The other census data: housing

vivatifosi

grizzly1911 wrote: »

Hasn't inner London always had a higher rented property sector/mix? How does this compare historically I wonder?

I think you're probably right there, though I didn't fancy trawling back through previous spreadsheets and doing a comparison:o.

grizzly1911 wrote: »

Perhaps the best properties were sold off and this just acknowledges what a poor state the property was in?;)

Possibly, though a lot of money has been spent on doing places up. There are still some really nice council properties in London, though if you look on Rightmove you can pick up ex LA authority properties for a snip, like £650k, nice work for the reseller!

What surprised me is how many council and housing association properties there still are: there are about 450k owned/mortgaged households in Inner London, compared to about 440k Local Authority/other social housing, about 420k private rent, so in London it's about 1/3rd each (not quite but near enough).

coastline

House prices could be 10% lower over 20 years if the Government cut net migration to zero, Mrs May, the home secretary, said.


http://www.telegraph.co.uk/news/uknews/immigration/9739590/Curbing-mass-immigration-could-bring-down-house-prices-Theresa-May-says.html

IveSeenTheLight

Domfrizby wrote: »

So this census showed that the number of people renting is going up every yr at a fast pace compared to the number of owners going down every yr. This is no surprise while price are still so high.

What is the future going to look like when housing benefit needs to be cut back its unsustaintable. The numbers of people claiming for help with their rent will be going up as unemployment keeps going up and cost of living also compared with average wages.

It is looking very likely that the number of people renting will continue to grow and put an even bigger strain onm housing benefit that has to be cut back in the next years to come. This will bound to have a lowering of average rents and with that a higher number of repossessions and lower house prices.

That's one potential outcome, however looking objectively at the situation, your describing a situation where there is increasing demand for rental properties.

Unless there is further available supply of properties, outstripping the demand, it's unlikely rents will decrease.

Alternatively, what we could see is more people sharing rental properties, distributin the cost of the rent amongst more of the inhabitants.

or

People will need to budget accordingly, pay the market rate to secure the property and cut back elsewhere in their budget.

This may not seem ideal if you are a renter, but potetnially more realistic than rents decreasing in an increasing demand environment.

IveSeenTheLight

coastline wrote: »

House prices could be 10% lower over 20 years if the Government cut net migration to zero, Mrs May, the home secretary, said.


http://www.telegraph.co.uk/news/uknews/immigration/9739590/Curbing-mass-immigration-could-bring-down-house-prices-Theresa-May-says.html

Hmmmmm, and the likelyhood of that occuring is...........

Although a manifesto pledge, IIRC, nett migration has increased under this governments tenure.

michaels

vivatifosi wrote: »

London is very different though:

Owned outright: 30.8%
Owned with a mortage: 27.1%
Shared ownership 1.3%
Social rented from local authority 13.5%
Social rented other 10.6%
Private rented private landlord or letting agency 23.7%
Private rented other 1.3%
Living rent free 1.3%.

With a total of 110% of properties falling in to the categories....

vivatifosi

michaels wrote: »

With a total of 110% of properties falling in to the categories....

Sorry, my bad, transcribed from line above. The figure for owned outright is 21.1%, not 30.8% (which is England/Wales fig). Which should give 99.9% I wish there was a way to just copy the data from Excel without it going all wibby wobbly...

ukcarper

IveSeenTheLight wrote: »

Hmmmmm, and the likelyhood of that occuring is...........

Although a manifesto pledge, IIRC, nett migration has increased under this governments tenure.

I don't think this will help

http://www.dailymail.co.uk/news/article-2224386/Fears-new-immigration-surge-Bulgarians-Romanians-Britain-borders-open.html

michaels

No need to apologise, thanks for posting this up. It makes your point better with that typo corrected.

IveSeenTheLight

ukcarper wrote: »

I don't think this will help

http://www.dailymail.co.uk/news/article-2224386/Fears-new-immigration-surge-Bulgarians-Romanians-Britain-borders-open.html

Of course it can........

You just need 30m people emmigrating

IveSeenTheLight

vivatifosi wrote: »

Ownership. Here's the percentage data:

England and Wales:
Owned outright 30.8%
Owned with mortgage or loan 32.7%
Shared ownership 0.8%
Rented from local authority 9.4%
Other social rented 8.2%
Private rented - private landlord or letting agent 15.3%
Private rented - other 1.4%
Living rent free 1.4%

When you breakdown to regional level, there's not a great deal of difference, save for the shortage of council housing in some regions in the south.

It's only when you look at London, or break down further to county or district level, that the figures really vary from the averages. London is very different though:

Owned outright: 30.8%
Owned with a mortage: 27.1%
Shared ownership 1.3%
Social rented from local authority 13.5%
Social rented other 10.6%
Private rented private landlord or letting agency 23.7%
Private rented other 1.3%
Living rent free 1.3%
These figures are even more distinct when Inner London only looked at, eg owned outright 14.1%, owned with a mortgage 19.4%. Tyne and Wear is the only region that has a higher level of council housing than Inner London, which was quite surprising given that we are told that all the best properties were sold under the Tories.

ETA: figure for owned outright London should be 21.1%, not 30.8%. Please see michaels post below.

You need to look at England and Wales excluding London.
Simplistically, this would mean outside London, less than 15.3% of properties are privately rented through a private landlord or agent.