40% In London

Bantex_2

chucky wrote: »

Please excuse the sarcasm Huge as I couldn't find a font for sarcasm.

The number of foreign buyers buying property in Stonebridge, Haringey, Hanwell and Thamesmead is really influencing prices in those areas.

But the number of foreign buyers in Clapham, Battersea etc is forcing the better off UK workers to buy in some of the areas you mention, thereby pushing up prices.

chucky

Bantex wrote: »

But the number of foreign buyers in Clapham, Battersea etc is forcing the better off UK workers to buy in some of the areas you mention, thereby pushing up prices.

Yes ok, if you really say so.

CLAPTON

did we ever establish the actual number of foreign buyers in London?

do we know how many of the foreign owned properties are left empty?

do we know how many new builds in London are directly funded from abroad?

mayonnaise

Bantex wrote: »

But the number of foreign buyers in Clapham, Battersea etc is forcing the better off UK workers to buy in some of the areas you mention, thereby pushing up prices.

We live in a global world.
You are pretty much free to buy property anywhere on the planet (yes, I know there are exceptions)
Likewise, foreigners can buy in London.
We can either close ourselves off from the world and wither, or open ourselves, attract inward investment and prosper. I know which one I prefer.

Bantex_2

mayonnaise wrote: »

We live in a global world.
You are pretty much free to buy property anywhere on the planet (yes, I know there are exceptions)
Likewise, foreigners can buy in London.
We can either close ourselves off from the world and wither, or open ourselves, attract inward investment and prosper. I know which one I prefer.

I would suggest that just buying up assets such a residential property is not a particularly healthy form inward investment when there is a housing shortage.

Investment in business and employment is another matter.

mayonnaise

Bantex wrote: »

I would suggest that just buying up assets such a residential property is not a particularly healthy form inward investment when there is a housing shortage.

Would there be no housing shortage then if foreigners were excluded from buying in London?

Bantex_2

mayonnaise wrote: »

Would there be no housing shortage then if foreigners were excluded from buying in London?

It may be improved.
I am talking purely absent investors here, not those that chose to make a home.

lostinrates

LydiaJ wrote: »

Thanks for your reply. You're probably right that many or even most owner occupiers are happy to see their homes increase in value. I was just taking exception to your "ask anybody and I mean anybody" line. I'm well aware that the way in which I came to own my house was so unusual as to make "non-typical" a huge understatement.

I was struck a year or so ago, though, at my aunt's funeral, to hear the consensus among my numerous cousins, all in their 50s and 60s, agreeing that they'd be more than happy to take a hit on the value of their own houses if it meant that their kids were able to buy homes to live in. I don't imagine they're doing much political clamouring about it, though.

I'd rather that our property remained relatively stable in value, and that people had the ability to save for homes, and Balance 'investment' in home and other types of provision for future and present needs.

I'm not sure whether we will move or not. I don't know if the 'investment' in our home is worthwhile. I know the things we are doing to it aesthetically Are NOT, they are for our pleasure while we are here, however long that is. I don't kid my selves the money I am spending on plants for the garden, for example, increases my property value. I did it because we like it better. In some respects I consider the things we have done to our property to have DEVALUED it . At least in the medium term.

I'd rather have loved in a market where less went on a home and more went into the services of making a home, or living a live tbh.

mayonnaise

Bantex wrote: »

It may be improved.
I am talking purely absent investors here, not those that chose to make a home.

I see. Are indigenous absent investors also bad, or just the foreign ones?

Seabee42

Actually if you believe there is a housing shortage and that a fairer system is desirable surely allowing anyone to own a house they do not live in is counter productive to that. NB I am not saying that the goal is desirable or achievable. Note other countries do bar non natives from buying housing and it does work.