Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

UK Population Growth - Latest ONS Immigration Statistics and Consequences

Housing-Market / Immigration Mar 24, 2019 - 12:46 PM GMT

By: Nadeem_Walayat

Housing-Market

This analysis directly continues on from Part 1 (UK House Prices, Immigration, and Population Growth Mega Trend Forecast - Part1) which is part of a series that aims to conclude in a new multi-year trend forecast for UK house prices. But first a recap of my analysis to date that so far suggests to ignore mainstream press hysteria that warns of impending doom for Britains housing market, encouraged no less than the Government and Bank of England which warn to expect a 30% CRASH in UK house prices should the UK LEAVE the EU without a deal.


Instead my analysis so far continues to paint a picture for UK house prices to remain on an overall upward trend trajectory.

uk-house-prices-analysis-2019

It is now 2 1/2 years since Britain voted to LEAVE the European Union, has that decision had any significant impact on net migration as the BBC news broadcast bulletins often suggest?

The most recent ONS data continues to show what amounts to out of control immigration of 625,000, only marginally below the pre referendum high of 652,000. Whilst emigration 351,000 compares against the recent high of 363,000 (Sept 2017) resulting in net migration of 273,000. Which remains stubbornly above the Governments past publicised target of bringing net annual migration down into a sustainable tens of thousands (50k).

So since the June 2016 EU referendum the UK has experienced net migration of nearly 700,000, which is equivalent in size to Britains 4th largest city, effectively translating into a DAILY flood of near 1000 people turning up on Britain's shores and demanding housing, education, school places, jobs and benefits such as tax credits, housing and child benefits, health & social services that have been buckling and breaking as illustrated by social housing that in most cities has been in a state of total paralysis for over a decade.

Thus despite the EU referendum, the Conservative governments failure to control immigration for the past 8 years is just a continuation of the Labour immigration catastrophe that set in motion a 20 year long immigration mega-trend for importation of 11 million people (total immigration) where approx 90% of the adults were expected to vote Labour of which at least 90% are on benefits such as tax credits.

And whilst the mainstream establishment press heavily focuses on EU economic migrants leaving the UK since the EU referendum. However they deliberately fail to acknowledge the fact that the level of migration from the EU is still strongly positive, i.e. at about 100,000 per year. Which means that since the EU referendum there has been a further net influx of over 200k EU economic migrants.

However the statistics also show an establishment that remains determined to import cheap overseas labour, as evidence by the surge in NON EU migration to a new record high of a net 248,000, against EU net migration of 80,000.

The bottom line is that UK government demonstrably have NO CONTROL over Britain's borders whilst remaining within the EU, which means that out of control immigration WILL CONTINUE TO PERSIST and the trends for which are UNSUSTAINABLE as new house building is barely able to keep pace with natural population growth let alone demand from immigration.

NON EU Migration

Whilst the following map illustrates the primary sources of outside of EU migration that continues to rise with each passing year.

Despite Immigration from outside the EU generally being controlled by requiring visa qualification for entry clearance, nevertheless the UK has been experiencing a persistent surge in immigration from mainly China and India which comprises 65% of the total immigration from outside of the EU.

Why People are Migrating to the UK

Contrary to press stories of civil wars, most of the migration (90%) into the UK has been purely economic that includes to study, many of whom turn out to be bogus students who instead are here to work illegally and for permanent settlement.

Which illustrates the fact that approx 60% of all new jobs created have gone to migrant workers, most of whom will be claiming in work benefits such as tax credits, which typically means that for every pound a low income migrant family earns in income then they tend to receive an equal or greater amount in benefits as the following example illustrates:

Family of 6, with both parents working for minimum wage, each earning £8k per annum.

Employment
£16,000
Tax & NI Paid
£0
Tax Credits Received
£12,448
Child Benefit
£2,892
Housing Benefit
£6,600
Total Benefits
£21,940
Total Income
£37,940
Services (School and Health etc)
£25,000
Total Cost to Britain of EU migrant family
£46,940

 

So a family of six with BOTH parents working will receive approx £22k in benefits ON TOP of their £16k earnings, for a total income of £38k. However on top of this would be in receipt of services of at least £25k per annum i.e. £5k per school place and £5k healthcare costs. THIS illustrates the magnitude of what to all intents and purposes is FRAUD perpetrated on British tax payers as most migrant workers tend to take FAR MORE in benefits than they actually receive in wages whilst paying virtually NO taxes.

Whilst a 3 child family would receive approx £18.5k in in work benefits and a 2 child family £15k which makes a mockery of the claims of hard working migrant families contributing more than they take which is JUST NOT TRUE! And this does not include benefits taken by non working migrant families that are capped at £20k per annum (outside London).

Illegal Immigration

It should be noted that the official ONS statistics exclude ILLEGAL IMMIGRATION. The ONS made the following statement in response to a request for statistics on illegal immigration -

By its very nature it is impossible to quantify accurately the number of people who are in the country illegally. For this reason ONS does not produce estimates on the size of the illegal migrant population.

Whilst my earlier analysis of April 2015 estimated illegal immigration totaled at least 800k (15 Apr 2015 - UK House Prices, Immigration, Population Growth and Election Forecast 2015), which would translate into average annual net migration being about 15% higher, i.e. rather than current net migration of 273k, instead it is probably running at about 314k per annum.

UK Population Growth and Housing Market Consequences

The rest of this analysis will continues Part3, which has first being made available to Patrons who support my work. https://www.patreon.com/posts/uk-house-prices-24096020

To get immediate access right now and First Access to ALL of my future analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat

Whilst my latest in-depth analysis concludes in a 6 month trend forecast for Stock Market from March to September 2019:

Your analyst,

Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2019 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in