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But then councils can compete with each other, the ones outside even do so. There are tons of high rises coming far from Central London but still reasonable com
by actuator 5y ago
But then councils can compete with each other, the ones outside even do so. There are tons of high rises coming far from Central London but still reasonable commute to center, but that doesn't necessarily reduce the price of properties inside.
Area has a lot to do with prices and unless these outer areas become self sufficient so much that Central London or rich boroughs lose lustre, the inner areas will command a high price.
- iso1631 5y agoWhile demand outstrips supply as now, prices increase. These have a ceiling of the maximum people can afford. If everyone is given a £10k payrise, then rents will increase by £10k, and buying will increase by whatever an extra £10k a year will get you on the mortgage. Until supply increases enough so that demand is no longer artificially constrained that will be the case. Now there are places where supply is higher than demand, like inner cities in places like Stoke, and prices there are low enough that even a single earner on minimum wage with 6 months salary as a deposit can afford a 2 bed house [0] [0] https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=114196907&sale=14460331&country=england https://www.rightmove.co.uk/house-prices/detailMatching.html...