Would you support or oppose proposals for the government in introduce a “rent control

cells

CLAPTON wrote: »

there are 500,000 immigrants into the UK each year (yes i know about 250,000 emigrate)
and about 1 million young people leaving home for the first time

the majority of these people will neither have a deposit for buying nor the ability to get a mortgage
if we close down rentals, where would they all live?


Most of the 'young' people, at least in London and the SE will start off living in flat shares : mainly because its cheaper and so they can start to save for a mortgage:

I doubt many of these people will buy an equivalent property when they get on the housing ladder.

So the majority if FTBs will have been living in modest housing (a couple living in a one bed flat or flat sharing with another couple). They will typically buy a 2 bed flat or a house (obviously it depends upon which part of the country you live).

Currently the rental market is about 19% of the stock and rising rapidly

As recently as the year 2000 it was less than 10% of the stock and even in 2007 it was less than 13% of the stock

10% seems to work fine,
The other 90% could be owners (or owners plus state)


but instead, if current trends continue, the rental market in 2025 will become >25% of all households....not a good direction

CLAPTON

cells wrote: »

Currently the rental market is about 19% of the stock and rising rapidly

As recently as the year 2000 it was less than 10% of the stock and even in 2007 it was less than 13% of the stock

10% seems to work fine,
The other 90% could be owners (or owners plus state)


but instead, if current trends continue, the rental market in 2025 will become >25% of all households....not a good direction

since 2000 the population has increased by several million

the aging people don't seem to be downsizing significantly

the issues are not the same over the country with greater pressue on the SE and London

we need to build more houses

rent caps are not the answer

cells

CLAPTON wrote: »

since 2000 the population has increased by several million

and........

CLAPTON wrote: »

the aging people don't seem to be downsizing significantly

they never have on net.......

CLAPTON wrote: »

the issues are not the same over the country with greater pressue on the SE and London

true, London took more than its fair share of the population pie because its housing stock was relative to the rest of the country under occupied......but can that happen in the next 15 years too or is this going to be a much more national problem in the coming years?

CLAPTON wrote: »

A. we need to build more houses

B. rent caps are not the answer

but B would lead to A........
nothing else seems to have worked over the last 15 years to achieve A.......

CLAPTON

cells wrote: »

and........



they never have on net.......



true, London took more than its fair share of the population pie because its housing stock was relative to the rest of the country under occupied......but can that happen in the next 15 years too or is this going to be a much more national problem in the coming years?




but B would lead to A........
nothing else seems to have worked over the last 15 years to achieve A.......

if I understand you correctly, the idea is that rent caps would be so disastrous that people would be sleeping on the streets, riots would rock the cities etc.
You then see the result would be to build more houses : well maybe, maybe not, they may simply cancel rent caps

cells

CLAPTON wrote: »

if I understand you correctly, the idea is that rent caps would be so dithe bufftrous that people would be sleeping on the streets, riots would rock the cities etc.
You then see the result would be to build more houses : well maybe, maybe not, they may simply cancel rent caps

I don't think it will get to that and either way its something that will take a few years while the buffers fill up

Before the buffers are full and the overspill literally spills onto the streets they will up build rates.

CLAPTON

cells wrote: »

I don't think it will get to that and either way its something that will take a few years while the buffers fill up

Before the buffers are full and the overspill literally spills onto the streets they will up build rates.

the speed of change very much depends upon what sort of conditions were imposed but they could be very swift.

cells

CLAPTON wrote: »

the speed of change very much depends upon what sort of conditions were imposed but they could be very swift.

I dont even know why we are talking about this carp its not going to happen (rent caps)

my general point was that policies especially economic ones have more than one variable and aspect to consider. In this case, a rent cap would imo lead to higher build rates (rather than lower which would be the initial guess)

likewise staying on this topic, generally at least on this board it seems to be accepted that blue = more economic output and red = less

on a very long term view that might be true, but certainly on a 5 year time-scale, again this is my guess, the factor that will most impact who will do better with the economy will be who builds the most homes.

300k home difference = probably ~£100B difference to GDP

im not sure what other single policy or tax change is going to make a £100B difference in that timeframe

mickey54

patman99 wrote: »

There is already a scheme to regulate and cap rent in the private sector.
A friend of mine has lived in private rented for the last 30 years (in the same house). He was telling me that his rent is set by some kind o rent review board (can't remember the exact name).

His landlord is told how much rent they can charge and that this will be reviewed every 3 years. He pays around £300 p/m less than his neighbour (who has no idea such a scheme exists).

His tenancy is also protected so his landlord cannot kick him out without a costly Court case.

There are also tenants in social housing who are in rent registered scheme...and rent can only be increased every three years. If you disagree with increase, you can apply to rent tribunal to intervene and agree rent increase. I think that's only relevant if you have been in tenancy since prior to 1989

antrobus

mickey54 wrote: »

There are also tenants in social housing who are in rent registered scheme...and rent can only be increased every three years. If you disagree with increase, you can apply to rent tribunal to intervene and agree rent increase. I think that's only relevant if you have been in tenancy since prior to 1989

Pre 15 January 1989 Housing Association tenants are in much the same boat as pre 1989 private rental tenants; they are secure tenants, and they pay a 'fair rent' determined by the Valuation Agency.

Interestingly enough, details of such registered rents are a matter of public record. And available online if they are fairly recent. So you can, if you like, go nad have a look, and marvel about how little some of your neighbours are paying in rent.

https://ebusiness.voa.gov.uk/err/SearchRegisterForm.aspx?AspxAutoDetectCookieSupport=1