Housing crisis in London – its the population (stupid)!


To misquote Bill Clinton!

An article in the ‘Guardian’ newspaper states ‘Sky-high London rents prompt calls for new controls on landlords’
With many Londoners paying at least half their salary in rent, politicians say urgent measures are needed to prevent a ghettoisation of the capital.

Sarah Hayward, Camden council’s Labour leader, who commissioned a report from the London School of Economics and Political Science on the global renting experience, argues that unless fair rent, as opposed to market rent, becomes the norm, the capital will “lose its soul”.
“I am really worried about the future of London,” Hayward says. “One of our selling points is that London offers diversity. It’s edgy, it’s cultured, it’s intellectual, it’s artsy, it’s fashion as well as business.”

So rents are rising, what a surprise! Is it the fault of greedy landlords just pushing rents up? Is it due to those against building on any scrap of green and open land that exists?

Well oddly enough the population of London is growing, fast – its out of control. Between 2008 and 2014 the population of England grew by 5% (now that is too high in itself), but in London?

Tower Hamlets 22%!
Newham 17%
Islington and Barking & Dagenham both at 15%
Hackney 14%
Hillingdon, Camden, Greenwich and Hounslow all at 12%.

Not a surprise then that rents are up!

But lets ignore the impact of population growth – its supposed to be good for you!

[Also impact of properties being developed for luxury homes and homes sold as second or investment properties]

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s