3 ms·
Is it me or does this article seem to be stretching the data to fit a recent popular narrative in the media? Maybe it is true but the presentation of the data i
by dashundchen 6y ago
Is it me or does this article seem to be stretching the data to fit a recent popular narrative in the media? Maybe it is true but the presentation of the data is rather poor.
So property and rent prices grew in almost every region in the UK, including 4% sale price in already sky high London. But we're not told the volume of sales or it's comparison to previous periods, or whether this is median versus average sale price (very important if this is skewed by high end property sales). Nothing about population movement from urban to rural, just a quote from a realtor.
In a lockdown economy on hold, I would imagine average people would be more likely to reluctant to make big moves, while the wealthy continue to buy and sell, driving up prices. Not to mention the incredible amounts of cash pumped into the economy via stimulus and low interest rates.
Curbed published a good analysis on these headlines vs the data this summer, of course regarding the US.
https://archive.curbed.com/2020/7/13/21319909/coronavirus-urban-exodus-cities-moving-suburbs https://archive.curbed.com/2020/7/13/21319909/coronavirus-ur...
- jaclaz 6y agoAlso, very likely, it is largely a "replacement market", i.e. people that already own a flat or house in London decide to sell and buy a (larger) house in the country or in a nearby town, so there should be a flood of houses for sale in the city. I mean I doubt that most people can afford to buy another house, keeping the one in London, or that most people that are now in a rented house can afford to buy one (even if outside the city) "suddenly".