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Third Of Londoners May Have To 'move Over Housing Costs'

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http://www.bbc.co.uk/news/uk-england-london-27941481

Third of Londoners may have to 'move over housing costs'

About 34% of London residents believe they may have to "move out of their local area" in future due to the high cost of housing, a poll has revealed.

The Chartered Institute of Housing and Ipsos Mori survey also found that 68% of respondents believed it was harder for their generation to buy or rent.

And 44% of Londoners who responded felt politicians were not paying a lot of attention to the issue of housing.

The London Mayor's office said it was working to boost housing supply.

The results of the online survey, which took the views of 2,000 adults in the UK aged between 16 and 75, were published ahead of the CIH conference.

The poll found 30% of Londoners polled were concerned about being able to pay their rent or mortgage, compared to the UK average of 24% and about 36% said the worries were putting them under "a great deal or a fair amount of stress".

CIH chief executive Grainia Long said: "It is deeply disturbing that a third of Londoners think they might have to leave their local area because the cost of housing is too high.

"Many areas are well on the way to becoming out of bounds to all but the very wealthiest households - if things."

Accelerate development

The Labour group in the London Assembly said the government needed to lift the remaining borrowing cap on councils to enable them to build new homes.

Housing spokesperson for the group, Tom Copley, added: "I'm supporting proposals to make renting in London more stable and affordable by introducing three-year tenancies as standard with caps on annual rent increases, and a ban on lettings agency fees for tenants."

Earlier this month the Treasury announced a £400m scheme to build up to 50,000 new homes on 20 brownfield sites in the capital.

Deputy Mayor for Housing and Land, Richard Blakeway, said: "The mayor's housing strategy sets out a number of innovative measures to address structural challenges in the market, building on his 100,000 low cost homes programme, attracting new forms of investment to housing, and improving standards in the private rented sector."

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The 44% of Londoners who think politicians are not paying a lot of attention to housing are obviously wrong. Politicians pay a lot of attention to house prices, they also pay attention to key electoral demographic groups who tell pollsters they want to see high and rising house prices, 1+1=2.

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"The London Mayor's office said it was working to boost housing supply."

Lying Chunts. Working hard to boost the values of their BTL portfolio's I suspect

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And 44% of Londoners who responded felt politicians were not paying a lot of attention to the issue of housing.

The poll found 30% of Londoners polled were concerned about being able to pay their rent or mortgage, compared to the UK average of 24% and about 36% said the worries were putting them under "a great deal or a fair amount of stress".

Telling stats....and that is only the ones that would admit to being concerned....a fair number continue to have their heads in the sand, if you ignore it it will go away. ;)

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Without the massive funnelling of housing benefit, even more would feel the need to move.

(over 25% of London households are in receipt of housing benefit in work or no)

Totally agree - and that's an average. In boroughs like Hackney, Newham and Haringey its not far off 40% of the population in receipt of HB the vast majority of whom are of working age.

I do think London averages are meaningless though - if you rent in Islington and want to buy a place well you are probably going to have to move away. If you live in zone 5 or 6 where house prices are cheaper.

London is not a single story when it comes to housing!

Edited by MARTINX9

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Totally agree - and that's an average. In boroughs like Hackney, Newham and Haringey its not far off 40% of the population in receipt of HB the vast majority of whom are of working age.

I do think London averages are meaningless though - if you rent in Islington and want to buy a place well you are probably going to have to move away. If you live in zone 5 or 6 where house prices are cheaper.

London is not a single story when it comes to housing!

Why should people who don't live in inner London, pay taxes so people in inner London get housing benefit? I would love to live in Hackney but can't afford to.

Edited by iamnumerate

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The story of Londoners moving to the country, buying cheaper property and pricing out the locals, has been a big issue for as long as I can remember.

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Why should people who don't live in inner London, pay taxes so people in inner London get housing benefit? I would love to live in Hackney but can't afford to.

Totally agree but housing benefit is actually landlords benefit, so all those rich slumlords will keep voting Tory/Labour/whoever doesn't cut the housing benefit gravy train.

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Totally agree but housing benefit is actually landlords benefit, so all those rich slumlords will keep voting Tory/Labour/whoever doesn't cut the housing benefit gravy train.

Its also a benefit to business so they can pay wages below the liveable rate.

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They are, has been plenty of stuff in the media about Far East investors snapping up new build outside of London, commuter belt and pricing out local first time buyers.

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They are, has been plenty of stuff in the media about Far East investors snapping up new build outside of London, commuter belt and pricing out local first time buyers.

Well, you say that. But is it true? Proof, please.

The Media is Advertising.

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There was a comment below some Daily Mail property ramping article a week or so back in which the poster claimed to be earning 250K a year but could not afford to buy in central London. IIRC the poster said that he worked in finance so I assume that he was a banker of some sort.

