From an old Evening Standard I found again while tidying up my study.
Yet another example from real life how the actions of "the community" create land values - something which the estate agents refer to as "Location, location, location".
London (or any other town, for that matter) has to be there first, and London is only the sum total of people who live and work there, and all the amenities or opportunities they provide. The total number of people who can live and work somewhere in turn depends on how good transport infrastructure is (roads and cars are fine for smaller towns; but above a certain population density, only public transport will do).
Very few people are happy to commute more than ninety minutes each way, so if a house is more than ninety minutes away, it's "time from London" value is £nil; sixty minutes away (i.e. thirty minutes closer) and £39,000 of its potential selling price is TfL value; half an hour away and it's £78,000 and the very fact that a house (or flat) is in London itself is worth £117,000.
Sunday, 17 July 2011
More Ricardo Fun
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4 comments:
Anon, about seven to twelve million people, depending on where you draw the border of London.
I take it you are one of the people who would scream blue murder if they suggested allowing more roads or houses or factories to be built near where you live, so in your position I would shut the f- up and be thankful.
"London (or any other town, for that matter) has to be there first, and London is only the sum total of people who live and work there, and all the amenities or opportunities they provide"
Of course if the Government didn't take money from people who work in London to give to people who live there but don't work. There would be more housing for us workers.
I am sure there are parts of the country where the long term unemployed could be housed cheaper - there was an article in the Metro about streets in Burnley which couldn't sell the other day. If Kensington for example were to put single mums there, they would save a fortune
Anon2, yes, that's all in the MW manifesto, albeit I approached it from a different angle.
Good, glad to hear you believe in fair housing.
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