Most of those flats will be empty anyway. Unoccupied they're assets - occupied they can become problems. The property developers win; the owners win. And with the soaring prices, Charlton tenants and buyers lose.
The gastropubs and cafes that MIGHT result from this are the only potential saving grace. But look at the Millennium Village - would you go out there?
Changing the subject - Who the fuck buys all these properties? I said the same about 10 years back when I was working on one of the St Georges sites over by Canary Wharf and there must've been at least another 50 large developments gone up since then.....
Changing the subject - Who the fuck buys all these properties? I said the same about 10 years back when I was working on one of the St Georges sites over by Canary Wharf and there must've been at least another 50 large developments gone up since then.....
Investors who want tangible assets whose value is likely to increase. In other words, rich c**ts
The market for overseas millionaires/billionaires buying property in London as an investment must surely be peaking? And Anchor and Hope lane is hardly that desirable a location, with all the warehouses, retail parks and Sainsbury's depot around there anyway, so I'd have thought they'd need to be relatively affordable to shift
Changing the subject - Who the fuck buys all these properties? I said the same about 10 years back when I was working on one of the St Georges sites over by Canary Wharf and there must've been at least another 50 large developments gone up since then.....
The market for overseas millionaires/billionaires buying property in London as an investment must surely be peaking? And Anchor and Hope lane is hardly that desirable a location, with all the warehouses, retail parks and Sainsbury's depot around there anyway, so I'd have thought they'd need to be relatively affordable to shift
But they don't need to shift. They'll lie there indefinitely - perhaps one day a better transport link might be opened (shuttle monorail to the Woolwich Crossrail stop?) and they'll be filled up, but this is for now largely irrelevant. They're London property. Who knows how much that'll be worth when the rest of Britain/Europe/the world goes to shit? The wealthy are terraforming the Earth to their absolute benefit - some of their punts don't work out, but if they secure enough of the good land, they'll be kings when the bad land dissolves into nothingness.
Owning large amounts of property that is not lived in should be illegal, of course, but which Labour leader would be badass enough to say this? Your move, Jezza...
The market for overseas millionaires/billionaires buying property in London as an investment must surely be peaking? And Anchor and Hope lane is hardly that desirable a location, with all the warehouses, retail parks and Sainsbury's depot around there anyway, so I'd have thought they'd need to be relatively affordable to shift
But they don't need to shift. They'll lie there indefinitely - perhaps one day a better transport link might be opened (shuttle monorail to the Woolwich Crossrail stop?) and they'll be filled up, but this is for now largely irrelevant. They're London property. Who knows how much that'll be worth when the rest of Britain/Europe/the world goes to shit? The wealthy are terraforming the Earth to their absolute benefit - some of their punts don't work out, but if they secure enough of the good land, they'll be kings when the bad land dissolves into nothingness.
Owning large amounts of property that is not lived in should be illegal, of course, but which Labour leader would be badass enough to say this? Your move, Jezza...
why?
Do you or your family live in properties that have an empty room?
The market for overseas millionaires/billionaires buying property in London as an investment must surely be peaking? And Anchor and Hope lane is hardly that desirable a location, with all the warehouses, retail parks and Sainsbury's depot around there anyway, so I'd have thought they'd need to be relatively affordable to shift
But they don't need to shift. They'll lie there indefinitely - perhaps one day a better transport link might be opened (shuttle monorail to the Woolwich Crossrail stop?) and they'll be filled up, but this is for now largely irrelevant. They're London property. Who knows how much that'll be worth when the rest of Britain/Europe/the world goes to shit? The wealthy are terraforming the Earth to their absolute benefit - some of their punts don't work out, but if they secure enough of the good land, they'll be kings when the bad land dissolves into nothingness.
Owning large amounts of property that is not lived in should be illegal, of course, but which Labour leader would be badass enough to say this? Your move, Jezza...
why?
Do you or your family live in properties that have an empty room?
Notice the bit that said 'large amounts'? Oh, and sure, my family have a spare bedroom. Come the revolution, they're first on the sodding list, sure
With the fall in the value of the Pound Sterling, I would sadly expect foreign investment in London property to increase - it's cheap as chips for them. Just go to Bicester Village to get an idea of how cheap we are now and how they're onto us as a cheap market in general.
We urgently need to follow the Aussies before it's too late - assuming it's not too late, which it might well be.
With the fall in the value of the Pound Sterling, I would sadly expect foreign investment in London property to increase - it's cheap as chips for them. Just go to Bicester Village to get an idea of how cheap we are now and how they're onto us as a cheap market in general.
We urgently need to follow the Aussies before it's too late - assuming it's not too late, which it might well be.
I refer you to a Genesis album from the early 1970s .. 'Selling England by the Pound' .. nothing new here .. everything is up for grabs .. companies, properties, railways, power companies .. you name it, we sell it and pay a heavy price later .. Australia has got it right
Why? Because it distorts the housing market and turns it in to just a way of increasing the assets of the rich. It means that there are many Londoners who now have no hope of owning a house or flat anywhere near where they were raised.
it's okay everyone, the evening standard said that some properties that were on the market post Brexit in the £1-2m range had to knock a £100k or so off the asking price because of uncertainty. The market will stabilise itself
The London property market at the top end is a massive bubble, with speculators buying and selling on flats before they are even built. At some point the developers will run out of super rich people able to buy them OR thanks to some domestic crisis back home, the investors will need to repatriate all their money
With the fall in the value of the Pound Sterling, I would sadly expect foreign investment in London property to increase - it's cheap as chips for them. Just go to Bicester Village to get an idea of how cheap we are now and how they're onto us as a cheap market in general.
We urgently need to follow the Aussies before it's too late - assuming it's not too late, which it might well be.
I refer you to a Genesis album from the early 1970s .. 'Selling England by the Pound' .. nothing new here .. everything is up for grabs .. companies, properties, railways, power companies .. you name it, we sell it and pay a heavy price later .. Australia has got it right
New changes in the U.K. Tax relief on Pensions is also having an effect - even though the Government have taken steps to dampen interest in second properties by way of duties. Imho, the duties are way too low and will not deter buyers who are redirecting what would have been pension funding into second properties or buy to let - this is also pushing prices up and reducing affordability of properties for our younger generations.
Why? Because it distorts the housing market and turns it in to just a way of increasing the assets of the rich. It means that there are many Londoners who now have no hope of owning a house or flat anywhere near where they were raised.
The housing situation is obscene. Sooner or later there's going to be a political and social backlash.
Comments
The gastropubs and cafes that MIGHT result from this are the only potential saving grace. But look at the Millennium Village - would you go out there?
Changing the subject - Who the fuck buys all these properties? I said the same about 10 years back when I was working on one of the St Georges sites over by Canary Wharf and there must've been at least another 50 large developments gone up since then.....
http://www.skyscrapercity.com/showthread.php?t=1962582
Most of it never reaches the uk investors.
Owning large amounts of property that is not lived in should be illegal, of course, but which Labour leader would be badass enough to say this? Your move, Jezza...
Do you or your family live in properties that have an empty room?
Just go to Bicester Village to get an idea of how cheap we are now and how they're onto us as a cheap market in general.
We urgently need to follow the Aussies before it's too late - assuming it's not too late, which it might well be.
Take a look at this Link:
http://www.exfin.com/australian-property-firb
All housing bubbles end in a crash