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Our Booming Population Faces A Crippling Shortage Of Homes

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ANOTHER day, another report providing yet more evidence that Britain’s housing crisis is getting worse. Countrywide estimates that England will face a shortfall of 1m homes by 2021, half of which will be in London and the South East. The problem, of course, is that our planning rules have throttled house-building in the UK, guaranteeing very low levels of housebuilding at a time when the population is growing very quickly. In other countries, and in other industries, when there is lots of demand, and when prices are rising, supply increases – but not in the UK housing market. The result is that prices and rents have shot up, compared with average wages: despite earning £3,804 more per year than the average person nationally, the typical Londoner is actually £4,027 worse off after they’ve paid for somewhere to live, according to the PricedOut pressure group.

The shortage of property mirrors shifting population movements: as the London economy continues to outperform that of the rest of the UK, more people are moving here – both from the rest of the UK and from overseas. Of course, plenty of Londoners continue to move out, as they always have, but on balance London (defined as the 32 boroughs and the City) is growing and could soon break its historic 1939 population peak of 8.6m. The capital’s population had collapsed to around 6.8m in the 1980s, after decades of urban decay, economic decline and general malaise in the pre-Big Bang era but has since shot back up to at least 8.3m in 2012 (according to official estimates). It was still just 7.2m as recently as in 2001. Between 2004 and 2013, Countrywide calculates that the proportion of population growth in London and the South East has increased sharply from 25 per cent to 45 per cent. House builders have partly followed employment and population growth but insufficiently so: 36 per cent of all new build properties are now either located in London or the South East, up from 26 per cent in 2000. While housebuilding in the capital remains below the levels it reached prior to the recession – a situation which remains hugely problematic – at least the decline has been less bad than elsewhere. Link

Nothing new here. But nice to see it in London newspaper.

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And the Government's response so far?.....

Help To Buy.

grrr.

No Tory, Tory coalition or existing Labour party government can do anything about the planning system as it's against the interests of their donors and lots of grassroots nimbys.

Only an old Labour (which doesn't exist any more) or a new political party government acting in the interest of the country as a whole could do it, and bear in mind any old Labour government might do plenty of damage in other areas at the same time.

You're going to have to lump it, emigrate or get lucky.

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London’s housing crisis comes to a head

Latest figures on affordable housing show a tightening in London’s housing crisis: completions of new affordable homes slumped to just 300 a month during the first eight months of the current financial year. A new poll suggests that 82 per cent of Londoners believe that emergency measures are now needed. Earlier this month, figures from the Nationwide building society showed that London house prices rose 14.9 per cent in the previous year: that is exerting ever greater pressure on Londoners’ incomes, whether they are homebuyers or renters. The Mayor’s targets have slipped: he now looks unlikely to meet his goal of 100,000 new affordable homes in two terms of office, and in any case even that target does not come close to meeting demand. The situation has been aggravated by the sell-off of council homes and the inability of councils to spend the proceeds on new housing. That has led to the situation described in a report today by London Assembly Member Tom Copley. He points out that more than a third of homes sold through Right to Buy in London are now let by private landlords. Solutions such as more shared ownership will have a role. But ultimately the only answer is to build more new homes: most estimates put the total number London needs each year at around 50,000. That will require more extensive and imaginative use of brownfield land, though that will not prove enough: we will also need to consider building on the green belt. Today’s poll suggests that housing is now the most pressing issue for Londoners: at the next mayoral election, they will demand serious solutions.

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Here it is again. NOT TRUE....about c.1m Londoners net have moved out over the last 20 years. The stats are so stark I don't understand why the media keeps getting this so wrong.

""London is an interesting region within England and Wales; whilst its population continues to rise as a result of net international migration, it remains the region with the largest net outflow of internal migrants. In the year ending June 2012, the net outflow for the London region was approximately 10,000 higher than in the previous year."

From the above sentence, it seems that your graphic just refers to UK residents, ignoring international migrations. It seems a rather sneaky way of presenting it though.

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Here it is again. NOT TRUE....about c.1m Londoners net have moved out over the last 20 years. The stats are so stark I don't understand why the media keeps getting this so wrong.

source ONS Internal Migration stats:

http://www.ons.gov.u...nal-level-moves

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Well you know why the media keep getting it "wrong", it is to protect the idea that property must sell at a large premium, lets face it many influential people in the media are stocked up on London property, it is also because the banks will suffer when it all goes ti*ts up (again), and of course as many on here say, property IS the UK economy now. The media will spin the lies until the bitter end.

