Re:There is more to high house prices than constrained supply
by esotericn on Saturday November 24, 2018 @10:36AM
(#18522452)
> In 2015 a typical 2 bed flat in East London was £1,400 per month, West London around £2,500.
I think you're defining East and West in weird ways in order for this to make sense. Maybe it's because Hyde Park shifts the real "centre" of London off to the left (e.g. Charing Cross is 'sort of' the middle but isn't really.)
If you compare like for like it's much closer. e.g. go 3 miles east and 3 miles west from a 'centre' and compare prices. There's not a 70% difference unless you end up in an outlier (e.g. South Ken).
Last year a 2 bed in Hammersmith was ~1500. I think that would compare fairly well with the other side which would be near Canary Wharf somewhere.
I think you're defining East and West in weird ways in order for this to make sense. Maybe it's because Hyde Park shifts the real "centre" of London off to the left (e.g. Charing Cross is 'sort of' the middle but isn't really.)
If you compare like for like it's much closer. e.g. go 3 miles east and 3 miles west from a 'centre' and compare prices. There's not a 70% difference unless you end up in an outlier (e.g. South Ken).
Last year a 2 bed in Hammersmith was ~1500. I think that would compare fairly well with the other side which would be near Canary Wharf somewhere.