Work starts on the eagerly awaited new Foxtons office on Brixton Road

[leanderman]

The Economist nails it: low rates of building, easy money and spectacular population growth ... http://www.economist.com/blogs/econ...?fsrc=scn/tw/te/bl/ee/londonhousepricesoaring

 

[SpamMisery]

Right, so a one child policy, a ban on immigration and shifting the poor north should fix that. I would make a fine UKIP MP.

 

[SarfLondoner]

The Economist nails it: low rates of building, easy money and spectacular population growth ... http://www.economist.com/blogs/economist-explains/2014/05/economist-explains-4?fsrc=scn/tw/te/bl/ee/londonhousepricesoaring

Do the policy makers/government have any interest in bringing the boom to an end?

 

[Winot]

Do the policy makers/government have any interest in bringing the boom to an end?

Not while young people don't vote.

 

[ViolentPanda]

The Economist nails it: low rates of building, easy money and spectacular population growth ... http://www.economist.com/blogs/economist-explains/2014/05/economist-explains-4?fsrc=scn/tw/te/bl/ee/londonhousepricesoaring

The Economist has "nailed" what most of us on here have been saying for at least the last 12 months.
Aren't they the sharp ones!

 

[ViolentPanda]

Right, so a one child policy, a ban on immigration and shifting the poor north should fix that. I would make a fine UKIP MP.

You have to be some sort of a cunt to be an MP, so...

 

[ViolentPanda]

Do the policy makers/government have any interest in bringing the boom to an end?

Of course they don't.
Deflate the house price bubble and you undermine the economy, due to the economy's dependence on personal debt rather than production of goods or services.

 

[SarfLondoner]

Of course they don't.
Deflate the house price bubble and you undermine the economy, due to the economy's dependence on personal debt rather than production of goods or services.

I should have added due to personal gain to my sentence.

 

[ViolentPanda]

I should have added due to personal gain to my sentence.

Personal gain and political gain, unfortunately - a powerful combination for a lot of those greedheads.

 

[Dexter Deadwood]

Wasn't sure which thread to put this in - apologies if someone has already posted this link, but excellent article in yesterday's Guardian about the redevelopment of the Woodberry Down estate in Hackney.

http://www.theguardian.com/society/...tion-how-woodberry-down-became-woodberry-park

The truth about gentrification: regeneration or con trick?
http://www.theguardian.com/society/...tion-how-woodberry-down-became-woodberry-park
It's a very good article, ought to be on this thread as well.

 

[technical]

Wonder which estate in Brixton it is that's mentioned at the end of that article - Myatt's Fields/Cressingham Gardens?

 

[trabuquera]

My apologies if this has already been posted in other thread(s) - some inside dirt on the Brixton gated development, including horrific prices and painfully small sq footage... http://www.theguardian.com/money/20...-streets-carney-yorkshire-london-bank-england

(The Brixton stuff is the latter half. Takeaway: half a mill for a shonky cramped newbuild one bedroomer. argh.)

 

[ddraig]

from that link

Adrian Burch, manager of the local branch of agents Haart has just sold another flat in Carney Place. He won't say what it went for, only that it was significantly higher than the £400,000 asking price. "The client [seller] had bought it off-plan and it suited them to sell now," he says, adding that when the development was first marketed 18 months ago, one-bedroom flats were sold for as little as £220,000.

Burch says the scale of the Carney Place gains is not unusual. "That kind of increase isn't isolated to there at all. I was at a valuation yesterday for an ex-council flat which two years ago I'd put at £180,000 to £190,000. Yesterday I valued it at £290,000."

I realise some people have more money than sense and some of this is down to far away investment but how can anyone think they will make money on something that has already increased in price that much?

 

[leanderman]

from that link

I realise some people have more money than sense and some of this is down to far away investment but how can anyone think they will make money on something that has already increased in price that much?

but, somehow, inexplicably, it always does increase in price again and again.

 

[ViolentPanda]

but, somehow, inexplicably, it always does increase in price again and again.

