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Debate House Prices
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Who is going to Blog the Budget for us?
Comments
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This will have a major effect. At the moment LHA rates are set at the average, so those receiving LHA have a neutral effect on the rates.
Drop LHA to the 30% percentile and areas where there are a lot of LHA claimants will find their rent in an ever dropping cycle. eg if half the private rental properties are to LHA recipients then half the rental market can't afford the average rent, so rents will end up dropping. This drops the 30% percentile further.....
In an area with a lot of private rentals, it won't make much difference.
Ooh, I like the sound of that.
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Ooh, I like the sound of that.
Thought you might
Though it could go two ways, either claimants could find themselves living in an LHA ghetto with poor quality properties and the private rental sector would be unaffected or prices drop reflecting that a lot more people can't afford the average rent.
There is a 3rd way - that those in receipt of benefit have to find more top up money to stay in their homes and turn to more cash in hand work to make ends meet.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Thought you might
Though it could go two ways, either claimants could find themselves living in an LHA ghetto with poor quality properties and the private rental sector would be unaffected or prices drop reflecting that a lot more people can't afford the average rent.
There is a 3rd way - that those in receipt of benefit have to find more top up money to stay in their homes and turn to more cash in hand work to make ends meet.
My take on this is that it will have another effect. I've been looking at the houses that will fall within the percentiles where I live. IMO it means that there will be competition between those on HB and those who specifically seek out low price housing - mostly students and recent immigrants. Not sure what the impact will be, but I'm sure there will be an impact.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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Thought you might
Though it could go two ways, either claimants could find themselves living in an LHA ghetto with poor quality properties and the private rental sector would be unaffected or prices drop reflecting that a lot more people can't afford the average rent.
There is a 3rd way - that those in receipt of benefit have to find more top up money to stay in their homes and turn to more cash in hand work to make ends meet.
A 4th way is the non working claiments can just move to a cheaper area if the LHA payments won't cover the rent a LL wants. Then the LLs will be fighting to attract the private renters or take voids.
Other budget bits:
Single parents have to come off income support and go on to job seekers when their youngest reaches age 5.
Those who are able to work and still not working 12 months after their claim, have their LHA dropped by 10%.
Some non working home owners losing out too.
"Bad news for homeowners" re Support for Mortgage Interest Benefit.
http://england.shelter.org.uk/news/june_2010/bad_news_for_homeownersRENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
Ooh, I like the sound of that.
Are you in an area with a lot of LHA claimants?Originally Posted by silvercar
This will have a major effect. At the moment LHA rates are set at the average, so those receiving LHA have a neutral effect on the rates.
Drop LHA to the 30% percentile and areas where there are a lot of LHA claimants will find their rent in an ever dropping cycle. eg if half the private rental properties are to LHA recipients then half the rental market can't afford the average rent, so rents will end up dropping. This drops the 30% percentile further.....
In an area with a lot of private rentals, it won't make much difference.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
chewmylegoff wrote: »don't know where you're looking but this 4 bed a "stone's throw" from lewisham station is £250pw. there weren't any on rightmove that were more than £350pw.
http://www.rightmove.co.uk/property-to-rent/property-29587019.html
most expensive 5-bed was £510pw, and there are some on for £350pw.
http://www.rightmove.co.uk/property-to-rent/property-29502389.html
The figures quoted were straight off Lewisham councils website where they publish the LHA rates. It appears the properties you point out are only for working people, not LHA claimants.0 -
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There was an article in the Evening Standard tonight showing which areas of London will now be off-limits for HB. The article is at the link before, you can click in a map once there:
http://www.thisislondon.co.uk/standard/article-23848265-housing-benefit-curbs-will-push-out-the-poor.doPlease stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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I honestly don't think think the budget went far enough.
A new government has a certain amount of goodwill, you have maybe six months before that dries up.
I think they have wasted the single chance they had to really make a difference.Retail is the only therapy that works0 -
What about the council housing within the blocked boroughs? what happens to that?vivatifosi wrote: »There was an article in the Evening Standard tonight showing which areas of London will now be off-limits for HB. The article is at the link before, you can click in a map once there:
http://www.thisislondon.co.uk/standard/article-23848265-housing-benefit-curbs-will-push-out-the-poor.do0
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