Death Of London

[Yadda yadda yadda]

As the comments suggest it is hospitality workers who have left. Shop staff too. Office work has all shifted to WFH. Not much furlough there.

On the rental map note that those areas where prices have gone up are those that are both relatively affordable and offer gardens. Flats are fucked. Who wants to be stuck working from home in a flat with no outside space and the potential for noisy neighbours in all directions?

No mention of UK citizens leaving London. Typical FT only cares about foreigners. Lots of UK people are leaving.

[Rare Bear]

2 hours ago, Yadda yadda yadda said:

As the comments suggest it is hospitality workers who have left. Shop staff too. Office work has all shifted to WFH. Not much furlough there.

On the rental map note that those areas where prices have gone up are those that are both relatively affordable and offer gardens. Flats are fucked. Who wants to be stuck working from home in a flat with no outside space and the potential for noisy neighbours in all directions?

No mention of UK citizens leaving London. Typical FT only cares about foreigners. Lots of UK people are leaving.

I suspect that those leaving might be ones who actually do work while the 100% benefit brigade will remain.

[Yadda yadda yadda]

28 minutes ago, Rare Bear said:

I suspect that those leaving might be ones who actually do work while the 100% benefit brigade will remain.

Yes. That is correct. There might be some benefit families relocated by councils but otherwise it will be people who are working or did until covid.

[Curious Pattern]

 

43 minutes ago, Yadda yadda yadda said:

Yes. That is correct. There might be some benefit families relocated by councils but otherwise it will be people who are working or did until covid.

Falling rents in London might stop them shovelling dossers out into the surrounding counties, but I'm not hopeful. It would be nice if we could shovel some of them back in. Would the last productive person leaving London please leave the door ajar.

[spygirl]

3 hours ago, Yadda yadda yadda said:

As the comments suggest it is hospitality workers who have left. Shop staff too. Office work has all shifted to WFH. Not much furlough there.

On the rental map note that those areas where prices have gone up are those that are both relatively affordable and offer gardens. Flats are fucked. Who wants to be stuck working from home in a flat with no outside space and the potential for noisy neighbours in all directions?

No mention of UK citizens leaving London. Typical FT only cares about foreigners. Lots of UK people are leaving.

Its not so hat flat will do better than houses.

Its the simple fact that all property in London is selling on insane multiples that leave absolutely no chance for a slight hiccup, never mind a recession or a major structural shft in employment.

Buying a house to live in in the North, at sub 4x LTE, like durhaborn's son has done recently is a no brainer.

I doubt they'll make money. But its a reasonable inflation hedge and cheaper than renting.

Buying a crap clad HTB flat for 400k - some 15+ LTE is totally fucking insane.

https://www.bbc.co.uk/news/stories-51412328

Especially if:

https://www.bbc.co.uk/news/newsbeat-54062189

if you are italain and now working in NI..

Valeria Martorelli bought her shared ownership flat in a low-rise block in London two years ago, aged 26.

She owns 35% of it, with a housing association owning the rest.

When she put the flat on the market after getting a new job in Belfast, she was told lenders would need to see an EWS1 form in order to give buyers a mortgage.

And housing association buying a share when the person is not British ...

 

Every one of them needs to burn.

[Shamus]

My place of work a major Thames valley employer has decided that no one is coming back. All wfh with the building presently for sale and everyone given notice the jobs are going as well between now and end of 2022 done in stages to avoid bulk redundancies.  Town along from Reading near M4. 

[Option5]

On 22/01/2021 at 10:43, Yadda yadda yadda said:

No mention of UK citizens leaving London. Typical FT only cares about foreigners. Lots of UK people are leaving.

That's me, eventually made the semi permanent move to Norway. Just about to sign up for at least another 2 years here.

I'll come back  to the UK when you lot get your act together 

p.s. just off to the shops..... maskless.

[Guest]

13 minutes ago, Option5 said:

I'll come back  to the UK when you lot get your act together 

The UK getting its act together is at least 10 years away, we're in the pre-Boomer+Boomer fin de siecle in which the Government throws increasingly unsustainable amounts of money at maintaining the status quo rather than allow the obvious economic imbalances to correct naturally.

[maffo]

[Hancock]

1 hour ago, maffo said:

Be far to Sadiq, Londons been an absolute cesspit for ages.

Need to build a wall round it.

