House prices in Waltham Forest tipped to rise more than anywhere else in London

This Is Local London: Rising property prices 'could see buyers flock to Chingford' Rising property prices 'could see buyers flock to Chingford'

Average house prices in Waltham Forest are set to almost double in the next ten years, according to new research.

The study by the National Housing Federation found the borough will see the highest rise in the value of homes in London (85 per cent).

It also concluded that the cost of properties for first time buyers will also increase by the biggest margin (75 per cent).

This would take the average price for a house in Waltham Forest up to £500,000, but the report warns young people looking to get on the property ladder could be pushed out of the borough.

Estate agents believe the rise in demand will see people moving into areas in the borough where properties are traditionally cheaper.

This includes south Chingford, where house prices are lower than the affluent north.

Stephen Giltnane, branch manager of Kings Group in Chingford, said he is already seeing “panic buying” in the area, with houses being sold within a few days of going on the market.

“Everything that comes in for let there’s five, six or even 10 people who want to take it,” he said.

“It’s a crazy situation at the minute. There were 18 viewings at an open house last week.

“In effect, people are almost panic buying because they don’t want to be left off the property ladder.”

He added that some clients are looking in south Chingford when they realise they are priced-out of other areas.

Lewis Hall, of Hetheringtons estate agents in Chingford, agreed that properties in south Chingford can represent better value for money than nearby areas.

“Possibly young people would be forced to look outside (inner) London,” he said.
“It’s certainly a very good market over here.”

The research calculated price rises by using a model which compares a number of factors, including trends in employment and relative earnings.

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1:11pm Wed 11 Dec 13

Stevo98 says...

People priced out of N1 and N16 are moving in, this is a massive change in the demographics and could see the reversal of white flight. The implications of the Olympic park haven't even been factored in yet, when people realise they can hop on a bike and ride down to Vicky park and Hackney, or on to the City. Crossrail at Maryland will have a tremendous impact too, good for the scruffy end of the High Road..
People priced out of N1 and N16 are moving in, this is a massive change in the demographics and could see the reversal of white flight. The implications of the Olympic park haven't even been factored in yet, when people realise they can hop on a bike and ride down to Vicky park and Hackney, or on to the City. Crossrail at Maryland will have a tremendous impact too, good for the scruffy end of the High Road.. Stevo98

2:22pm Wed 11 Dec 13

mdj says...

Price hikes are always presented as good news. For young families hoping to stay in the area they grew up in, it's a disaster.
Price hikes are always presented as good news. For young families hoping to stay in the area they grew up in, it's a disaster. mdj

2:26pm Wed 11 Dec 13

Billy Yerache says...

A guy I know bought many houses around the village for about 40k each after people were repossessed after the last big crash around early 1992, He has already been cashing in and sold a small 2 up 2 down for 550K! He had the cheek to say that he wished he never sold that as he thought they were going to go through the roof.

The rents he gets are astronomical as well for tiny places. I am glad I on in around the village at the right time, I would sell up but the prices are high everywhere.
A guy I know bought many houses around the village for about 40k each after people were repossessed after the last big crash around early 1992, He has already been cashing in and sold a small 2 up 2 down for 550K! He had the cheek to say that he wished he never sold that as he thought they were going to go through the roof. The rents he gets are astronomical as well for tiny places. I am glad I on in around the village at the right time, I would sell up but the prices are high everywhere. Billy Yerache

2:39pm Wed 11 Dec 13

Stevo98 says...

mdj wrote:
Price hikes are always presented as good news. For young families hoping to stay in the area they grew up in, it's a disaster.
that's true, it's what I meant about the demographic change, locals priced out, middle class moving in, still racially diverse but not as much as before.
[quote][p][bold]mdj[/bold] wrote: Price hikes are always presented as good news. For young families hoping to stay in the area they grew up in, it's a disaster.[/p][/quote]that's true, it's what I meant about the demographic change, locals priced out, middle class moving in, still racially diverse but not as much as before. Stevo98

4:39pm Wed 11 Dec 13

Billy Yerache says...

