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There has been a general economic crisis when it came to real estate in the past year alone in the United Kingdom, and because of this, there is a risk that selling your property at this moment would be hard- simply because the supply is too high to counter the stable but as of the moment insufficient demand. If your house is one of the ordinary houses that everyone has, then it might even be in more risk in the market because equally ordinary properties are alongside yours, competing for attention in a market that is not artificially stabilized by any central institution. Economic downturns remain a key problem for individuals who want to sell their properties. If in the past decades homes were sold in a matter of weeks, there have been reports that residential structures have stagnated in the market for almost five months. In other countries, five months is more than dead- the property is already a ghost, rotten to the core and not worth buying.
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In the United Kingdom, the real estate and housing economies are experiencing a slowing down, owing to the fact there is an increasingly periodic rise in the supply. This situation in the buy to let business has led to numerous consequences: many BTL investors are now losing money on their property investments, and many find it hard to continue investing in new properties will full knowledge that the properties’ yield would not be enough to cover the expenses of the initial capital layout within the projected period of time. |
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It is a sad state that the area of east London is home to some of the Capitals poorest people. Not by their own choice just bad luck. In fact the recent property hike has made it increasingly difficult for residents in the East of London to be able to meet the cost of living.
The high cost of living in London means that the minimum wage paid out to staff in East London is basically a wage that will lead the workers to live in poverty taking it. The minimum Living Wage for London is 7 pounds and 20 pence per hour. To some areas of the Uk this can sound relatively good, however when you have a family to support, loans to take care of, Bills to pay and living expenses to make in London 7 pounds 20 per hour just about keeps you off the street. |
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For me this question is not a difficult one to answer the in the past years the property prices areas in the UK are rising. With the costs of mortgages going up, it is quite simple that buying a property in an area that has already reached the 1 million mark would be a risky investment. |
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Brick Lane's curry-house bosses are fighting to have the new Shoreditch High Street station, to open in 2010, renamed "Banglatown". They say the station, which will be part of the extended East London line, would make it easier for tourists and Londoners to get to the area, famous for its large Bangladeshi community living in and around Brick Lane. |
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