[Guest]

11 hours ago, maffo said:

Destroying the Square Mile is the best thing any UK politician could do right now, it's a parasite sucking the life years out of the average Joe via asset price inflation. Unfortunately Sadiq Khan is a Blairite who would sooner give a banker a happy ending than string him up from a lamppost.

[King Penda]

7 hours ago, Darude said:

Destroying the Square Mile is the best thing any UK politician could do right now, it's a parasite sucking the life years out of the average Joe via asset price inflation. Unfortunately Sadiq Khan is a Blairite who would sooner give a banker a happy ending than string him up from a lamppost.

Automated machine guns trip wires 100 yards in both directions of the m25 and mines lots of big ones small ones etc etc .we could have live drone footage I’d think things could start to get fun after a week.

[ccc]

On 23/01/2021 at 12:23, Shamus said:

My place of work a major Thames valley employer has decided that no one is coming back. All wfh with the building presently for sale and everyone given notice the jobs are going as well between now and end of 2022 done in stages to avoid bulk redundancies.  Town along from Reading near M4. 

Aviva ? They announced this also. 

[Yadda yadda yadda]

10 minutes ago, stokiescum said:

Automated machine guns trip wires 100 yards in both directions of the m25 and mines lots of big ones small ones etc etc .we could have live drone footage I’d think things could start to get fun after a week.

You need some sort of anti-air defence to take out helicopters and Heathrow departures.

[Wight Flight]

38 minutes ago, Yadda yadda yadda said:

You need some sort of anti-air defence to take out helicopters and Heathrow departures.

It has already been proven that just one drone can close down Heathrow.

[Shamus]

59 minutes ago, ccc said:

Aviva ? They announced this also. 

Grass Valley in former Quantel building. Rumours of only needing a dozen on site. All R&D roles being replaced in Krakow.  They plan to drip lose the jobs in 4 stages this year and more next year. I guess to limit the damage and confidence to the brand. 

[Option5]

19 hours ago, Hancock said:

Be far to Sadiq, Londons been an absolute cesspit for ages.

Need to build a wall round it.

Then put a roof on it.

 

 

 

Then fill it with water.... 

[spygirl]

 

[Popuplights]

My daughter is taking a job at a London hospital later this year. She is looking at flats to rent. And rents appear to be falling, so she is very happy. 

[sarahbell]

8 minutes ago, Popuplights said:

My daughter is taking a job at a London hospital later this year. She is looking at flats to rent. And rents appear to be falling, so she is very happy. 

We do ipsos surveys and collect the stats questions on how many people have blue eyes etc - the renting / living at home one has moved a couple of percent to living with parents in quite a short space of time.

[Popuplights]

1 minute ago, sarahbell said:

We do ipsos surveys and collect the stats questions on how many people have blue eyes etc - the renting / living at home one has moved a couple of percent to living with parents in quite a short space of time.

She's with us at the moment!!!

[dgul]

19 minutes ago, spygirl said:

 

IMO there's a need to separate out the 'migration to the countryside' vs 'migration out of the country'.  If people are just leaving London for the countryside then it'll act to lower prices in London but increase them elsewhere, whereas if they're leaving the country then it'll lead to an overall lowering of prices in the UK.

[sarahbell]

40 minutes ago, dgul said:

IMO there's a need to separate out the 'migration to the countryside' vs 'migration out of the country'.  If people are just leaving London for the countryside then it'll act to lower prices in London but increase them elsewhere, whereas if they're leaving the country then it'll lead to an overall lowering of prices in the UK.

Zoom town rats

[wherebee]

59 minutes ago, Popuplights said:

My daughter is taking a job at a London hospital later this year. She is looking at flats to rent. And rents appear to be falling, so she is very happy. 

I negotiated a new rental in HK one time when rentals were falling.  Tell her to go as hardball as she likes with half a dozen possibles - free months, %age off, replacement of white goods, whatever she feels like.  When landlords are being squeezed and desperate for good tenants, you'll be amazed at what they agree.

Also a great time to insert clauses in the contract such as no entry without 48 hours notice and agreement/right to exit contract without penalty if she loses her job, etc.

[The Generation Game]

1 hour ago, dgul said:

IMO there's a need to separate out the 'migration to the countryside' vs 'migration out of the country'.  If people are just leaving London for the countryside then it'll act to lower prices in London but increase them elsewhere, whereas if they're leaving the country then it'll lead to an overall lowering of prices in the UK.

Anecdotally, it appears that all 10m are relocating to the IoW.