Stevo98 wrote:
mdj wrote:
Price hikes are always presented as good news. For young families hoping to stay in the area they grew up in, it's a disaster.
that's true, it's what I meant about the demographic change, locals priced out, middle class moving in, still racially diverse but not as much as before.
People should save up and buy a place rather than squander it all on shots of jackoboombs, alcopops, takeaway junk fast cars, latest electrical gadgets, iPhones and 'travel' and get a property behind them, they can do all that stuff later.

You can't have your cake and eat it and the youth should get their priorities right or they miss the boat.
[quote][p][bold]Stevo98[/bold] wrote: [quote][p][bold]mdj[/bold] wrote: Price hikes are always presented as good news. For young families hoping to stay in the area they grew up in, it's a disaster.[/p][/quote]that's true, it's what I meant about the demographic change, locals priced out, middle class moving in, still racially diverse but not as much as before.[/p][/quote]People should save up and buy a place rather than squander it all on shots of jackoboombs, alcopops, takeaway junk fast cars, latest electrical gadgets, iPhones and 'travel' and get a property behind them, they can do all that stuff later. You can't have your cake and eat it and the youth should get their priorities right or they miss the boat. Billy Yerache

11:17pm Wed 11 Dec 13

Robert19 says...

There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government.. Robert19

1:08am Thu 12 Dec 13

Billy Yerache says...

Robert19 wrote:
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
It is the same old, hard luck,sorry tale, people who have squandered there money when young, bleat in later life, that they have no house, cannot afford the rent, cannot play their bills, cannot go on holiday and so on. Maybe they should think back to the 30k car with 5 k insurance they bought to impress their stupid friends, the lines of jagger booms on the bar, the tattoos, the pizzas, the £400 haircuts, designer clothes, piercings, ski booze holidays, silly sun tan courses, gym memberships and the rest of the waste.

All along, their elders said 'Bricks and mortar son, bricks and mortar, can't go wrong.

No good whinging now should have listened.
[quote][p][bold]Robert19[/bold] wrote: There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..[/p][/quote]It is the same old, hard luck,sorry tale, people who have squandered there money when young, bleat in later life, that they have no house, cannot afford the rent, cannot play their bills, cannot go on holiday and so on. Maybe they should think back to the 30k car with 5 k insurance they bought to impress their stupid friends, the lines of jagger booms on the bar, the tattoos, the pizzas, the £400 haircuts, designer clothes, piercings, ski booze holidays, silly sun tan courses, gym memberships and the rest of the waste. All along, their elders said 'Bricks and mortar son, bricks and mortar, can't go wrong. No good whinging now should have listened. Billy Yerache

10:29am Thu 12 Dec 13

Stevo98 says...

Robert19 wrote:
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
Help To Buy is basically a bribe to potential tory voters.
[quote][p][bold]Robert19[/bold] wrote: There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..[/p][/quote]Help To Buy is basically a bribe to potential tory voters. Stevo98

10:37am Thu 12 Dec 13

Billy Yerache says...

Stevo98 wrote:
Robert19 wrote:
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
Help To Buy is basically a bribe to potential tory voters.
So you assume that nobody who has taken up Help to Buy is a Labour Voter?
[quote][p][bold]Stevo98[/bold] wrote: [quote][p][bold]Robert19[/bold] wrote: There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..[/p][/quote]Help To Buy is basically a bribe to potential tory voters.[/p][/quote]So you assume that nobody who has taken up Help to Buy is a Labour Voter? Billy Yerache

3:48pm Thu 12 Dec 13

Robert19 says...

