Why are house prices so expensive in the south east

matt10001

I am just wondering why house prices are so expensive in the south east compared to properties up north? Will house prices increase in the north to the same level as the south east?

System

Because more people want to live in the south east.

Jack_Johnson_the_acorn

matt10001 wrote: »

I am just wondering why house prices are so expensive in the south east compared to properties up north? Will house prices increase in the north to the same level as the south east?

Demand.

Why do you think its more expensive?

padington

Ever needed some decent entertainment in Grimsby on a Monday night?

stator

Because the government prevents housing being built in the south east by designating it all "Green Belt" land. This distorts the market

cells

A good reason often missed is that in London in the expensive places the homes are a lot bigger and often a lot nicer.

So if you look at the average terrace price in Luton it might be £225k while the average in Hackney might be £1 million. However the two are not comparable as the average terrace in Luton is a crap 55sqm two up two down while the one in hackney is a 150sqm 4 bed large room good sized garden £30k kitchen £20k bathroom terrace. So you are not comparing like with like.


The main reason why London and to a lessor extent the SE is expensive is to limit the number of people who migrate internally to those regions. If London was a similar price to Birmingham we would have London growing at +300k people per year rather than +100k people per year

CLAPTON

cells wrote: »

The main reason why London and to a lessor extent the SE is expensive is to limit the number of people who migrate internally to those regions. If London was a similar price to Birmingham we would have London growing at +300k people per year rather than +100k people per year

what a load of economic illiterate nonsense. Do try to understand cause and effect.

London is 40 % foreign born which is the major reason London is so expensive and why native born people can't afford to live there, and can't to live in a family sized property.

Angry_Bear

cells wrote: »

So if you look at the average terrace price in Luton it might be £225k while the average in Hackney might be £1 million.

I hate to break it to you, but comparing Luton to Hackney is NOT comparing London to the North. :rotfl:

Malthusian

Angry_Bear wrote: »

I hate to break it to you, but comparing Luton to Hackney is NOT comparing London to the North. :rotfl:

No, to a Londoner comparing London to the North is comparing Hackney to Watford. Comparing Hackney to Luton is comparing London to Greenland or the North Pole

(it's funny 'cos Londoners is multicultural citizens of the world innit)

cells

CLAPTON wrote: »

what a load of economic illiterate nonsense. Do try to understand cause and effect.

Prices can front run events

London is 40 % foreign born which is the major reason London is so expensive and why native born people can't afford to live there, and can't to live in a family sized property.

Australia is expensive becuase its 99% foreign or their children. Maybe they should send them back. What would happen to England prices then?

85% of the UK population can't live in London irrespective of migration

cells

Angry_Bear wrote: »

I hate to break it to you, but comparing Luton to Hackney is NOT comparing London to the North. :rotfl:

Sure but the point I was making is that averages are not comparable. The average terrace in Luton is a two up two down crap terrace the average terrace in Hackney is 2-3x the size and has internal world that cost as much as the Luton terrace. So its bit as straightforward as £225k v £1m its more like you need three terraces in Luton to equal to quality and size of the one terrace in hackney so more like £675k vs £1m

The point was clearly not that Luton is the north but that the average terrace in one place can be completely different from the average terrace in another. In this isntence the average in Hackney is 3x as good/big