The eye-watering market leaves ordinary residents merely browsing
A study of the capital’s housing market has examined London properties for sale, the listings priced at such eye-watering, gravity-defying levels that ordinary residents have largely given up any hope of buying and now simply browse them for entertainment, as one might admire the homes of an entirely different species.
London properties for sale leave ordinary buyers merely browsing
The capital’s property market, the study found, has reached such extraordinary, eye-watering price levels that home ownership has become genuinely impossible for vast numbers of ordinary residents, the listings, with their gravity-defying prices, now functioning as much as a source of incredulous entertainment as a realistic prospect for the many who browse them without any real hope of buying.
A spokesperson for the Institute of Property Studies, invented for this article, described the market. London properties for sale are priced for buyers from another planet, she said. The prices are eye-watering, gravity-defying, genuinely impossible for ordinary residents. Home ownership has become a fantasy for vast numbers of people. So they browse the listings, not as realistic prospects, but as entertainment, incredulous, astonished, admiring homes they could never possibly afford, as one might admire the lifestyle of a different species. The market has decoupled from the reality of ordinary incomes. The listings are genuinely eye-watering. For most residents, the property market is now something to browse in disbelief, not to participate in. The homes are priced, quite literally, for buyers from another planet.
The deadpan fantasy of the property listing
The genuine challenge, the study found, is real and serious, with the extraordinary cost of property in the city making home ownership genuinely impossible for vast numbers of residents, the eye-watering prices reflecting a real and serious housing affordability crisis with profound consequences.
The incredulous browsing, the study found, has become a genuine phenomenon, with the gravity-defying prices having decoupled the market from the reality of ordinary incomes, the listings now browsed by many as a source of astonished entertainment rather than realistic possibility, a symptom of a genuine and serious affordability crisis.
Why London properties for sale genuinely matter
London properties for sale genuinely matter, reflecting a serious housing affordability crisis, putting home ownership beyond the reach of vast numbers of residents, shaping the lives and prospects of millions, and highlighting one of the most genuine and pressing challenges facing the city.
Genuine advice on housing, buying and affordability is available from Citizens Advice. The housing charity Shelter campaigns on affordability and housing.
The genuine scale of the housing challenge and the city’s response is reflected in data and policy from the Greater London Authority.
Residents describe the eye-watering market with rueful disbelief. Properties for sale are priced for buyers from another planet, said one. The prices are eye-watering, gravity-defying, impossible for ordinary people. Home ownership has become a fantasy. So we browse the listings, not as realistic prospects, but as entertainment, incredulous, admiring homes we could never afford, as one might admire the lifestyle of a different species. The market has decoupled from the reality of ordinary incomes. For most of us, the property market is now something to browse in disbelief, not participate in. The homes are priced for buyers from another planet. It is genuinely astonishing, and a serious problem. Ordinary people simply cannot buy here anymore.
For now London properties for sale continue to be priced at such eye-watering, gravity-defying levels that ordinary residents have largely given up hope of buying and now merely browse them in incredulous entertainment, reflecting a genuine and serious housing affordability crisis that has put home ownership beyond the reach of vast numbers, and proving that the city’s property market has decoupled so completely from the reality of ordinary incomes that, for most residents, the listings have become not a realistic prospect but a source of astonished disbelief, priced, quite literally, for buyers from another planet.
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My mate’s a researcher and it validated years of his work. He felt simultaneously vindicated and unemployable.
This reads like someone’s been documenting their own slow descent into clarity. Beautiful descent.