BearlyBegun

You’d be earning £60,779 more a year, on average, if wages had risen by as much as house prices in your local area. Joy...

DailyMash once again reports hot on heels.... http://www.thedailymash.co.uk/news/society/mail-demands-foreign-aid-to-be-spent-on-replacing-british-carpets-2014021183451

ONS analysis also reporting that there is "no connection between weather and high street sales...apparently. Not that anyone here would ever have accepted such feeble excuses for poor trading... http://www.thisismoney.co.uk/money/news/article-2540499/ONS-There-no-correlation-weather-high-street-sales.html

Surely London is getting ready to pop! "A one bedroom flat in a desirable area of London now costs over £500,000 - a £60,000 rise in just one year, according to a leading estate agent. Improved mortgage availability, low interest rates and the Government's Help to Buy scheme are behind the increase with first-time buyers flooding the market undeterred by stratospheric prices, the report from Marsh & Parsons added. " http://www.thisismoney.co.uk/money/mortgageshome/article-2488443/One-bed-flats-prime-London-worth-500k.html

Last 5 years I've lived in 3 places in west/south west london and have never paid the asking rent - secured at 9-10% off each time. I tell all my friends to bargain hard, but it depends if you have the balls.

As Rex says its my understanding that there is no appeals for TDS but you can proceed to small claims to recover if you think judement unfair. My own deposit has just been returned after following the alternative dispute services as part of the TDS (Tenancy Deposit Scheme) for which I'm going to post a full anecdotal in the next day or two. Generally I was very satisfied with the handling and outcome, but its worth saying that I had ensured that all details (email and contact details) were correct in their system - once we had agreed to enter the ADR they emailed as well as posted statements and their online guide documents described to me the process that would follow. So I was aware that the landlord would have 14 days to compile and supply evidence, followed by a confirmation summary to me and 14 days to provide response, then landlord had another 7 days to refute anything in my evidence. Then a month or so waiting for judgment. I'm not criticising you or suggesting that its your fault or anything, just that it does seem your problem was because you had a misunderstanding as to the process and timelines and therefore they made final judgement without input. From what you've put about the actual claim, if you can be bothered then I'd look at small claims to recover although I couldnt suggest anything about the possible outcome. Will post my anecdotal of TDS in the next day or two.

Yes, that's pretty much how I read it. Lost decade (or two) looming for UK?

Bringing this thread back up to the main board - at the time aswell as posting to the website on the comments section announcing the launch of Schapps website, as others here also did, I additionally copied my comment and sent it directly (via a contact Schapps link on the website). Cant remember exactly what I said but the direct response today from his general department: This is still towing the general line that has been used before, for "prolonged price stability", but considering the economic realities arent we more likely to be facing an extended period of stagflation? Improvement in lending conditions will be a slow process so demand will be low, alongside a backdrop of economic stagnation (increased taxation, inflation, job losses, high personal debt). Can they really achieve stability in the housing market at current levels in the face of all these issues? Will it be a 10 year stagnation as wages creep up and housing costs remain static?

Love it - Nathan Barley

Sent you a mail. Honestly though, although I have noticed an increase in rents these last 3-4 years its only seem to me to be tracking inflation plus a % or two. Demand is always high in London but now more than ever people are bargaining harder, simply because their own disposable is being squeezed. I certainly dont buy the statement that rents are soaring by double digits, total bull IMHO

I moved to west kensington in the end - and it definately was cheaper... Not that its really kensington of course

I was looking for a 1-2 bed in Hampstead Sep 2010 - huge competition against wealthy foreign students, especially Chinese and Japanese, whose parents were happy to pay 6months or a year rent in one go. The property there was turning over faster than I've seen in London before, although it was a poor time to be looking in an area so popular with the students (Aug into Sep when they are starting their course). Nice 2 beds were being snapped up at £425p/w (1840pcm), a couple of the 2 beds we viewed were taken or being vacated by 1 rich student. Hampstead certainly seemed to be booming, but generally I cant see how LL can squeeze much more from people as their rent is already often pushing up to 50% of income.

Thanks - interesting, and rather annoying. Excluding someone who wants to buy and live there & instead only allowing someone to buy-to-let it? Oh well. Example: http://auctions.savills.co.uk/lond_Current_auction_lot.asp?pos=33

Browsing the Savills london auction I keep coming across the below line at the bottom of the listings "Note The seller cannot sell the property to a purchaser who intends to occupy the property as his/her or their principal home." Can anyone elighten me as to why this would be? Apologies if its already in one of the topics here but I never have much luck with the HPC search function.

I agree, although all I have is anecdotal. Almost all the people I work with who rent in london were already paying a high percentage of their wages on rent. Those that keep their jobs will have to downgrade again if rents climb, and for some they cant really downgrade much more! With more people becoming unemployed, with more potential FTB who keep their jobs moving back home to cope & with everyone's disposable income being squeezed I just cant see rents in my area of west london going any higher.

£334,950 in London W12 overlooking Wormwood London W12 The next one up from that is £450,000 in Ravenscourt Park but it looks like a repo/complete gut job Chiswick area

About 5 years ago I bought 2 simple "Malibu" bedside table from Argos and pretty sure they were £8.99. When selling them on gumtree recently I took a look at their catalogue to see how much they were, so I could sell them on at a suitable price - they are now £25. That's ~160% increase in 5 years isnt it??

Indeed - which is what Sentence has been arguing for these last 6months, suggesting that a slow stable approach to the inevitable increases would be more sensible than a sharp shock

There's many a way to impress the ladies

Neuromancer seems to be a world close to present day - people are practically jacked in to this degree with some of the gaming about. Remember the korean guy who died at his PC? Think he starved to death after non-stop gaming. Try SnowCrash, where they live in stacked up shipping containers, bare of anything other than a solid lock and a power supply - they jack into VR all day long, a world away from reality. I can see people being satisfied with this level of reality if their VR is good enough...

I agree that birds like to show off, but this doesnt need to be via a big house (owned). If you can afford to rent a nice place, and use excess cash to drive a nice car or dress in designer gear then this satisfies the need to show off to friends as you're obviously doing well. Even better if you're also walking around with a fat wedge of cash in the bank. Of my friends there isnt a perception that those that bought are doing any better, quite the opposite at the moment as mostly they bought on IO within the last 5 years. Its those who didnt buy that are percieved as doing better as we have considerably more spare cash...

I'm not disagreeing with you generally for london, but I've been renting in west london for 10years and each of the last 3 places I've had its been a game of poker with the LA and landlord - if you target things close to void and have the balls to hold out then you always get a deal. I often think if more people in london were able to play this game then rents in london would drop or at least not climb so quick - most people I know leap straight in at asking price for fear of losing out. These days with so many agreements falling through due to failed credit checks etc makes for more properties still on market close to the start of a void period.

I suppose it only takes once being chucked out of a rental at the whim of a landlord to annoy, but still... I do sometimes get the impression people use this reason not because they've suffered it themselves, but just to add another percieved negative on renting to help justify their unfaltering desire to buy (borrow) themselves a "home". I'd much rather run the risk of "landlords whim" than strap an 400tonne anchor of debt round my neck!

I've been renting in west london for more than 10 years and I've only ever moved at my own whim...never the landlords. Does this really happen alot and I've just been lucky?

Thanks for this FreeTrader - love your work