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HouseSharingIsMyLifeNow

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  1. I generally agree, and find the being walked into without an apology incredibly annoying, and I know London is not the friendliest place by any means, but I also think this is a conditioning thing. If you smile at random people walking down the street, and they don't smile back, then it makes you not want to try with other people out of fear of the feeling of rejection and frustration you get were someone not to reciprocate. I think this is the same wherever you go, but London just has more people and more people who have been conditioned not to try and engage with strangers as it is not worth the effort to get rejected and ruminate on why other people aren't smiling back at you or even acknowledging you. I think this is the case for some people at least. It's just a learned behaviour that makes it slightly less draining to go about life in a big city I think. I think people in London can be quite friendly, but a lot of people are just doing what they need to to not get too worn out by it all. That said, London does have more than its fair share of arrogant idiots, who then in turn feed into the behaviour of everyone else. Overall, I think coping behaviours in big cities can be complicated.
  2. They have a pretty arbitrary comparison year of 2015 when analysing the increase in income vs house prices etc. If a country had a massive boom in house prices before 2015, which then slowed down from 2015 onwards, then according to this they would be at less of a risk of a house price bubble, which doesn't make much sense. For some reason, they don't include the income to house price ratio overall, just the relative increases since 2015, which is fair enough if everywhere started from the same point prior to this date, but as that is not the case, they leave out a heck of a lot of context. The graphics are quite cool though.
  3. Ha, indeed. Got to maintain that all important status! From the article: Only 55 in six years! FFS
  4. Yes. I just hope other speculators don't pile in afterwards. Property shouldn't be an international asset class. The cost of where people live shouldn't be so affected by the whims of international investors. It's one of the most infuriating things about it all. You're not just competing with other people, and landlords based in the UK for property, you're also affected by currency markets and how cheap the pound is overseas. The government should work to try and shelter us from such things.
  5. Good question. In the rest of England, there's perhaps less of a clear trend, although boroughs with higher average prices do also seem to be showing lower year on year increases in general. I divided into one fewer price range grouping as there are generally fewer boroughs by region outside of the South East. Once again, this is averaged across boroughs per region and doesn't weight by volume sold in each borough. London and the South East are leading the way with the year on year decreases at moment, with bits of the North East also down.
  6. Also if you look at figure 1.9 in the 2017-18 report and compare it to figure 1.9 in the 2016-17 report, the number of those moving from the private rented to become owner occupiers has increased, and the number of those going the other way has substantially decreased, so I reckon this shows signs of Section 24 starting to bite.
  7. Fun fun. Love a good statistical report. Thought this was quite an interesting bit too And this one It seems that perhaps as Section 24 starts to bite, the percentage of those buying a home with a mortgage is starting to go up again, as the percentage of those in the private rented sector decreases, as seen in the attached chart.
  8. I had a look at the prices by borough for boroughs in the South East (calculated from a csv downloaded from here: https://www.gov.uk/government/publications/uk-house-price-index-england-may-2019/uk-house-price-index-england-may-2019) and calculated the average price change in each region when grouping the boroughs by price range for May 2018. This is averaged across boroughs in each region, so doesn't weight the average by volume in each borough. I took out instances where there was only one borough in a price range grouping. It seems that in the South East, the more expensive boroughs are showing year on year declines in price, whereas the less expensive ones are still showing some increases, I'm guessing as perhaps there's more competition for houses in such places as they're more affordable in comparison to the rest of the South East at least. This also shows signs of it all rippling out from London. I thought it was interesting, that even lower priced boroughs in London are now showing substantial declines year on year. There were 7 such boroughs priced between £350,000 and £400,000 in May 2018.
  9. This is linked in the Guardian live feed. A heatmap of UK house price change broken down by region. Definitely shows a clear trend of the rest of the South following London's decline with a bit of a lag.
  10. I also agree. Not to make light of knife crime, but overall, the number of homicides in London per year has shown a long term downward trend since around 2002/3. Knife crime seemed pretty prevalent when I was a teenager in London in the early noughties as well. Myself and most of my friends growing up were mugged at knife point at least once. It's great it's getting reported on more now, and maybe the increased scrutiny is a factor in the fear of it, but I don't imagine it's a big factor in influencing 30 something's to get out of dodge. The increase in internal migration out of London seems to have happened in line with when house prices started going bananas, and probably an increasing realisation amongst younger people already in London that staying in London is increasingly not worth it in financial terms, alongside with 20-somethings realising that moving to London in the first place may be a losing game: London has always lost older age groups in terms of net internal migration, so some of the increase may be explained by younger people just not moving to London in the first place. There's a map in this article that gives a bit of an idea of where people in London are moving to, at least for 2016/17 (https://www.citymetric.com/politics/five-maps-showing-london-s-population-changing-demographics-languages-immigration-4154).
  11. Just to clarify, I should add, that prices in Inner London were up slightly month on month (around 0.4%), but in Outer London were down slightly month on month (-0.1%). The price change in either was nowhere near the 2.4% change the overall figure for London shows, which suggests a relative increase in Inner London properties sold in relation to Outer London ones. So overall, for those interested in London, the month on month increase doesn't seem as bad in actuality as the numbers would suggest, as they are quite skewed by low sales volume.
  12. I had a look at the prices for Inner and Outer London using the UK House Price Index tool on the Land Registry (http://landregistry.data.gov.uk/app/ukhpi), and for April 2019, when looking at them separately, the prices are still on their way down slightly. It seems that the bump in average price in London may be due to more properties in Inner London being sold in relation to those in Outer London compared to March (as Inner London has more expensive property in general). Sales volume is really low in London as well. In 2018 an average of around 7,400 properties were sold in London per month, and this has shown on a downward trend since 2014, with 2019 appearing to continue that trend. From 1997-2007 the average monthly number of properties sold in London was over 13,000.
  13. Down by about 27% from November 2016 to November 2017 in London
  14. Also, if they had any savings, they would have grown at a rapid rate, and like you and others have said, wage inflation would largely have inflated the relative cost of their house when they bought it away after a while. Nowadays, we don't have either of these things. We have wages increases under inflation on average and pretty much no interest on savings. It all seems like common sense that this would make things harder given runaway house prices. It's not complicated stuff. I think you would almost have to try harder to not understand this, hence the level of cognitive dissonance in that mumsnet thread.
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