Foxtons (House Prices)

[alachlan]

Did you know that according to the Southwark magazine 50% of housing in the borough is council supported or housing association - I believe excluding keyworker schemes etc.

That is an incredible amount of housing stock that if on the free market would seriously ease the supply pressure that partly drives prices. For the main part, I don't think anyone would say that the way these houses are used isn't important but the gains due to developers improving what is available is surely nothing compared to this supply problem.

I think this is more to blame for the "starter-home" one-bed flat costing 300k?

Still, if we weren't all so obsessed with owning a place then things would be very different.

[nutty]

"Still, if we weren't all so obsessed with owning a place then things would be very different."

Totally agree - percentage ownership in the UK is massively higher than in the rest of Europe. What is the big issue with more people having to rent? As alachlan said, if more people had this view then house prices would probably drop?

[Brendan]

Ah but renting from a private landlord or renting from a council/government?

[MadWorld74]

Well I can't afford to buy in SE22, but would love to own the garden flat I'm in at the moment!!

Simply put, Foxtons scare me.

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[MadWorld74]

Well I can't afford to buy in SE22, but would love to own the garden flat I'm in at the moment!!

Simply put, Foxtons scare me.

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[*Bob*]

Tis true that renting is often the norm in many countries. However, the tenant often gets considerably more rights than the poor UK tenant.

At one flat I rented (which my flatmate and I had been at for a few years) we offered to paint the place up if the landlord supplied the materials as we were fed-up of it not getting done.

At a later visit, the landlord noted how nice the place looked and put the rent up accordingly.

[MadWorld74]

can landlords do that!!!?? We've made considerable upgrades to our place and the landlord is not allowed to put the rent up. It's fixed.

[*Bob*]

We were on a one year lease (which is fairly common in the UK). At the end of the lease they can pretty-much do what they like (which is what ours did).

If things were different in the rental market, I think it would change the 'desperation to buy' that we currently see.

[MadWorld74]

oh b*gger!.........we were on a 6 month rolling contract, nothing has happened yet! Is there 'affordable' housing in ED anymore, or is that like finding gold on Brighton beach. A ridiculous idea!

[SeanMacGabhann]

I know which of the people on this thread - on a purely humanitarian level - I would rather have round for a drink - next drink up could be interesting

[peckham_perkster]

I'm going to put my two penneth in here. I am in my thirites and still rent living in a shared house with 3 others. I would love to get on the propery market but there is no way on this heavenly earth I can entertain the possibility. I am currently in the process of putting myself forward for shared ownership which you can apply for even if you're not a key worker. I work for a council so I'm hoping this will put me in good stead.

However even if you do buy people don't always think of the fact that from now on you won't be sharing bills and so you really do need to be in a decent position to be able to afford to live. This in some ways puts me off, I work in a reasonably paid job - bear in mind it's a council - but I worry that even if I got to that point that I would then find myself chasing circles trying to cover other bills.

With regards to the renting thing in other countries, I have also talked about this to other people and saying that it is only in this country that renting is seen as almost the equivalent of being a social pariah with everyone at every turn telling you, 'you must get on the property ladder'.

I've thought about this long and hard and the only reason I can see that we're obsessed with this is that by the time you come to retire your house is your pension as the state pension and even private ones we have will be so rubbish. With that thinking in mind will it make any difference if you get on the ladder later rather than soooner? The economy is cyclical which means something has to give or in essence that young adults coming along as first time buyers, younger than me, will never buy a single property because they are too expensive. I don't know if there will be a massive recession, and believe me I do remember it and it wasn't nice, but there has to be a solution to this or the future looks pretty bleak for everyone.

I think the reason renting in other countries is more acceptable is because when you become old you invariably move in with your family or they take care of you lessening the need to have a massive pot of money. It's a very different culture to the one we have.

Sorry that was more than 2 pennies worth

[Alan Dale]

removed

[Brendan]

This is a very topical issue and one slightly separate from where this thread started out.

House prices in London at the moment are a major social problem. An unnatural wedge is being driven through our society.

Estate agents like Foxtons are not the cause of this problem. They are just one of the many symptoms. But, like a secondary infection, they can agitate the original problem.

[SeanMacGabhann]

Good post PP

Alan - at first I thought you had the horse before the cart - but upon re-reading, your version will do

You could always prove me wrong of course at the next forum drink up?

[Alan Dale]

Or confirm your prejudice and then get savaged by angry dog lovers.

[SeanMacGabhann]

I intend to get a dog just to meet you Alan ;-)

[Administrator]

2 posts removed for being off topic re-instated as the thread has been moved to the Lounge

[Alan Dale]

Edited - No longer relevant

[MadWorld74]

Alas! SeanMacGabhann I guess we will never be drinking buddies, me being a Foxtons loathing tenant...and all that.

[*Bob*]

I love a sociable drink, but I tend to shy away from conversations centred around profit margins, risk analysis, capital, inflation, market trends and gearing. And sport.

So I think I'll give it a miss.

*and Foxtons

[Alan Dale]

MadWorld74 Wrote:

-------------------------------------------------------

> Alas! SeanMacGabhann I guess we will never be

> drinking buddies, me being a Foxtons loathing

> tenant...and all that.

I think you've got it the wrong way round. I read it as being that Sean is happy to drink with you as long as you don't buy a house. Is that right Sean?

[Administrator]

Lounged

[Alan Dale]

Overdue. Standards are slipping round here.

[nutty]

Brendan Wrote:

-------------------------------------------------------

> This is a very topical issue and one slightly

> separate from where this thread started out.

>

> House prices in London at the moment are a major

> social problem. An unnatural wedge is being driven

> through our society.

>

> Estate agents like Foxtons are not the cause of

> this problem. They are just one of the many

> symptoms. But, like a secondary infection, they

> can agitate the original problem.

Well said - totally agree. I do suspect that this will be righted without any intervention required over time however, whether that's a slowdown or a crash who knows...

[Alan Dale]

A slowdown, a crash or widespread acceptance of the fact that in future only rich people will be able to afford the luxury of homeownership...