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Old 23.10.2018, 19:25
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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I was watching a fascinating programme recently about a man from Jamaica who came over in the 1960s with his wife to London.
He took a job as a bus conductor with London Transport. He said that he saved for a shortish period and used the cash to put down as a deposit on a house in Clapham - but he had his own home and could just about pay the mortgage. the property now is worth around 1.25 million

The difference is now that a bus conductor would be lucky if they would be able to rent a flat share in that area - let alone be able to save a deposit and buy a place - FMF is certainly correct about the overpricing of property
Jein.

<<In the 1960s and 1970s, the population of London fell as people moved to the suburbs and beyond.>> source

I wouldn't know whether property generally is overpriced in London.
But it is extremly obvious that the supply and demand is different. And that is something that deeply influences the property market. And brings the speculators into the arena. So yes, the properties are overpriced but for other reasons than assumed here.
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