Wow!

Bantex_2

Percy1983 wrote: »

Just a thought, if you don't live in this country surely you don't need a house here?

Good to own a few if they are increasing in value by 20% per year though.

I believe that a fair few of teh flats at the Battersea Power Station development have changed hands many times since first bought, and they havn't even been built yet.
Apparently when finished, renting them out will reduce their tradable investment value, so they are likely to remain empty.
Seems mad when there is a shortage.

IveSeenTheLight

Bantex wrote: »

not sure what your question means, but if a bought a car 18 years ago I would not expect to be able to hire it out at current rental prices.

I had thought you would jump to a link to a depreciating asset as opposed to a similar asset which has significantly increased in value.

How does this fit in.

http://www.greatescapecars.co.uk/pricesbooking-pricebands.asp

Based on a similar monthly rental a Jaguar E Type hire would be £4,500 per month.
An E-Type convertible would be £7,500 per month

Incidentally, there is also heavy restrictions on the milage per day

Meanwhile, you can buy one for £21,995
http://www.autotrader.co.uk/classified/advert/201405164245628/sort/default/usedcars/model/e-type/make/jaguar/page/1?logcode=p

That represents a Rental Yield of 409%.

In comparison, renting a house is far better value than renting an old car

IveSeenTheLight

Percy1983 wrote: »

This is the balance I mention, if there was less being bought to rent there would be more oo's, but as mentioned at times the potential oo's are being outbid by LL's.

As said this will just go in circles, those involved either are blind to the moral hazards or they just don't care, either way they aren't going to stop, as I say you can't stop greed.

The conflict and the moral hazards you are forgetting, is that this would impact the Rental market considerably more than it affects the OO market.

Do you neglect those that choose / need to rent because your requirement personally is for more OO occupiers

IveSeenTheLight

Percy1983 wrote: »

Just a thought, if you don't live in this country surely you don't need a house here?

I lived abroad for a few years but kept my UK properties.
The reason was I knew I would return at some point.

I'm also aware and have read many reports of people who sold up, moved and bought abroad and now cannot afford to return.

Seems history shows that it's best to keep hold of UK property, even if moving abroad.

Percy1983

IveSeenTheLight wrote: »

The conflict and the moral hazards you are forgetting, is that this would impact the Rental market considerably more than it affects the OO market.

Do you neglect those that choose / need to rent because your requirement personally is for more OO occupiers

I am just putting forward what would be the best in what is a bad situation.

Yes more oo's means less property to rent but also less people trying to rent.

Yes one way might push rents up slightly while the other pushes house prices up.

I would rather we weren't in a situation where this wasn't even up for discussion.

I would say right now a large number of renters want to be oo's, so in short I propose why not let that happen, those who want to rent can rent and those who want to buy can buy, the problem I currently have is there is a large overlap which are currently forced to rent and if legislation isn't going to protect them which long tenancies and reasonable rent caps then the only option is to buy.

TickersPlaysPop

Hi all

When I say non resident I was trying to use a term that couldn't be misinterpreted as a fear of poeple that are not British or foreign! I love different cultures and ways of life, and work in a team of people from around the world.

I was basically trying to suggest we need to stop profiteering from abroad. Fair enough to own 1 property while you live outside UK. But not a portfolio of properties, and especially not the craziness that is happening in central London.

Sorry mayo.... I'll limit my use of the annoying slogan! :-)

We need to stop the culture of investing heavily in residential property... fair enough investing in commercial property, my mum did it a while ago in the form of a small office space she rents out as a pension.

This new healthy and creative culture can be created by government bringing in laws, rules and regs to make it more attractive for individuals to invest in things that create jobs and value through growing sustainable businesses. Individuals Investing in residential property in the way it has been happening is not good for our country.

Would restricting new builds to owner occupiers only work?

CLAPTON

TickersPlaysPop wrote: »

Hi all

When I say non resident I was trying to use a term that couldn't be misinterpreted as a fear of poeple that are not British or foreign! I love different cultures and ways of life, and work in a team of people from around the world.

I was basically trying to suggest we need to stop profiteering from abroad. Fair enough to own 1 property while you live outside UK. But not a portfolio of properties, and especially not the craziness that is happening in central London.

Sorry mayo.... I'll limit my use of the annoying slogan! :-)

We need to stop the culture of investing heavily in residential property... fair enough investing in commercial property, my mum did it a while ago in the form of a small office space she rents out as a pension.

This new healthy and creative culture can be created by government bringing in laws, rules and regs to make it more attractive for individuals to invest in things that create jobs and value through growing sustainable businesses. Individuals Investing in residential property in the way it has been happening is not good for our country.

Would restricting new builds to owner occupiers only work?

we have about 4-500,000 immigrants arriving in the UK each year

plus there are many young people leaving home each year to start their first job -I don't know the number but lets say 200,000 (probably too low)

so we have around 700,000 people per annum who are unlikely to have the deposit for a property or the financial back ground to
qualify for a mortgage

where do you think they should live?

CLAPTON

TickersPlaysPop wrote: »

Would restricting new builds to owner occupiers only work?

what percentage of new builds do you think are bought by Owner occupiers and what by small landlords and what by large landlords?

TickersPlaysPop

We should talk about net movement of people, not just the number moving in. Also do we trust the figures from a dept that has already admitted it got the numbers wrong?

Young poeple are increasingly staying at home until close to their 30's, did you not know that? Then many leave to house share or rent rooms not whole houses. Then purchasing a their own family home it is only possible on 2 incomes, then that holds couples back from having babies.... Or leaves people trapped in child care conundrum, where grand parents pick up the baton.

Regarding new builds and buy to let.... I'm sure somebody on here knows the answer to that? I'm just coming up with ideas that show there is something that can be done.

Just like the idea of making core funding to local authorities conditional to encourage house building, maybe a target of planning application approvals per year based on a UK balanced plan of where we decide new properties are needed?

CLAPTON

TickersPlaysPop wrote: »

We should talk about net movement of people, not just the number moving in. Also do we trust the figures from a dept that has already admitted it got the numbers wrong?

Young poeple are increasingly staying at home until close to their 30's, did you not know that? Then many leave to house share or rent rooms not whole houses. Then purchasing a their own family home it is only possible on 2 incomes, then that holds couples back from having babies.... Or leaves people trapped in child care conundrum, where grand parents pick up the baton.

Regarding new builds and buy to let.... I'm sure somebody on here knows the answer to that? I'm just coming up with ideas that show there is something that can be done.

Just like the idea of making core funding to local authorities conditional to encourage house building, maybe a target of planning application approvals per year based on a UK balanced plan of where we decide new properties are needed?

you make no sense

where do you expect these people to live, given you have repeatedly said that you want to massively reduce private rental property.

where do you want them to live?

are you denying that there are immigrants arriving in the UK each year that will not qualify for mortgages or can buy their own home outright?

where do you expect them to live ?
the net figures are irrelevant unless you expect the people leaving to sell their house to evil landlords to provide for the immigrants.


are you denying that young people move out of home into private rented accommodation which you totally disapprove of and want massively reduced?
if my figure is wrong what do you estimate it ?
yes I know that they flat share but they are in the evil landlord properties.

where would they live if small rental businesses were destroyed