Londons a-changin

theEnd

I'm not sure I agree with the stats. Everywhere you look in London they've build loads in the last 10 years.

Rents have hardly moved in nominal terms, must be well down in real terms. Something doesn't add up.

cells

theEnd wrote: »

I'm not sure I agree with the stats. Everywhere you look in London they've build loads in the last 10 years.

Rents have hardly moved in nominal terms, must be well down in real terms. Something doesn't add up.

The data is availible from the ONS

Over 2003-2012 London saw 155k new homes which is "loads" if you look at them but it is in fact far too few when you consider the population went up by a million people during that same time.

Importantly the mayor seems to think london will build an average 47k homes over the next 20 years that seems very far fetched seeing as the very best year over the last 10 years was only 18k new homes

BTW if London built at the same PER CAPITA rate as France she would have built 510k homes over the last decade not 155k so that is a huge difference

cells

theEnd wrote: »

I'm not sure I agree with the stats. Everywhere you look in London they've build loads in the last 10 years.

Rents have hardly moved in nominal terms, must be well down in real terms. Something doesn't add up.

also there is a lot of variation between places in London eg for 2012-2013

Tower Hamlets built 1630 homes
Barnet Built 1720 homes
Hackney 1170 homes

Kensington & Chelsea 150
Hammersmith and fulham 110

So it depends on the area, some places built 10x as much as others. Overall London has been building around 150-200k homes per decade for the last four decades.

The important fact though is that the population variation is completely different so its something like

1970s built ~175k homes - population fell 800k
1980s built ~175k homes - population incrased 280k
1990s built ~175k homes - population increased 280k
2000s built ~175k homes - population increased 1,000k

The build rate has not varied all that much although in the 2000s londons population boomed. London should have built about 500k homes during the 2000s but instead it built around 175k homes and the result was far more expensive homes.

Going foward if london builds only ~175k homes in the 2010s as is most likely it will see massive HPI again becuase it needs 500k extra homes in the 2010s

AndyGuil

It depends on the size of those areas too. Barnet borough is the biggest and it has a reasonable amount of space towards the outside too.