The housing ladder is becoming a fiction because, in net terms, as many people have been stepping off the ladder as have stepped on to it.
“Rightmove’s quarterly index shows a new pattern, as London rents have peaked because the tenants simply cannot afford it.”
Click here to read the full article
The back page of The Times (27 Feb 2017) carries an intriguing item claiming that the plans by Redrow and The Jockey Club to bulldoze the entire Kempton Park estate might be reversed.
We have several comments:
Postscript: The Jockey says there is no change. http://www.getsurrey.co.uk/news/kempton-park-redevelopment-nothing-changed-12617648
“An hour before the Jockey Club made its announcement I was contacted by agents for Redrow saying they had put the whole site forward but that we shouldn’t panic as it wasn’t their intention to seek development of the whole site. Lo and behold, the Jockey Club then announced it does want to build on the whole site. If I’m being polite I’d say that from the very beginning the Jockey Club has been disingenuous.”
At last someone is pointing out the fallacy, relentlessly being put about by developers, that building more houses will reduce house prices.
“Rising earnings and falling interest rates, rather than insufficient supply, drove the boom in house prices between 1996 and 2006.” (Oxford Economics Report, Section 1.3)
Click here to read the Redfern Review Press Release
To read the full Report, click here.
Is the planned sale of Kempton Park for housing the Jockey Club’s idea of a sick joke?