In Tune

Stories and Songs on today's free French CD, with The Times

Navigation - link to other main sections from here

From The Sunday Times

June 10, 2007

The property shortage in the South

Graham Norwood

The Molyneux family thought they had been smart by selling a London home at Christmas, but completing in July, so they could house-hunt in Winchester: six months on, they still can’t find anything.

In southern England, the market – especially for £500,000-plus homes – has been plagued by a shortage of supply, and their predicament is common. “We’d started looking for a five- or six-bed house for £1.1m or £1.2m,” says Emma Molyneux, 39, a lawyer turned aromatherapist. “But for the first three months, there was nothing to see. After Easter, a few properties came on, but with so many buyers, homes at £1.1m routinely sold for £1.3m after competitive bids. We now look at houses £200,000 below our budget to have a chance of affording one.” She, her husband, Brent, 38, a barrister, and Maisie, 5, Guy, 4, and Georgie, 2, have made regular house-hunting trips. Maisie and Guy start school in Winchester in September, so the family must rent there, at £3,000 a month.

“There’s probably been the usual number of homes on sale, but there’s been a significantly greater number of buyers for properties priced at £600,000 and above,” says Steven Moore, of the Winchester office of the estate agent Lane Fox. “City bonuses started it earlier this year. I can’t see thingschanging for months, perhaps into next year.”

“We’ve compromised on almost every aspect of our future home,” says Emma. “This has been a nightmare, and we want it to end – soon.”

Very funny article . I laughed a lot.

Dave Passmore, Southampton, England

Why do this couple have to rent for 3k a month? They could save a considerable amount of money if they rented a more modest property. One would have to be a saint to feel any real sympathy for a family like this when so many people need a clean and decent home to live in. Everyone wants somewhere to live but the majority of us have to compromise all the time with a million pound price tag only a fantasy.

sara lee, worthing, west sussex

Just because people earn a good wage doesn't mean they're not 'real hard working people'. These people also pay significantly more taxes than people who earn less, so they do 'actually contribute to society.'
I moved to London many years ago to find work, as I couldn't work in my home town. I now have a family and I'm looking to move to Winchester. I can afford in the region of 800/900k, There are plenty of people who work very hard to afford their homes, just because your home costs more, doesn't make you as self-satisfied as some people seem to believe. I wish I could afford more. I'm moving to give my children a better education and social life.

Long may their nightmare continue?

I had to reply simply because I was disgusted by the lack of understanding , simply because these people can afford a nice home. Money doesn't mean that families don't have hardships or problems.

I hope I don't ever judge people by what they have,or haven't got.

rob broomfield, london, london

Because of this attitude from people with this kind of money, we in Falmouth can't afford our own homes. These people should be grateful that they have worked hard for what they have got and stay where they as this is the type that is driving families away from where they were born. How dare they complain about not finding somewhere to live just because they fancied a move. Second home owners with money are not nice people if they talk like this couple.
We in Cornwall are being out priced by people like them, what selfish people they are. THe second homes stand empty for 10 weeks of the year. We have to put up with people coming down here buying up our houses and renting them out and then they disappear never mind that the house is falling down, they only come back for the rent at term time, these people who want to move should realise that money and a house means love to someone who has nothing, stop your whinging and go back home talking like that don't make friends.

Diana Merrett, Falmouth Cornwall, England

What's the point of this article? Are we supposed to feel some sympathy for these people?!? A lawyer turned aromatherapist who's "forced to look at properties worth just Â£900,000" to be in with any chance of affording one?

This disgusts me, what about real hard working people who actually contribute to society who can never hope to have a million pound home? How dare they call this a "nightmare", how about not being able to afford even a squalid bedsit in Acton, which is the kind of nightmare faced by most young people today. Stop wasting bandwidth to give voice to these whinging over-priveleged leeches.

Long may their "nightmare" continue.

Troy, London,