London and micro-flats

[diyhelp]

An interesting trend developing in London?

http://www.telegraph.co.uk/business/2017/09/10/londoners-turn-micro-flats-risk-pushed-city/

 

[Longterminvestor]

Interesting - whether or not we all agree with them, micro flats will become more common place. There is no real alternative at the moment as the cost of living in London is way too high for the majority of people who work there.

 

[realdeals]

Very surprised we have not seen more interest in micro flats before now - these are very popular on the continent.

 

[Longterminvestor]

Interesting question:-

Who believes it is acceptable for the authorities to introduce limits on rents, etc in a free market?

In my view, they can't have their cake and eat it. They can't enjoy the benefits of a free market while also introducing various restrictions.

 

[realdeals]

I was just about to suggest the politicians are to blame for this mess but are they?

 

[nmb]

We have tried shared ownership, which pushes prices and higher and higher, so maybe micro flats are the way forward?

 

[nmb]

The situation is only going to get worse in the future with a growing population and a static amount of usable land available.

 

[nmb]

I live in Scotland and the population is the sparsest in the UK hence the generous Barnett Formula, etc. However, the vast majority of the undeveloped land is not suitable for homes, etc. However, I do agree that markets adapt - property trends and styles in Manchester, for example, are likely to be different to some of the more popular parts of London where space is at a premium.

I also lived in Manchester for nearly 10 years and saw the massive redevelopment in the 1990s and turn of the century.

 

[Longterminvestor]

London developers have always been inventive - maybe it is the politician who are holding back progress?

 

[kchiggs]

Interesting question:-

Who believes it is acceptable for the authorities to introduce limits on rents, etc in a free market?

In my view, they can't have their cake and eat it. They can't enjoy the benefits of a free market while also introducing various restrictions.

It is not a free market, otherwise there would not be restrictions on where we could build property, what you can live in (planning permission) which an establishment of would allow for a much greater supply of housing.

Micro-flats make a lot of sense especially near train stations and for London and other large cites, perhaps as Mon-Fri residences.