Tuesday, July 3, 2012

London property report

Home is where the money is

"High house prices make life difficult for Londoners and threaten the city’s prosperity"

Posted by rumble @ 08:49 PM (1285 views)
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3 thoughts on “London property report

  • mark wadsworth says:

    “Taking a mile off the Green Belt all around London would release around 25,000 hectares, the equivalent of a sixth of London’s area—far more than would be needed to make a huge difference to housing availability.”

    and

    “Discouraging people from buying it as second homes would make it more affordable for those who want to live and work in the city. One way of doing that would be to make the council tax more progressive, and raise its level. That would anyway be a good idea, because taxes on wealth hurt enterprise less than taxes on income. “

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  • Apparently its the high cost of housing that drives ‘an MBA student from Lahore, to live in a shed with her husband, two children, her cousin and her cousin’s husband for £700/month. Rather than Londons perverse economy of financial and immigration driven extremes, with at the opposite extreme Rinat Akhmetov, a Ukrainian with a £136m penthouse flat. The demographic and financial changes London has seen over the last 25-30 years can hardly be described as sustainable in the long term and I only hope it doesn’t end up like an English version of Batman’s Gotham City.

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  • “According to Yolande Barnes, head of residential research for Savills, another high-end estate agency, movements in London property are closely aligned with those in the price of gold.”

    Interesting.

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