Harringay, Haringey - So Good they Spelt it Twice!
Londoners say they have been priced off the property ladder for good
Photograph: Christopher Furlong
Six in ten Londoners who rent their home and half of all private renters say they do not believe they will ever get a foot on the housing ladder in the capital, according to a new survey.
The poll, commissioned by London Councils, found that almost three-quarters of Londoners do not believe that there is enough decent housing in the capital, and four in ten of those in private rented accommodation say they would like to be able to move home, but cannot afford to do so.
Ipsos MORI surveyed 954 Londoners last month on behalf of London Councils, the organisation which represents the capital’s 33 local authorities and has campaigned on housing policy and highlighted the shortage of affordable homes to rent and buy across London.
The average house price in March 2012 was £343, 522 (Land Registry figures) – up 0.7% from the previous year.
Rents in London have continued to rise over the past year, with the average monthly rent now £1,032.
The Ipsos MORI research found 82% disagreeing that housing in London would become more affordable over the next two years or so (61% strongly disagreeing) with 78% of private renters taking this view.
Two thirds (62 per cent) have lived in London for more than 20 years and 68% have lived in their current home for more than five years.
While 86% say their home is suitable for their current needs, a fifth of those with children disagree (21%). Among the latter 52% say that if it meant they were able to get better accommodation they would be willing to move out of their area.
This sentiment is also held by 44% of Londoners, rising to 53% of private renters and, thus, 57% of 18-24s and 52% of 25-34s.
London Councils’ Executive Member for Housing, Mayor Sir Steve Bullock, said:
"This poll shows that many Londoners who rent their home feel they have been priced out of the housing market for good.
"London is currently in the throes of a housing crisis and this survey illustrates that there is an acute shortage of affordable accommodation, resulting in rising rents and house prices that are steadily increasing beyond the reach of first time buyers and families who want to rent."
"More new homes need to be built at the right size, in the right place and at the right price, and the market is still not delivering this."
Text from London Councils press release
Replies to This Discussion
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Permalink Reply by pamish on
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Dont worry, 196 rich people / families will be able to move into the borough by 2017. Just what we need. As long as they can make a £300,000+ mortgage, they will be fine. That should sort out the housing need.
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Permalink Reply by Hugh on
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Sold prices - Ladder houses have sold for >£600k & £700k - still great value compared to Crouch End, though.
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Permalink Reply by Malc B on
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Yep it's us bl**dy foreigners coming over and buying all of the land up! Between our neighbour and us it's practically a NZ ghetto on our street... Not sure about the transport links in Crouchie though - I would have thought they were better on the ladder, between the buses, tube and Harringay mainline...
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Agree re transport. I think transport links in Crouch End are why the prices aren't even higher than they already are!
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Permalink Reply by Maddy on
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Actually , given our great transport links, relatively central position and other attractions, I'm surprised this area isn't more expensive. Though I certainly could not afford to buy here if I were starting out now.
This article from Saturday's Guardian shows how extortionate even so-called "affordable" housing is becoming in parts of London: http://www.guardian.co.uk/money/2012/jun/22/affordable-home
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I am perhaps a bit touchy about thus, but I really don't think the problems with the London housing market can be laid at the door of the barbarians at the gate. If you watch this week's episode of the Secret History of Our Streets (available on iplayer, link below), you'll see how low cost housing in some of the more desirable parts of zones 1 & 2 came to be so expensive, and Jonny Foreigner does not feature...
http://www.bbc.co.uk/iplayer/episode/b01kcpfh/The_Secret_History_of...
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Permalink Reply by Ruth on
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I'm not blaming Johnny Foreigner... apologies if that came across.
Nor am I blaming Joanna Midlander or Northerner.. (myself originally from out of town...) and I agree that market has been manipulated to a scandalous extent. Affordable housing is possible. Agree.
Just trying to say that any city/town has finite resources not only housing but transport, schools etc., water etc and currently we are experiencing a population boom. These are adding to the problems of the so called 'market' and its mechanisms -which really means greedy people wanting to make as much dosh from property/finance etc. The market doesnt exist without people so yes, affordable places can soon become inaffordable.
The loss of council housing from late 70s onwards clearly hasnt helped. So much for Mrs T's 'home owning democracy'....
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Permalink Reply by Old-Age-Emporium(OAE) on
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So, back to 1955 prices, Hugh? That seems very sensible.
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Great value relatively speaking Hugh - that is completely irrelevant to those who cannot afford either of the extortionate prices that CE and Harringay command.
Doubt I will ever be able to buy in the area (or London for that matter), which is a shame as I love Harringay, but don't want to be renting forever.
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