How to buy an affordable home in London - BBC London

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  • Опубликовано: 18 окт 2024
  • Housing in London is expensive. But now there's a scheme which allows you to buy a home in the capital for just more than £200,000.
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Комментарии • 533

  • @bbclondon
    @bbclondon  5 лет назад +7

    Subscribe to BBC London here: bit.ly/2Gd18gB

  • @LevelUP84
    @LevelUP84 5 лет назад +520

    AVOID SHARED OWNERSHIP AND LEASEHOLDS LIKE THE PLAGUE.

    • @ambitionsskyyyy
      @ambitionsskyyyy 5 лет назад +65

      I agree, and when buying a leasehold. Make sure there is no less than 85 years on it, as it can become problematic and very expensive if the leasehold time falls below 80 years. A lot of people aren’t aware.

    • @thetelephoneprankster4254
      @thetelephoneprankster4254 5 лет назад +12

      Boi Because you might live longer than that

    • @voltarianone2186
      @voltarianone2186 5 лет назад +37

      That's true. A shared ownership home is hard to sell and it's hard to buy more shares. I learnt this the hard way.

    • @kopend8638
      @kopend8638 5 лет назад +10

      @@voltarianone2186 thanks for the advice. i was planning on doing this. this is the only option for many people.

    • @shiningstar7775
      @shiningstar7775 5 лет назад +3

      Agree - you end up living with social cases.

  • @emmaphilo4049
    @emmaphilo4049 5 лет назад +462

    How to buy an affordable home in London... Well you can't

    • @oldbatwit5102
      @oldbatwit5102 5 лет назад +5

      Correct, alas.

    • @turtlegeneral
      @turtlegeneral 5 лет назад +15

      well, just be rich🤷🏻‍♂️

    • @emmaphilo4049
      @emmaphilo4049 4 года назад +10

      @@turtlegeneral indeed but that' s defeating the notion of 'affordable' in itself loooooollll

    • @britishsecondarylife7548
      @britishsecondarylife7548 4 года назад

      Thurrock and Chelmsford are way cheaper

  • @SweetandFitting
    @SweetandFitting 3 года назад +109

    Step one: first become a millionaire.

    • @crikxouba
      @crikxouba 3 года назад +8

      step two: Move out of London

    • @blaqueruby4946
      @blaqueruby4946 2 месяца назад

      Step three: Dont drink, don’t eat, and definitely don’t have children

  • @H11DUH
    @H11DUH 5 лет назад +199

    The wider issue with housing is the demand in London is outrageous, the market is controlled by the simple logic of supply and demand. Building in London alone, on every available space won’t cure the issue but only exacerbate it. The wider issue is the UK needs more focus and development than us focusing on london as the central city hub. Did you know london alone contribute around 30% GDP out of the whole of the UK. Companies need more reasons to open up in other cities, people need reasons to move out and help develop other cities with their experiences and walk of life. You keep the farmers in one town, the rich in another it clearly isn’t working. Societies need mixing and I feel most places aside from London, Manchester are far from this. This country has so much more potential and we’re using a drop in the ocean. In my opinion.

    • @ModernTriicks
      @ModernTriicks 5 лет назад +4

      I can tell you’ve done economics at school lo l

    • @H11DUH
      @H11DUH 5 лет назад +10

      0riginal dropped out of college at 18 never studied economics. But I do have years of experience in the London market

    • @bluceree7312
      @bluceree7312 5 лет назад

      And after Brexit, things will...........

    • @H11DUH
      @H11DUH 5 лет назад +3

      Zen Mate short term suffering for long term gain.

    • @susanneyuk-pingpong8705
      @susanneyuk-pingpong8705 5 лет назад +2

      @@ModernTriicks have you studied economics? At any level?

  • @Linnie210
    @Linnie210 5 лет назад +23

    I think the UK can learn a bit from the Dutch housing policy. A lot of people don't want to leave public housing until they are ready to buy because rent is controlled and the housing well maintained.

    • @Y34HN0
      @Y34HN0 5 лет назад +4

      I love the Netherlands. Compared to the UK, it's basically some kind of alternate utopian society. When I've gone on holiday there it makes me so sad when I have to return, because it's what the UK could have been.

  • @jennyhugelibrarys6543
    @jennyhugelibrarys6543 5 лет назад +248

    ‘Confrontational mice’ 🤣

    • @ajmalelhani4567
      @ajmalelhani4567 5 лет назад +10

      London, what do you expect 😂😂

    • @MovingT5
      @MovingT5 4 года назад +2

      lmao!!! flipping funny

    • @JR-gz9gp
      @JR-gz9gp 4 года назад +11

      Mice that will intimidate you and steal your food while you are having dinner.

    • @Levi-iv3nm
      @Levi-iv3nm 4 года назад +2

      @@JR-gz9gp 😂😂

  • @JonnyRootsDem
    @JonnyRootsDem 5 лет назад +65

    Born and bred in hackney london, I moved out after 40 years in the city. London ain't for working people anymore, it's an investment haven for the foreign rich. I wonder if that place in bow is the old mental hospital at mile end.

    • @manlikehussain8663
      @manlikehussain8663 5 лет назад +5

      Yes it is. St clements mile end.

