Sunday, Apr 19, 2015

Uk to be 60s retro hellholes

Dailymail: 260 tower blocks to be built in london

I think I will call the top.of the market! What a farce and total lack of imagination

Posted by taffee @ 09:13 AM (7790 views)
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1. khards said...

Should help ease house prices.

"They aren't making land anymore" - Yes they are..

Sunday, April 19, 2015 09:40AM Report Comment

2. jack c said...

Khards, I think we've been here before

Sunday, April 19, 2015 10:01AM Report Comment

3. cyril said...

A surveyor fried of mine once told me that skyscrapers are in fact not a very good use of space - because services like lift shafts take up lots of space inside the building the density is not as high as you would think (and of course the cost of building is higher than a low rise building of the same capacity).
Its a far cry from the high rise tower blocks of the 1960s which were built for council tenants (and often out of town centres). These ones are more like vanity projects - oh no another 'iconic' building...

Monday, April 20, 2015 09:06AM Report Comment

4. Icarus said...

Driven largely by Chinese private capital inflows into real estate and infrastructure projects in London and the South East and not by serving housing needs. It's just a bubble of overseas investment in high-end residential property, so many of these flats will be left empty.

The Ken Livingstone / Richard Rogers London Plan was to make London more vibrant through higher densities, achieved with the help of good design and quality public spaces. This emphasised the idea that towers are acceptable only if they "are well-designed and in the right place". "Density" has become height, and design and siting pieties are out the window.

Johnson, when first running for Mayor, said he would not allow a "Dubai-on-Thames", and Pickles told the Architects Journal: "We attach great importance to good design of buildings and neighbourhoods and have empowered communities so they can shape developments to reflect local needs." (cont. p94). And these buildings have been designed in isolation

Southwark, Lambeth and Wandsworth readily give permission for tall buildings along their patch partly to collect contributions for affordable housing and partly because they lack the financial/legal resources to argue with developers. Johnson has the power to intervene, but doesn't, Pickles ditto. New York has applied strict rules to the building of skyscrapers for nearly a century but the only strict rules in London concern views of St Pauls and the Palace of Westminster. Shambles.

cyril - yes, inflexible, expensive to run, high aircon costs, space wasted on structure and lifts.

Monday, April 20, 2015 10:01AM Report Comment

5. doomwatch said...

"will provide luxury flats for young professionals and the super-rich"

erm, foreign speculators then [so called "investors" in the main stream media, as this sounds more paletable for us dummies
in the UK] who no doubt will avoid paying stamp duty or capital gains taxes.

They've probably been sold "off plan" already as it's the only way they can fund building them in this
so successful economy.

Anybody else thinking 1920s Florida land bubble ?

Monday, April 20, 2015 01:45PM Report Comment

6. mark said...

There are 4 large schools I know of near me, all closed and have sat empty for at least 5 years, each school must easily sit on 10 acres within built up areas

why are these empty rotting places not being used ?

pure corruption of house prices by local councils working for a corrupt government

this country needs a proper shake up as do the people for not complaining vocally enough

Tuesday, April 21, 2015 11:10AM Report Comment

7. icarus said...

What's happening at hpc? I posted a comment here well over 24 hours ago and inadvertently sent it without my password. Usually such a comment would be up by now. I did once suggest that when this happens there should be a prompt to give a sender a chance to attach his password - akin to the message that comes back when you make a comment with an unacceptable word in it.

Tuesday, April 21, 2015 12:37PM Report Comment

8. cornishman said...

6. icarus said...

"What's happening at hpc?"

Not a lot, by the look of things!

Thursday, April 23, 2015 08:32AM Report Comment

9. mister ed said...

Shortage of posts?

Libertas come back! All is forgiven!

Thursday, April 23, 2015 10:29AM Report Comment

10. reticent said...

I was going to post the Grant Shapps debacle yesterday but it's not that relevant, other than those of us who have been visiting the site since he was housing minister will be happy to see him embarrass himself.

Thursday, April 23, 2015 03:56PM Report Comment

11. cyril said...

I didn't really understand the Grant Shapps thing. I looked at his wikipedia entry and couldn't see anything unusual. He is a bit dodgy though.

Thursday, April 23, 2015 04:07PM Report Comment

12. nickb said...

Steady on Mr Ed ... have you thought that through?
Lack of activity on HPC is a good sign. When the last HPC poster throws in the towel, that will be the top of the market. Libertas already gave up and bought a house, so only a matter of time before he disappeared (surely not to gloat over the rising notional value of his home). On the other hand, the market is bound to collapse shortly after I cave in and buy (assuming that is still possible, not being an "investor" but actually wanting somewhere to live). So maybe I should do us all a favour and bring this about pdq?

Thursday, April 23, 2015 10:05PM Report Comment

13. tenyearstogetmymoneyback said...

Doomwatch @ 5

I wonder how many people remember that the Canary Wharf developer went bankrupt in 1992.
Some colleagues who were working in Whitehall rented a flat there because it was really cheap
as most of the other flats were empty.

Friday, April 24, 2015 10:52PM Report Comment

14. libertas said...

I am waiting for May 31st, when our area, Edmonton, North East London, gets on the London Overground rail link. Presently, three bed terraced homes (we bought one) sell for about £300k, yet the average around London is nearer £400k, so I expect a swift re-valuation for the area along hopefully with some nice cafe's and independent shops moving into the very affordable retail space that abounds. Tottenham will gain massive benefit.

Saturday, April 25, 2015 11:21AM Report Comment

15. icarus said...

...and then, when Spurs get into Europe.....

Saturday, April 25, 2015 03:07PM Report Comment

16. reticent said...


Now look what you've done!

10ytgmmb, my parents often mention that as an indicator as to how far prices can fall. The banks supposedly sold canary wharf flats at auction for 75% off their intended selling price. No bridging loans back then, so it was all cash investors.

That anecdote was a big reason I missed the bottom in 2009. Things were v different this time. No construction boom. No forced sellers. IRs down to zero as opposed to doubling in a few months. Huge population increase in London that had only just begun back then (after a century of decline). But I only learned all that after reading articles on here for a decade and watching some economics lectures.

That's why I'm always telling people here not to expect much more than a 20% fall.

Saturday, April 25, 2015 03:08PM Report Comment

17. nickb said...

But they fell ~27% from the last peak to the last trough, so I'm not sure how you work that one out exactly. The other things that happened were throwing money at and nationalising the banks, QE, HTB, FLS and probably other rouses I have temporarily forgotten. Population has increased but by how much compared to the house price increase? Over time, do you think house price bears any clear correlation to population? I bet not, especially so if you take a long view ie say from the 1950s. According to the DCLG stats, there have never been more dwellings per head than there are now.

Sunday, April 26, 2015 10:39PM Report Comment

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