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Look at those prices.  To live in, as DT says, shitholes.

To pay that each month out of your own money, if you are earning legally in the UK, you have to earn at least GBP3,500 a month.  Add on 500 quid a month pre tax for utilities.  Add on 500 pre tax for food n supplies. 

So before any actual 'living', or saving, you have to earn 50k+ a year to cover the bases for one of those.  How many people in London earn that?

 

It shows how the dead hand of the state distorts markets so that everything becomes more and more expensive if you are not in one of the 'protected' groups.

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3 hours ago, Long time lurking said:

I`m sure i read somewhere there was something like 3.5 rooms to let for every person registered with room letting advertisers ,as the post above at these prices every room has to have someone in paying their share 

There’s been a glut of supply for house/flat shares for a while. Back in the mid to late 2000’s when I originally moved to London up until the early 2010’s it was pretty brutal finding somewhere half decent. From the mid 2010’s I found it was surprisingly easy. Generally speaking I found I’d be offered almost every place I visited. A lot more landlords seemed to be letting on a room by room basis and seemingly every single first time buyer with a spare room was taking in a lodger.

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11 hours ago, sancho panza said:

rentals market is the key cash indicator of where the market is.

Love that thread.....thanks for that.Feel free to keep psoting any others.

Its is now, post BTL and all that properdee madness.

Londons private rental sector has moved from somewhere around 10% of housing stock to about 40%+

Id hazard a guess (and I cant check this, beyond anecdotes) that a hefty percent if not the majority of house sales in London over the last 20 years have been investments andor BTL.

(I have a ongoing argument on TOS with a occasional poster on here about the state Reading rental market - I reckon its 50%+, mainly students and benefit dependent low paid paid migrants).

Having the housing market made up of a large, private sector sector is gping to make the housing market incredibly volatile - shooting up onthe way up, dropping like a stick on the way down.

London LL have commited to large IO mortgage, rented out to people on 1 month rental contracts.

Banks shold have never got into this market.

 

 

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On 26/10/2020 at 08:19, spygirl said:

I have a ongoing argument on TOS with a occasional poster on here about the state Reading rental market - I reckon its 50%+, mainly students and benefit dependent low paid paid migrants

 

This is probably the closest dataset available. Produced 2016 from the 2011 census data. Obviously 10 years out of date now so could have changed somewhat.

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/datasets/townsandcitiesanalysis

image.png.505d25b1f3dcab94fe0858cdc92e35fd.png

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On 26/10/2020 at 01:25, wherebee said:

Look at those prices.  To live in, as DT says, shitholes.

To pay that each month out of your own money, if you are earning legally in the UK, you have to earn at least GBP3,500 a month.  Add on 500 quid a month pre tax for utilities.  Add on 500 pre tax for food n supplies. 

So before any actual 'living', or saving, you have to earn 50k+ a year to cover the bases for one of those.  How many people in London earn that?

 

It shows how the dead hand of the state distorts markets so that everything becomes more and more expensive if you are not in one of the 'protected' groups.

Those Somalis must work really hard.

 

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35 minutes ago, CVG said:

This is probably the closest dataset available. Produced 2016 from the 2011 census data. Obviously 10 years out of date now so could have changed somewhat.

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/datasets/townsandcitiesanalysis

image.png.505d25b1f3dcab94fe0858cdc92e35fd.png

IIRC between the 2000 and 2010 census the white britishs population of Reading fell from ~85% to ~55%.

Id guess that trend has been accelerated 2010->2020.

10 year old data for UK pop is useless. 2 years is pushing it.

I reckon that Reading is ~50%-60% rentals, occupied mainly by low/no earning migrants.

The M4 corridor housing market  is now more affected by migrant access to benefits than interest rates.

 

 

 

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On 26/10/2020 at 08:19, spygirl said:

Its is now, post BTL and all that properdee madness.

Londons private rental sector has moved from somewhere around 10% of housing stock to about 40%+

Id hazard a guess (and I cant check this, beyond anecdotes) that a hefty percent if not the majority of house sales in London over the last 20 years have been investments andor BTL.

(I have a ongoing argument on TOS with a occasional poster on here about the state Reading rental market - I reckon its 50%+, mainly students and benefit dependent low paid paid migrants).

Having the housing market made up of a large, private sector sector is gping to make the housing market incredibly volatile - shooting up onthe way up, dropping like a stick on the way down.

