Build 50k Houses in London Plus.....

cells

kabayiri wrote: »

Something puzzles me.

The article mentions "finance" as being an issue.

How can this be?

If you can't make profit from new build in London then where the heck can you make profit?

How many shops are under utilised in London, which could be turned back into residential units? That doesn't strike me as an expensive exercise.

Is it really just NIMBYism holding London housing development back?

Is it more important to have that Organic Tea bar on the high street, rather than another dwelling for workers earning moderate incomes?

London is simply expensive to build in because a lot of the building is only possible if you buy up a whole street or groups of streets knock them down and build at twice the density.

Thats very complicated costs a lot of money and is quite unpopular with the existing community (and the future community has no say as they dont yet exist)

its so difficult and complex that it only really happens on council estates where the freeholder is one entity. try it on an area where there are 500 title holders and get them all to agree and .... well it aint gona happen


there are some possible radical solutions, used a bit after WW2 and that's to give up some park spaces and build v.high density flats on said land.

Another would be to abandon parking standards inside say the A406 which would allow much higher density and viability (this might be possible if self drive cars arrive)


in short inner London new builds will be expensive there is no way around it

Mistermeaner

shanty towns

michaels

wotsthat wrote: »

If that's the case, as someone with a rent seeking habit so deeply ingrained it's adjusted your genetic coding, I can only assume you live so far North that Santa is your next door neighbour.

Luckily despite my many failings in almost all other areas I retain a sense of humour

Generali

kabayiri wrote: »

Something puzzles me.

The article mentions "finance" as being an issue.

How can this be?

If you can't make profit from new build in London then where the heck can you make profit?

How many shops are under utilised in London, which could be turned back into residential units? That doesn't strike me as an expensive exercise.

Is it really just NIMBYism holding London housing development back?

Is it more important to have that Organic Tea bar on the high street, rather than another dwelling for workers earning moderate incomes?

It's not about making a profit it's about getting finance to bridge the gap between buying the land and selling the house/flat.

kabayiri

Generali wrote: »

It's not about making a profit it's about getting finance to bridge the gap between buying the land and selling the house/flat.

We found the finance to bridge the gap between a bad bank becoming a good bank (well, in theory).

I can understand why a place like Rochdale can't find money to transform some of the housing areas, because...well it ain't got any money. London on the other hand? I thought there would be so much potential wealth tied up in modest potential living units (not even a full blown flat).

wotsthat

Generali wrote: »

It's not about making a profit it's about getting finance to bridge the gap between buying the land and selling the house/flat.

Do finance types see this sort of finance as not very sexy and a bit old fashioned?

Odd that the big winners in London property seem to be normal people with the odd BTL or three.

the_flying_pig

London & SouthEast homebuilding should be focused somewhere say about halfway down whichever of the main railway lines is the least congested during the peak hour.


I'd very much prefer that most of it wasn't 'round my way'.


Much of London is overcrowded already, and new housing of course in an area partly of course just reduces crowding, it'll also tend to attract at least some people from other areas.


Where I live in Balham/Tooting/Wandsworth is fairly horrendously crowded already. Of the many thousands of roads in the UK, three of the top ten busiest are in my neighbourhood, & the little stretch of northern line tube between Tooting & Stockwell is the busiest on the entire network during the peak.

cells

the_flying_pig wrote: »

London & SouthEast home-building should be focused somewhere say about halfway down whichever of the main railway lines is the least congested during the peak hour.

People don't want to spend £5k a year crammed onto a train for an hour each way. Better to put a benefit cap in place and sell off almost all the council/HA stock in inner London so those pensioners and unemployed who dont need to be within walking distance of the city of London can go live further out in London or elsewhere

the_flying_pig wrote: »

Much of London is overcrowded already,

Vehicles are a problem maybe the long term future of London is for a larger congestion charge zone thats a lot more expensive. Make inner London developments require no car parking infrastructure or roads which will allow a much greater density of building. Those who can function without a car can live in those flats.

AG47

The question is will prices still defy gravity if all this new supply is added?

CLAPTON

AG47 wrote: »

The question is will prices still defy gravity if all this new supply is added?

depends upon the demand