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As a result of deliberate government policy. The Blair have 38 BTL homes worth an estimated £33m.
Up to a third of millennials 'face renting their entire life' http://www.bbc.co.uk/news/business-43788537 The rest will be enslaved to mortgages until their 70s. |
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low interest rates, two wages, divorce, housing benefit etc many reasons
but not immigration, if it does how? |
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Because there is higher demand for housing lfc.
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lfc1971
17 Apr 18 14:37 Joined: 06 Nov 11 | Topic/replies: 21,431 | Blogger: lfc1971's blog immigration pushes down wages, how does immigration lead to higher house prices? ^ More people demanding housing. Willing to live in crowded conditions. This intern encourages greedy landlords to bid up the prices of housing and then cram people in. Supply not keeping up with demand. |
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lfc1971
17 Apr 18 14:39 Joined: 06 Nov 11 | Topic/replies: 21,432 | Blogger: lfc1971's blog low interest rates, two wages, divorce, housing benefit etc many reasons but not immigration, if it does how? ^ Over half new builds in london purchased by foreigners. |
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if someone before immigration is earning £100 a week, and after immigration people are earning £90 a week how does that increase house prices?
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you see IT, over half of people in London are foreigners, especially young people
so I am surprised that figure is not higher |
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because they get rent paid....
21 % since bliar doesnt seem much of a rise, it must be more than that |
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there are billions of pounds spent in London , by you and me, paying for people to live in houses
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^
The 21% rise is for immigraiton. The other rises are for reasons like emergency interest rates, BTL subsidies, Help to Buy schemes, lack of building, housing benefit, population growth due to old living longer, more divorce. |
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now that is the main reason house prices in London are so high, people don't have to pay
of course that is linked to immigration, but that's a different question |
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The reality is a 30 year old teacher in the 1970s and 80s before the Blair nonsense could buy a decent house and keep his wife and kids. No problem.
Now that same teacher would have to rent a room in an HMO. Only chance of having a family is if wife works all hours as well or get some serious benefits. |
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it is not immigration, it is the system which is the same for everyone
well in theory |
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when other people are paying for the house, not yourself it is surprising how expensive houses can become
That is the system, that has been going on increasingly for decades its ongoing and it takes time to see the full effects doesn't happen overnigh but it is inevitable |
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you see that fairly young teacher has to compete with some other fairly young person..
who is not working |
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maybe they should move to somewhere they can afford
kids have moved from villages to towns to find property for decades maybe the over pricing of city living will see villages allowed to develop certainly where i live, its becoming normal to see developments around the outsides of villages where its been frowned upon for years. councils waking up! |
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of course if we get too many cheap houses there will be a dash to import more immigrants to keep
the bubble inflated ! dont relax planning rules too much ! |
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Thatcher started it by selling the council stock that has ended up in BTLers hands. Blair finished it by opening the borders.
lfc1971 17 Apr 18 14:44 Joined: 06 Nov 11 | Topic/replies: 21,436 | Blogger: lfc1971's blog you see IT, over half of people in London are foreigners, especially young people so I am surprised that figure is not higher ^ There you go then. London (inner and outer that is foreign born): 1995 1.6m (25%) 2000 2.0m (28%) 2005 2.3m (32%) 2010 2.7m (35%) 2015 3.2m (38%) |
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The number of Londoners grew by 438,000 in the 1990s
and then 825,000 in the 2000s. 135,000 people were added between 2014 and 2015, taking London’s estimated population to a new record of 8.67 million. 700,000 of the 825,000 increase in population was due to the increase in foreign born people in London during the 2000s. |
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yes IT, in 2015 38% of Londoners are foreign born
that means they need a house, 100% of them those already living in London do not they have a house that is why I am not surprised that 50% of new houses in London are bought by foreigners its inevitable purely by the simple fact that they don't have a house and those already here do |
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Pre-Blair owner occupied in London was 58%. Now it is 39%.
At the same time private rented is up from 16% to 40%. You see the new owners are not living in the properties lfc1971. |
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now how do those extra millions of people increase house prices, what wages are they on that the people already living in London are on?
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Correction those figure are forecast to 2025. Currently 42% owner occupy and 36% private rent.
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lfc1971
17 Apr 18 15:13 Joined: 06 Nov 11 | Topic/replies: 21,441 | Blogger: lfc1971's blog now how do those extra millions of people increase house prices, what wages are they on that the people already living in London are on? ^ Basically the entire increase in London's population since Blair (1.6m people) is foreign born. In Jan 1995 the average flat in London was £89k. today it is £600k. |
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if they buy the spare capacity they can charge what they want
keeps the bubble inflated, until wages catch up |
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In Jan 1995 the average detached house was £257k. Today it is £1.6m.
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its true that young people may be prepared to share rental costs in London, but that means they are occupying one house, not more than one
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a flat in london in 1995 for 89k
really? |
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nonsense if anyone believes that the average detached house in London is 1.6 million
it depends how many thousand of such houses there are, and how many tens of thousands of other types of property there are |
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it is about immigration, immigrants are not moving into detached houses in London
well we know some do, but they are not paying the mortgage |
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London prices here:
https://www.home.co.uk/guides/house_prices_report.htm?location=london&all=1 People do not realise what has happened to them. Up 550% to 600%. |
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^ complete nonsense to link any of those prices to immigration
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my house is up 300% in that time, so 500-600 doesnt sound daft for london
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perhaps that's immigration also donny, I doubt it
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the reasons are elsewhere as we have said low interest rates etc
but mass immigration will lead to lower house prices imo its inevitable |
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More people (demand) will leader to lower prices of an undersupplied good?
How? |
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because just like everything else if I cant afford it I cant buy it, and neither can you or anyone else
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you see the demand is not in the number of people, it is what those people can afford
don't confuse one with the other |
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If 5 workers are willing to live in one 3 bedroom house would they be able to pay more rent than a family where just one parent works?
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A teachers salary in London has doubled since 1995 but property is 5 times the amount.
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