Jump to content

UK House prices: News & Views


Recommended Posts

I thought Japan was set to be swallowed by the sea sometime soon anyway*? The advantage being that if your home, being a physical asset, is smaller, you practically lost much less in this scenario, if you survive that particular apocalypse.

 

 

--

*That's what some soothsayers are proclaiming anyway... on "another" thread...

 

What, you mean it didn't happen? :rolleyes:

 

Have to be honest, think it's going to be a grim 2 or 3 months here too (not quite as bad as an apocalypse mind).

 

But then think we might get (dare I say it) a bit of a spring bounce (well, when I say bounce, I actually mean more of a stop to the slow gring down) with the fiscal cliff sorted by then, the US homes market seemingly turning around and the FLS etc kicking in here properly.

Link to comment
Share on other sites

  • Replies 5.3k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

What, you mean it didn't happen?

Have I missed something? I idly read something about the entire landmass disappearing altogether as part of the 2012 shenanigans. I was under the impression the geographical country of Japan did still exist at this exact juncture of time/space. But what do I know? Anything could happen in the next 24 hours.

Link to comment
Share on other sites

I thought Japan was set to be swallowed by the sea sometime soon anyway*? .

 

You may find this astounding (I do) but 17% of useable land (ie not mountains of which Japan is 72%) WAS swallowed/reclaimed BY the sea. Much of that 17% SUNK and wont be coming back.

The expected nankai quake could be far more devastating.

Link to comment
Share on other sites

You may find this astounding (I do) but 17% of useable land (ie not mountains of which Japan is 72%) WAS swallowed/reclaimed BY the sea. Much of that 17% SUNK and wont be coming back.

The expected nankai quake could be far more devastating.

Hmm

When did that happen, J. ?

Link to comment
Share on other sites

Hmm

When did that happen, J. ?

3.11, quake and Tsunami.

 

Land subsidence

 

 

220px-Subsidence_in_Shin-Urayasu_Sta_after_2011_Sendai_earthquake.JPG

 

magnify-clip.pngLand subsidence and soil liquefaction near Shin-Urayasu Station elevator shaft

Geospatial Information Authority of Japan reported land subsidence on the height of triangulation station measured by GPS from previous value on 14 April 2011.[160]

Scientists say that the subsidence is permanent. As a result, the communities in question are now more susceptible to flooding during high tides

 

 

 

Geography of Japan

 

From Wikipedia, the free encyclopedia

Jump to: navigation, search Geography of Japan 250px-Satellite_View_of_Japan_1999.jpg Region East Asia Coordinates 17px-WMA_button2b.png36°N 138°E Area Ranked 62nd

377,923.14 km2 (145,916.94 sq mi)

99.18% land

0.82% water

. There are also 2,456 islands,[2] including Okinawa, and islets, some inhabited and others uninhabited. In total, as of 2006, Japan's territory is 377,923.1 km2 (145,916.9 sq mi), of which 374,834 km2 (144,724 sq mi) is land and 3,091 km2 (1,193 sq mi) water. This makes Japan's total area slightly smaller than the U.S. state of Montana, and slightly larger than Finland.

Location: Eastern Asia, island chain between the North Pacific Ocean and the Sea of Japan, east of the Korean Peninsula.

Map references: Asia

Area:

  • total: 377,835 km²
  • land: 374,744 km²
  • water: 3,091 km²
  • .

Climate: varies from tropical in south to cool temperate in north

Terrain: mostly rugged and mountainous

Natural resources: small deposits of coal, oil, iron and minerals. Major fishing industry.

Land use:

  • arable land: 11%
  • permanent crops: 1%
  • permanent pastures: 2%
  • forests and woodland: 68%[3]
  • other: 18% (1993 est.)

Irrigated land: 27,820 km² (1993 est.) 73% of Japan is mountains

Link to comment
Share on other sites

So.. Japan is .377,923.14 km2 (145,916.94 sq mi), of which 14% is useable/growable/livable-ie so very little. 17% of that was lost in the quake and the tsunami. I am not sure if this includes contaminated land from the Fukushima fallout.

