The statistical office said that prices have risen sharply in most parts of uk, again being the City of London which registered the largest increase
The sharp rise recorded in England is mainly due to the annual increase of 19.3% in London and, to a lesser extent, the increase in the Southeast (9.7%) and East (7.9%). in fact, excluding London and the southeast, the housing prices in uk rose 6.3%
Friday, March 21, 2014 -
London is experiencing a price bubble that makes it cheaper to live and travel thousands of miles every day to reside there. photo: yahoo finance
British blogger sam Cookney wanted denounce the folly of living housing prices in London showing that would be cheaper to rent a bigger house in barcelona and commute by plane to the uk to live there
considering that their work week includes four days working in an office in central London and one at home, and with house prices rising at a rate of between 5% and 10% monthly on the British capital, , Cookney made their accounts ... and I did better than I thought
As he explains in his blog , made reference to the 1,795 euros that according to British property portal Zoopla costs a one room apartment in the west London suburb of Hampstead, an area of their choice and very popular with young professional singles as he added to this figure, a municipal rates 90 euros and the payment of necessary transport to get to work, which costs about 140 euros. in total, live in london would cost 2,025 euros at current exchange rates
To compare, in Barcelona decided to choose the Nou Camp, a place where he had resided Cookney years. "A middle-class residential area and very similar to west hampstead" says
There he found a three bedroom and three-bedroom "a stone's throw from the metro." price, 680 euros per month. addition, notes, "In Spain the tenant does not pay municipal taxes"
In transportation, opted for the cheaper option: ryanair flights from el prat airport to London Stansted for only 34 euros roundtrip ticket. to that he added the 23 euros a day it would cost the city between home, work and the airport by public transport
Recapitulating the 34 euros a day of air travel and transport 23 euros for four days a week for four weeks and add 912 euros per month. if you add the 680 euros of rent, the final price for living in barcelona is 1,592 euros
And, as pointed Cookney, "compared to my life in London, this option would save me 387 euros, which would enjoy bottles of rioja 5 euros sitting in one of the three balconies of my house"
The hired office space in London from January to the end of the third quarter of 2013 (916.000 m2 / +71% YoY) and exceeds the volume of the entire year 2012, according to property consultant BNP Paribas Real Estate . The overall recruitment 2013 is expected to reach the highest level since 2010.
The demand for office space remains strong in all areas, not only in the City of London, and projecting activity sectors of information technology (38%), banking (16%) and professionals (21%) services.
The offer keeps a low profile and new projects do not involve sufficient area to prevent further upward pressure on rents.
During the third quarter, major operations were performed on existing supply after a period of strong pre-holiday activity. In the City, this trend has allowed the level of availability has dropped to its lowest level since 2010 (8.1% / -11% YoY).
With regard to investment, the volume of purchases in the third quarter amounted to 5,100 million euros, representing an increase of 76% quarterly and 85% annually. This is the highest quarterly volume of investment since the third quarter of 2007.
The last quarter was marked by the closure of large trades. Particularly noteworthy are two transactions (Shell Mex House and Paddington Central), which accounted for approximately 1,000 million euros between them.
International investment accounted for more than half of the turnover and increased in absolute terms. However lost market share against local investment, because last quarter was a recovery of British investment in London with British Land and Legal & General among those who have shaped the most significant transactions.
Yields 'prime' were stable in West End (4%) while decreased 0.25 points in the City as a result of demand pressure (4.5%).
Developers are focusing on high-end properties, according to report that warns firms could be forced out of the capital
Developers are focusing on properties in London that cost more than £2m to buy or £5,000 a month to rent. Photograph: /Jason Hawkes
London's housing shortfall is running at more than 20,000 homes per year and too many of the properties under construction are aimed at wealthy buyers, according to research that warns of a growing affordability gap in the capital's new housing stock.
A report by estate agency Savills warned that businesses could be forced out of London because their workforces cannot afford accommodation, while overcrowding forces young professionals to live longer with their parents.
More than 50% of housing demand in London comes from households earning less than £50,000 year, according to Savills, but developers are instead focusing on high-end prime properties. These cost more than £2m to buy or £5,000 a month to rent, with many ending up in the hands of overseas investors.
"Builders' focus on wealthier, equity rich and credit-worthy buyers since the credit crunch means that a disproportionate amount of stock is being delivered at what we call 'new prime' levels," Savills said.
Opposition politicians accused the government of allowing useless homes to be built, while ordinary Londoners struggled to afford to stay in the capital.
Provided by London & Country for the Guardian
