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House prices up

LGFOX

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The East Midlands is the 3rd highest. Up over 10% in the last year. Who’d have thought that.
 

Billsballbag

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A bunch of corporate London twats moving to Harboro District.

Good luck.

Tarquin why doesn't the village shop stock Taragon?
 

MrTeabreak

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rishi knew what he was doing.
The suspension of stamp duty has allowed people to 'move up' from smaller to larger and keep house prices growing artificially.
There's no benefit for first time buyers as you are already exempt, it's a fake market bubble that disproportionately benefits Tories in tory areas.
They love a free market, unless they need to meddle in it to make it work to their advantage.
 

Billsballbag

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MrT is quite right.

However the rise in prices is also down to a pretty unreal Interest rate environment, help to buy getting well out of hand and a flight from city living.
 

AFCDorset

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Government meddling in house prices (and therefore rents too) has never worked other than to help those with cash to exploit the changes in the market to their advantage.

The governments responsibility should be limited to balancing demand and availability in general terms. Leave the rest to the market.
 
Government meddling in house prices (and therefore rents too) has never worked other than to help those with cash to exploit the changes in the market to their advantage.

The governments responsibility should be limited to balancing demand and availability in general terms. Leave the rest to the market.
The Govt should be getting involved by building more social housing and enforcing more affordable housing be included on new projects.
 

MrTeabreak

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Yeah, let’s all pay more tax
It's an optional tax, if you don't buy another house, you don't have to pay it.
It's market manipulation, rishi did it to stave off house price crash due to brexit and covid, and as i said before it disproportionately benefits current home owners looking to move up, the bigger the house the more you save. Who does that benefit the most?
If he doesn't extend it past March 31st, house sales will dry up in the second half of the year. Estate agents are already pushing for it to continue.
 

DagenhamFox

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It's an optional tax, if you don't buy another house, you don't have to pay it.
It's market manipulation, rishi did it to stave off house price crash due to brexit and covid, and as i said before it disproportionately benefits current home owners looking to move up, the bigger the house the more you save. Who does that benefit the most?
If he doesn't extend it past March 31st, house sales will dry up in the second half of the year. Estate agents are already pushing for it to continue.
It won’t affect me one bit. I do want to move out of Dagenham but realistically not for a couple of years.
 

AFCDorset

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The Govt should be getting involved by building more social housing and enforcing more affordable housing be included on new projects.
No it should not.

Affordable housing should be provided by balancing supply and demand, meddling including subsidies or incentives only make things worse.
 

AFCDorset

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Do you count the stamp duty holiday as a subsidy?
Hadn't thought about it specifically, bought our current home just over 3 years ago so in that case paid about £10k over the top.

Assuming that you consider stamp duty to be a 'fair' tax, then any 'selective' reduction would be a subsidy which would go against my free market principles.

It is my opinion that when a government messes with a functioning market it invariably makes things worse, best not to.

It's not meddling. There's plenty of demand but first time buyers can't afford to get on the property ladder.
That is true Club Book but the answer is not to subsidise 'some' houses.

Homes in the UK are often way more expensive than their material costs would suggest, it is demand that drives the market.

Balance demand and supply and prices will fall, it may take a while as the market adjusts but that will be the outcome.

Build more homes or find a way to limit demand, make a choice.
 

AFCDorset

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Sadly in places like Bournemouth there is a lot of flat building but it goes straight to the buy-to-let market.
May well have been true once SF, but not so much now with punitive taxation and more red tape and restrictions.

There are a fair number of 'retirement' properties on short leases and a busy rental sector to the east of the town centre that caters to the student market, Poole on the other hand is a working town and prior to covid, both the sales and rental markets were quite stable.

Given our recent thoughts of heading back to Spain, we looked into renting our flat, rent values are pretty standard, roughly 5% of the property value gross but with tax, management fees and other expenses the returns are not that great.
 

AFCDorset

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Too many houses being built on flood planes and greenbelt, council houses should never have been sold off by local Government. It is imposable to meet demand now with the lack of trade skills and suitable land.
Reduce demand then.

Stop importing people by the hundreds of thousands, the population of Newcastle every 5-6 months!

Start training our own engineers and builders, tradesmen too, stop relying on cheap imports.
 

HughJanus

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There are plenty of houses, there’s just too many people.

There are loads of houses being built if there is a shortage of skills it’s because of our obsession with going to university

With interest rates so low there’s no point in saving so buying property makes more sense, just look at amount of speculative industrial units being built
 
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Running Fox

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Reduce demand then.

Stop importing people by the hundreds of thousands, the population of Newcastle every 5-6 months!

Start training our own engineers and builders, tradesmen too, stop relying on cheap imports.
I totally agree , but no one in power listens, I was working on a house last year looking out on beautiful fields only to be told they were all marked for building on in the next few years. It does not matter that we do not have the infrastructure or schools to accommodate. Villages are being joined together and there culture and history lost.
 

Billsballbag

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They should tax the crap out of buy to let and air b n b.

They shouldnt need to build more social housing but the fact is they simply won’t let house prices drop even though that’s the most sensible and fair thing to do.
 
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