 

The affected coastline was 500 odd miles long and in some places the waters travelled 10km onshore, with max heights of 39m. That's not a typo.

 

 

Geophysical effects

 

The quake moved portions of northeastern Japan by as much as 2.4 m (7.9 ft) closer to North America,[18][19] making portions of Japan's landmass wider than before.[19] Portions of Japan closest to the epicenter experienced the largest shifts.[19] A 400 km (250 mi) stretch of coastline dropped vertically by 0.6 m (2.0 ft), allowing the tsunami to travel farther and faster onto land.[19] One early estimate suggested that the Pacific plate may have moved westward by up to 20 m (66 ft),[63] and another early estimate put the amount of slippage at as much as 40 m (130 ft).[64] On 6 April the Japanese coast guard said that the quake shifted the seabed near the epicenter 24 meters (79 ft) and elevated the seabed off the coast of Miyagi prefecture by 3 meters.[65] A report by the Japan Agency for Marine-Earth Science and Technology, published in Science on 2 December 2011, concluded that the seabed in the area between the epicenter and the Japan Trench moved 50 meters east-southeast and rose about 7 meters as a result of the quake. The report also stated that the quake had caused several major landslides on the seabed in the affected area.[66]

 

220px-Soil-liquefaction_at_Shinkiba_after_after_2011_Tohoku_Pacific_Ocean_offshore_earthquake.jpg

 

magnify-clip.pngSoil liquefaction in Koto, Tokyo

The earthquake shifted the Earth's axis by estimates of between 10 cm (4 in) and 25 cm (10 in).[18][19][20] This deviation led to a number of small planetary changes, including the length of a day, the tilt of the Earth, and the Chandler wobble.[20] The speed of the Earth's rotation increased, shortening the day by 1.8 microseconds due to the redistribution of Earth's mass.[67] The axial shift was caused by the redistribution of mass on the Earth's surface, which changed the planet's moment of inertia. Because of conservation of angular momentum, such changes of inertia result in small changes to the Earth's rate of rotation.[68] These are expected changes[20] for an earthquake of this magnitude.[18][67]

Soil liquefaction was evident in areas of reclaimed land around Tokyo, particularly in Urayasu,[69][70] Chiba City, Funabashi, Narashino (all in Chiba Prefecture) and in the Koto, Edogawa, Minato, Chūō, and Ōta Wards of Tokyo.

Link to comment
Share on other sites

Wow.

I did not realise that so much was lost in the incident.

 

My prayers go out to the people of Japan

 

Clif High believes the planet is growing.

But even if he is right, it does not mean that all countries, or even most countries are gaining land

Link to comment
Share on other sites

Open land can solve housing shortage, says minister

 

Increasing the amount of developed land by a third would address the housing shortage, according to Planning Minister Nick Boles.

He told BBC Newsnight building on another 2-3% of the land in England - bringing the total to about 12% - would "solve the housing problem."

http://www.bbc.co.uk...litics-20510692

 

But then have a look all at the highest rated comments.

 

Nimby extremists are out in force.

 

They really don't get it, the ignorance is shocking <_< .

 

Most of these people will probably never sell their beloved houses, so any fall in price that might occur with a massive building programme wouldn't actually affect them. Indeed, it would let their children afford a house without having to tap the bank of mum and dad (i.e them).

 

Then, for those wanting to move up the ladder, their next house would be cheaper.

 

It would free up money for the real economy, instead of ever increasing interest (+ skim) payments to the banksters as we've seen over the last decade or so as prices rose.

Link to comment
Share on other sites

Haven't people in the UK yet worked out that the Boomers are going to Downsize??

 

Why stay in London, when you can get something nicer elsewhere for half the price?

Link to comment
Share on other sites

Haven't people in the UK yet worked out that the Boomers are going to Downsize??

