Return to office orders will be compounding this. London employers who are competing for workers could do themselves a lot of favours with a 100% work from home offer.
this post was submitted on 05 Oct 2023
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Who are the landlords selling to? Are the properties that disappear from the market used for homes, or something else?
More people selling should mean house prices going down.
House prices are going down. Just not by as much as many expect because ultimately there is still a housing shortage I guess. Also inflation is perhaps offsetting the actual drop in figures but technically is lowering prices too.
Are they though? There are no good properties on the market, what is being sold is pretty much rubbish, which was always cheap. That skews the statistics.
And if you see something good, it's very very expensive. I used to live in Kensal Green just a few years ago, there are just a few houses on the market and all the good ones are above £2m. They were below £1m just two years ago.
There was a huge amount of purchase and sale during covid due to the tax holiday. This had disproportionate effects on house prices compared to the period before it and the behaviour of the market is still not very predictable as a result.
As for good and bad, that's a matter of budget and perception, though I appreciate anyone being frustrated with having to give so much for so little in a lot of cases.
That is absolutely wild. Who has that sort of money?
People with central London jobs, hopefully
Those who don't want to sleep on the streets.
Some were cheering a house price crash with rising interest rates but the collateral damage has been on renters as landlords either 1) pass on the increase in their mortgage payments to their tenants or 2) sell the property to someone who wants to live in it taking it out of the pool of available properties and putting upward pressure on rents.