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From The Socialist newspaper, 11 November 2015

Buyers queue overnight for 'affordable' London homes

Young woman and man wait on a bench with a sleeping bag at night, photo by Tony Fischer (Creative Commons)

Young woman and man wait on a bench with a sleeping bag at night, photo by Tony Fischer (Creative Commons)   (Click to enlarge)

Suzanne Beishon, Shared ownership householder

The news broke last week that people were queuing overnight to buy studio flats in far-west London for 200,000.

Very few Londoners will have blinked an eye. Because this grim scenario is becoming the norm.

London's house prices are rocketing. Anyone trying to do the impossible - get affordable housing in the capital - is thrown into a bear pit to fight it out for the few remaining scraps.

The studios, converted from old American Airlines offices, start at 199,000. That's for a 28-square-metre 'studio suite'. This rises to 355,000 for a one-bedroom apartment.

Those supposedly lucky enough to make it through the doors and have a chance at one of the 228 flats will have to put down a 2,000 deposit. Then they must pay 20% of the value within ten months. All for homes not set to be completed until 2017.

The grotesque London property market never misses the chance to make a quick buck. This meant the majority queuing were in fact bloated property investors. A few desperate, young first-time buyers were peppered around them.

Meanwhile, in south-east London's Peckham, a pre-fabricated 1950s council-owned bungalow - on 0.6 acres of land - fell prey to a bidding war. It sold for a staggering 950,000.

Cram

Meanwhile young - and not-so-young - renters cram into sheds, box rooms and cupboards in overcrowded, dilapidated flats for sky-high rents.

The Socialist Party fights for rent controls and a mass programme of council house building. Stop the sell-off of social housing stock. Bring unoccupied homes into public ownership.

Take the wealth off the 1% super-rich bosses and landlords - and end the living nightmare of our housing crisis.

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In The Socialist 11 November 2015:


Socialist Party news and analysis

Bail out the NHS

Socialist policies get results!

Government departments agree to hack budgets

Tories open the door to further rises in tuition fees

Fury as India's leader Modi plans to visit Britain

Buyers queue overnight for 'affordable' London homes

School kids must walk hands behind backs says head

Them & Us

What we saw


Socialist Party feature

Socialism 2015: Socialist ideas back on the agenda


International socialist news and analysis

USA: Kshama Sawant re-elected

UK trade props up Kazakh dictatorship


Workplace news and analysis

Unions should keep independence to lead fight to defend Corbyn

CWU rep sacked

Hull council in aggressive attack on trade unions

Step up the fight for trade union rights

Huge support for socialist in Northern Ireland union election

Workers dig in for fight over job threat

Workplace news in brief


Socialist Party comments and reviews

Can biomass energy be part of a socialist plan of production?

Revolutionary themes in games


Socialist Party reports and campaigns

Save steel jobs

Jeremy Corbyn visits Leeds Uni

Southampton council: cutters or Corbynistas?

Derby school support staff: fight against pay cuts continues

Fight now on to save disabled respite centre


 

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