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......you wonder when you meet more Londerners outside London than you meet inside.......London is the working engine, a forever growing engine, that is important to fuel the wider economy, that economy stretches out in places far beyond London. ;)

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Engineers and doctors profit creating solutions.

Politicians and bankers profit creating problems.

Lawyers and the other soft sciences profit from some murky place between these.

Long term solution... engineers and doctors leave the country? Paper pushers inherit the nation?

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Home-seekers face stiff competition as TEN people compete to buy each property.

On average 9.7 buyers are chasing every new property coming on the market

Over 60% of first-time buyers are now aged between 25 and 34

England will face a shortfall of a million new homes by 2021 of which half will be in London and the South East

Nonsense, if there were ten buyers able to pay the asking prices someone would be selling to them, there are plenty of people desperate to downsize/sell BTL/sell second homes etc. etc. It is just that they want/need a certain (very high) price. It is not possible for everyone to cash out of a collapsing Ponzi at the level they would like. When rates go up there will be more supply than you can shake a stick at :lol:

Edited by dances with sheeple

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......you wonder when you meet more Londerners outside London than you meet inside.......London is the working engine, a forever growing engine, that is important to fuel the wider economy, that economy stretches out in places far beyond London. ;)

London's ever growing engine.

public-sector-debt-ons-600x485.png

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Nothing new here. But nice to see it in London newspaper.

Is the problem planning permission or is it the fact that we are about to be deluged with thousand of Bulgarians and Romanians coming here to take the jobs of hard working Poles............. where will it all end :D

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Is the problem planning permission or is it the fact that we are about to be deluged with thousand of Bulgarians and Romanians coming here to take the jobs of hard working Poles............. where will it all end :D

20131230predictions-2.jpg

I can see what you mean.

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Nothing new here. But nice to see it in London newspaper.

It is a increasing Population, there's nothing booming about it with millions of non financially contributing people,More people coming to the country which then displaces more locals out of work , what's the point of building more homes for people who will not be able to pay for them, its just a Housing benefit increase in the long term , which the tax payer is going to have to pay. :rolleyes:

Edited by awaytogo

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Britain’s most expensive block of flats is virtually empty

One Hyde Park claims to be the most exclusive address in the world, but freedom of information requests have shown that only 19 of its 86 flats are actually occupied. These flats are being used as a kind of tradeable currency for the international super-rich. On one level, it’s flattering that London is valued so highly by overseas buyers, but I fear the cost is felt by ordinary Londoners as these prices feed down the housing market. These flats will have counted towards the statistics, but are about as relevant to housing need as uneaten caviar and truffles are to the starving.

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Britain's most expensive block of flats is virtually empty

One Hyde Park claims to be the most exclusive address in the world, but freedom of information requests have shown that only 19 of its 86 flats are actually occupied. These flats are being used as a kind of tradeable currency for the international super-rich. On one level, it's flattering that London is valued so highly by overseas buyers, but I fear the cost is felt by ordinary Londoners as these prices feed down the housing market. These flats will have counted towards the statistics, but are about as relevant to housing need as uneaten caviar and truffles are to the starving.

Real life Monopoly.

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The time is well overdue.

The UK is desperate for the Osborne to make another keynote speech. This time at one of his many estate agent pals' offices - along the lines of:

http://

www.telegraph.co.uk/finance/newsbysector/banksandfinance/9847127/George-Osbornes-speech-in-full.html

Thank you for welcoming me to JP Morgan here in Bournemouth.

When you think about where to give a speech on culture and ethics and the future of British banking, the offices of one of the world’s largest American investment banks may seem like an odd choice of venue.

But it’s a deliberate one.

http://

blogs.spectator.co.uk/coffeehouse/2013/09/george-osbornes-speech-on-the-economy-full-text/

Good morning, ladies and gentlemen. Today I want to talk to you about this government’s plan for economic recovery. Now, you’re probably thinking that a construction site is a strange place to make a speech. But I’ve invited you here for a reason.

No - none of them are odd or strange places for him to make his keynote speeches.

Edited by billybong

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Here it is again. NOT TRUE....about c.1m Londoners net have moved out over the last 20 years. The stats are so stark I don't understand why the media keeps getting this so wrong.

source ONS Internal Migration stats:

http://www.ons.gov.uk/ons/rel/migration1/internal-migration-by-local-authorities-in-england-and-wales/year-ending-june-2012/stb-internal-migration-for-england-and-wales--year-ending-june-2012.html#tab-Regional-level-moves

You have misread the information. Internal migration to the regions exceeds those moving into London, but overall, it clearly states that the population of London IS growing due to large numbers of migrants from Overseas.

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