We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Changes to Housing benefit how much will rents fall?
Comments
-
you really are hard work...Silverbull wrote: »Chucky do you think all these getting house benefit in London will stay in London when most of their 500wk is going to pay their rent and council tax?
If they move away from London they will be able to keep more of their 500wk for food and living.
Do not forget this cap applies to everyone pensioners or disabled, those families with low earnings, everyone.
it may help if you read and digest the posts - you're argument would be a bit more credible and realistic...0 -
you really are hard work...
it may help if you read and digest the posts - you're argument would be a bit more credible and realistic...
So what is your answer? You still think there will not be a need for those on low incomes to move out of London? Also do you still think rents will not fall when the cuts come in?0 -
read and understand this - you'll get your answersSilverbull wrote: »So what is your answer? You still think there will not be a need for those on low incomes to move out of London? Also do you still think rents will not fall when the cuts come in?
it's going to be a lot of money in the real world... let's do the math...£20 million quid.
Do you really think that's going to make much of an impact on London rents/house prices, chucky?
It's not much, is it?
£20 million between 15,000 households is £1,333 a year and is £111 a month...
£111 a month will be fine if the average rent reduces by only £88 a month...The way I looked at those posts:
22pw off the average rent, I would guess that's between 5 and 10 percent depending on area, possibly a bit more in the bronx, I would classify that as
However, an extra £88+ a month on expenses DOES reduce discretionary spend significantly.
See, I thought about it, rather than going out of my way to look like an utter dipstick.0 -
The Standard has learned that ministers are also looking at plans proposed by Boris Johnson to pay housing benefit directly to private landlords to cushion them against tenants falling into arrears.
In return they would be required to reduce their rent below the cap of up to £250 a week for a two-bedroom property and up to £400 a week for a four-bedroom home.
http://www.thisislondon.co.uk/standard/article-23884963-mayor-seeks-reprieve-for-london-tenants-hit-by-housing-benefits-clampdown.do
So landlords would be "required to reduce their rent below the cap of up to £250 a week for a two-bedroom property and up to £400 a week for a four-bedroom home."
It can not be clearer average rents are due to fall in London.
When rental returns fall house prices are not far behind.
This is all assuming most housing benefit claimants stay in London.
As I said I think it will be a bit of both 1. Rents falling and 2. Tenants moving away to cheaper areas, which will increase supply and reduce demand in London.0 -
jeez - they won't need to move because the grant will pay for the shortfall in the rents due to the change in HB...Silverbull wrote: »This is all assuming most housing benefit claimants stay in London.
As I said I think it will be a bit of both 1. Rents falling and 2. Tenants moving away to cheaper areas, which will increase supply and reduce demand in London.0 -
I'm on Job Seeker's Allowance so where I'm going to find £22 a week out of my dole money to bridge the HB gap I dont know
The Tories said they were going to make working more financially viable - everyone thought they meant by putting up the minimum wage! no, they meant by cutting the dole to the point where no-one can live on it!! Once a Tory always a Tory0 -
-
no idea...I'm on Job Seeker's Allowance so where I'm going to find £22 a week out of my dole money to bridge the HB gap I dont know
The Tories said they were going to make working more financially viable - everyone thought they meant by putting up the minimum wage! no, they meant by cutting the dole to the point where no-one can live on it!! Once a Tory always a Tory
many people on here will tell you to go get youself a job.
others would tell you to move to somewhere cheaper.
you know best though...0 -
Silverbull wrote: »Chucky do you think all these getting house benefit in London will stay in London when most of their 500wk is going to pay their rent and council tax?
If they move away from London they will be able to keep more of their 500wk for food and living.
Do not forget this cap applies to everyone pensioners or disabled, those families with low earnings, everyone.
I don't know where you are in the country but your arguments are simplistic.
Even in the same borough their are cheap and expensive rentals available. Sometimes on the same street due to how council, ex-council and private properties are mixed. For example I use to pay half the rent of my peers to rent a room and that was within less than half a mile of a couple of them.
At the moment there are LLs taking the p*ss with HB and ensuring the rents are the maximum the local council will pay.
When HB cuts are made those LLs who charge under what the local council will pay won't cut their rent they will keep them the same. So their tenants won't benefit.
Those who have exploited the fact that the local council will pay so much rent, if their property is in a good condition will just evict the tenants. However if their property is in a poor condition they will just lower the rent as they know no-one will rent the property.
Also if there is a mass exodus it won't be out of London it will be to cheaper parts of the same borough or cheaper parts of London i.e. Croydon, Barking and Dagenham. Low paid workers already take the cheapest transport to work i.e. walk, take a bus all it would mean is that they would have to take a bus instead of walk or two buses instead of one.
The vast majority of people won't move due to lack of family and friend support where they move to. For example my disabled neighbour relies on her mother and her daughter to look after her. If she moves out of London there is no-one to look after her.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
Graham_Devon wrote: »The grant is £20m.
That won't go very far.
Exactly Chucky seems to think it will never run out.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards