All of a sudden "HPI" seems to be a bad thing.

purch

CLAPTON wrote: »

why is there such a shortage of housing in the SW?

No jobs.

It's only relatively recently that the "affluent" retired have decided that the SW is the place to go to in huge numbers.

On the other hand, they are building like crazy on every available plot they can find currently along the A38 corridor between Exeter and Bridgwater, and if you drive along the M5 you will see that Weston super Mare now reaches the motorway.

Of course if they end up not building Hinckley Point C then many of those houses might not be needed.

TickersPlaysPop

My area mid kent did not crash in 2008, it just dropped very slightly and stalled.

The march forward of buy to let is almost unstoppable now the gov is supporting it financially ("build to rent scheme") after the select committee report called for more rental properties.

This is a disaster for our country if laws and regs are not brought in to prevent a run away house price increase, an increase that would not necessarily crash which would be even worse. It will leave us with an even greater distortion in the housing market where many are left out and exploited (robbed) of their hard earned money for a roof above their head.

This will end in tears and a revolt from those who will be increasingly pushed and held in poverty.

New builds should be only open in the first instance for people wanting to own and occupy.... only when nobody comes forward should it be opened for buy to let..... please can somebody come up with ideas to make this suggestion viable?

PasturesNew

CLAPTON wrote: »

why is there such a shortage of housing in the SW?
there is no shortage of land as is the case in London and to some extent the SE

All manner of reasons... same as other places:
• Not enough new ones being built
• Second homes/holiday lets

Like everything, there are pockets here and there where stuff's snapped up and where stuff sits and doesn't sell.... looking at the ones that sit on the market for 2 months before being sold, I don't want to buy that sort of house/in that location.

If I didn't care where a house was or what it looked like then I'd have more choice..... but if we're buying we do care more about these things as we're committing to it. By setting these little pockets of places where we could buy it restricts available property. It only takes 50 BTLers viewing every property within a 20-30 mile radius to be affecting everybody in all the pockets - and many BTLers are even buying up stuff 100-300 miles from where they live if it's cheaper there.

BTLers are thicker on the ground in the "cheaper seats", which is where I'm looking. e.g. in my small town on RM there are:
• 300 houses for sale, from £170k to £1.7million.
• In my price bracket there are 6 for sale.

Guess which price bracket the BTLers want.....

PasturesNew

BBC News covering Reading (on the Breakfast programme) - flats being snapped up by investors. A block all sold off plan to an overseas investor.

Real buyers being outbid by sealed bids, going to investors - and entire blocks being sold to overseas investors.

TickersPlaysPop

I've said this before, to dampen house price increase we could stop overseas investment.... then there is the "what about UK citizens living abroad?" Maybe 1 or 2 properties going forward... I.e. You can leave the Uk but keep your house and rent it out... Fair enough... But not buy up lots of properties.

The things is.... this whole system is being rigged to support house price inflation and support the rental sector.... That is what the banks want because they make money and reduce risk by only lending to safe borrowers...

We should stop cash buyers from overseas... That is and brainier surely?! And would be an indication that gov are actually trying to share wealth amongst us all rather than suppress many into renting.

purch

PasturesNew wrote: »

Real buyers being outbid by sealed bids, going to investors - and entire blocks being sold to overseas investors.

Now THAT is something UKIP should be campaigning against :eek:

CLAPTON

TickersPlaysPop wrote: »

My area mid kent did not crash in 2008, it just dropped very slightly and stalled.

The march forward of buy to let is almost unstoppable now the gov is supporting it financially ("build to rent scheme") after the select committee report called for more rental properties.

This is a disaster for our country if laws and regs are not brought in to prevent a run away house price increase, an increase that would not necessarily crash which would be even worse. It will leave us with an even greater distortion in the housing market where many are left out and exploited (robbed) of their hard earned money for a roof above their head.

This will end in tears and a revolt from those who will be increasingly pushed and held in poverty.

New builds should be only open in the first instance for people wanting to own and occupy.... only when nobody comes forward should it be opened for buy to let..... please can somebody come up with ideas to make this suggestion viable?

remind me : where do you expect the 4-500,000 new immigrants that arrive here each year, to live?
do you expect them to buy immediately?
or do you expect them to rent?
if to rent would this be private sector?
or would the government provide that accommodation?

similarly there are 100,000s of young people that leave the parental home each year: where do you want them to live ?


It's unclear why you think keeping new builds empty for six months, will improve the UK housing problem.

Graham_Devon

purch wrote: »

Now THAT is something UKIP should be campaigning against :eek:

They are I believe. Was mentioned on a thread a few months back and it was seen as racist if you set up measures to stop people from other countries buying here.

CLAPTON

PasturesNew wrote: »

All manner of reasons... same as other places:
• Not enough new ones being built
• Second homes/holiday lets

Like everything, there are pockets here and there where stuff's snapped up and where stuff sits and doesn't sell.... looking at the ones that sit on the market for 2 months before being sold, I don't want to buy that sort of house/in that location.

If I didn't care where a house was or what it looked like then I'd have more choice..... but if we're buying we do care more about these things as we're committing to it. By setting these little pockets of places where we could buy it restricts available property. It only takes 50 BTLers viewing every property within a 20-30 mile radius to be affecting everybody in all the pockets - and many BTLers are even buying up stuff 100-300 miles from where they live if it's cheaper there.

BTLers are thicker on the ground in the "cheaper seats", which is where I'm looking. e.g. in my small town on RM there are:
• 300 houses for sale, from £170k to £1.7million.
• In my price bracket there are 6 for sale.

Guess which price bracket the BTLers want.....

sadly, there really is no solution to wanting to buy in an (relatively) expensive area but without means to do so.

I've been down in the SW recently and have been a little surprised at the amount of new building going on, so maybe prices will stabilise or even fall.

Bantex_2

CLAPTON wrote: »

sadly, there really is no solution to wanting to buy in an (relatively) expensive area but without means to do so.

I've been down in the SW recently and have been a little surprised at the amount of new building going on, so maybe prices will stabilise or even fall.

Doubt it, as soon as builders see supply possibly causing price falls, they will stop building and just mothball the land. Sitting on the land costs very little.