 

Why stay in London, when you can get something nicer elsewhere for half the price?

 

Because they don't tend to do that here.

 

Boomers are quite happy to sit in their big houses, with their big gold plated pensions.

(Plus they think London is the greatest place in the world)

Link to comment
Share on other sites

Increasing London property prices fuelled by offshore buyers

 

The Finance Pages-by Jon Li-20 hours ago

Tax evasion hits new high in Britain

...as rich overseas property buyers are focusing their purchases on prime central London property by avoiding taxes, thus making huge profits which in turn drives up property prices, according to an investigation led by the Guardian and the Washington based International Consortium of Investigative Journalists (ICIJ).

 

The Guradian’s investigation along with ICIJ covered nearly 60 sample premises which showed an alarming number of buyers acquiring more number of luxury homes in London. While some buyers lived abroad, some were dwelling in the UK itself, while building property empires using artificial practices such as avoiding inheritance tax, capital gains tax and stamp duty.

 

Since 2009, the UK property prices have risen 49% in prime central London, which is five times more than the rest of the UK, according to estate agents Knight Frank. Guardian reports that in 2011 alone, more than £7bn of offshore money flooded into potentially tax-exempt purchases of UK houses, flats and office blocks.

The UK government allows property buyers to hide their identities on the official Land Registry. Moreover, overseas entities do not pay any tax on the proceeds of property speculation, unlike resident Britons.

Link to comment
Share on other sites

Because they don't tend to do that here.

 

Boomers are quite happy to sit in their big houses, with their big gold plated pensions.

(Plus they think London is the greatest place in the world)

Haha

They may change their minds, if they are late in the great exodus

Link to comment
Share on other sites

Two articles giving a very different picture for London....

http://www.home.co.u...s_london_agency

http://www.home.co.u...rices_warns_age

Rents and prices too high? This is the agents talking.....!

 

Hmm.

Seems like they are trying to give a big hard shove to the normal seasonal dip:

 

Lynn Hilton, Partner for Residential Lettings at Cluttons, said:

'Affordability is now central to the performance of London’s rental market. Landlords cannot achieve the rents they were getting twelve months ago and must now be far more realistic with rent reductions of around 15-20 per cent in order to secure a let.

'Despite a small turn around in rents during the third quarter, our evidence shows that rents have begun retreating once more, highlighting the need for landlords to be realistic in their approach and expectations. Sensible landlords need to accept these reductions to minimise void periods. Greater choice across Central London is no doubt adding to tenants’ bargaining power.'

 

I suppose the landlords should suggest that the agents be "realistic with their commissions", and cut them by 15-20% below normal

Link to comment
Share on other sites

WHY BUY - when Rents are Falling ???

 

Rents in prime central London are falling as job losses bite in the City – but despite this, more rentals are being agreed as would-be buyers become tenants instead.

 

According to Knight Frank, rents fell 0.5% last month, taking the annual rate of decline to 2.7%.

 

News that UBS is to cut up to 3,000 jobs in its London offices, combined with similar moves by Credit Suisse and Deutsche Bank, mean the downward trend is likely to continue, says Knight Frank.

Link to comment
Share on other sites

Haven't people in the UK yet worked out that the Boomers are going to Downsize??

 

Why stay in London, when you can get something nicer elsewhere for half the price?

 

Obviously just an anecdotal observation. I don't know that many people - but quite a few people I have spoken to over the last few months are not downsizing - they are making arrangements to share their accommodation with their kids. Either by extending/adapting/going in to the loft etc. to create separate(ish - not enough for 2 or more council taxes) or by building what are technically 'mobile' homes in the garden.

 

My wife and I are about to apply for planning for a big double storey extension on the side of the house - about 1000 sq ft (which will incorporate one of the pair of garages) which we will move in to. The house will fairly neatly divide into two giving both of our sons their own roughly 1000 sq ft each of 2 bed accommodation.