    • @user-ei7ed6zy9k
      @user-ei7ed6zy9k 3 года назад +1

      Born and still live in Hackney after 20 years. I’d say 4/5 people weren’t living here 5 years ago. It’s all white middle class families now

  • @WhyJustWhy2000
    @WhyJustWhy2000 3 года назад +34

    The real solutions are:
    1) Come down HARD on rouge landlords. Major fines, repairs and remodels entirely funded by them, rent control laws, the whole works
    2) Invest in 2nd tier cities. Everything is hyper-centralised to London. We need jobs in the rest of the country. We'll never have an affordable market in London if every young person is pretty much forced there for a decent wage

    • @haught7576
      @haught7576 2 года назад +1

      Do you think cracking down on landlords would improve accessibility? Needs to be a liberalization of zoning to allow med and high density conversions, which will provide the financial incentive to invest in the rental stock. Rent control is great though

  • @rufdymond
    @rufdymond 5 лет назад +68

    The whole U.K. housing market is broken....the combination of a lack of new affordable accommodation, inflated prices caused by properties being built for foreign investors and thousands of properties that have been left empty for years has created the perfect storm.

    • @andrewf4623
      @andrewf4623 5 лет назад +9

      rufdymond actually houses in the midlands, north and some parts of the south are dirt cheap and very affordable based on local incomes. It’s def not a “whole UK” problem.

    • @PriHL
      @PriHL 5 лет назад +3

      @@andrewf4623 yeah, a cheap house and an absolute nothingness around it. Thank you.

    • @MS45636
      @MS45636 5 лет назад +1

      @@PriHL London is full of smog bad for your health, high crime rates, small amount of green spaces, very high costs. Many people are probably better off living elsewhere in the country.
      Disclaimer: I do like the british museum in london for a visit :P.

    • @PriHL
      @PriHL 3 года назад

      @Yelaa Bob If someone doesn't have the intellectual capacity to bring relevant arguments, they will call other people dumb. I'm sure there are various stores across the UK selling nice mirrors :)

  • @thisistotallyfine
    @thisistotallyfine 5 лет назад +278

    When will it be affordable again?
    You wait until the next market crash

    • @gebys4559
      @gebys4559 5 лет назад +15

      I'm sure it's very easy for most to pay/get mortgage once jobs and salaries are being axed, rich definitely will have spare liquidity to take an advantage of that situation though.

    • @monsterkis
      @monsterkis 5 лет назад +6

      gebys you made zero sense take a seat

    • @icilmaa
      @icilmaa 5 лет назад +28

      With a market crash comes loss of many jobs. Only a few would be able to take advantage.

    • @kieranboast6355
      @kieranboast6355 5 лет назад +5

      House prices in London are falling currently I believe, but the issue is the prices are still so high people are being priced out

    • @usaamahriaz8277
      @usaamahriaz8277 5 лет назад +4

      You buy crypto-currency. When there is a market crash, crypto will sky rocket way past all time highs in 2017.

  • @sdrawkcabUK
    @sdrawkcabUK 5 лет назад +56

    Universal Declaration of Human Rights: Article 25, 1: "Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care." Something the UK government forgot about years ago.

    • @simonh6371
      @simonh6371 Год назад +1

      I think they adhere to it but only for non-Brits.

  • @iamdmc
    @iamdmc 5 лет назад +104

    So they're basically your landlord and this is a leasehold. Um thanks

  • @carls7860
    @carls7860 5 лет назад +57

    Moved out after 21 years in August 2018... was getting to be a mug's game... £1250 a month for a bedroom in a house share in Borough? Please...

    • @georgiamurphy5799
      @georgiamurphy5799 5 лет назад +3

      Carl S
      Yes... Many years ago I lived in clanricarde gardens in WW2 Notting Hill gate
      and that's flat is like a couple of million pounds now at the time it was a squat almost...construction workers and students living there and just travelers from Australia and New Zealand and me from San Francisco.
      ..and eventually I moved home to San Francisco the prices here are just totally outrageous don't get started on even talking about San Francisco they had test bastardized this city...except not really because I'm a local and I will always be and I will always know and love the real San Francisco... Too many people have moved into don't care about the city.. they just have treated it like a Disneyland over spending their money and driving working people out... Don't let any of this stuff change who you are the real values that you know as a Londoner and I as a San Franciscan wherever you live

    • @noahhughes2501
      @noahhughes2501 4 года назад +5

      @@georgiamurphy5799 they've done it everywhere. Edinburgh hogmanay no longer a free festival, same with the notting hill carnival

    • @georgiamurphy5799
      @georgiamurphy5799 4 года назад

      @@noahhughes2501 wow!!!!

    • @zuzanna1456
      @zuzanna1456 3 года назад +1

      £1250 for 1 bed in Colindale with patio huge living room

    • @Lady_Tee15
      @Lady_Tee15 3 года назад

      @@zuzanna1456 So crazy!!

  • @samuelolaogun9044
    @samuelolaogun9044 5 лет назад +74

    Greedy and selfishness is the roots of cost in London.

    • @EA-jg2ye
      @EA-jg2ye 5 лет назад +7

      George S stop beating around the bush, just explicitly say you are a racist and you don’t like foreigners in your country. You need help jeez

    • @samuelolaogun9044
      @samuelolaogun9044 5 лет назад +24

      @George S I'm not leaving in UK and I will never even though I used to, there's nothing British can offer anybody because you have nothing without your past, your grandfather goes around the world to stealing, looting, killing and above all colonised peoples with force. Tell me what makes great Britain, Oil, diamonds gold or silver? Only what left with you people is taxes case closed.