Stevo98 wrote:
Robert19 wrote:
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
Help To Buy is basically a bribe to potential tory voters.
Agreed. What many people don't understand is they may have an increasingly valuable resource but their children will not even be able to get on the bottom rung of the housing ladder as they are being left behind. So what is the point. They only way the children might benefit is when they either have to downsize or keel over - neither that wonderful.
There are untold malevolent schemes like Right to Buy which has been decimating public housing since Thatcher won an election using it. The bedroom tax, caps on Benefits (largely affecting people on low wages not just unemployed people) also do not help us to have sane well managed housing policies.
[quote][p][bold]Stevo98[/bold] wrote: [quote][p][bold]Robert19[/bold] wrote: There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..[/p][/quote]Help To Buy is basically a bribe to potential tory voters.[/p][/quote]Agreed. What many people don't understand is they may have an increasingly valuable resource but their children will not even be able to get on the bottom rung of the housing ladder as they are being left behind. So what is the point. They only way the children might benefit is when they either have to downsize or keel over - neither that wonderful. There are untold malevolent schemes like Right to Buy which has been decimating public housing since Thatcher won an election using it. The bedroom tax, caps on Benefits (largely affecting people on low wages not just unemployed people) also do not help us to have sane well managed housing policies. Robert19

4:13pm Thu 12 Dec 13

Stevo98 says...

Robert19 wrote:
Stevo98 wrote:
Robert19 wrote:
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
Help To Buy is basically a bribe to potential tory voters.
Agreed. What many people don't understand is they may have an increasingly valuable resource but their children will not even be able to get on the bottom rung of the housing ladder as they are being left behind. So what is the point. They only way the children might benefit is when they either have to downsize or keel over - neither that wonderful.
There are untold malevolent schemes like Right to Buy which has been decimating public housing since Thatcher won an election using it. The bedroom tax, caps on Benefits (largely affecting people on low wages not just unemployed people) also do not help us to have sane well managed housing policies.
Well said. House price rises are pretty much meaningless- if you live there it makes no difference, if you upgrade you naturally pay more.

those lucky enough to buy under Right To Buy in, say, 1995 are now sitting on an increase of around £200k in LBWF, many are cashing in, as they are perfectly entitled to do, and migrating out of London where their money goes further. To illustrate the insanity,:
If grocery prices had increased at the same rate as house prices since 1971, then:
A 4-pint carton of milk would cost £10.45
A chicken would cost £51.18
A bunch of 6 bananas would cost £8.47
A box of 6 eggs would cost £5.01
A loaf of sliced white bread would cost £4.36
A leg of lamb would cost £53.18
The average weekly expenditure on food for a family of four would be £453.23.

It's out of kilter.
[quote][p][bold]Robert19[/bold] wrote: [quote][p][bold]Stevo98[/bold] wrote: [quote][p][bold]Robert19[/bold] wrote: There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..[/p][/quote]Help To Buy is basically a bribe to potential tory voters.[/p][/quote]Agreed. What many people don't understand is they may have an increasingly valuable resource but their children will not even be able to get on the bottom rung of the housing ladder as they are being left behind. So what is the point. They only way the children might benefit is when they either have to downsize or keel over - neither that wonderful. There are untold malevolent schemes like Right to Buy which has been decimating public housing since Thatcher won an election using it. The bedroom tax, caps on Benefits (largely affecting people on low wages not just unemployed people) also do not help us to have sane well managed housing policies.[/p][/quote]Well said. House price rises are pretty much meaningless- if you live there it makes no difference, if you upgrade you naturally pay more. those lucky enough to buy under Right To Buy in, say, 1995 are now sitting on an increase of around £200k in LBWF, many are cashing in, as they are perfectly entitled to do, and migrating out of London where their money goes further. To illustrate the insanity,: If grocery prices had increased at the same rate as house prices since 1971, then: A 4-pint carton of milk would cost £10.45 A chicken would cost £51.18 A bunch of 6 bananas would cost £8.47 A box of 6 eggs would cost £5.01 A loaf of sliced white bread would cost £4.36 A leg of lamb would cost £53.18 The average weekly expenditure on food for a family of four would be £453.23. It's out of kilter. Stevo98

4:36pm Thu 12 Dec 13

mdj says...

'I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!'