 

I've mentioned this plan before, on here, but I only repeat it now because it is remarkable how many people I mention my plans to and they are either already considering something similar or, next time I see them, say they're giving the matter serious consideration. We are young baby boomers - just 60 - so most of my peers, like me, have youngish adult children who have missed the property ladder - or are too young to get on it. People 10 years older than us seem to have managed to offload their kids - nearly everyone I know still has their kids living with them.

Link to comment
Share on other sites

It sounds like a smart move.

If you do a good job with that, you may get back all the costs when you sell it.

 

But cashing out, eliminating all mortgage debt, and putting some cash in your bank account can be a smart move too.

Link to comment
Share on other sites

Nationwide out, still down slightly.

 

House prices are still falling slowly, according to the latest figures from the Nationwide building society.

 

Its latest monthly survey says average prices have been unchanged this past month at just under £164,000, and are 1.2% lower than in November last year.

 

http://www.bbc.co.uk...siness-20509192

 

My wife and I are about to apply for planning for a big double storey extension on the side of the house - about 1000 sq ft (which will incorporate one of the pair of garages) which we will move in to. The house will fairly neatly divide into two giving both of our sons their own roughly 1000 sq ft each of 2 bed accommodation.

 

Wow, what a great idea (as long as you all get on that is) you guys will be like the Waltons :D

Link to comment
Share on other sites

Odey sees possible House Price crash

 

City superman Crispin Odey predicted the recession, was once Rupert Murdoch’s son-in-law, manages $5 billion of assets and has a serious problem with the PM.

 

David Cameron is not a leader,” says Crispin Odey, the City financier and Conservative Party donor. “He doesn’t understand power and he doesn’t use it.” These are strong words for a life-long supporter of the party. But he doesn’t stop there. “George [Osborne],” he says, “we hate more than Dave.”

 

By “we” he means the City. And when he follows these unflinching statements up with “David’s a decent person and I know him personally,” it’s clear that he is talking business. And Odey knows about business.

 

This is the man who predicted the recession, and here, in the pink art-lined boardroom of his oak-panelled offices, he delivers another devastating blow: “Property is ludicrously expensive,” he says. “House prices are right at the top of their cycle. I think they could crash. I’m not saying it’ll happen immediately, but I do think they can drop by half.

. . .

Can he see a way out of the current economic gloom? “We have got to get the banks working again. That means the end of bashing the bankers. If there is no credit growth there is no economic growth. The last time we were in a depression was the 1930s, and what got us out was cheap money. We need a zero interest rate and a housing boom.”

 

And so house prices need to come down too? “House prices are not stable. They have a cycle like everything else. America has understood this much earlier than the UK. There, house prices have already fallen by 50 per cent and they are affordable. It goes back to thinking like a rich man: you have to take the long view.”

===

/more: http://www.standard....it-8335027.html

 

 

I met him several years ago, and had conversations about him and his team about working as a Commodity-related fund manager. In fact, he was going to set up a meeting with his wife, saying: "I trust her intuition better than my own when it comes to hiring new people." It looked rather promising. But just then his huge trade on Gilt bonds began to unwind, it quickly became clear he was not going to hire any new people for a while.

 

He's a very bright guy and highly successful, so we should pay attention to his housing call, I believe

Link to comment
Share on other sites

He's a very bright guy and highly successful, so we should pay attention to his housing call, I believe

 

So what do you think about his erm.. "solution"? :rolleyes: (''I'll put it back to full size text, in case it gets skipped over ;) )

 

Should we "pay attention to " this?

 

. . .

Can he see a way out of the current economic gloom? “We have got to get the banks working again. That means the end of bashing the bankers. If there is no credit growth there is no economic growth. The last time we were in a depression was the 1930s, and what got us out was cheap money. We need a zero interest rate and a housing boom.

 

:lol:

 

He's a bankster FFS, he's gonna hate anyone that doesn't let them get all their own way, all the time.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...