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London Housing Bubble Watch: $630/Month For A Bed "In" A Shared Kitchen!
You know it's a bubble when... A listing has appeared online advertising a single bed in a house in London where the mattress is located in the kitchen.
"Please notice is not a room," the listing on SpareRoom read. "Is a single bed in shared kitchen,” continued landlord Joe.
For £400 ($630) a month "you can use your own entrance from the garden, if you wish," he continued.
The advert claims it is a five to 10 minute bus ride to the station. Although putting the approximate location into Google Maps, as reported by the Independent, also shows that it’s in fact a 27-minute walk away to the nearby overground.
SpareRoom’s “early bird” system means only those with a premium account can get in touch for the first seven days of the listing’s time on the site.
If it's not a hoax it exemplifies the rising rents in London with tenants unable to to buy a property and a lack of new stock to meet demand.
The advert has now been deleted by "landlord Joe" but was thought by Spareroom to be serious.
Matt Hutchinson, director of flat and house share site SpareRoom.co.uk, said:
“This is another sign of how bad the housing crisis has become. This isn’t just one of the most bizarre ads we’ve seen, it’s also a huge invasion of privacy. No one should have to sleep in a kitchen, and no one should have to pass through a bedroom to get to a communal area. This ad has been removed.”
* * *
Welcome to the new normal!
On the bright-side, it's great for breakfast in bed...
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but but... it's so sophisticated to be "a part of it all"
Not a bubble. Where there is demand, the supply will always meet at that pre-det. price. You guys realize how convenient it is to work and live in the City at the same time? There's a big premium for that. Whether you're out in West London or over on Brick Lane...walking distance is key.
H8ers gon' h8.
"Be Happy. It has everything you need", Obama
Coming to a theater near you?
just before the olympics it became absolutely ridiculous regarding the rent. everything went up 20% and stayed there. now its even higher. its very overpopulated now. especially with millions of poles influxing after 2006 and romanians/bulgarians infiltrating now.
$500 + a month for bedroom where I am in Canada, I'm told Asian college kids pay it with a smile, they to go to UBCO http://ok.ubc.ca/welcome.html
And the British slaves will pay much more for utilities since they aren't in "the club"
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ZeroPower: "Not a bubble. Where there is demand, the supply will always meet at that pre-det. price. You guys realize how convenient it is to work and live in the City at the same time? There's a big premium for that. Whether you're out in West London or over on Brick Lane...walking distance is key."
all correct, but there is a bit more to that. supply is constricted. by zoning laws. and this constriction of supply is... applauded by nearly all owners of Real Estate, on Blighty
in short, plenty of owners of RE in England that are strongly aware that their major investment appreciates moar, thanks to the restrictions in building
nothing new and nothing that isn't discussed, in the UK. one party was asking for a law that would have allowed to build 600'000 units. it did not win, instead the "RE-owning" class party did
there was even a ZH article on that, with one guy explaining that he became 50'000 quids richer in one year just by the appreciation of his home, according to his... here it comes... bank
Breakfast in Bed Muthafukkas.
That would be ever So Depressing But just think, wouldn't have to go far to get the Vodka out of the Freezer to Numb the Pain.
On the other side of the coin, I could see myself getting a bowl of cereal with a smelly vomit covered drunk passed out on the fold-away
Yea but if you were gettin it and getting it good and your mom-like roomie walked in to get her midnight snack would you keep on? Or wimp out?
It's your room bro, think about it....
Is "mom" good looking?
For that kind of money, I'd expect the landlord sleep in the kitchen, and me sleep with his wife.
"All cats are grey in the dark", I've heard.
That looks like the last place I rented.
It's not a bubble. It's a crime.
Bed and breakfast. Breakfast not included.
Notice the Garbage can in front of the Radiator.
Should do wonders for the kitchen 'aroma'.
that's the loo
Sausage for breakfast could have a whole new meaning.
Its ok; there's plenty of room for more Fridge Magnets.
em forster estate agents
presents
a room with a view
perfect for wankers
tossing eggs
or cocks
or both
omelettes best avoided
what what
Amazing news, what a scoop! But why rent a bed in a kitchen? Beats me. You'd have to whip up a good excuse for cooking in the nude, I'd probably play chicken and wear a chef's apron, sizzzling fat from belly pork could really sting.
yes, personal experience dont try and fry bacon in the nude.
kitchen is too much, only bed is next
Is still better than Khrushchyovkas.
you pay extra for kitchen conveniance, you can lay in bed while you breakfast is cooking, sweet idea.
It is not a housing crises, it's a currency crises between the FED, BOE, ECB, & BOJ sucking eachother's nutsacks (Mr. Yellen's too...ewwww) with printed currency that children born 40 years from now will be paying the debt on.
"Son, your room is the mess!"
Pissing in the kitchen sink with morning wood is not easy.
I only dream of morning wood so I can piss in the sink..........
I'd prefer a spare bed in the walkin closet.
Saw an ad a couple of years ago in West London; "Double matress to rent, £45.00 each per week." I presumed it was inside a building. I knew,then, that it was going to be different this time.
I love the smell of bacon in the morning...
For an even £700 we'll throw in the pantry to hang your clothing.
