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U.k. House Prices Rise To Record On London Surge

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http://www.bloomberg.com/news/2013-09-12/u-k-house-prices-rise-to-record-on-london-surge.html

U.K. house prices rose to a record last month as government measures boosted demand and London’s property market continued to surge, Acadametrics said.

Values increased 0.4 percent from July to an average 233,776 pounds ($370,000), the London-based real-estate researcher and LSL Property Services Plc said in a report today. In London, prices have risen 40 percent from their peak in April 2009, compared with 16 percent nationally.

The Bank of England-run Funding for Lending Scheme has helped to cut mortgage costs, while Chancellor of the Exchequer George Osborne’s Help to Buy program allows people to purchase a home with a deposit of as little as 5 percent of the value of the property. The BOE has downplayed speculation that a bubble may be brewing, saying activity is still at a low level relative to its pre-crisis peak.

“The property market has turned over a new leaf after years of restrained activity,” said Richard Sexton, director LSL unit e.surv. “The government has been pivotal in providing the aid that the market has been craving for many years.”

I'm sure there's no bubble in London.

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The media rampage continues.

They are really going for it.

they had a chance of briging the housing market down over 20 years now im more convinced we will get all out collapse.

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A lot of London employees are going to go from wage growth to no wage.

Never been busier, I've ditched any intent on producing stuff in this country and time nearly all taken up on working on systems that will replace staff entirely.

As far as I can see it the general population want this renewed bubble, let them have it with all the consequences.

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Never been busier, I've ditched any intent on producing stuff in this country and time nearly all taken up on working on systems that will replace staff entirely.

Given this, the income gaps widening to all-time highs, and the stats showing waiters increasing etc. I do wonder if we're not starting to see a return to domestic staff becoming a norm for the top % - more cooks, drivers, gardeners etc.

I can't see where else all that labour can go longterm and only a small % really want to do nothing.

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Given this, the income gaps widening to all-time highs, and the stats showing waiters increasing etc. I do wonder if we're not starting to see a return to domestic staff becoming a norm for the top % - more cooks, drivers, gardeners etc.

I can't see where else all that labour can go longterm and only a small % really want to do nothing.

Maybe, but the whole economic model of mass consumption, geared up spending on debt, and all the taxes reliant on the mass consumption model will be fubar.

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Maybe, but the whole economic model of mass consumption, geared up spending on debt, and all the taxes reliant on the mass consumption model will be fubar.

I'm not sure that follows. It's possible the only thing stopping it is social unacceptability of working for someone domestically / employing domestic staff.

There are plenty of 1%ers around with funds to do it. The rest of the chain doesn't need to change much (paying tax, shopping etc.).

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Given this, the income gaps widening to all-time highs, and the stats showing waiters increasing etc. I do wonder if we're not starting to see a return to domestic staff becoming a norm for the top % - more cooks, drivers, gardeners etc.

I can't see where else all that labour can go longterm and only a small % really want to do nothing.

No wonder Downton Abbey is so popular! :lol:

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Given this, the income gaps widening to all-time highs, and the stats showing waiters increasing etc. I do wonder if we're not starting to see a return to domestic staff becoming a norm for the top % - more cooks, drivers, gardeners etc.

I can't see where else all that labour can go longterm and only a small % really want to do nothing.

....yes, I can see more domestic style work, can't offshore that but you can import it........many jobs that people are doing at the moment are surplus to requirement, fillers and stuffing that with better efficiency could be lost without any real detriment ..... still plenty of work out there to be done, but work not that necessary or important enough that it is worth paying a living wage for. ;)

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It all smells bad to me. Wonder how much of this surge is just because foreigners think we're in a better position than other economies and are moving money in, not quite understanding that said as a financial centre, downfall of those economies will place us in the worst position of all.

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It all smells bad to me. Wonder how much of this surge is just because foreigners think we're in a better position than other economies and are moving money in, not quite understanding that said as a financial centre, downfall of those economies will place us in the worst position of all.

...maybe they see as buying in the UK is seen to be safe, security of tenure, safe laws and governing, less bribery and corruption, low taxes and running costs....your freehold will not be stolen from you.....all this and it keeps growing. ;)

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