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  • The Week Evening Review
    London property slump, Jenrick fallout, and the Are You Dead? app

     
    today’s Big Question

    Why is the London property market slumping?

    More homes were sold at a loss in London last year than in any other region in England and Wales, as the capital’s property market continues to slump – especially for flats.

    Owners of flats have reported losses of up to 34%, with hundreds of thousands of pounds “wiped from the value” of their property, said This Is Money.

    What did the commentators say?
    It all came down to “affordability pressures from higher house prices, greater supply, higher stamp duty costs” and weeks of “speculation” before the autumn Budget, said The Standard.

    The capital has become a two-speed market, said City A.M., with very strong demand still holding in “more affordable areas”. In Havering, Waltham Forest and Lewisham, the average house price reached an all-time high last autumn. But many of the capital’s most expensive boroughs “registered a contraction”.

    New-build properties are “increasingly unloved by buyers”, said The Telegraph. The building of new homes in London “ground to a halt” last year because of “everything from onerous red tape” to Sadiq Khan’s “mandate that over a third of new housing be sold at a discount”.
    It is “no secret” new-builds are “often sold at a premium to similar homes on the second-hand market”, said This Is Money. So it takes longer for them to increase in value. “Anyone selling a new build in the first few years can typically expect a loss.”

    This is “going to become a serious political issue”, said Will Dunn in The New Statesman. The crash in prices “brings together two groups of people”. On one side are those renting, furious at being “excluded from the market”; on the other are owners, “furious that the market has failed to reward them as they were led to believe it would”.

    What next?
    London house prices will rise by just over 1% this year, compared with a 2% to 3% increase in the rest of the UK, according to a study by Rightmove. 

    But, since the beginning of 2026, there have been fewer price reductions, London estate agents Benham and Reeves told The Standard. Maybe the “tide is beginning to turn”, said director Marc von Grundherr.

     
     
    tHE eXPLAINER

    Three key consequences of the Jenrick defection

    Robert Jenrick’s switch from the Conservatives to Reform UK is “by far the most significant in a string of recent defections”, said The Economist. The former Tory leadership hopeful told the BBC that his move would help “unite the right”, and denied that he was motivated by ambition.

    What it means for the Tories
    Conservative leader Kemi Badenoch said her party is “stronger” since Jenrick left. But it is “inarguable” that the Tories are still in a “massive mess”, said Henry Zeffman on the BBC. They have a genuine fear of being “usurped by Reform UK”.

    Badenoch’s “swift manoeuvre” to oust Jenrick showed strength, said The Economist. “If you squint”, you can see her emerging well from this: “unencumbered by a troublesome rival”. 

    What it means for Reform
    Jenrick’s political credibility brings a “different dynamic” to the “one-man band” currently dominated by Nigel Farage, said Stephen Pollard in The Spectator. His move could also lead to more Tory defections.

    But not all Reform members will be “offering a welcome mat” to their newest colleague. To say “there is no love lost” between Jenrick and Zia Yusuf, Sarah Pochin and others in “the upper echelons of Reform” does a disservice to “the levels of pure hate displayed” towards the former shadow justice secretary.

    Farage was quick to thank the Tories for handing their “most popular figure” to him “on a plate”, but the jury is out on whether Jenrick will be a “help or a hindrance”, said the Financial Times. Reform risks becoming a repository for “relics of failed Conservative governments”, while Farage faces the prospect of working with someone who has “made no secret of his desire to one day run the country”.

    What it means for the next election
    Jenrick’s defection also “all but ended the chances of any deal to unite the British right”, said Bloomberg. A Tory-Reform pact is increasingly unlikely, opening the door to the “most widely contested” general election in years.

     
     

    Poll watch

    Nearly half (47%) of employees aged 18 to 24 say they’re regularly working unpaid overtime, according to a YouGov poll of 4,500 adults for Mental Health UK. Gen Z workers are the most likely age group to take time off for stress, with 43% saying they are worried about redundancy.

     
     

    Statistic of the day

    192 grams: The weight of the gold-plated medal given to every Nobel Peace Prize winner. Venezuelan opposition leader María Corina Machado presented hers to Donald Trump last night to curry support after the US president had repeatedly expressed his desire for the award. It was “a wonderful gesture of mutual respect”, Trump said.

     
     
    In the Spotlight

    The app that checks if you are dead

    A Chinese app that requires you to check in to prove you’re alive and well has soared in popularity, thanks to people living on their own.

    Are You Dead? (Sileme in Mandarin) this week became the most downloaded paid app in the country’s history, and put the spotlight on the increasing number of single-person households.

    Droves of downloads
    The concept of the app “is simple”: you must check in every two days by “clicking a large button to confirm that you are alive”, said the BBC. If you don’t, “it will get in touch with your appointed emergency contact”. The app was launched last year to “not much fanfare” but has has since “exploded” as young people who live alone have begun “downloading it in droves”.

    One of the app’s developers, Guo Mengchu, told South China Morning Post he planned to sell a tenth of his shares for one million yuan (£106,000). Based on this, the app’s value has been estimated at more than 10 million yuan (£1 million).

    Its popularity rests largely on the increase in lone living. In 2024, those who lived on their own accounted for about 20% of all Chinese households, compared with 15% a decade earlier. It’s forecast that, by 2030, there may be up to 200 million one-person households in China.

    What’s in a name?
    Sileme is a pun on the name of the popular food delivery app Ele.me (“Are you hungry?” in English). But some people were “quick to bash” it for being “less than cheery”, said the BBC, suggesting the name should be changed to “Are you OK?” or something else “with a more positive spin”.

