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I hadn't realised that it's only very recently that the UK mortgage market became overwhelmingly fixed-rate
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this post was submitted on 23 Jun 2023
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UK Economy
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Yeah, it's complicated. It's about friendships, it's about jobs, it's about nightlife and events and transport, ...
I work for a big tech employer in Coventry. We'd be very happy if some of the London/South-East based employees wanted to move here. And we're within easy commuting distance of a number of towns and villages as well as the city itself. And we're only an hour from London on the train - hardly the back of beyond.
If people actually want to move, it is perfectly possible for them to do so right now. If they don't, for any one of a number of reasons, it is their choice. But it is very naive to imagine that Government subsidies would help when simple economics already provides a subsidy worth hundreds of thousands of pounds.
yes i get you. I dont think I am naive but hey, lets not get off track! Government support isnt just about subsidy as you point out. Its clearly a percieved lack of options, people dont think they can make the move for all the reasons. Half the problem we had moving last year was making time to view houses in areas we dont live near. Theres clearly an opportunity for someone to speak to those local councils and make a database, maps, information packs to help prospective movers like us to understand certain things - but in this case the private market is still heavily lopsided, and thats a good way to start with subtle government intervention. Decent estate agents are almost as rare as rocking horse shit, they simply wont help you even if they wanted to!
My employers office is in London, I visit a few times a month and the rest of the time I work at home in the northwest. Really hit the jackpot of jobs for myself. 1hr 47mins to London on the west coast mainline. When I visit I can get the 6.30am train and be at the office before 9