    • @1dogissky
      @1dogissky 4 года назад

      Flek Yejaui well explain how he’s wrong then. Everything he said was facts.

    • @simonh6371
      @simonh6371 Год назад

      Greed and selfishness is the spirit of London unfortunately.

  • @mozdickson
    @mozdickson 5 лет назад +58

    I spent a few weeks in London last year. What I noticed is tons of old empty dilapidated buildings. These should be renovated or pulled down, set deadlines on owners. Free up the ample space. Use policy levers, hard!

    • @Rebecca-un4ib
      @Rebecca-un4ib 5 лет назад +11

      adventuresinbelieving lots of buildings are registered and can’t be knocked down because they are historic

    • @chownh860
      @chownh860 5 лет назад +15

      These properties are mostly land banked by wealthy investors who can afford to sit on them.

    • @awpetersen5909
      @awpetersen5909 5 лет назад +4

      Everywhere the same. Greed reigns humanity it seems. Greetings from Germany and good luck to my British neighbours.

    • @noahhughes2501
      @noahhughes2501 4 года назад

      @@Rebecca-un4ib then renovate

    • @noahhughes2501
      @noahhughes2501 4 года назад

      @@Rebecca-un4ib yes, they can. The government advocates it and often does it themselves for buildings that are listed but derelict.

  • @geetpeetnsnsnjj2192
    @geetpeetnsnsnjj2192 5 лет назад +76

    Why even live in London... i've moved out from there and I can happily say it's the best thing I've ever done! Seriously have a look at living in other cities or even countries!

    • @andi00p41
      @andi00p41 4 года назад +26

      You need money to move 🙄 every city in the UK outside of London is boring and for old people.

    • @neonskyline1
      @neonskyline1 4 года назад +1

      Exactly

    • @RK-ep8qy
      @RK-ep8qy 4 года назад +5

      @@andi00p41 it isn't but okay, you live in your little London bubble

    • @paulgerg6879
      @paulgerg6879 4 года назад +13

      If they live in their London bubble it keeps our house prices lower, so definitely stay there.

    • @RK-ep8qy
      @RK-ep8qy 4 года назад +1

      @@paulgerg6879 that's a good way to look at it

  • @umark7442
    @umark7442 5 лет назад +22

    The best way is to opt out of it completely. A friend of mine recently got so sick of all the housing nonsense that he bought a van, made it livable along with a fancy gym membership and now has money to burn and is literally free to do whatever he likes. If I was single and childless I'd definitely do the same. His van is like a mini hotel with a tempur mattress, projector screen, fridge etc.

    • @Videpedia101
      @Videpedia101 3 года назад

      Until Covid comes along...

    • @umark7442
      @umark7442 3 года назад +7

      @@Videpedia101 he's still doing well, he's working remotely and has driven the van back to his parents place and uses it as his remote office.

    • @Beetless
      @Beetless 2 года назад

      @@umark7442 ok, is he my son?

    • @soraninja
      @soraninja Год назад

      I would genuinely love to learn how to do this! Please give us his contacts lol

    • @umark7442
      @umark7442 Год назад

      @@soraninja there are loads of "van life" videos here on RUclips. Take a look.

  • @PikaBluberry
    @PikaBluberry 4 года назад +8

    The words London and Affordable are never allowed in the same sentence

  • @boogiedownbronx73
    @boogiedownbronx73 5 лет назад +26

    left London in 2014 and I am glad I did. Over crowded, overrated, expensive.

    • @ManimalDetroit
      @ManimalDetroit 3 года назад

      I wouldn’t ever live there. I think that place just looks depressing

    • @simonh6371
      @simonh6371 Год назад

      @@ManimalDetroit It doesn't just look depressing, it sounds, smells and feels depressing. Unless you're very clever with shopping it even tastes depresssing.

  • @mynamejeff8394
    @mynamejeff8394 5 лет назад +11

    I left London after living there for 20 years and I’ve never felt better !

    • @anelt2817
      @anelt2817 3 года назад

      I don't want to leave! Everybody around me say i should...

    • @mynamejeff8394
      @mynamejeff8394 3 года назад +1

      @@anelt2817 Well stay if you are happy darling 👍🏻

  • @hwica2753
    @hwica2753 5 лет назад +21

    Encouraging people to stay in London exasterbates the problem. Wealth needs to be distributed across the country.

  • @LevelUP84
    @LevelUP84 5 лет назад +40

    200k is not affordable for me. I only earn 21k a year. I would struggle to get a 120k mortgage. I can only afford to buy a freehold house in the midlands or up north. I have no family and no friends up there and my job is in London.

    • @bluceree7312
      @bluceree7312 5 лет назад +6

      @Europe Zacbol The average salary to be able to afford the average house in London is actually 84k. This has been reported many times. So unfortunately redrum is working in London to serve the rich people who can afford to own property there but they will ask him to kindly bugger off to were he and the rest of the plebs belong - out in the sticks. That is why I left - it is not a society I want to be part of.