London has always been a dreadful place IMPO - you only went there to earn money and even that was probably not worth it in terms of wasted life moments. Now, with it being so expensive, why would anyone with a brain go and work in London?

Seems to me that only super rich foreigners, some of whom have dubious money, can now afford to live in London or those who are entirely on benefits.

Have the British been priced out of their own capital city?

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...

I do think London averages are meaningless though - if you rent in Islington and want to buy a place well you are probably going to have to move away. If you live in zone 5 or 6 where house prices are cheaper.

...

I live in zone 6 and prices aren't "affordable". From a single persons perspective, that boat sailed a long time ago. Relatively cheaper when compared to central London maybe, but you're still talking stupid amounts of money.

Have the British been priced out of their own capital city?

Looks like it, from where I am at least.

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I live in zone 6 and prices aren't "affordable". From a single persons perspective, that boat sailed a long time ago. Relatively cheaper when compared to central London maybe, but you're still talking stupid amounts of money.

.

I agree its not cheap - but here for example is a 3 bed end of terrace house with offstreet parking and a garden on for £200k which is a short walk from a zone 5 Crossrail station.

Not the most glamorous locations I admit - but its still possible to find relatively affordable housing although I accept you would need an above average wage for it.

http://www.rightmove.co.uk/property-for-sale/property-30836139.html

Edited by MARTINX9

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"London housing is a global asset class"

Alexander Boris de Pfeffel Johnson, Born New York, Mayor of London

Davos 2014.

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I agree its not cheap - but here for example is a 3 bed end of terrace house with offstreet parking and a garden on for £200k which is a short walk from a zone 5 Crossrail station.

Not the most glamorous locations I admit - but its still possible to find relatively affordable housing although I accept you would need an above average wage for it.

http://www.rightmove.co.uk/property-for-sale/property-30836139.html

That house has 2 bedrooms, not 3.

Edit: Also, if you go on Streetview and look at the other houses on the road it's clear that this "end of terrace" is actually somebody's extension which they've decided to wall off and sell. It's not a normal purpose-built house.

Edited by Dorkins

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I agree its not cheap - but here for example is a 3 bed end of terrace house with offstreet parking and a garden on for £200k which is a short walk from a zone 5 Crossrail station.

Not the most glamorous locations I admit - but its still possible to find relatively affordable housing although I accept you would need an above average wage for it.

http://www.rightmove.co.uk/property-for-sale/property-30836139.html

Some landlord wanting to sell into the reflation?

Being sold with tenancy currently achieving £900PCM

Sale Date: 16 Nov 2010
Price Paid: £158,000
Listing pics from when it still had something of a front garden, and a few changes since inc kitchen wallpaper and flooring:
Edited by Venger

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Some landlord wanting to sell into the reflation?

Being sold with tenancy currently achieving £900PCM[/size]

Sale Date: 16 Nov 2010

Price Paid: £158,000

Listing pics from when it still had something of a front garden, and a few changes since inc kitchen wallpaper and flooring:

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=30673186&sale=44882864&country=england

Oh, God - that hideous 'statement' wallpaper...

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That house has 2 bedrooms, not 3.

Edit: Also, if you go on Streetview and look at the other houses on the road it's clear that this "end of terrace" is actually somebody's extension which they've decided to wall off and sell. It's not a normal purpose-built house.

Also the bathroom is downstairs, opening off the kitchen, and has no toilet. The toilet is upstairs.

And I've rented mobile homes in France with bigger kitchens.

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This is starting to become evident in my area (E Berks commuter belt.) A few renting families I know of (mainly other parents at kids school) are dealing with this problem in two different ways.

1. Finding work elsewhere and moving away to where rent is cheaper - I posted not long ago in anecdotals about a family that could no longer live in the area; he's a carer and she is a teaching assistant. They have now found new work and are moving north in 6 weeks' time.

2. BTL in a cheaper area to subsidise high rent or mortgage locally. Very foolish IMO, but they are convinced it makes sense. e.g. has a deposit that could buy a 3-bed house outright in a town further north (80-100K,) but would not be enough for a deposit to get a mortgage for a 2-bed terrace round here (£300K) on their incomes. I know of 1 family that has already done this and a second that is planning to.

Option 2 could very well push up prices elsewhere

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I would love to live in Hackney but can't afford to.

I never thought I'd live to hear the day when someone would write that! Or are taking the p1ss?

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That property (which is pretty dire for all the reasons other posters have listed) isn't in London it's in Dagenham, Essex: there's a qualitative difference and therefore you'd expect a commensurate price difference. It's being in the London zoning system is rather like the airport at Southend being designated a London airport, it doesn't change anything in practice.

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