In New Zealand we have only 4.5 million people in a country the same size as Japan and we have the worlds largest pine plantation - yet the banks, politicians, and real estate agents are telling us there's a housing shortage. Go figure.
unless you want to live in a tree - i presume it is a fair comment
You have a Chinese investor problem, not a housing shortage
New Zealand is still one of the better places remaining on this earth to live......Be certain though, they'll fuck that up.
The parasite class HATES happy people.
If you're not miserable...Then why the hell would you need 'them' to 'fix' all your problems?
Fucking sociopath POS.
I recall as a child feeling discusted and sad sometimes watching tee-vee (nature shows) when predators would take down prey.
Of course at the time, I had no idea ( I was ignorant) of the fact that criminal gangs..AKA 'government' was a perverse freak far more sickining than ANY healthy creature in nature ever would be.
In a free world children would have nightmares about monsters killing them with drones and college 'educations'.
It's surreal how thoroughly fucked humanity actually is.
Crikey! I paid a mere £45/wk for my Student Housing room on the 7th floor, near South Kensington in the late 80s.
That left lots Dosh for food, ale, some tasty crumpet and song. Or occasional indulgences at Harrods, Wembley or Wimbledon. England is not what it was. :-(
And you can't even blame it on the Kaffirs. The Banksters or the bloody WOGs OTOH... have made the place go to hell.
Was a great city then. But something strange has happened to it.
I'll just piss in the garden.
I'm sure my tenant had 11 people in my 4 bed-1bath house in Karratha - renting for $1800 a week. I think the couch was available for overnight stay for $50 also.
If i had of waited another 2 months to sell, I reckon I would have lost all of the $120k capital gain i made.
Just wait for the baby boomers to start falling off the perch.
There's always the Roebourne option.
Thats Karratha WA Australia, for our foreign members, lol, and nice timing on the sale, you clearly have your eyes wide open.
(australian mining boom town)
I reckon I could have squeezed another +$800k if had of sold 6 months earlier again.
I hadnt heard the saying "buy the rumour, sell the fact". When Gorgon (Chevron Project) was announced (before people actually started going there, and actually placed more demand on the housing) the price went nuts. That was the time to sell.
Gorgon did place further pressure on price/rents, but the greatest impact was before the first bloke had a bum on a plane.
A couple of years later, I remember driving along seeing rows and rows of houses 80% finished - that with slowing/ending projects in 6-12 months time - "time to sell".
Asked $760k - a guy "low-balled" me at $720k. SOLD - no takesies-backsies. Private sale so was $15-$20k "up"/saved just on that anyway. Probably not worth $550k now (my buy price a few years earlier).
Yeh - roeburn. no thanks. Karratha - middle of no-where. roeburn another 50ks East.
Thanks for the update.
We all buy low and sell high here - no need to brag.
Karratha will be a ghost town in 10 years.
Good riddance.
Give the unemployed a box of matches and a ticket to London.
London is shiite......once a time ago is was decent......
Last time I was there I went looking for the guy on the Worster bottle sauce.....
Could not find that geezer anywhere.....it is full of Indians, West Indians, Muslims and Asians.
Ka Boom!
Even the greatest detective of all times, who played a $1,000,000 violin by Stradivari, and a medical doctor, I believe a surgeon, could only afford to rent rooms in a house with a landlady on Baker St in London.
630 a month? Bargain. At least you have a roof.
Here's a inner Sydney trendy paying $215/week to live on a open balcony facing an arterial road.
http://m.news.domain.com.au/domain/real-estate-news/theres-also-a-random...
The landlord forgot to mention the insomniac guy in the room next door who is just out after 30 years in Broadmoor Psychiatric Institute for the Criminally Insane.
"you can use your own entrance from the garden, if you wish," he continued.
Looks like "Beds in Sheds". My local authority (London Borough of Harrow) is using thermal imaging from aircraft to find them.
That and skunk cultivation.
A DISTORTED MARKET WITHOUT PRICE DISCOVERY ALL DOWN TO GREED FROM USELESS UNQUALIFIED IGNORANT DRUNK BROKERS AND ESTATE AGENTS ONLY INTERESTED IN RIPPING YOUR FACES OFF LIKE THE SQUIDS AT GOLDMAN SACHS AND DRINKING BEERS IN CORNERS OF PUBS CELEBRATING HOW MUCH MONEY THEY MADE OUT FROM A SALE OR RENT. DISGUSTING BEHAVIOUR AND GOV SHOULD CRACK DOWN SUCH A BEHAVIOUR
Lived in London 1999-2002. Working 6 nights a week, I spent 3/4 of my wages for a room in a shared house, basic food and the tube.
Been thinking about this lately. There would be no way to have a roof over my head these days working the same job and hours never mind dream of having a place of my own. Even back then you could get your motivation returning from work early in the morning and seeing the mass of sleeping bags by the ug-stations. Think I'll have my holidays there and go around with a camera to have a look.
LOL,
That's a studio apartment. One room that serves as everything, except there was an actual separate bathroom.
I paid $170/month plus electric decades ago when I went to college. That was the only utility I had to pay. I didn't have a TV so no need for cable. Anyway, it wasn't much of a place for taking chicks.