Location, location, location

I always think the property market is built on hype and unrealistic expectations, but now there is some good news for the global property market.

I refer of course to the news from America:

Our Solar System's Milky Way neighborhood just went upscale. We reside between two major spiral arms of our home galaxy, in a structure called the Local Arm. New research using the ultra-sharp radio vision of the National Science Foundation's Very Long Baseline Array (VLBA) indicates that the Local Arm, previously thought to be only a small spur, instead is much more like the adjacent major arms, and is likely a significant branch of one of them.

"Our new evidence suggests that the Local Arm should appear as a prominent feature of the Milky Way," said Alberto Sanna, of the Max-Planck Institute for Radio Astronomy. Sanna and his colleagues presented their findings to the American Astronomical Society's meeting in Indianapolis, Indiana.

If Mr Sanna is correct then every estate agent can update their material to begin "Conveniently located on a prominent feature of the Milky Way", which probably adds 5p to the value of your house.