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The next hot London boroughs: where and when will average house prices hit £500,000?

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Some of us are so obsessed with property. What about the crashing pound? Brexit?

The next hot London boroughs: where and when will average house prices hit £500,000?

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Young renters unleashed upon London for the first time tend to flock to the popular party hubs of Clapham, Brixton and Hackney, eager to be as central as rents will allow.

But when it comes to getting on the ladder or buying that first family home, many are forced to to fan out in search of an area in which they can afford to become owners, not tenants.

This momentum of migration creates “catch 22 boroughs”: gentrifying areas where a sustained increase in demand drives up values, eventually rendering them unaffordable for the next generation.

New research from the property group JLL has identified London’s locations of the moment, where prices are on track to breach the £500,000 threshold by 2020.

 

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49 minutes ago, Fairyland said:

Some of us are so obsessed with property. What about the crashing pound? Brexit?

The next hot London boroughs: where and when will average house prices hit £500,000?

 

You would have to pay me to live in any of those sh!t holes, bar Greenwich. However the centre of Greenwich, round the park and up towards blackheath is already mega expensive. Nonsense article trying to ramp 

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55 minutes ago, One-percent said:

You would have to pay me to live in any of those sh!t holes, bar Greenwich. However the centre of Greenwich, round the park and up towards blackheath is already mega expensive. Nonsense article trying to ramp 

Well - it IS based on a JLL study...

 

Greenwich is an odd place really. The centre, round the park and around Blackheath are as nice as anywhere in central London and far better than any of the other places listed. Once you get outside of that area though it gets very grim, very quickly. There are vast swathes of land up around Charlton out to places like Eltham, Woolwich and Abbey Wood that are just horrible to even drive through, let alone live in. 

 

I think a lot of it has to do with the labour dominated council - all they seem interested in is building up dependency so they keep getting voted in. They make a huge noise about being a "beacon" borough for affordable housing, but that affordable housing isn't for ordinary working people. It's social housing for jobless HB claimants

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6 minutes ago, EssKay said:

Well - it IS based on a JLL study...

 

Greenwich is an odd place really. The centre, round the park and around Blackheath are as nice as anywhere in central London and far better than any of the other places listed. Once you get outside of that area though it gets very grim, very quickly. There are vast swathes of land up around Charlton out to places like Eltham, Woolwich and Abbey Wood that are just horrible to even drive through, let alone live in. 

 

I think a lot of it has to do with the labour dominated council - all they seem interested in is building up dependency so they keep getting voted in. They make a huge noise about being a "beacon" borough for affordable housing, but that affordable housing isn't for ordinary working people. It's social housing for jobless HB claimants

Massive amount of building too, around the peninsula and up towards woolwich.  Grim.  I drive along that road quite often, crossing the Thames by both the tunnel and the ferry. I don't think I have ever seen the sun shine and it is always windy 

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The peninsula area is quite a nice little enclave actually. Well, if you're lucky enough to live in the bits facing the river anyway. The bits on the other side around the A102/Blackwall Tunnel approach are horrible.

 

Rather than doing anything to fix that though, they're going to add to the problem by building another tunnel that branches off towards Silvertown on the north bank. By the time that's done, they'll have created an island hemmed in on three sides by three lane A roads and tunnels. Bet they don't mention that in the marketing blurb for the new developments going up... 

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9 minutes ago, EssKay said:

The peninsula area is quite a nice little enclave actually. Well, if you're lucky enough to live in the bits facing the river anyway. The bits on the other side around the A102/Blackwall Tunnel approach are horrible.

 

Rather than doing anything to fix that though, they're going to add to the problem by building another tunnel that branches off towards Silvertown on the north bank. By the time that's done, they'll have created an island hemmed in on three sides by three lane A roads and tunnels. Bet they don't mention that in the marketing blurb for the new developments going up... 

I've been hearing about this tunnel off and on for years. Is it actually going ahead?

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20 minutes ago, EssKay said:

Full steam ahead unfortunately.

Sadiq Khan had an opportunity to kill it off after he took over as mayor but he appears to be all for it:

http://www.bbc.co.uk/news/uk-england-london-37552446

Ta.

 

it seems that the argument is predicated on a growing population. Maybe a hard brexit will shelve the plans again.  

 

That map ie very odd. It shows all the crossings but not the blackwall tunnel.

