France overtakes UK in homeownership

cells

antrobus wrote: »

Only by the ignorant. France is not Germany, and never has been.



I think you mean metropolitan France, as in France excluding its overseas possessions. 'Mainland' doesn't make any sense; we don't exclude the people living in Anglesey and the Isle of Wight from UK population stats.:)

Of course, France is indeed very keen on spending government money on building lots of homes. On the other hand, it hasn't quite had the effect you imagine.

French housing is now some of the most expensive in Europe, just behind the UK. In 2015, a 70m2 flat would cost you around 7.9 times the average wage. In the UK, it's 8.5.

And,

In other words, simply building more homes is an overly simplistic response to a complicated problem. For one thing, the state hasn't been building in the right places.

In France, housing policies are creating vast numbers of empty cities
http://www.citymetric.com/politics/france-housing-policies-are-creating-vast-numbers-empty-cities-799

Yes metropolitan.

I accept there are more empty homes in France but I don't accept that prices vs wages are similar

I have just checked insee and it shows the ill-de-paris region (equivalent to greater London?) average house price as as 288.1k euros. By comparison greater London prices are 705k euros at today's exchange rate. That is a huge difference 288k vs 705k

It also shows Paris (the bit that's 2 million populations maybe equivlant to our inner London z1-z2 areas) as 8.7k euro per sqm. Inner London is by my land reg and size of homes estimate closer to 13k euro per sqm

So French homes are a lot cheaper whereas wages are very similar (at current exchange rates)

cells

Île-de-France : 12 million people : Average house price 288k euro

Greater London : 8.5 million people : Average house price 705k euro

antrobus

cells wrote: »

Île-de-France : 12 million people : Average house price 288k euro

Greater London : 8.5 million people : Average house price 705k euro

The comparison being made in that article was between a country called the UK and another one called France, and not between one small part of either country.

For what it's worth, the OECD's assessment of house prices conducted last year, concluded that France was slighly more overvalued than the UK.

http://www.telegraph.co.uk/finance/property/house-prices/10827469/House-prices-countries-with-the-cheapest-and-most-expensive-property-markets.html

martinsurrey

antrobus wrote: »

The comparison being made in that article was between a country called the UK and another one called France, and not between one small part of either country.

For what it's worth, the OECD's assessment of house prices conducted last year, concluded that France was slighly more overvalued than the UK.

http://www.telegraph.co.uk/finance/property/house-prices/10827469/House-prices-countries-with-the-cheapest-and-most-expensive-property-markets.html

the article is rubbish (the first one), I'd like to see where they got their "facts" from!

average 70sqm flat in the UK 8.5 X average earnings?

thats a 2 bed flat in the Uk at an average of £221k

pull the other one.

and the last article is comparing against the long run averages in the country, so France may be only slightly overvalued against its historic average, however that historic average is much lower than the UK's, meaning its still much cheaper.

cells

antrobus wrote: »

The comparison being made in that article was between a country called the UK and another one called France, and not between one small part of either country.

For what it's worth, the OECD's assessment of house prices conducted last year, concluded that France was slighly more overvalued than the UK.

http://www.telegraph.co.uk/finance/property/house-prices/10827469/House-prices-countries-with-the-cheapest-and-most-expensive-property-markets.html

Île-de-France is not a small region it is 20% of the population and the most expensive region of France.

Île-de-France average price is £205k

London £500k
South east £257k
East £211k

Those three region of England with approx 25 million people are all more expensive than THE MOST expensive region of France! And south west england is £194k so within 5% of the most expensive region of France

And that's before you take into account that the average house in France is about 15sqm larger

So definitely its BS to say France is just as overvalued as England when the most expensive region in France is cheaper than London region cheaper than the south east and cheaper than the south west (and within 12 months likely cheaper than the south west too)

stator

The last 5 Thatcherite governments are to blame. Not enough houses built.

antrobus

cells wrote: »

...So definitely its BS to say France is just as overvalued as England when the most expensive region in France is cheaper than London region cheaper than the south east and cheaper than the south west (and within 12 months likely cheaper than the south west too)

The OECD says otherwise.

Which leaves me in somewhat of a quandry. Whom do I believe? A prestigous intergovermental organisation, or some guy off the internet with a track record of making stuff up?

That's a tough one.

cells

antrobus wrote: »

The OECD says otherwise.

Which leaves me in somewhat of a quandry. Whom do I believe? A prestigous intergovermental organisation, or some guy off the internet with a track record of making stuff up?

That's a tough one.

don't trash another thread with your insults and worthless posts

uk house price data is available via the land registry broken down by region and for france via insee/notaires

cells

martinsurrey wrote: »

the article is rubbish (the first one), I'd like to see where they got their "facts" from!

average 70sqm flat in the UK 8.5 X average earnings?

thats a 2 bed flat in the Uk at an average of £221k

pull the other one.

and the last article is comparing against the long run averages in the country, so France may be only slightly overvalued against its historic average, however that historic average is much lower than the UK's, meaning its still much cheaper.

ignore that guy I feel he is my sad internet stalker tries to find and post opposite of what i post. Clearly France is more affordable than England. France and England are similar GDP/capita

Average for Ile-de-France (equivalent to our greater London) for existing apartments is £205k whereas London average home is now £500k

Average for existing houses outside Ile-de-France is shown as 157k Euro (~£111k) and for existing apartments outside Ile-de-France is stated as 2270 EURO/M2 which = ~£121k for a 75sqm apartment. By comparison excluding London the England&wales average is ~£142k


therefore London is ~140% more expensive than Ile-de-France and outside London is ~20% more expensive than outside Ile-de-France

And again this does not even take into account that the average house in England is smaller than the Average house in France. So if you sell your average £142k house outside of London and go buy the average house outside of Ile-de-France for £111k you pocket £31k but you also get a bigger house

ukcarper

Do you know the methods that the two organisations you quote are the same.