    Two days ago, it was announced that, “after extensive consideration”, the app will adopt its current overseas name, Demumu, in its next Chinese iteration.

    Guo explained that “de” was an abbreviation for death, while “mumu” was a cute-sounding, nonsense word. But some users think the change is a mistake, arguing that its current name is part of its viral appeal.

     
     

    Good day🚰

    … for hygiene, after taps started working again in most Kent and Sussex homes. About 30,000 households have gone almost a week without water after Storm Goretti caused burst pipes, amid furious criticism of South East Water.

     
     

    Bad day ✈️

    ... for profligacy, after Surrey police claimed £16,000 expenses for extraditing a TikTok influencer. Chartering a private jet to fly Harrison Sullivan, known as HSTikkyTokky, from Spain to face dangerous driving charges was “not necessary or proportionate”, a judge at Staines magistrates court said.

     
     
    picture of the day

    Money shot

    Coco Gauff practises her serve in Melbourne, ahead of the start of the Australian Open on Sunday. The US tennis star is leading a prize money dispute between players and the Grand Slam tournaments – despite the Australian Open announcing a record 16% prize-pot hike this year.

    William West / AFP / Getty Images

     
     
    PUZZLES AND QUIZZES

    Quiz of The Week

    Have you been paying attention to The Week’s news? Try our weekly quiz, part of our puzzles section, which also includes sudoku and crosswords 

    Play here

     
     
    THE WEEK RECOMMENDS

    Properties of the week: impressive ski chalets

    France: Manigod, Haute-Savoie
    Tranquil chalet in a breathtaking setting close to Annecy, Geneva and year-round ski resorts. 4 beds, 3 baths, large terrace, garden with forest, stream and river access. €942,000; Leggett Immobilier

    France: Morzine, Haute-Savoie
    A luxurious lodge with a pool and a small apartment to renovate. 5 beds, 6 baths, kitchen, open-plan recep, relaxation suite with pool, steam room and treatment rooms, outside hot tub and sauna. €950,000; Leggett Immobilier

    Austria: The View Chalet, Zell am See
    A terraced chalet with mountain and lake views. 2 beds, family bath, 2 large terraces, garden, private ski locker, fully furnished. €699,990; Alpine Property

    Austria: Ache Chalet, Fieberbrunn
    Detached chalet beside a stream and a short stroll from the village. 4 beds, 3 baths, open-plan recep, terrace, garden, sauna, party room with bar, garage and covered storage for skis and sports equipment. €1.25m; Alpine Property

    See more

     
     
    QUOTE OF THE DAY

    “History is a rollercoaster. Now you’ve passed your peak, enjoy going down. In 200 years, you will go up again.”

    Dissident Chinese artist Ai Weiwei comments on the West's relative decline in the face of his native country’s global economic ascent. “Their level is getting high,” he told The Times, “and the West is only realising it too late.”

     
     
    instant opinion

    Today’s best commentary

    Fear the Sphere
    Christopher David LaRoche on Foreign Policy
    After “decades condemning spheres of influence”, the US is now “claiming one”, writes Carnegie Endowment for International Peace fellow Christopher David LaRoche. By announcing that “it will ‘run’ Venezuela”, the Trump administration is asserting “exclusivity in its own neighbourhood”. But a system of spheres “requires mutual recognition”, and neither Russia nor China recognises America’s or each other’s. “Today’s spheres claims look more like a collision than a concert”, and “among nuclear-armed powers”, such a “collision could be catastrophic”.

    The moral rot at Elon Musk’s X is criminal
    James Baxter-Derrington in The Telegraph
    Despite announcing restrictions, X is still allowing Grok to “produce sexualised images of children and unconsenting adults”, writes James Baxter-Derrington. It’s “disgraceful” to “entertain any other stance on this morally reprehensible act” than sheer “disgust”. It’s a “criminal” and “non-partisan issue” that has nothing to do with “bugs” in AI technology. “Grok is created and maintained by real human beings, each of whom is committing a crime” and “should be punished to the full extent of the law”.

    Hot cross buns are for Easter, not for life
    Melanie McDonagh in The Spectator
    The evolution of hot cross buns “into a year-round staple” is proof that “we’ve completely lost it”, writes Melanie McDonagh. They “are cross because they’re for Good Friday” and, “eaten on the day of the Lord’s Passion”, were once thought to bring luck. “We’re playing fast and loose with symbolism when we use the cross out of context.” Keep it for “the one day” when it has “meaning”. And “if you want a toasted fruit bun at other times, go for a tea-cake.”

     
     
    word of the day

    Arirang

    The name of a beloved Korean folk song, which became a symbol of resistance to Japan’s colonial rule in the early 20th century and is now an unofficial national anthem across North and South Korea. K-Pop band BTS today revealed it as the title of their hotly anticipated comeback album.

     
     

     Evening Review was written and edited by Harriet Marsden, Chas Newkey-Burden, Will Barker, Jamie Timson, Rebecca Messina, Irenie Forshaw, David Edwards, Adrienne Wyper, Helen Brown, and Kari Wilkin.

    Image credits, from top: Simon Dawson / Bloomberg / Getty Images; Henry Nicholls / AFP / Getty Images; Illustration by Stephen Kelly / Shutterstock; William West / AFP / Getty Images; Leggett Immobilier; Alpine Property; Leggett Immobilier; Leggett Immobilier

    Morning Report and Evening Review were named Newsletter of the Year at the Publisher Newsletter Awards 2025
     

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