With several instances of price plateaus and even falls along the way, in amongst the rises.

 

[ViolentPanda]

from that link

I realise some people have more money than sense and some of this is down to far away investment but how can anyone think they will make money on something that has already increased in price that much?

Because we're currently in a property price bubble across 50-60% of the UK, and until the bubble either bursts or is deflated through policy, speculators will continue to benefit from that bubble.

 

[leanderman]

With several instances of price plateaus and even falls along the way, in amongst the rises.

Would be interesting to see historical house prices plotted against a measure of inflation.

Beer was cheap once

 

[Strangerdanger]

My apologies if this has already been posted in other thread(s) - some inside dirt on the Brixton gated development, including horrific prices and painfully small sq footage... http://www.theguardian.com/money/20...-streets-carney-yorkshire-london-bank-england

(The Brixton stuff is the latter half. Takeaway: half a mill for a shonky cramped newbuild one bedroomer. argh.)

My new build is neither shonky nor cramped.

 

[trabuquera]

My new build is neither shonky nor cramped.

I'm not saying yours is either (my my, touchy touchy.) the one described in the link above is both.

 

[Strangerdanger]

I'm not saying yours is either (my my, touchy touchy.) the one described in the link above is both.

lol, point taken.

But seriously, it is quite scary. I mean, judging by recent sales the value of our flat has increased quite a bit and we've only been here 7 months. It means nothing unless we want to sell up and move out of London, and we don't. We probably can't afford anything bigger or more central as all the values of those flats have gone up as well, and meanwhile those not on the property ladder will find it harder and harder to get on. What's the point? It's not really good news for anyone....except landlords I guess.

 

[leanderman]

We're so clearly in a bubble, funny thing

lol, point taken.

But seriously, it is quite scary. I mean, judging by recent sales the value of our flat has increased quite a bit and we've only been here 7 months. It means nothing unless we want to sell up and move out of London, and we don't. We probably can't afford anything bigger or more central as all the values of those flats have gone up as well, and meanwhile those not on the property ladder will find it harder and harder to get on. What's the point? It's not really good news for anyone....except landlords I guess.

So true. This is good only for owners of multiple properties, or properties at the top of the ladder.

 

[teuchter]

Or people who want to move out of London.

 

[leanderman]

Or people who want to move out of London.

never!

 

[CH1]

One bedroom flat Connaught Mansions: £390,000 anyone?
Does have a roof terrace, but if this is a realistic price things are motoring there. Not long ago Connaught Mansions flats fetched under £200,000.
http://www.rightmove.co.uk/property-for-sale/property-46393808.html

 

[colacubes]

One bedroom flat Connaught Mansions: £390,000 anyone?
Does have a roof terrace, but if this is a realistic price things are motoring there. Not long ago Connaught Mansions flats fetched under £200,000.
http://www.rightmove.co.uk/property-for-sale/property-46393808.html

Tbf, Connaught Mansions properties were well above my budget at nearly £200,000 when I bought my flat 10 years ago. £390,000 is a lot, but not that extreme a rise in the greater scheme of things round here.

 

[Belushi]

39 sq metres! I'd want a lot more space for 390K

 

[CH1]

39 sq metres! I'd want a lot more space for 390K

I live in a similar sized flat in Effra Court for over 6 years - but I used to go out a lot in those days!

 

[teuchter]

39 sq metres! I'd want a lot more space for 390K

Want doesn't get.

 

[leanderman]

One bedroom flat Connaught Mansions: £390,000 anyone?
Does have a roof terrace, but if this is a realistic price things are motoring there. Not long ago Connaught Mansions flats fetched under £200,000.
http://www.rightmove.co.uk/property-for-sale/property-46393808.html

And the 'open house' scam to whip up a frenzy among would-be buyers

 

[equationgirl]

And the 'open house' scam to whip up a frenzy among would-be buyers

Which is strictly by appointment, so hardly an open house at all.