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1 hour ago, EssKay said:

Greenwich is an odd place really. The centre, round the park and around Blackheath are as nice as anywhere in central London and far better than any of the other places listed. Once you get outside of that area though it gets very grim, very quickly. There are vast swathes of land up around Charlton out to places like Eltham, Woolwich and Abbey Wood that are just horrible to even drive through, let alone live in. 

This is true of anywhere in London, and in some ways I think it is peculiar to London out of the cities I have lived in and visited. There isn't really a dividing line between a large nice area and the shit holes (like you might get in Sydney, to some extent, with east/west). Instead you get pockets of nice-to-very-nice areas surrounded by much worse areas, yet for some reason the populace doesn't seem to overlap much. E.g. Dulwich village is almost like another world, but is within a mile or so of some of the roughest parts of Brixton and Peckham. I don't think you are ever more than a mile or so from somewhere pretty dodgy, although it is all a lot better than it was when I was growing up there.

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2 hours ago, EssKay said:

Well - it IS based on a JLL study...

 

Greenwich is an odd place really. The centre, round the park and around Blackheath are as nice as anywhere in central London and far better than any of the other places listed. Once you get outside of that area though it gets very grim, very quickly. There are vast swathes of land up around Charlton out to places like Eltham, Woolwich and Abbey Wood that are just horrible to even drive through, let alone live in. 

 

I think a lot of it has to do with the labour dominated council - all they seem interested in is building up dependency so they keep getting voted in. They make a huge noise about being a "beacon" borough for affordable housing, but that affordable housing isn't for ordinary working people. It's social housing for jobless HB claimants

 

Aye. But crossrail will have a major effect on even these areas. Expect those areas to be the new hipsters paradise.

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6 minutes ago, mattyboy1973 said:

This is true of anywhere in London, and in some ways I think it is peculiar to London out of the cities I have lived in and visited. There isn't really a dividing line between a large nice area and the shit holes (like you might get in Sydney, to some extent, with east/west). Instead you get pockets of nice-to-very-nice areas surrounded by much worse areas, yet for some reason the populace doesn't seem to overlap much. E.g. Dulwich village is almost like another world, but is within a mile or so of some of the roughest parts of Brixton and Peckham. I don't think you are ever more than a mile or so from somewhere pretty dodgy, although it is all a lot better than it was when I was growing up there.

Yep - It's true of most of the boroughs surrounding central London although there's usually less of a contrast between the nice areas and dodgy areas

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2 minutes ago, Tapori said:

 

Aye. But crossrail will have a major effect on even these areas. Expect those areas to be the new hipsters paradise.

Currency depreciation = inflation spike. That's going to nail all of the above! FYI - Price reduction in the suburbs appears to be all the rage!

http://www.dailymail.co.uk/wires/reuters/article-3827518/Volatile-falling-unstable-sterling-evokes-prior-UK-emerging-FX-crises.html

I am too liberal to read the mail, but sometimes it is unavoidable!! I am off to repent with 30 hail guardians!

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7 minutes ago, Tapori said:

 

Aye. But crossrail will have a major effect on even these areas. Expect those areas to be the new hipsters paradise.

I take it you've never been to Abbey Wood :) 

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The Telegraph financial and business pages have become a joke. Supported by City and  house price ramping propaganda. If you look at this article , it stands out like a sore thumb amongst the other very gloomy articles on terrible UK economy such as slumping £, manufacturing data down , etc etc.

And their consistency is a joke. Mathew Lynn has been supporting Eurozone QE, but when it comes to UK QE he is up in arms. They are idiots and/or have hiden City agendas  

  

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The last time I went to Hackney one of the tube stations and side roads was cordoned off for a murder investigation. The locals seemed fairly relaxed about it - guess it's gang on gang. Don't get caught in the cross-fire?

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On 7 October 2016 at 7:45 PM, EssKay said:

I take it you've never been to Abbey Wood :) 

I thought abbey wood was renamed the Olympic village in 2012, or was that thamesmead! 

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13 hours ago, Gribble said:

The Telegraph financial and business pages have become a joke. Supported by City and  house price ramping propaganda. If you look at this article , it stands out like a sore thumb amongst the other very gloomy articles on terrible UK economy such as slumping £, manufacturing data down , etc etc.

And their consistency is a joke. Mathew Lynn has been supporting Eurozone QE, but when it comes to UK QE he is up in arms. They are idiots and/or have hiden City agendas  

 

 

Yeah but you're just a QC Silk Tax Specialist.  What would you know.  Answers are, because it's BTL innit.  Hardworking people, 'pensions', 'taken responsibility, 'providing homes' - 'BTL a business' etc etc. 

 

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