We so often hear that transport links are what make an area attractive: Canning Town has had the A13, the District Line, an Overground, the Jubilee line and an airport for years, and was still a good location for a post-apocalypse zombie movie until very recently.
Then we're told that Location is what counts. I remember walking appalled through handsome Islington squares in the 70s that were like derelict Dr Who sets. Nobody's moved them since, as far as I can see...
'I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!' We so often hear that transport links are what make an area attractive: Canning Town has had the A13, the District Line, an Overground, the Jubilee line and an airport for years, and was still a good location for a post-apocalypse zombie movie until very recently. Then we're told that Location is what counts. I remember walking appalled through handsome Islington squares in the 70s that were like derelict Dr Who sets. Nobody's moved them since, as far as I can see... mdj

5:52pm Thu 12 Dec 13

Stevo98 says...

Canning Town and Custom House are undergoing a £3.7bn regeneration (over the next 15 years)
Canning Town and Custom House are undergoing a £3.7bn regeneration (over the next 15 years) Stevo98

8:31pm Thu 12 Dec 13

Robert19 says...

Great for Canning Town. I'm sure it will benefit from the investment. My point was more that Leytonstone has been an affordable area for those who were unable to afford further west, now it has become beyond the reach of many people. So will Canning Town soon be unaffordable.
No politician wants to do anything about the crisis in housing. What about rent controls for a starter for ten. If it is good enough for New York why not London? Ah but we have a mayor who thinks greed is good - I forgot that.
I like the statistical comparisons by the way.
Great for Canning Town. I'm sure it will benefit from the investment. My point was more that Leytonstone has been an affordable area for those who were unable to afford further west, now it has become beyond the reach of many people. So will Canning Town soon be unaffordable. No politician wants to do anything about the crisis in housing. What about rent controls for a starter for ten. If it is good enough for New York why not London? Ah but we have a mayor who thinks greed is good - I forgot that. I like the statistical comparisons by the way. Robert19

10:39pm Thu 12 Dec 13

Billy Yerache says...

Stevo98 wrote:
Robert19 wrote:
Stevo98 wrote:
Robert19 wrote:
There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more.
Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!!
The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..
Help To Buy is basically a bribe to potential tory voters.
Agreed. What many people don't understand is they may have an increasingly valuable resource but their children will not even be able to get on the bottom rung of the housing ladder as they are being left behind. So what is the point. They only way the children might benefit is when they either have to downsize or keel over - neither that wonderful.
There are untold malevolent schemes like Right to Buy which has been decimating public housing since Thatcher won an election using it. The bedroom tax, caps on Benefits (largely affecting people on low wages not just unemployed people) also do not help us to have sane well managed housing policies.
Well said. House price rises are pretty much meaningless- if you live there it makes no difference, if you upgrade you naturally pay more.

those lucky enough to buy under Right To Buy in, say, 1995 are now sitting on an increase of around £200k in LBWF, many are cashing in, as they are perfectly entitled to do, and migrating out of London where their money goes further. To illustrate the insanity,:
If grocery prices had increased at the same rate as house prices since 1971, then:
A 4-pint carton of milk would cost £10.45
A chicken would cost £51.18
A bunch of 6 bananas would cost £8.47
A box of 6 eggs would cost £5.01
A loaf of sliced white bread would cost £4.36
A leg of lamb would cost £53.18
The average weekly expenditure on food for a family of four would be £453.23.

