. In fact the median projection over the period until 2015 is for a 12 per cent real decline.

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Britain's housing market saw subdued activity in June as fewer vendors put properties on to the market while buyers again sat on their hands, according to new research. "London, however, remains a market apart, with both sales and prices showing a greater degree of resilience."

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The Association of Residential Lettings Agents (Arla) found 56% of its members reported that rents have risen over the past six months, compared to 53% three months ago. Some 42% reported that tenants are struggling to pay rents, in line with the previous quarter, with about the same proportion haggling with landlords.

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The Eurozone crisis appears to have pushed more European tenants into the central London rental market since the beginning of the year, with European tenants taking 30.4% of all new lets between January to May 2011 compared to 25% during the same period in 2010

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Knight Frank today launches to market the St John’s Wood Barracks site, in North London, which represents one of the last remaining prime central London residential development opportunities of any scale. Offers in excess of £225 million will be considered.

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