De-Londonization
Despite the recession and the conclusions of property experts that property prices are going down, houses and commercial buildings remain quite expensive and many people that are thinking of working in the Big Smoke are unwilling to purchase a property of this scale. This trend is leading to a certain level of de-urbanization – many people are willing to travel an hour more to their workplace rather than spend huge amount of money on a house. The same happens with business developers that are gradually reconsidering their business locations.
A fair comparison between prices would be comparing properties in the heart or near the heart of London and the properties in the suburbs. A special research by the Telegraph indicates that the homes in London city area are reaching up to 60% (or nearly 300,000 pounds) higher price than the properties surrounding the area. And even though this is a logical price since London is London, there remains a great possibility that suburban areas would be becoming more attractive to new home purchasers regardless of the fact that these people might be having a job in the city. Transportation expenses and other transport-related expenditures are not a reason enough to make a person spend a quarter million more than he has predicted on a house.
Businesses are also following a similar path. Especially the growing ones. Even if a business owner gets the most reasonable office fit-out for his commercial property, he would still be paying an enormous sum of money against mortgage or business loan payments. This is why areas such as Uxbridge, Harrow, Hayes and Kingston are attracting more and more businesses – despite being expensive areas, they are quite more affordable than central London. Maintenance in these areas is also cheaper which is just another motivational factor for people to get their businesses out of the heart of London.
Similar Posts:
Unique Food – Atlanta Filipino Restaurant : One of the nice…
Visit The Country More : The country gets a bad rap. Many…
Tea Time : There is nothing more quintessentially British than…
Ideas For You : When your used laptop finally gives up and…
Comments are closed!