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Should government fund mass house building - city size of London needed


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Who says another 4 million people are to arrive in this country?

 

I know it's not exactly what you meant :) but the ONS seem to think that there'll be 4.3 million more of us by 2018

 

http://www.statistics.gov.uk/cci/nugget.asp?id=1352

 

Wherever these people come from they'll still have to be housed etc etc...

 

From another source Britain is projected to have the highest population in the EU by 2060...

 

http://www.localfutures.com/Home/Our_Network/Intelligence/Future_Drivers/Demographics/default.aspx#Population

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I know it's not exactly what you meant :) but the ONS seem to think that there'll be 4.3 million more of us by 2018

 

http://www.statistics.gov.uk/cci/nugget.asp?id=1352

 

Wherever these people come from they'll still have to be housed etc etc...

 

Thanks truman I appreciate that, that's why I said to the poster the reasons for any new house building weren't entirely for the reason they offered-ie immigration.

 

Not for that reason since they're not arriving in 'mass' numbers.

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So if another 4 million people are to arrive into this country, and we build no more houses - where will these people live?

 

if there is nowhere to live perhaps they won't come ?

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And before peole say house prices go up at the same rate of earnings - NO CHANCE !!!!

 

In 1999, you could have bought a house for £35,000. Someone earning £13000 per annun needed only 2.5 times there wages to buy a home.

 

HOuse prices are easily £120,000 (the cheapest areas away from druggies and drunks), so thats a almost a 4 x increase.

 

If the person earning £13,000 in 1999, is now earning £52,000 then, yes I agree house prices are rising at the same rate as pay

 

So why does a first time buyer expect to start out with a house? A flat first then an upgrade, or an ex council house. Have you heard of 'gentrification'? Its when a rundown area attracts better off people who've been priced out of their preferred areas. They bring more money, and spend some of it doing up their homes/gardens which encourages others to move there. To the benefit of all usually.

 

I thought I'd also point out that there is property in Sheffield much, much cheaper than £120k. http://www.rightmove.co.uk/property-for-sale/Sheffield.html?sortByPriceDescending=false&index=50

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And before peole say house prices go up at the same rate of earnings - NO CHANCE !!!!

 

In 1999, you could have bought a house for £35,000. Someone earning £13000 per annun needed only 2.5 times there wages to buy a home.

 

You could have done but given that the average house price in Jan 2000 (earliest I could find) was 75,060 so would you really have wanted to live there!? It also changes your calculations somewhat - you would have needed 5.8 times your £13000 income to buy the average house.

 

House prices are easily £120,000 (the cheapest areas away from druggies and drunks), so thats a almost a 4 x increase.

 

If the person earning £13,000 in 1999, is now earning £52,000 then, yes I agree house prices are rising at the same rate as pay

 

The current average house price is £167,208 so if you could get a 5.8 times mortgage you would need an income of just under 30K per annum to cover it.

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