House prices and rents post-GE 2015

mellowsun · May 2015

So Labour were going to cap rent rises and introduce a mansion tax.

Obviously these aren't going to happen now, and the Tories are going to flog off the remaining social housing stock at huge discounts.

What do you think? Rents and house prices up by 10% by the end of this year?

richardhomer · May 2015

Probably.

capo4th · May 2015

Hopefully

Stevepage · May 2015

Well the Tories are for the hard working people. So obviously were all not working hard enough. Just work yourself to an early death and I swear it'll all work out because the wealth from the 1% will all trickle down eventually.

octatonic · May 2015

Didn't vote for them but as a landlord/developer type we will do much, much better under the Tories than we would under labour.

10% is possible, although we are approaching a limit to what can possibly be charged at the moment.

People are already spending up to 60% of their income on rent- in order for it to go much higher wages are going to have to rise.

Certainly what is happening is landlords are removing their London council-let properties from the social housing register and renting them privately.

This has the effect of moving social housing tenants out of London.

This is going to accelerate over the next 5 years I think.

holnrew · May 2015

Expect suicides to rise too.

stickyfiddle · May 2015

holnrew said:

Expect suicides to rise too.

And that's just the Millifandom...

Sambostar · May 2015

Stevepage said:

Well the Tories are for the hard working people. So obviously were all not working hard enough. Just work yourself to an early death and I swear it'll all work out because the wealth from the 1% will all trickle down eventually.

Best chance of that happening is copping some urine whilst walking through the West End.

Sambostar · May 2015

I give it 3 years and then the ethnic cleansing really starts on people who own their own homes but can't afford the increases in Council Tax as the government selectively cuts funding to make way for foreign investment.

Forge · May 2015

Governments can't even get the energy suppliers in line, how would they cap private rents? Like in most areas it is down to supply and demand, if you want to have lower prices you need to increase the number of rental properties on the market.

Sambostar · May 2015

Stallone Cobra : foto

Or....Reduce the number of renters.

thomasross20 · May 2015

Hopefully NOT. I think people should have one house allocated per family or at least heavy tax on second homes. Prices going up is a bad thing unless you're downsizing.

I hope prices plummet (50%+) even if it means economic reset and I lose all my savings. I'm not joking.

Prices are saturating anyway, what with new high student debt etc and years of rises, you'll never again see the 300%++ rise witnessed in the last 30 years. Especially as wages never caught up and wont for a looong time.

It's intergenerational theft. Total lottery based on when you were born. Kids staying at home for years and putting off families. Paying £250k++ for a shoebox over 30+ years at £1500+ a month, never mind other costs.

Sorry capo4th (and no animosity!) but your post really angered me. Why hopefully? Do you have kids? What is to gain? To me it's an "I'm alright jack" line of thought. I hate the British housing disease and hope it crumbles regardless of consequence.

octatonic · May 2015

thomasross20 said:

Hopefully NOT. I think people should have one house allocated per family or at least heavy tax on second homes.

It will never happen.

mellowsun · May 2015

thomasross20;628357" said:
Hopefully NOT. I think people should have one house allocated per family or at least heavy tax on second homes.

Could happen in Scotland under the SNP but will never happen in England under the Tories, or Labour

thomasross20 · May 2015

Maybe not in England...
Ah, just saw mellowsun's post

Octatonic, no offence but I'm staunchly against BTL in every shape and form. I don't want to argue though. Clearly we've both got vested interests. I want myself and all others to be able to afford no matter the cost. My generation will never catch up with the exponential rise housing has taken - we're stuffed. The banks should have fallen years ago and housing (aka the British economy) with it.

Fretwired · May 2015

mellowsun said:

So Labour were going to cap rent rises and introduce a mansion tax.

Obviously these aren't going to happen now, and the Tories are going to flog off the remaining social housing stock at huge discounts.

What do you think? Rents and house prices up by 10% by the end of this year?

The Tories are going all allow housing associations to sell off properties and keep the money to build new properties - they will also make up the shortfall. The turnover of HA properties is low .. if people can afford to buy it frees up cash to build a new property that can be let. There are a lot of people in council houses who could afford to buy such as the late leader of the RMT Bob Crow who earned £160K per annum and a couple of high-profile Labour MPs.

octatonic · May 2015

thomasross20 said:

Maybe not in England...
Ah, just saw mellowsun's post
Octatonic, no offence but I'm staunchly against BTL in every shape and form. I don't want to argue though. Clearly we've both got vested interests. I want myself and all others to be able to afford no matter the cost. My generation will never catch up with the exponential rise housing has taken - we're stuffed. The banks should have fallen years ago and housing (aka the British economy) with it.

No offence taken.

BTL has been very good to me but also it isn't a picnic.

We make money but it takes time and has an element of risk- like any other business.

I do agree that the system is titled in favour of the landlords- if I was doing this in Australia I'd be structuring my business very differently.

The problem isn't chiefly the number of BTL though- if there was more housing stock then the price would go down.

xSkarloey · May 2015

This is the Fretboard, not Mail Online.

Modmins, remove this thread immediately.

octatonic · May 2015

Fretwired said:
There are a lot of people in council houses who could afford to buy such as the late leader of the RMT Bob Crow who earned £160K per annum and a couple of high-profile Labour MPs.

This is pretty mad.

Social housing should be based on need, not grandfathering in houses for life.

On the flip side though people need to have an incentive to work.

Currently I have a tenant who is renting a house we have via Newham council.

Newham reduces her rent payment when she works overtime, which means virtually every penny of overtime just goes on rent.

She has now stopped working overtime because there is no point- she is in the same financial situation if she doesn't work it.

Fretwired · May 2015

octatonic said:

Fretwired said:
There are a lot of people in council houses who could afford to buy such as the late leader of the RMT Bob Crow who earned £160K per annum and a couple of high-profile Labour MPs.

This is pretty mad.

Social housing should be based on need, not grandfathering in houses for life.

Agreed ..

http://www.independent.co.uk/news/uk/home-news/bob-crow-i-have-no-moral-duty-to-move-out-of-council-house-despite-receiving-sixfigure-salary-as-rmt-boss-8964238.html

And here's Frank Dobson and wife with a six figure joint income paying (when this was written) £160 per week in rent and refusing to leave or pay a commercial rent ...

http://www.standard.co.uk/news/100000ayear-dobson-defends-his-council-house-6411862.html

mellowsun · May 2015

Fretwired;" said:

The Tories are going all allow housing associations to sell off properties and keep the money to build new properties - they will also make up the shortfall. The turnover of HA properties is low .. if people can afford to buy it frees up cash to build a new property that can be let. There are a lot of people in council houses who could afford to buy such as the late leader of the RMT Bob Crow who earned £160K per annum and a couple of high-profile Labour MPs.

I'm not sure why selling off council houses at 100k discount is going to help here.

If Bob Crow et al can afford to buy then they should pay full market rate, I don't see why they should get further taxpayer subsidies to buy their council home.

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House prices and rents post-GE 2015

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