[CalRobert]

Of course, people like newer things. But how was the cost of surrounding old builds affected?

[MrAlex94]

> But how was the cost of surrounding old builds affected?

Not sure I understand?

Edit: Anyway, the poster I was replying to was making the point that these towers are alleviating demand and subsequently pushing prices down, which is not happening.

[CalRobert]

I meant "people who might have bought an old home instead went to the new one".

If I have a market of 10 dumpy old cars, people will pay X for it. If I destroy 1 dumpy old car and add 2 brand new cars, people will pay more for the new cars (like your new building) but the dumpy old ones will be slightly cheaper.

[WalterBright]

That is not what I wrote. I said the prices with the tower would be lower than prices without the tower, which is not the same as saying prices would decline.

I.e. relative vs absolute.

[MrAlex94]

https://content.knightfrank.com/research/478/documents/en/20...

This research shows that there’s an average of 1.5% price increase per floor. Care to share a counter-claim source?

[WalterBright]

Increasing the supply of something simply does not cause price increases. If the price increases, it's because demand is increasing even faster than supply.

[MrAlex94]

At this point there’s no way you aren’t pulling my leg. The research paper showed that increasing the amount of floors increases the price per floor. Are you saying that these towers control demand? So if they lower the amount of floors then suddenly demand is going down because they are cheaper?

Also I do hope you know the context of my posts relate to the UK market?

[CalRobert]

People like living high above traffic. There's a reason penthouse apartments are at the top.