3 ms·
To be fair, a 3 bedroom flats is approaching a million dollars. There aren't many of them being built because people couldn't buy them.
by user5994461 8y ago
To be fair, a 3 bedroom flats is approaching a million dollars. There aren't many of them being built because people couldn't buy them.
- sgt101 8y agoIf the planning laws were changed and a couple of thousand were built then the market prices would come down. Developers would still turn a profit because the cost of building is ultra dependent on the cost of land in London, which if the planning laws were changed would change.
- user5994461 8y agoBuy prices are already slighly down compared to 2 years ago, something to do with Brexit. There are literally properties being built everywhere. Just take the overground to any direction and look around you. It doesn't make prices go down. There are too many people and too much money.
- sgt101 8y agoThe issue is that these are properties that suit single young professionals /couples and speculators. This creates scarcity in the middle of the market and drives onward pressure for family dwelling units. In turn the pressure for family dwelling units drives cash-in-and-commute out to the home counties. All of which hollows out communities and the city - schools and infrastructure suffer much. Prices are also down because of tax - sharp tax; which is a good thing in terms of dealing with speculation.