Rant - London rent prices...

[Rroff]

Rental prices are just simple supply demand? Not a bubble? Also I'm not entirely sure the housing market is in a bubble like it was in the early /mid naughties.

Back to OP; where do you go to Uni? If you don't have to go into zone 1 yiu can save a lot on travel fare. Will have to drop the dream of 4 bed house in London though... You're a student! Once you get a six figure salary you can perhaps revisit it.

No I agree, I poorly worded my point of view. In very basic terms there isn't a housing market bubble, IMO, therefore rental prices can't be in a bubble.

Still poorly argued. Basically current rental rates aren't going anywhere soon.

Problem is with the housing market ultimately someone needs a place to live so it doesn't get the reset/quite the same supply and demand influences as many other commodities.

Something is gonna have to give eventually though - around here its rapidly out pacing wages.

 

[Ilikeitblackplease]

The reason why you are paying more is the uncontrolled immigration in this country along with influx of blood money into London properties and foreign investment into property market. the Government could do something about it like refuse non British citizens the right to ownership, if they wanted to own they would have to do it 50/50 with a British citizen etc.. like so many other countries.

 

[Rikk82]

Nothing will change unless:-
A) More houses are built every year
B) People stop using houses as investment vehicles.

 

[Terminal_Boy]

Don't forget that Housing Benefits are artificially inflating rent prices as successive governments continue to pay people to live in houses and areas they can't afford to live in.

 

[Caged]

The reason why you are paying more is the uncontrolled immigration in this country along with influx of blood money into London properties and foreign investment into property market. the Government could do something about it like refuse non British citizens the right to ownership, if they wanted to own they would have to do it 50/50 with a British citizen etc.. like so many other countries.

Haha full crazy has happened. The immigration post is like OcUK's very own Godwin's Law.

 

[dowie]

I recon mooring costs would make house prices seem dirt cheap!

depends, as a temporary crash pad you wouldn't necessarily need a residential mooring - though will certainly cost a few grand a year AFAIK

for living on full time however I think you'd be looking at a grand a month if you could find one available even

people doing it as a budget option don't tend to have an official mooring in London but instead have to move their boat every 2 weeks on a continuous cruising license and/or get a temporary winter mooring for part of the year

 

[balky12]

Problem is with the housing market ultimately someone needs a place to live so it doesn't get the reset/quite the same supply and demand influences as many other commodities.

Something is gonna have to give eventually though - around here its rapidly out pacing wages.

Tell me about it. I live in the south-east. London/ Essex. Looking to move into first house ATM. 3 bed end terrace or semi detached (to remove the need to move again any time soon and the associated frictional costs), so no room is particularly big, with an ok garden; 300k-350k. It's obviously do-able but when you look at what you can get for your money elsewhere it does make you sick.

The again it's the price you pay having to commute into London for work. To echo others views, I can move further away but then journey times and travel costs just ruin it. Door to door (including walk to station) is an hour. I can live with that.

 

[Scam]

Don't forget that Housing Benefits are artificially inflating rent prices as successive governments continue to pay people to live in houses and areas they can't afford to live in.

This. People sitting pretty in their mortgaged houses don't seem to care that property prices are still rising to unobtainable levels, thinking that it benefits them. What they forget is that they too pay a huge amount of tax to prop up this false market through housing benefits. And most of that goes into private landlord's pockets.

I'm liking this, I think its the start of the end for the BTL scum: http://www.telegraph.co.uk/finance/...-landlords-wake-up-to-Osbornes-150pc-tax.html

 

[Caged]

The tax increase, on which there was no consultation

Call the whambulance

 

[Ilikeitblackplease]

Don't forget that Housing Benefits are artificially inflating rent prices as successive governments continue to pay people to live in houses and areas they can't afford to live in.

Thats a lie, HB have no affect on house prices or rents, as they are lower than the than the average rents in each area.