    • @icydsting6037
      @icydsting6037 5 лет назад +1

      Europe Zacbol thing is if you move out of London then yes you can pay less for a house or rent.... but your job will also pay you less then if you lived in London so it works out the same regardless.

    • @bluceree7312
      @bluceree7312 5 лет назад +3

      @@icydsting6037 Nurses and other public servants are paid the same, with slight adjustment for London that is not enough. A couple of senior nurses on an NHS salary cannot own a house and raise a family in London, unless they get help from others. That is just a fact. So lets hope a rich person in London does need a nurse's service because they will be on their way home outside the city.

    • @simonh6371
      @simonh6371 Год назад

      @@icydsting6037 That's not true for people on minimum wage like the commenter probably is, contrary to popular belief the minimum wage is the same all over the country. Jobs don't pay less outside London, but it's true that SOME of the higher paying jobs are in London...types of work which don't exist in other parts of the country.

  • @HORNETSTV1881
    @HORNETSTV1881 5 лет назад +90

    I'm 27 and i still live at home why cant the government step in and help youngsters start there lives in london

    • @tobsstone
      @tobsstone 5 лет назад +41

      Government don't owe you anything. Stop asking for handouts

    • @ambitionsskyyyy
      @ambitionsskyyyy 5 лет назад +64

      Bots Nots you are what’s wrong with this country.

    • @hkntns
      @hkntns 5 лет назад +41

      @@tobsstone If you pay taxes, you are entiteld to rights.

    • @gozuam1617
      @gozuam1617 5 лет назад +5

      DANNY H They need to build a load more homes to drive the prices down but I doubt that will happen.
      IMO it is a mess, because of the prices for some (or most?) the options are moving out in a house share (or a room in someone else's home), which unless your parents give you silly rules, and/or no freedom are a waste of money and no different and sometimes worse then living at your own home.
      The next option is moving out when (or if) you find a partner as you can split the cost.
      The final option is staying at home, helping to pay the bills that your parents will eventually not be able to afford, or if your parents are young (so are both still working, so need less of your money) you could consider building an extension or outhouse for yourself which are at least 8k, or if your parents haven't got a mortgage you could start one with them.... maybe this is the way for millennials and genZ to have their own space. 😢

    • @tobsstone
      @tobsstone 5 лет назад +9

      @@ambitionsskyyyy You are probably a stupid young socialist. Go to Russia and ask them about Socialism and see how the older generation think about this. The government should of course have more affordable housing, but for someone to just expect the government 'step in' and help young people move to london is ridiculous.

  • @JustOneQuestionWhy
    @JustOneQuestionWhy 3 года назад +19

    Not a sustainable solution to the housing crisis

    • @Boner_Champ69
      @Boner_Champ69 3 года назад +1

      It’s a step forward to it. You have to start somewhere.

  • @lovenurtures3724
    @lovenurtures3724 5 лет назад +107

    London flats are lunchboxes. Period.

    • @IamAnnety
      @IamAnnety 5 лет назад

      😱😱🤣🤣😂😹😹🤫🤫

    • @rayhankareem6360
      @rayhankareem6360 5 лет назад +4

      Its perfect for a 20 year old

    • @noahhughes2501
      @noahhughes2501 4 года назад

      @liar fighter are you actually expecting a garden in somewhere like London though

    • @noahhughes2501
      @noahhughes2501 4 года назад +1

      @liar fighter don't think it takes an expert to realise you aren't going to get a back garden in the centre of a city with a population larger than Scotland.

    • @sportsman2103
      @sportsman2103 4 года назад

      That why I move out to buy real home.

  • @danh5637
    @danh5637 Год назад +1

    i don’t understand why people cling to staying in london when they’re not in jobs that pay them enough to do stuff. buying a place is just going to prolong the suffering once you get a mortgage you can’t afford and the years roll by and you’ll feel none of the fun stuff to do in life as you won’t be able to afford it. it’s just a very peculiar stockholm syndrome situation.

  • @timmotytimmoty
    @timmotytimmoty 5 лет назад +16

    It just stresses me out watching people talking about housing problems in London

    • @SandymoorFerrariClub
      @SandymoorFerrariClub 4 года назад +1

      Since I don't live in London, I find it fun to listen to Londoners cry about their living costs.

    • @mdrocks7842
      @mdrocks7842 4 года назад +7

      @@SandymoorFerrariClub your comment match's the theme of your profile name very big brain moment

    • @Mgameing123
      @Mgameing123 Год назад

      @@SandymoorFerrariClub Londoners probs don't want to move because they like where they live.

  • @ernestkj
    @ernestkj 5 лет назад +28

    Move all government administration out of London? Start small industry/business towns outside 2 hours of London? Spread the love out? Build more public housing?

    • @andrewmillar8153
      @andrewmillar8153 5 лет назад +2

      Well said, in this day with great broadband connection , there's no difference in communication with each other, plenty of space in Birmingham Leeds Manchester Liverpool Newcastle Belfast Glasgow Cardiff Swansea , spread the wealth out of the home counties

  • @mtghd1432
    @mtghd1432 4 года назад +12

    Simply answer, *YOU CAN’T*

  • @maccybear8093
    @maccybear8093 5 лет назад +13

    My flat in London has gone up in price by 120% in the last six years. That's disgusting. It's shameful for me. I hope for a massive crash in property prices. I'd be happy with a 120% crash.

