House Waiting Lists between 10 and 33 YEARS

ruggedtoast

HAMISH_MCTAVISH wrote: »

And don't you think they would pay less if they could? The only thing that drives up price is competition between buyers. Surely not even you believe that people walk around saying, "well, I know that house is only 400K, but I'll just pay them 600K for the hell of it".



And why is that? Do banks in Kent have different lending standards than banks in London?




Because the seats at the front offer a better view but are limited in supply. If the theatre only had one row of seats all prices would be the same. And in fact far higher than the existing prices.

Of course supply and demand affects prices.

If MSE board space were real estate you'd find McTavish threads were in a deflationary spiral, for example. Whereas those next door were asset rich.

Fancy.

chucky

Emy1501 wrote: »

Whats the average wage for someone working in Central London? Maybe 60-70K? The wealthy mainly foreigner by up the best properties that leaves the well paid workers buying up the less desirable properties.

Whats the average wage in many parts of the North maybe 15K at best? These areas do not have wealthy people and therefore prices are lower.

There is no doubt there is a suppy and demand argument for certain areas of the country but credit has been a massive factor.

Just look and Manchester and Birmingham. Easy credit conned many into investing into investment groups etc. This allowed prices to rocket in the area. Once the credit was withdrawn no one wanted to buy or rent in these areas. Just a year or 2 before of course there was a massive supply and demand issue in these areas.

no, a very nice response but that's a very different point to the one i answered

average salary for London is Median = £34k and Mean £49k
http://www.statistics.gov.uk/downloads/theme_labour/ASHE-2009/tab7_7a.xls

and as for people not wanting to buy or rent in London have a look at the area that is driving the current rises in the house price indexes.

HAMISH_MCTAVISH

Emy1501 wrote: »

The wealthy mainly foreigner by up the best properties that leaves the well paid workers buying up the less desirable properties.

.

Are wealthy foreigners confined to London?

What about the other areas where large differences exist?

Pretty sure theres lots of areas where similar houses cost 3 to 5 times more than in others, but the average wage is not 3 to 5 times as high.

chucky

Emy1501 wrote: »

Many people living in a 450K house in Kent work in London?

yes they do and they live in Essex, Herts and Surrey to name a few.

Emy1501 wrote: »

Not the last time I watched LLL on the area.

you watch a manufactured TV programme and you are now an expert on a whole county and different property types in the UK - i've heard it all on this forum now :rotfl:

the_ash_and_the_oak

HAMISH_MCTAVISH wrote: »

Would you be happier if we used plots of land instead?

Pretty sure the mud in one is similar to the mud in the other.

I think if we're going to compare '2 almost identical houses' I would rather we compared... '2 almost identical houses' - where (other than geography you couldn't really decide which one you prefer)

otherwise why not compare 2 3bed houses in the same town?

PasturesNew

Where I grew up, the waiting list for a single person would have been well over 20 years ... but by the time that amount of time had passed it'd have been more time.

In fact, when I'd been on the list 12 years I phoned them up and they said maybe in another 15 years they could get me a room in a shared house.

Social housing for me has never been an option.

ruggedtoast

Is there much point going over this again. We had all this in the supply and demand thread a while back. It seems the same people who didnt understand it then still dont understand it now.

HAMISH_MCTAVISH

chucky wrote: »

average salary for London is Median = £34k and Mean £49k
.

Interesting.

That certainly does not explain the house price difference.

A nice one bed flat in a medium (not the best, not the worst) part of Aberdeen can be had for 80K. Just 35 miles away, a one bed can be had for 50K

And yet a nice one bed flat in london can cost 250K or more.

I know for a fact London wages are not 3 to 5 times higher than Aberdeen wages.

Emy1501

chucky wrote: »

yes they do and they live in Essex, Herts and Surrey to name a few.


you watch a manufactured TV programme and you are now an expert on a whole county and different property types in the UK - i've heard it all on this forum now :rotfl:

Are you not able to debate without trying belittle people? I simply asked a question regarding prices on the outskirts of Glasgow I never said I was an expert on the areas.

I responding to Hamish theres therefore no need for you to answer thank you. Especially when you have not answered the question.

ruggedtoast

Aberdeen is paved with gold its true.

Perhaps the difference might be...

the amount the banks will lend based on the surveyors valuation of the property!!!!!!!

HOW

MaNY
mORe
tiMeS?

I cant take much more of this.