Househunter Chipping Campden, Gloucs

The most unlikely house in Mayfair, central London, is for sale. This Gothic-style castle - which has been rented in the past by many a showbiz star, including Cher - was built in 1930 by Frederick Etchells. It is approached down a long passage between two other buildings, also devised by Etchells, and totally hidden from view. Once inside the arched front door, you are transported back in time. The rooms are oak-panelled with intricate friezes and ceiling mouldings. There are Tudor-style fireplaces, stained-glass windows and charming carved heads on the oak banisters. The curtains and four-poster beds are also for sale. The only concession to the 20th century are the bathrooms. The four-bedroom house, which is Grade II-listed and has a terrace on its castellated roof, is being sold by Wetherell (0171 493 6935) for pounds 795,000 for a 22-year lease.

For what it's worth

The latest figures from the National House Building Council (NHBC) show that in the first quarter of 1996 housing starts are down 9 per cent from 42,277 to 38,455 and completions are down 5 per cent (40,161 down from 42,361). But the council is not despondent. "We are still cautiously optimistic that the market will improve," says a spokesman. "The figures are slightly disappointing, but the rate of decline is slowing. In the last quarter of 1995, housing starts were down 20 per cent and completions down 8 per cent." The latest reduction in mortgage interest rates and slight house price rises indicates that the market is poised to take off again, albeit in a very gentle fashion.