Why should there be more homes built in your borough?

Fulham_Mark

A what's happening in your area type thing....who lives in the worst place for getting a house? here's hammersmith and Fulham. I'm sure people will have much worse stats.

*** the house prices:
Average house price 2006 £405,000
House price inflation 2006: highest in England 15.1%
55% of properties are rented

*** the poverty:
% households earning under £20,000 = 51%
% households earning over £60,000 = 20%
- there's not much in the middle!
Percentage on low incomes = 27% (uk average = 18%)
Deprivation index = 42nd out of 345 boroughs
but unemployment = 3%

*** the affordability:
"key worker" would have to spend 74% of their salary on a mortgage to buy new home.
Solicitors, judges, coroners would have to spend 43% of their salary

*** What's being done:
82% of all new housing developed in the borough in last 5 years was affordable. Still have 2,000 registered homeless and number of people on housing waiting list has increased 200% over last year (partly due to publicity of this list.)
The council is getting a large allocation of new developments in east london so that people can move there instead!

and there's nowhere left to build and all 180,000 people live on a floodplain

ixwood

House prices aren't related to a shortage of houses. We're all living somewhere aren't we? The only supply and demand involved is the supply of money and demand of greedy people bidding ever (well..) higher againist each other.

All this our kids ar never going to be able afford anything buisness is crap. These things move in cycles with interest rates as they always have. It's just been a longer cycle than anticipated this time.