When will London burst ?

Sabrina2000

chiefie wrote: »

For you economics experts out there . How can house prices continue to rise whilst the service economy depends upon continued low wage employment ? And whilst key public sector workers aren't paid enough to buy or rent somewhere ? how does this work and where is it all going ?

Either 1 - Housing benefit will keep going up pushing up and holding up rents, or

2 - Housing benefit is cut and rents fall, or low paid workers simply cant afford to live in London and have to move out, which would in turn lower prices until they could all move back.

Mallotum_X

ringo_24601 wrote: »

I suspect I'm up the road from you Once you get past Borehamwood it all gets much leafier!

BTW, I believe there are plans to extend the use of oyster cards well beyond zone 6, possibly up to Luton airport

Looking like it will be beyond Luton Airport.

Leagrave Station - 2 up from the airport - has had the touch in/out things added in the last few weeks, currently with large stickers over them that they are not in use.

paparossco

TheBlueHorse wrote: »

where is south herts - I am there and it is in zone 6!

What is they say? "Home is where the herts is......."

[Deleted User]

Mallotum_X wrote: »

Looking like it will be beyond Luton Airport.

Leagrave Station - 2 up from the airport - has had the touch in/out things added in the last few weeks, currently with large stickers over them that they are not in use.

Everywhere is going con tactless! http://en.wikipedia.org/wiki/Contactless_smartcards_on_the_railways_of_Great_Britain

I'll be glad when Radlett gets it

caronoel

ringo_24601 wrote: »

Hello from South Hertfordshire! We moved out from zone 6 because it has started to get more and more 'zone 2-3ish'. We expect that at some point we'll get absorbed into a much larger greater London, one stretching all the way to the M25.

BUT.. house prices have gone up akin to London. House prices are up about 30-35% since we moved here 3 1/2 years ago

The prices now are touching £400k for a moderate family home. I know that's 'cheap' by London standards but not by mine!

The price boom extends well beyond London to anything that is a bit leafier and has good access to the city.

I bought in Harpenden, just up the way from you, in early 2009 and sold in January for 50% more than I paid!!!!

:beer::beer:

If I had listened to some of the doomsters on here, there is no way I could now afford the place we have moved to.

caronoel

On a seperate note, I think London will burst at quarter past six.

Carl31

Maybe home ownership is becoming a thing of the past, going back to pre 1950s britain. Maybe the ownership of post war to recent years was just a post war phase that has now ended

Should be interesting in a few years when everyone reaches retirement with no house

chucknorris

Carl31 wrote: »

Should be interesting in a few years when everyone reaches retirement with no house

Also far less people are on final salary pension schemes, people need to wake up and realise that if they don't plan ahead, they are doomed for a miserable experience later in life. I think a lot of people are sleep walking into financial disaster in retirement.

sebadee

I really don't know, but if it does go it will stoke itself further down. London is heavily investor based and investors will all try to bail as soon as it starts to look bad, causing a snow ball. Its very different in an owner-occupier market. OO's will ride out house prices, as their house is primarily a home and they have an emotional attachment to the place, unlike an asset (their kids were born there, go to school nearby, family / friends live close by). OO's will tough out all sorts of horribleness such as sky high interest rates, negative equity and the like.

Investors will look to cut out as soon as they can which could cause things to escalate even more.

Carl31

chucknorris wrote: »

Also far less people are on final salary pension schemes, people need to wake up and realise that if they don't plan ahead, they are doomed for a miserable experience later in life. I think a lot of people are sleep walking into financial disaster in retirement.

Salaries in this country dont strecth as far as buying houses, saving for pensions, as well as trying to live and pay taxes for many, fast becoming most in the under 40s