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Business Savills Estate Agency Savills Is Latest To Warn Of Uk Housing Crisis

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http://www.theguardian.com/business/2014/may/19/savills-warns-uk-housing-crisis-shortage-new-homes

Estate agency Savills has added to the alarm over Britain's property market by warning of a "housing crisis" stoked by a shortage of new homes.

The intervention of Savills follows comments by the governor of the Bank of England, who warned of "deep structural problems" in the British housing market stemming from a shortage of fresh stock. Mark Carney's words have increased the pressure on the government to speed up the planning process and row back on reforms that have devolved house-building decisions in England to local authorities.

Savills has estimated that the shortfall in homes in the south of England will reach 160,000 in the next five years, unless local authorities act to make more building possible. "The talk of bubbles may be misplaced in a strict sense, but talk of a housing crisis isn't," said Savills in a report published on Tuesday.

The biggest deficiency is in London, where 14,400 more homes a year are needed to meet demand than are planned for by the Greater London Authority (GLA).

Susan Emmett, residential research director at Savills, said: "While the Conservatives have not set a house-building target, it has been the coalition government's policy to support the housing market as a mechanism for stimulating consumer confidence, creating jobs and therefore supporting economic growth. The general consensus on the need for more homes, however, masks local disagreements over what is to be built where."

Quick buy now before we run out of homes.

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*knock knock*

Come in yes, take a seat.

Now Caruthers, this weekend I noticed something of a change of sentiment in the media. Ive been chairman of … of….

Savills sir?

Yes Savills. Ive been chairman of Savills for 10 years now. And there are some rather upstanding looking gentlemen in the news lately talking in a rather complicated way about houses. That rang a distant bell somewhere, Caruthers. Houses.

Houses houses houses. Now where had I heard that before. Of course it took my dear lady wife until the next day to point out that it was in some way related to my work here, at erm...

Savills sir.

Savills yes. We do, erm, houses don't we. Yes houses. Of course I leave the details to the likes of you Caruthers. You do work here don't you?

Yes sir.

Ok then. So, we need to get in on this. There is a slight danger, slight mind you, that if we don't also talk about.. erm...

Houses sir.

Yes if we don't also talk about houses in the media, given that houses are apparently something to do with this company, we might not look like we know what we're doing. We might look like we have no understanding of it at all. And we can't have that.

So do a press release. Say what they're saying. Only focus more on houses. We are, after all, rather expert at houses.

Off you pop, Ive a squash game.

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I'm happy to admit I haven't a clue what's really going on here with all this sudden talk of needing more houses.

I suppose the only thing I'm certain about is that Carney, Clegg, Osborne and the industry VIs aren't really worried about a bubble. But what's the real purpose?

Is it simply to allow them to do nothing to stop the bubble until after the election by blaming it on the supply problem?

Or are they actively trying to ramp the bubble even more by talkign about supply problems? - maybe they're disappointed that it's not taken off yet outside of London and surrounding areas - and maybe they're worried MMR will slow it down?

Or something else entirely?

Edited by oldsport

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I'm happy to admit I haven't a clue what's really going on here with all this sudden talk of needing more houses.

I suppose the only thing I'm certain about is that Carney, Clegg, Osborne and the industry VIs aren't really worried about a bubble. But what's the real purpose?

Is it simply to allow them to do nothing to stop the bubble until after the election by blaming it on the supply problem?

Or are they actively trying to ramp the bubble even more by talkign about supply problems? - maybe they're disappointed that it's not taken off yet outside of London and surrounding areas - and maybe they're worried MMR will slow it down?

Or something else entirely?

Conceivably it's a feint to persuade us that they're serious about using macropru and the MMR to control prices going into the GE. Introduce these in London this autumn but at the same time insist that the regions need additional help to avoid missing out on a national construction boom. Lo, 'HtB3' is born, an extra-London extension of HtB2 'til 2020.

On the other hand, Osborne's spending is now so wildly out-of-control that the only way to finance the budget in future is probably through an infinite extension of QE. Interest rate rises? Forget it. Not when the govt is borrowing 7% of GDP every single year and the national debt is 90% of GDP. Never going to happen.

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There's loads of homes coming. This is Centenary Quay, Southampton taken from under the Itchen Bridge recently.

Untitled.png

centenary-quays.jpg

^Plan, three huge high rise blocks, with smaller blocks behind.

Edited by 200p

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It's very similar to the crowding publicity given to issues like the eu referendum, tuition fees, pensions, savings etc and so on before the last general election and before numerous elections for many years before that.

Make people/voters think that something is actually going to be done about a problem, get Uncle Tom Cobley and everybody else to say how serious it all is and so on and then after the elections forget about it renege on it until before the next election and then do the same stuff all over again but because the problems are even worse call it a real real problem this time that needs really serious attention. After the elections forget and renege .........................................................................................................................................................................................

They just time wasters wasting people's time.

Edited by billybong

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There's loads of homes coming. This is Centenary Quay, Southampton taken from under the Itchen Bridge recently.

Untitled.png

centenary-quays.jpg

^Plan, three huge high rise blocks, with smaller blocks behind.

ugh. is this the future? all living in high rises like some dystopian sci-fi flick..

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^yeah a bit like in Minority Report where the regular people live in blocks, and the richer people live in terraced houses with their own gardens.... (that was the opening scene)

That development, in Southampton if anyone is interested is Centenary Quay

http://www.crestnicholson.com/centenaryquay/

Newspaper article; http://www.dailyecho.co.uk/news/9856470.Southampton_s_skyline___2024_style/?ref=rc

2109093.jpg

The future! High rise blocks for the human race!

Edited by 200p

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^yeah a bit like in Minority Report where the regular people live in blocks, and the richer people live in terraced houses with their own gardens.... (that was the opening scene)

That development, in Southampton if anyone is interested is Centenary Quay

http://www.crestnicholson.com/centenaryquay/

Newspaper article; http://www.dailyecho.co.uk/news/9856470.Southampton_s_skyline___2024_style/?ref=rc

2109093.jpg

The future! High rise blocks for the human race!

Looks like Simon Jenkins and the NIMBY brigade are winning. Probably overpriced too.

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