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House price hype.

January 12, 2015

Don’t know about you, but I am getting more and more cynical when it comes to the media’s continuing obsession with rising house prices…

Blind Freddie could see that the only real beneficaries of the inexorable upwards bill for having a roof of your head are, in no particular order, real estate agents, the government, banks, public utilities and insurance companies.

Week after week the print media delights in telling us which are the most desirable locations for homes, blithely ignoring the very obvious fact that the losers in this escalating suburban scenario are  young couples wanting to enter the homes market.

Let’s face it. Every time you  go upwardly mobile you donate to the afore-mentioned institutions in the form of transfer fees, legal documents and the plethora of paperwork that accompanies the change of your address.

And the added item in the equation…the growing input into the home market from cashed up overseas investors (such as China)…is conveniently ignored.

Meanwhile, rather than gleefully chronicling the dollar spiral for a roof over your head, the media should take a WEA course in economics.

But, hey. Anything goes for a headline.

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One Comment leave one →
  1. Ian S permalink
    January 12, 2015 7:04 pm

    Alas this is true, however modern economics is based on the assumption that prices will continue to rise and that there is always “growth”. I would add that it is the serial developers that are making the money as well. Council is allowing the available blocks to be split into two and three without the addition of more open space. The character houses are great and the character would be good to maintain, this is true, but it is disappearing as the developers march on and plant their cheap and nasty 30 year design life boxes in the place of the 100+ year old buildings. An alternative that has not been explored is to require complete street-to-street-to-street-to-street blocks to be re-developed. This would allow the private open spaces be be amalgamated, the council could require common facilities to be installed and the provision for better traffic management or bicycles (UCC is within the 5km radius after all). Character 3 to 6 storey row houses and apartments could then be built and the council could get their much lauded open space.

    Isn’t this what “Town Planning” is all about? Council does have the control over this after all.

    Like

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