Its government propaganda to get behind cutting back in certain areas of UK spending, havent you notice they come out with crap lies distorted truths then 6 months later they create policies, its what this government have been doing for 6 years now.
I found it amusing that they were talking about benefits cuts etc... everyone on mums net agreed then when the government introduced child benefit cuts they were all up in arms.
The newspapers are there to reinforce and help to make any future policies more agreeable. they will use the immigration arguments to create new policies on cut backs etc... infact tax credit argument was given the go ahead because of immigration, but they still allow for immigration but have opted to cut tax credits instead.

 

[dowie]

Thats a lie, HB have no affect on house prices or rents, as they are lower than the than the average rents in each area.

that isn't a reason for it to have no effect

 

[Scam]

Total nonsense. The benefit cap is £500 week, that's over £2000/month which is way more than the average rent in most places. And it was uncapped before that.

 

[Roar87]

Just bought a large 3 bed terrace with a cellar, garden, shed, etc for £120k. Live near Leeds and the area isn't bad at all. No idea why anyone would live in London who isn't a millionaire

 

[Ilikeitblackplease]

This. People sitting pretty in their mortgaged houses don't seem to care that property prices are still rising to unobtainable levels, thinking that it benefits them. What they forget is that they too pay a huge amount of tax to prop up this false market through housing benefits. And most of that goes into private landlord's pockets.

I'm liking this, I think its the start of the end for the BTL scum: http://www.telegraph.co.uk/finance/...-landlords-wake-up-to-Osbornes-150pc-tax.html

Rubbish about housing benefits, if your under 35 you can only get the rent paid for shared accommodation, under 25 you don't get housing benefit.
The whole HB argument has been around since 2007 and they have been reducing the amount a claimant gets ever since by shifting to lower quartiles averages yet rents have still gone up.

The problem is house building and immigration, stop immigration, kick those out that have arrived after 2001, stop investment into private property and everything will normalise.

 

[arknor]

I bet loads of houses in london aren't occupied for most the year when you consider foreign investments in brick and mortar

 

[DAIR]

What a coincidence... Me coming across this thread.

I'm currently looking in London. As I'm thinking about leaving Watford. But the Rent Figure to Space ratio is crazy.

 

[Ilikeitblackplease]

Total nonsense. The benefit cap is £500 week, that's over £2000/month which is way more than the average rent in most places. And it was uncapped before that.

On what is the benefit cap £500, the benefit cap of £500 is the total it included s welfare payment etc... then you have the local allowance rate, with states the max they would pay out for rent, and it does not cover 70% of total rental for that area.

Benefits which are included in the cap

The cap will apply to your combined income from:

Bereavement Allowance
Carer's Allowance
Child Benefit
Child Tax Credit
Employment and Support Allowance - except where it's paid with the support component
Guardian's Allowance
Housing Benefit - although there are some exceptions
Incapacity Benefit
Income support
Jobseeker's Allowance
Maternity Allowance
Severe Disablement Allowance
Widowed Parent's Allowance
Widowed Mother's Allowance
Widow's Pension.

 

[DAIR]

lol. Good luck finding even a single room for 1k.

http://www.zoopla.co.uk/to-rent/det...5738e6f5f60ae6a8d275a2119#i03heAxHXZ7lFRvg.97

Bag that. Nice area too

 

[balky12]

Just bought a large 3 bed terrace with a cellar, garden, shed, etc for £120k. Live near Leeds and the area isn't bad at all. No idea why anyone would live in London who isn't a millionaire

Salaries in London are attractive. So is the social side of things. Depends what a person wants from life I guess!

Some people are just born there to. Big jump moving away from friends and family just to save a bit of money on your mortgage!

 

[DAIR]

Salaries in London are attractive. So is the social side of things. Depends what a person wants from life I guess!

Some people are just born there to. Big jump moving away from friends and family just to save a bit of money on your mortgage!

Was born and bread in Tottenham. Personally I wanted to move somewhere more laid back. So moved out where the moment I got the chance. Yes it meant saying bye to friends and family. At the time I really care. I just want to be in Tottenham are anywhere else remotely like it!