London house prices continuing to fall, says Rics

westernpromise

MARTYM8` wrote: »

On paper of course - my parents house in London is now worth 80 times what they paid for it. But it makes little difference to their daily life - cos its all on paper.

They have no intention of moving so will only realise that during their life time if and when the council comes knocking for care home fees. That is of course the reality for most people - an asset on paper which they will never realise while alive as they only have one property and they will always need somewhere to live!

Perhaps what might be more of a concern for people like them is the inability/difficulty their kids or grandkids have in being able to afford a house in the same area so they can see them regularly. Cos most people care a lot more about their kids and grandkids future - than their house price.

Not of course that that seems to apply to certain very self centred posters on here!

It's the kids and grandkids who bid the houses up by a factor of 80 in the first place!

Conrad

cells wrote: »

It isn't possible for renters to convert to owners in any large portion while there is a shortage of new builds.

With a net 25000 new souls arriving in Britain each month I cannot see an practicable level of building soaking up demand and keep in mind the fact that shiny new resources like new homes act as an even greater pull on migrants.


Without proper points based border control, your building expansion will be a drop in the ocean.


Anyway is there not more to the Human journey than relentless expansion? Do other concepts such as having the green lung on Londons doorstep matter not? You could build 200,000 new homes around Oxford but you just increase congestion and all the other downside effects. I shudder at what we're doing.

Conrad

westernpromise wrote: »

It's the kids and grandkids who bid the houses up by a factor of 80 in the first place!

And the same that will likely inherit this wealth, not something older generations had on this scale, swings and roundabouts.

cells

Conrad wrote: »

With a net 25000 new souls arriving in Britain each month I cannot see an practicable level of building soaking up demand and keep in mind the fact that shiny new resources like new homes act as an even greater pull on migrants.


Without proper points based border control, your building expansion will be a drop in the ocean.


Anyway is there not more to the Human journey than relentless expansion? Do other concepts such as having the green lung on Londons doorstep matter not? You could build 200,000 new homes around Oxford but you just increase congestion and all the other downside effects. I shudder at what we're doing.

population control if you want it should be done as population control and not via limiting housing

also as i keep noting its not more people that need more homes, its the need for smaller household sizes


eg between 1974 to 1980 the UK population was flat at 56.2 million yet in those 6 years more than 1.5 million new homes were built in the UK. those homes did not sit empty and were not a waste. they were needed to allow for smaller household sizes.

Its not as basic as, new homes needed to meet additional population growth. New homes are needed in the UK even if population was FLAT just like new homes were needed and built between 1974 and 1980 when the UK population was FLAT

cells

Conrad wrote: »

With a net 25000 new souls arriving in Britain each month I cannot see an practicable level of building soaking up demand and keep in mind the fact that shiny new resources like new homes act as an even greater pull on migrants.
.

Do you really think many migrants look up the price of homes when they decide to leave everything behind and make a journey to the UK

I doubt if a single person moving from a third world country thought to themselves......hummm those homes are pricey maybe I should stay in my mud hut and die from a toe infection instead



Also there is no reason why the UK could not match France who builds close to 400k homes a year.