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[email protected] · September 10th 15, 05:52 PM posted to uk.transport.london

In article , (Roland Perry)
wrote:

In message , at
16:31:07 on Wed, 9 Sep 2015, remarked:

There are a few brown-site developments in the City Centre, but they
are usually at the high end of the market (eg £500k for two beds).

The large amount of (fairly) recent building on former employment
sites, mainly ex-Philips like at St Andrew's Road and St Matthew's
Gardens, is more reasonably priced. And some 30% is affordable housing
(40% on newer developments).

St Matthew's Gardens is a bit cheaper with 3/4 bed houses nudging
half a million. St Andrews Road, on the other hand, is much more
expensive for freehold 3/4 beds with several valued at the moment in
the 700-800k bracket. Leasehold 2 bed flats are around 400k.

Both developments have affordable housing elements which wouldn't be
visible by the means you are looking at.

Assuming the leasehold flats in those developments are the
"affordable" element, then they also appear. But the audience for
affordable housing is so restricted it doesn't help the average
person find somewhere to live. They are stuck with the "unaffordable"
half, which is even more expensive than it would otherwise be, on
account of the cross-subsidy.

Although some flats and houses might have been sold as affordable they would
be unlikely to remain in that category when resold. Most affordable housing
there is social rented. Similarly, plenty of flats will not have been in the
"affordable" count, including the example I gave.

--
Colin Rosenstiel