    • @maccybear8093
      @maccybear8093 5 лет назад +5

      Haha I take that back, maybe just a 60% crash in price.

    • @greaterbayareahero1401
      @greaterbayareahero1401 4 года назад +5

      Why not sell it to me for 60% less. Put your money where your mouth is!

  • @beaky84
    @beaky84 5 лет назад +8

    London is for the rich. Despite an imminent market crash the house prices will never tumble that dramatically where is actually becomes affordable.
    A lot of people rent in London however as time passes they wisen up and realise they can’t afford to buy. They either rent forever or move out.
    London is one of the most appealing cities in the world and property prices will always increase. A lot people hate London due to overpopulation and prefer to live in other cities in the UK which is a known fact. London does however attract some of the most creative / intelligent minds from across the world to build restaurants, bars and all sorts of entertainment for its residents which no other UK city can compare - fact. This is only just one of the reasons why everybody wants to come here and I’m not even factoring the job opportunities here.
    Living in London isn’t easy as not everyone is built to survive in it. London is continuously evolving so keep up as it won’t wait for anyone

    • @simonh6371
      @simonh6371 Год назад

      London is one of the most appalling cities in the world. LItter everywhere, antisocial people of all classes. It's for the rich, and people who are so empty they have to pretend to be rich, at the expense of their health and mental well being.

  • @amairakahn554
    @amairakahn554 5 лет назад +43

    houses used ro be really affordable ... and same houses have trippled in prices .. and we have to suffer n make others richer

  • @AuntyM66
    @AuntyM66 5 лет назад +77

    It might be haunted.

    • @wtfstudioinc.1827
      @wtfstudioinc.1827 5 лет назад +6

      AuntyM66 I don’t mind. Atleast I will not be alone.

    • @deelot1
      @deelot1 5 лет назад +6

      AuntyM66 That was the first thing I thought too lol.

    • @notroll1279
      @notroll1279 5 лет назад +1

      Sounds fun!

    • @IamAnnety
      @IamAnnety 5 лет назад +2

      Lol

  • @barryjatkinson
    @barryjatkinson 5 лет назад +8

    Inefficient and poorly managed housing associations with bizarre and inconsistent policies have added to the problem. I cannot think of one that could be considered "well run".

  • @mlindalina1
    @mlindalina1 5 лет назад +5

    The population of people living in London outweighs the amount of homes available. So of course it's going to be at competitive prices. The only sad part is that there are many homes bought in London (leisure purposes) by wealthy people which a left vacant most of the time.

  • @Zen_Power
    @Zen_Power 5 лет назад +16

    I would just leave London if I wanted to buy property.

    • @MS45636
      @MS45636 5 лет назад +2

      London is full of smog and bad for health anyway. Higher crime and high property prices. You get paid more there job wise but are worse off in quality of life - seems pointless.

    • @Zen_Power
      @Zen_Power 4 года назад

      James Smith 150k could buy you a 4 bed detached house and nice garden in some places. The variance is huge.

    • @MS45636
      @MS45636 4 года назад

      @UCFoJI-ZzOPKH12P-3SkfuPQ Once you've had kids you lose freedoms and have to suffer whatever consequences that brings for the sake of the child. All things like jobs/social life can be found anywhere or if not you suffer consequences.
      The internet/technology will eventually solve the jobs "elsewhere" problem since you'll be able to work many more jobs from anywhere.

  • @usopp6996
    @usopp6996 4 года назад +3

    You can’t. Just buy a house outside of London and travel 1 hour everyday to work to London.

  • @ciaranrowe6477
    @ciaranrowe6477 Год назад +1

    Imagine £200k being cheap for a house 😂 . I bought mine in an affluent area for £135k. Leave the South East and you get more

  • @teleopinions1367
    @teleopinions1367 5 лет назад +4

    We have a similar housing problem in CA. A 100 year old house (not in the best shape), about 800 sq ft. sells for about $700,000. And, if you want a new condo (flat) you will be lucky to get a 2 BR for about $1 million. In terms of rents, a new 2BR apartment (if you can find one) will start at about $3200 . That would probably be on the ground or 1st floor with no views whatsoever. Then, the rents go up depending on what floor you are on and the views you get. It's ridiculous. Having said that, we have three things you guys don't have; good weather, wild fires, and big earthquakes. 🙂

  • @incognitoincognito7500
    @incognitoincognito7500 4 года назад +11

    easy, just live in a playhouse in a friend's back garden

  • @petekelvin2736
    @petekelvin2736 3 года назад +14

    I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability

    • @petekelvin2736
      @petekelvin2736 3 года назад +9

      Invest globally in bitcoin, gold, silver, forex market, commodities. Just don't be left out and save yourself

    • @micheal9186
      @micheal9186 3 года назад +1

      Beautifully said, I tell my folks these words everyday. It's good to save money but most people don't understand the market moves and tend to be misled in facts like this and always depend on money in the bank.

    • @susanmandy8800
      @susanmandy8800 3 года назад

      Pure wise comment.

    • @petekelvin2736
      @petekelvin2736 3 года назад +1

      @Collins Markson
      Hey, this is a computer age. Peeps who aren't even traders make money from the crypto and forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts?

    • @michealsmith2251
      @michealsmith2251 3 года назад +1

      Very helpful, this is what I needed to hear today.