It's out of kilter.
The prices you quote are like some of the prices charged in some shops in Walthamstow Village, chicken gently massaged until the feathers fall off, given a pre-stun bottle of organic vegan cow milk from the pass the duchy on the left hand side 'green pop up low carbon farm' served with naturally passed jus.
[quote][p][bold]Stevo98[/bold] wrote: [quote][p][bold]Robert19[/bold] wrote: [quote][p][bold]Stevo98[/bold] wrote: [quote][p][bold]Robert19[/bold] wrote: There is something deliberately mad going on in the housing market in and around London. The Chancellor has underwritten housing loans which has in part ignited the market where there is already a shortage of housing. This adds fuel to the flames and people panic pushing the prices up even more. Meanwhile people who already own their homes look at the pounds being added to the value of their home. The Tories see votes for them out of this false sense of security and increased wealth. It is a deliberate and dangerous ploy as it was housing and associated sub prime mortgages that started this recession. I've twice heard on the TV that people are looking at Canning Town to buy as they cannot afford Leytonstone!! The whole situation is mad and it is hitting young people hardest even in the rented sector. Anarchy in the UK housing market. Why doesn't a political party do something about it and I blame Labour (almost as much as Osborne and the Tories) for sitting on their hands for all the time they were in government..[/p][/quote]Help To Buy is basically a bribe to potential tory voters.[/p][/quote]Agreed. What many people don't understand is they may have an increasingly valuable resource but their children will not even be able to get on the bottom rung of the housing ladder as they are being left behind. So what is the point. They only way the children might benefit is when they either have to downsize or keel over - neither that wonderful. There are untold malevolent schemes like Right to Buy which has been decimating public housing since Thatcher won an election using it. The bedroom tax, caps on Benefits (largely affecting people on low wages not just unemployed people) also do not help us to have sane well managed housing policies.[/p][/quote]Well said. House price rises are pretty much meaningless- if you live there it makes no difference, if you upgrade you naturally pay more. those lucky enough to buy under Right To Buy in, say, 1995 are now sitting on an increase of around £200k in LBWF, many are cashing in, as they are perfectly entitled to do, and migrating out of London where their money goes further. To illustrate the insanity,: If grocery prices had increased at the same rate as house prices since 1971, then: A 4-pint carton of milk would cost £10.45 A chicken would cost £51.18 A bunch of 6 bananas would cost £8.47 A box of 6 eggs would cost £5.01 A loaf of sliced white bread would cost £4.36 A leg of lamb would cost £53.18 The average weekly expenditure on food for a family of four would be £453.23. It's out of kilter.[/p][/quote]The prices you quote are like some of the prices charged in some shops in Walthamstow Village, chicken gently massaged until the feathers fall off, given a pre-stun bottle of organic vegan cow milk from the pass the duchy on the left hand side 'green pop up low carbon farm' served with naturally passed jus. Billy Yerache

10:42pm Thu 12 Dec 13

Stevo98 says...

Robert19 wrote:
Great for Canning Town. I'm sure it will benefit from the investment. My point was more that Leytonstone has been an affordable area for those who were unable to afford further west, now it has become beyond the reach of many people. So will Canning Town soon be unaffordable.
No politician wants to do anything about the crisis in housing. What about rent controls for a starter for ten. If it is good enough for New York why not London? Ah but we have a mayor who thinks greed is good - I forgot that.
I like the statistical comparisons by the way.
It makes no sense, say a couple on £25k each, a pretty flipping good wage, nobody's lending 6x joint earnings so they can't afford E10 or E11?
[quote][p][bold]Robert19[/bold] wrote: Great for Canning Town. I'm sure it will benefit from the investment. My point was more that Leytonstone has been an affordable area for those who were unable to afford further west, now it has become beyond the reach of many people. So will Canning Town soon be unaffordable. No politician wants to do anything about the crisis in housing. What about rent controls for a starter for ten. If it is good enough for New York why not London? Ah but we have a mayor who thinks greed is good - I forgot that. I like the statistical comparisons by the way.[/p][/quote]It makes no sense, say a couple on £25k each, a pretty flipping good wage, nobody's lending 6x joint earnings so they can't afford E10 or E11? Stevo98

1:19pm Mon 16 Dec 13

Billy Yerache says...

My neighbour has just purchased a large house in Leytonstone after a lengthy bidding war and paid 75K over the asking price. She wants to rent it all out as rooms as the agent said that would generate the most money rather than converting it into three flats. Despite having to put up a large deposit she still will make a tidy profit per month.
My neighbour has just purchased a large house in Leytonstone after a lengthy bidding war and paid 75K over the asking price. She wants to rent it all out as rooms as the agent said that would generate the most money rather than converting it into three flats. Despite having to put up a large deposit she still will make a tidy profit per month. Billy Yerache

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