Thursday, November 5, 2009

Population growth

Why house price bears shouldn't worry about immigration

"I've been asked several times if I'm concerned about last month's 'forecasts' from the Office of National Statistics that the UK population will grow from 61m to 72m by 2033. Surely this rise, a result of Brits having more babies but mainly due to immigration, would drive demand for property, especially in the south-east of England, where these migrants are most likely to find well-paid work. Here's two reasons why you should treat this assumption with suspicion."

Posted by wanderinman @ 06:02 PM (904 views)
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3 thoughts on “Population growth

  • I’m not bothered about immigration affecting house prices – I lived in newcastle for a decade during which time the population went down, the number of houses went up and prices rose 200% because of credit availability. What would concern me greatly is a bunch of banksters, bailed out by the taxpayer, backed by our government and guaranteed not to fail, lending large sums of money again to give support to precious homeowners and their entitlement to mock-tudor cash machines.

    I can only see prices rising from the top of the current mole-hill if volumes start dropping or banks start silly lending again.

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  • It makes no odds about immigration as many people who were born in the U/K cant afford to buy homes, a big percentage of immigrants are poor and the ones with real money dont come to the U/K, plus people with money are getting out

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  • “in the south-east of England, where these migrants are most likely to find well-paid work”

    You can bet that the majority of these migrants won’t have suitable qualifications to find well-paid work therefore they won’t have any effect on the housing market.

    Before any smart ar*e starts accusing me of being a BNP supporter, I’m not. I am stating an obvious fact if you stop and think about this rationally and unemotionally.

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