  • @ruffey1748
    @ruffey1748 3 года назад +2

    What the homeowner explains at 1:30, is what I have wondered for a while. Cheap debt keeps pushing that value of property up. As a person who owns 25% of a flat and then rents the rest, you do not ranks as a typical homeowner would. Your share offers very little leverage it seems. All of this to keep the property market awash with yield, but at what cost?

  •  5 лет назад +18

    Affordable housing is easy. Affordable freehold land, and consequently affordable houses in UK are near impossible.

    • @AK47_.
      @AK47_. 5 лет назад +7

      You're right my friend. I think timing and luck plays a massive part. I brought in 2011 and basically all I do is pay this morgage. But nothing else. I have 2 children and I've only been on one holiday in 8 years. I guess this is my priority. Save like you can't rely on anyone or anything. Hopefully my kids reap the benefits. The is the life I chose...👊🏽

    •  5 лет назад +10

      @@AK47_. I'm on the other end, trying to save up for a plot. Already gave up in the UK, so now looking into my Hungary. Let's not talk about (mental) health, stress, family issues, and all other problems it takes. In short: 10 years in IT, and still no kids around.

    • @AK47_.
      @AK47_. 5 лет назад +8

      @ keep your head. A lot is in how society tries to make us live by their ideology...

    •  5 лет назад +3

      @@AK47_. all the best for you too, your family will appreciate all your hard work.

  • @abdulwahedy5528
    @abdulwahedy5528 3 года назад +2

    I moved to Melbourne and after one year bought a villa for $500k . I hope everyone move like me.

  • @Scottinuk
    @Scottinuk 5 лет назад +4

    London’s population is set to grow further. There isn’t enough land nor people working in construction to keep up with the demand so property will be in high demand & expensive.

    • @hkntns
      @hkntns 5 лет назад +2

      There is land but the density is the problem.

  • @ruffey1748
    @ruffey1748 3 года назад +1

    People talk about Londoners as if we are all the same, but a large majority of people in the city are not even from London. Those of us who were born and raised in London would love to benefit from these types of schemes, and the pandemic has prompted a small exodus of sorts. Rents have stabilised or gone down in some cases. But overall, development is not equally spread across the UK and people are seeking jobs and higher salaries in London. We need to spread investment nationwide, take the pressure off London as the one city of providence, and give more people a fighting chance overall.

  • @apprentice500
    @apprentice500 5 лет назад +18

    I like the aim of this trust to keep key workers.. but a lady that can afford a private rent of £2000 a month getting one?!

    • @madinp1177
      @madinp1177 3 года назад +1

      Right?? That’s this key workers entire salary!

    • @sholaking5027
      @sholaking5027 3 года назад

      It was almost her household's entire salary. Not just hers

  • @lukasczubak6585
    @lukasczubak6585 5 лет назад +17

    I’m 21 y/o from Poland and here’s my take on London’s and UK’s housing market. Or should I call it investment vehicle. I was living in 3 different houses and visited numerous others since I moved here in May 2017 and there were horrible, so much worse than my house in Krakow (which is surprising considering UK has 3 times greater GDP per capita). Thin walls (from cardboard I guess?), creaking floors, unsanitary carpets, no thermo insulation etc. I can’t imagine living long term in such a house, not to mention having family etc. Maybe I don’t have a say bcs I lived well in Poland and got £600k inheritance when I was 18 but it’s just shocking to me that people in one of the richest and most important countries in the world live like this.

    • @factsare3852
      @factsare3852 5 лет назад

      You're London is absolutely not up to standard.

    • @factsare3852
      @factsare3852 5 лет назад

      If you looking to invest you know what to do

    • @Realtalk961
      @Realtalk961 5 лет назад +4

      Lukas Czubak go back to Poland fella

    • @windskm
      @windskm 5 лет назад +5

      The carbon monoxide intoxication part was shocking. Like wtf, how can a home be so unsafe...

    • @lukem6667
      @lukem6667 5 лет назад +1

      Yawn

  • @zubaidakablan6782
    @zubaidakablan6782 5 лет назад +3

    I like house with garden and back yeard, full of roses , and some kind of lavender.

  • @kristinesharp6286
    @kristinesharp6286 4 года назад +9

    No home for a family should be more than 4 times annual earnings.it’s a failed economy.

  • @chrysg5374
    @chrysg5374 5 лет назад +3

    I wish there were such programs in other Boroughs as well.

  • @bilalameer9706
    @bilalameer9706 4 года назад +9

    5:21 Very confrontational mice lol...crazy stuff bud

  • @cherryg44477
    @cherryg44477 5 лет назад +3

    It’s sounds great somebody can buy as affordable house, but how to make it a fairly when it come to sale: only affordable buyers can buy, or sold out as open market prices later, created another unfair problem (which is how excouncil house was ended up nowadays)

  • @kitzya1354
    @kitzya1354 5 лет назад +2

    The problem with shared ownership is that you are not only paying mortgage on the 200,000 you own, you're paying rent on the 200,000 you *don't*. In flats you also have ground rent/service charge on top of that. It can add up to more than the mortgage on a property worth twice the price.

