Harringay, Haringey - So Good they Spelt it Twice!
Hampden Rd development being marketed to overseas buyers
The Fairview homes development at Hampden Rd is being marketed to wealthy foreigners as student accommodation and would only be available for Londoners to rent. Fourteen units from the first phase have already been sold in Dubai and Hong Kong. Attached is the brochure, make your own minds up.
Tags for Forum Posts: altitude, fairview, hampden road development, housing, tall buildings
Replies to This Discussion
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Permalink Reply by John McMullan on
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The biggest factor in house price inflation is mortgages. Just look at how cheap an unmortgageable property is. I'll grant you that the interest rate decrease is "mortgages" but it's a massive factor that outshines everything else.
PS There has been negligible real income growth in Britain in the last 10 years, perhaps even the last 20.
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Permalink Reply by kotkas on
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Factors are ordered by impact on house price inflation, not the extent to which they have changed over the years. Interest rate is the fundamental determinant of cost of credit, and therefore mortgage pricing - so yes, a major factor. Foreign buyers - not at all.
Native baby boomers have benefitted most from house price inflation and own a much greater proportion of BTL property than all foreign investors put together. But foreigners are a much more politically attractive, emotive target!
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No it's not fair, but property is a form of investment - be it for foreign or UK tax payers. Do you own your home? Why? Would it matter to you if its value increased, stayed as is, or declined?
There is really no market-wide way to selectively prevent foreign investors from participating in the property market, and yes some of them will be wealthier than the average UK consumer, but so are most UK property owners so I don't see the issue.
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It is at the moment but it SHOULDN'T be. The same as humans are not allowed to be investments (slavery) but they used to be.
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Great, could I persuade you to buy it at the price at which you purchased it to relieve you of the moral pain of owning an asset that is appreciating in value?
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What is the point in an asset increasing in value (other than to alleviate the burden of the mortgage with which I purchased it) if my children are then unable to buy somewhere to live and half their income goes to a rentier in Asia?
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Permalink Reply by EyeSpy on
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Well we could use the approach of no UK or EU citizenship then no sale. Though that opens up another can of worms.
The problem of increasing property prices for the individual is the percieved increase in wealth. That is all it really is a perception.
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Not a perception if one can exercise the option to sell and capitalise on the increase in value. That's why it's a property market, not an idea.
You can impose citizenship limits, but can do little to control foreign capital being allocated to collective property investments e.g. funds...
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John. It's a well documented fact that it's not foreign rentiers, but the home-grown baby-boomer variety that make up the majority of private landlords in the UK. Whilst I sympathise with your concerns about the future of your family, I think you need to re-target your frustrations...
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With new build flats in London, it is. I like putting links in for my "well documented facts".
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"Landlords tended to own rental units in the region where they lived; if they owned
property elsewhere it was usually in adjoining regions. The most commonly owned
units were flats and terraced houses, with BTL landlords more likely to own these types
than other landlords. " - as I said, this is hiding the distortions in London and the fact that they would not have been able to speak to foreign landlords.
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