London LL have commited to large IO mortgage, rented out to people on 1 month rental contracts.

Banks shold have never got into this market.

 

 

I've said it before and I'll say it again, if you look at the big boost in BTL I'm convinced it was timed to provide a big boost in space available for migrant labour by leveraging an age group out of ownership into extended period in education / living from home, multi-letting themselves. Planned flooding of the market with the govt and banks pushing it for fat fees and bigger profits for the corporates and investors by destroying wages.

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3 hours ago, DTMark said:

I can't believe this one ins't flying off the proverbial shelves. Who would pass up the opportunity to pay over a thousand pounds a month to experience the delight of living in Finsbury Park.

I actually can't believe it ... that part of FP is very middle class these days (anywhere around Clissold Park is). I think in general it's just the exodus from London that has happened recently with loads of job losses.

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On 26/10/2020 at 08:19, spygirl said:

Its is now, post BTL and all that properdee madness.

Londons private rental sector has moved from somewhere around 10% of housing stock to about 40%+

Id hazard a guess (and I cant check this, beyond anecdotes) that a hefty percent if not the majority of house sales in London over the last 20 years have been investments andor BTL.

(I have a ongoing argument on TOS with a occasional poster on here about the state Reading rental market - I reckon its 50%+, mainly students and benefit dependent low paid paid migrants).

Having the housing market made up of a large, private sector sector is gping to make the housing market incredibly volatile - shooting up onthe way up, dropping like a stick on the way down.

London LL have commited to large IO mortgage, rented out to people on 1 month rental contracts.

Banks shold have never got into this market.

 

 

If so, it could result in higher countryside prices post-Covid.

So prices outside towns will go up, while BTL city landords will be left holding the baby.

I have been assuming that city people wanting to move out of cities would have to sell up first, but of course many will be renting.

 

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1 hour ago, Happy Renting said:

If so, it could result in higher countryside prices post-Covid.

So prices outside towns will go up, while BTL city landords will be left holding the baby.

I have been assuming that city people wanting to move out of cities would have to sell up first, but of course many will be renting.

 

I dont think it works like that.

Today's couples escaping London/Little Somalia will have been renting - no equity.

Ditto, Lonfon rentals will crumble - no renters.

Banks take a hit on lending, so draw horns in.

The unravelling of io btl fuckwittery is going to see a lot of losses.

If London implodes/ distant working takes off it's unlikely the commuter towns within 50min of London will do well.

Once you are doing 2 or 3 days in the office, then a commute from Yawk or Newcastle is on the cards.

It used to train it Yawk to Wokingham. Yawk-KX was 90min. So was the 30 odd miles Wloo-Wkn.

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6 hours ago, DTMark said:

I can't believe this one ins't flying off the proverbial shelves. Who would pass up the opportunity to pay over a thousand pounds a month to experience the delight of living in Finsbury Park.

 

Some pretty eye watering reductions.Can well imagine london is ground zero with all the home working that's coming.

And that's without any unemployment which seems almost certain./

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1 hour ago, Happy Renting said:

If so, it could result in higher countryside prices post-Covid.

So prices outside towns will go up, while BTL city landords will be left holding the baby.

I have been assuming that city people wanting to move out of cities would have to sell up first, but of course many will be renting.

 

There are fewer reasons to stay in London than ever.Police/Ambulance/NHS/Schools stretched down tehre,more crime than ever.

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12 hours ago, Happy Renting said:

If so, it could result in higher countryside prices post-Covid.

So prices outside towns will go up, while BTL city landords will be left holding the baby.

I have been assuming that city people wanting to move out of cities would have to sell up first, but of course many will be renting.

 

Already happened down here.

Prices have gone mental.

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16 hours ago, DTMark said:

Indeed. It's just missing a slogan:

"Finsbury Park. It's better than Wood Green".

 

Hey, I used to live in Wood Green. It was OK. Although Finsbury Park was the inspiration for the "Island of Dr Moreau".

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I was this close to buying a SO in Wood Green opposite the tube shortly after I arrived in UK. Luckily, I was a day late with my offer. Lordy, what a ghastly place, especially around the Mall. At least in Finsbury Park you have the park itself, although if you need to go from the W3 stop through the underpass to the tube's main entrance then you'll likely see, hear and smell things you won't forget in a hurry.

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