  • @robinsonhomesltd5542
    @robinsonhomesltd5542 5 лет назад +4

    WHAT.......Unbelievable in London,We have large detached houses with woodland and river views for 550k

    • @worshipthecreator9081
      @worshipthecreator9081 3 года назад +3

      In Northern Ireland you will get a 5 bed, 3 living rooms, dining room which seats 12, very large kitchen, utility room, 2 bath, downstairs loo, extra large garden with triple size detached garage for £325-350,000... with private space.

  • @JR-jj2dh
    @JR-jj2dh 5 лет назад +7

    This will have next to nothing in terms of impact on housing market there, it’s broken beyond repair.
    It won’t be long before we hear of a scandal involving the sale of some of these homes at a premium. Happens with every supposedly ‘special’ housing scheme. They should just rent them to avoid any such scandals.
    London is a hot bed for money laundering from around the planet and I don’t mean the usual type that’s rammed down our throats regarding the local drug dealers, I am referring to true money laundering by corrupt regimes, politicians, state bankers etc this along with a willingness to allow anyone from anywhere to but London property has had a profound impact on prices and locals.
    The selling off of council houses at hugely discounted rates was also a scandal that has had a terrible impact on the market and will continue to do so for decades.
    And lastly, we have a breeding problem, too many humans breeding more humans without any proper thought as to what their doing adds to population problem that’s strangling the planet and leads to increased demand on supply.

  • @matthewclifford4870
    @matthewclifford4870 5 лет назад +7

    Focus development outside of London

  • @Iamharryparker
    @Iamharryparker 5 лет назад +3

    Great to see but WHY aren't the government doing more like this?

  • @Consistent30
    @Consistent30 5 лет назад +7

    Mortgages are overrated and not a good investment

    • @globohobo
      @globohobo 4 года назад

      Stock market shares are a much better investment

  • @lizziebooth5397
    @lizziebooth5397 4 года назад +11

    Fully expected this to be 8 minutes of a boomer laughing at me

  • @gilesdunk7416
    @gilesdunk7416 4 года назад +2

    A government that cared about housing would do something about high land prices that are fixed by a tiny minority of landowners. Maybe if a large enough number of Teachers and Nurses + other key workers were to up sticks and move out of London and the south east the government would be forced to do something about expensive housing.

  • @anisah4u21
    @anisah4u21 3 года назад +2

    I live near this building. It’s gorgeous

  • @NomanSajidYT
    @NomanSajidYT 4 года назад +1

    So if the average house price in London is £600,000 what about other cities in England are they affordable or just a bit cheaper?

    • @ДжакетиЛув
      @ДжакетиЛув 3 года назад

      In Liverpool you can get a decent 2 bedroom flat in the city centre for around 140'000 pounds.

  • @keyboarddancers7751
    @keyboarddancers7751 4 года назад +1

    There are thousands of homes being constructed in London but most of them are for ultra rich foriegn investors; (check out the Chinese hoardings on several huge construction sites right now including the old Battersea power station site). Look at the newly constructed blocks of flats at night and see how few have any lights on because there's nobody there. Construction contracting companies will never waste their time building a so called affordable one bedroom flat for £130k when they can do exactly the same work and get over half a £million for the same property. I like London but I could never live there because I don't earn enough money. Many like me face a similar choice and London is already changing into an exclusive giant enclave for rich people.

  • @Mrlistenandlearn
    @Mrlistenandlearn 3 года назад +1

    I hope when the sellers go to sell, it will be at a reduced rate to the buyer- play it forward

  • @smellypunks
    @smellypunks 4 года назад +1

    23 flats is a joke we need 60000 new house every year!! Only 30000 are being built each year. So so much more needs to be done.

  • @davesingh4099
    @davesingh4099 5 лет назад

    To be able to apply for one of the 23 community land trust homes at St Clement’s you have to meet the following criteria set by the London CLT:
    You can get a mortgage offer and your household income is between:
    £22,500 - £45,000 for a 1 bedroom
    £30,000 - £60,000 for a 2 bedroom
    £37,500 - £75,000 for a 3 bedroom
    This home will be your only residence
    Your current home does not meet your basic needs
    You have a strong connection to Tower Hamlets lasting more than 5 years
    You are involved in your local community in Tower Hamlets
    You commit to learn about and support the work of London Community Land Trust

  • @gm836
    @gm836 4 года назад +2

    Wouldn’t wanna buy a house anywhere else though. London is London. Can’t beat it.

  • @BigDudeSuperstar
    @BigDudeSuperstar 5 лет назад +1

    Wow, what an attractive reporter. And turns out, she's 57 - Hard at work, inspiring!

  • @shehanp3690
    @shehanp3690 5 лет назад +1

    This is ridiculous and unsustainable! Why do these privileged few people get to buy these premium places with panoramic city views on the cheap whilst millions all over London continue to pay premiums and would love to get one of these... it’s like these guys have just won a lottery

  • @basmondo1
    @basmondo1 5 лет назад +7

    Buy after the cash

  • @brunobarros116
    @brunobarros116 3 года назад +2

    200k you can buy a palace in a lote of places in europe

    • @Jepolla
      @Jepolla 3 года назад

      You can buy a mansion in some countries

    • @manofweed1
      @manofweed1 3 года назад +1

      @@Jepolla The Congo ?

    • @simonh6371
      @simonh6371 Год назад

      @@manofweed1 Well yes Romania is pretty similar.

