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| Re: London news (62721) | |||
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Re: London news |
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Posted by Rail Blue on Sat Mar 12 20:44:20 2005, in response to Re: London news, posted by brooklynQB on Sat Mar 12 19:19:20 2005. I mean, London looks like it could easily fit 20 million people with all that empty space!And the tragedy is that 20 million people probably want to live there too. Is there any popualtion gorwth/development going on in London now? No, just horrendous house price inflation. Average prices of flats (apartments): 2004 (oct-dec) £261,918 2003 (oct-dec) £242,157 2002 (oct-dec) £231,341 2001 (oct-dec) £191,925 2000 (oct-dec) £178,842 1999 (oct-dec) £146,268 1998 (oct-dec) £116,346 1997 (oct-dec) £106,850 1996 (oct-dec) £94,615 1995 (oct-dec) £85,724 In other words, prices have more than tripled in the last decade. The average annual salary in London is £30,984. In this country, you can generally raise three times your income as a mortgage. This means that the average London couple can raise £185,904 - they can't afford the average flat in London (whereas, in 1995, a single guy could just about afford one). Also, does London have housing projects/bad areas like NY? Most places are safe now. A lot of traditionally poor areas have changed demographically over the past few years as the residents capitalise on the shortage of housing in London. Really, it's all the governments fault. We should have started building housing in large quantities in about 1994. Typically, the government got their growth predictions wrong, and then failed to react. At least the sodding NIMBYs are happy. |
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