London new builds number?

ukcarper

BigMac400 wrote: »

More likely prices will tumble, especially when the new high speed trains are running. Why pay such high prices when the gap is so huge to buy a cheaper house far outside London, and still be able to commute in an hour or so for that high wage job in London.

I would have thought a lot would depend on the cost of that commute . There are plenty of places within a hour of London where property prices are not to bad but yearly season tickets are about £4k.

MercilessKiller

Hi Everyone

While I haven't seen physical numbers, as someone who has been house hunting in London for 2 years, I can state that I have seen a HUGE increase in number of new builds going up!

Help to buy has made a big difference, more so in London than anywhere else by the looks of things!

In the past 6 months, there have been a lot of developments that are now starting to take reservations, and a lot more developments advertising that they will be taking reservations in the next year.

When Help to Buy came in, it was always going to take a while for builders to get the buildings up, but it is happening without a doubt. Supply was a problem, but seems to be going the right way now.

Just reserved a property in a new development in Croydon with Help to Buy - Exciting times.

ukcarper

MercilessKiller wrote: »

Hi Everyone

While I haven't seen physical numbers, as someone who has been house hunting in London for 2 years, I can state that I have seen a HUGE increase in number of new builds going up!

Help to buy has made a big difference, more so in London than anywhere else by the looks of things!

In the past 6 months, there have been a lot of developments that are now starting to take reservations, and a lot more developments advertising that they will be taking reservations in the next year.

When Help to Buy came in, it was always going to take a while for builders to get the buildings up, but it is happening without a doubt. Supply was a problem, but seems to be going the right way now.

Just reserved a property in a new development in Croydon with Help to Buy - Exciting times.

The vast majority of help to buy take up has been outside London.

MercilessKiller

That actually surprises me a bit! But there we go..

ukcarper

MercilessKiller wrote: »

That actually surprises me a bit! But there we go..

The last figure I saw showed that 95% were outside London I'm not sure what effect the maximum price of £600k has.

antrobus

CLAPTON wrote: »

it would probably be better if you read my posts in the context of the situation

e.g. I wrote

just as a hint, I don't really believe that Germany, Austria etc are actually generally acknowledged as 'very poor EU countries'.

I was quite aware of the context of your post and that fact that you reference to "very poor EU countries" meant that you were trying to make a joke.

However given that Poland has a much higher proportion of owner occupation than the UK, it wasn't a very good joke.

Sorry about that. I'm sure you'll do better next time.:)

NorthFin

ukcarper wrote: »

The vast majority of help to buy take up has been outside London.

If this is true what does it say about the broken housing market?

That even a 5% deposite is out of reach for average people in London.

ukcarper

NorthFin wrote: »

If this is true what does it say about the broken housing market?

That even a 5% deposite is out of reach for average people in London.

It says that there is a housing shortage in London.

NorthFin

ukcarper wrote: »

It says that there is a housing shortage in London.

What does that matter if property prices have no relation to average earnings anymore.

There is a housing shortage in a refugee camp but it matters not if nobody has any funds to buy.

As I sid the broken housing market.

ukcarper

NorthFin wrote: »

What does that matter if property prices have no relation to average earnings anymore.

There is a housing shortage in a refugee camp but it matters not if nobody has any funds to buy.

As I sid the broken housing market.

People are buying those houses though the fewer available houses the richer you need to be to buy.

Prices in parts of the country where demand is not so high are affordable.

It's no good comparing prices to the 90s because property was as exceptional cheap then as they are high now. I couldn't afford to buy in London in the 70s just as I couldn't now.