  • @kylefontenot5937
    @kylefontenot5937 4 года назад

    Require harsher land permits for foreign entities, require more regulated housing conditions so that empty buildings can be repaired and offer housing, increasing supply, and subsidize housing to an extent. I know many don’t like subsidies but subsidies can exist in forms of tax cuts or incentivizing the private sector to drive down prices, etc.

  • @danieia4029
    @danieia4029 3 года назад +1

    A headmaster can’t afford rent in London? What the hell are they doing with their money?

  • @ic6698
    @ic6698 4 года назад +3

    "..hopefully the local wages are going to increase..." OMG 😖😀😀😀

  • @hz4a225
    @hz4a225 3 года назад

    The incentive is good, but there is a catch. When family sells, the owner only earns a portion of the increased property value. The remainder is kept by the trust, and therefore keeping the affordability for future low to moderate income families.

  • @supernova8506
    @supernova8506 5 лет назад +3

    No wonder there was Brexit. Crazy cost of living for the Brits and just frustrated with their circumstance.

  • @theuglykwan
    @theuglykwan 4 года назад

    Would it not be better to build them higher, denser and rent them out at affordable rates?

  • @globohobo
    @globohobo 4 года назад +1

    If you are not deluded by a smaller city, move to Liverpool or Manchester, they are more affordable

  • @Danielevans2
    @Danielevans2 5 лет назад +16

    Just make more homes!! It's as simple as that! Just build up higher!! Singapore got on with it why can't we

    • @MrBoliao98
      @MrBoliao98 5 лет назад +6

      Erm, not necessarily, the issue is with land use, not just building higher. And try moving out 15km from the CBD, see whether you Lot be complaining about the 1.5 hrs commute

    • @Danielevans2
      @Danielevans2 5 лет назад

      @@MrBoliao98 that's long I commute anyway. But I would like to move closer to London

    • @MrBoliao98
      @MrBoliao98 5 лет назад +3

      @@Danielevans2 you lot in the UK are fortunate with your lovely semis and terraced homes, we lot are cooped up in concrete boxes

    • @blade5896
      @blade5896 5 лет назад +1

      What about the environment ?

    • @Danielevans2
      @Danielevans2 5 лет назад

      @@MrBoliao98 mate, it's all about your personal priority. If you want a country hope they go for piss cheap up north, sure it means it's a longer commute or having to change how you work but it's all trade off

  • @salmon_sashimi5137
    @salmon_sashimi5137 5 лет назад

    why wont an investor just buy the whole thing? how do they make a profit...

  • @solidstateresistor2485
    @solidstateresistor2485 3 года назад

    Totally abolishing rent control was a bad move.

  • @caremell
    @caremell 4 года назад

    I live in a quite Metropolis chaos here as well but the housing problem in London totally depressed me.

  • @rebamiah4763
    @rebamiah4763 2 года назад

    I want to buy a 3 bedroom home, how. much of cost and how can I buy ?

  • @bigboyrambo2009
    @bigboyrambo2009 4 года назад +2

    Working class can never buy a home, what is the point in working?

    • @manofweed1
      @manofweed1 3 года назад

      Buy a nice car instead ? Council estate car parks are full of them.

  • @kuzagenvalaydon4601
    @kuzagenvalaydon4601 4 года назад +3

    I thought the lady at 2:49 was doing sign language.

  • @A.D.540
    @A.D.540 3 года назад +1

    so she paid about 250,000 instead of 600,00. lol i wonder how long will it take to save 250,000 from 2022 onward.

  • @omari9593
    @omari9593 4 года назад +1

    How to buy an affordable home in London? Move out of the Uk to another place called London and buy it there because it’s probably a hell of a lot cheaper.

  • @connoryhhhfgbvlk
    @connoryhhhfgbvlk 5 лет назад +3

    Move to Sunderland that will save you money but you will have to go to Newcastle for work.

    • @simonh6371
      @simonh6371 Год назад

      A lot of people living in London commute over an hour to work anyway.

  • @iamdmc
    @iamdmc 5 лет назад +8

    get really really really really lucky then
    cool thanks bbc

  • @willjack6725
    @willjack6725 3 года назад +1

    You lost me at 'former psychiatric hospital'...

  • @pegasus8873
    @pegasus8873 5 лет назад +2

    Who owns the land?

  • @LMays-cu2hp
    @LMays-cu2hp 3 года назад

    Thank you..

  • @MsDamosmum
    @MsDamosmum 3 года назад +3

    And a household shouldn't have to pay taxes that go toward social housing for others before they have met their own monthly housing cost first and foremost - but that is exactly what happens!

  • @tobsstone
    @tobsstone 3 года назад +1

    only a 400 year waiting list

  • @MrSvenovitch
    @MrSvenovitch 4 года назад +5

    Your children have space...yep to become cogs of the machine, a machine where they too won't even be able to afford housing in a few years. Humans are hilarious...

  • @Jepolla
    @Jepolla 3 года назад +2

    I’ll definitely move out of London

  • @kaneworthington
    @kaneworthington 4 года назад +6

    Looks at title
    *Laughs in Northern*

    • @SandymoorFerrariClub
      @SandymoorFerrariClub 4 года назад +2

      A fellow Northerner, come here to laugh at the Londonites?

  • @Nge7stars
    @Nge7stars 5 лет назад +2

    South is getting cheaper