Jump to content
House Price Crash Forum
Sign in to follow this  
happy_renting

Reading Muppet Council

Recommended Posts

Reading Council has just announced a plan to buy 100 homes ayear in the area for the next 5 years, to let them out. 500 in total.

Some will be let out at 'market rents', any profits being used to subsidise the rents on the rest of the properties, which is 'emergency housing'.

The reason being given that rental housing is too expensive in the area, and people can't afford to buy in the area.

So they willl 'invest' taxpayers money in a rental market that is otherwise likely to fall because of the new BTL taxation regime, and thus prop up house prices as a result of their 'investment'.

****ing muppets - and I bet a few Councillors are BTL landlords to boot.

Edited by happy_renting

Share this post


Link to post
Share on other sites

put a FOI in about how they wil choose the properties. Which landlords will be chosen to be relieved of their properties?

No doubt one or two members getting nervous and looked for a quick exit

Share this post


Link to post
Share on other sites

I thought local government was supposed to be broke... 500 properties at, say, £250k a pop is £125m.

Share this post


Link to post
Share on other sites

This is such a stupid idea. On a positive note, 500 homes in Reading is a drop in the ocean and I'd rather rent from council than from slumlords.

It will be interesting to see how the transactions will happen - there is a lot of kite-flying at the moment, as the advertised prices are more like £300-350k rather than £250k.

Share this post


Link to post
Share on other sites

Council buys houses at high prices, then sells them hugely reduced on right to buy?

How much will council tax need to go up in the future to pay for a guaranteed loss making scheme?

Edit to add... it's not just about who the council is buying these houses from, it's which lucky people are going to rent them and ultimately buy at a huge discount.

Edited by Democorruptcy

Share this post


Link to post
Share on other sites

Must have a lot of money. The council round here is trying to sell its land holding for development (not much success, full of nimbys and the clowncillors seem to pick land for sale nowhere near them, raising accusations of their own nimbyism) presumably to fund pensions or something.

Share this post


Link to post
Share on other sites

I'm not a Reading resident BTW.

A FOI request might be more revealing after the property transactions have taken place - but then, too late to do much about it.

Keep a look out for similar shenanigans in your own local authority areas, folks.

Share this post


Link to post
Share on other sites

Must have a lot of money. The council round here is trying to sell its land holding for development (not much success, full of nimbys and the clowncillors seem to pick land for sale nowhere near them, raising accusations of their own nimbyism) presumably to fund pensions or something.

I heard a retired bloke in the pub recently who used to be a councillor, saying he is always telling people complaining about building, to join the council to block it.

Share this post


Link to post
Share on other sites

Just a local manifestation of what happens nationally. Government is using taxpayers money to bid up house prices and rents. HTB 1-3, Lha etc. Government is setting the market price by acting as buyer, rent payer and lender for the whole market. I can't see how they can be stopped.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   100 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.