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

Affordable Housing, Did It Ever Exist ?

Recommended Posts

Why do you think there is no affordable housing in the UK ?

a) There simply is not enough houses to meet demand ?

B) The population is growing faster than houses can be built ? immigration is increasing, property development has stalled ?

c) BTL'ers have bought a significant quantity of housing stock thus putting pressure on remaining housing stock and their prices ?

d) Eager home buyers have borrowed too much due to irresponsible lending, sustaining artificially high prices ?

I'm not sure whether that's an exhaustive list, or if there is more detail to add to each possible explanation or whether more can be added. I'm curious as to what the general consensus is to where we are now.

But more importantly, is what could be done to correct the above or return things to a level of reasonable house prices. Or is that a fallacy, because of landlords, people using properties as investments for rentals etc. will always seek profitable gain from houses ?

Personally i would like clear legislation from the government that says houses are simply for living in, and the primary concern is the population having the opportunity to buy their own home. And once that is satisfied, surplus stock could be used to satisfy the remainder of the housing market.

I'd be interested to hear views and opinions on the above.

Lewis

[i am a FTB, average wage, live in Surrey, seeks 2-bed house to house wife and expecting child. Willing to sell my soul for the privilege - properties in the Costa Del Sol, mobile park homes and shared ownership homes need not apply.]

Share this post


Link to post
Share on other sites
I am a FTB, average wage, live in Surrey

can you be more specific.?

surrey is NOT an occupation.

average wage for a doctor in bolton is 5p.

average in surrey. 12 gigallon per hour. + tips.

i mean. what gives ?

Share this post


Link to post
Share on other sites

can you be more specific.?

surrey is NOT an occupation.

average wage for a doctor in bolton is 5p.

average in surrey. 12 gigallon per hour. + tips.

i mean. what gives ?

My occupation is that of an IT professional, or more specifically an IT Support Engineer.

Share this post


Link to post
Share on other sites

thats quite a wide catchent of occupation and salary variation in IT.

i was hoping youd say static security guard for £6.40p per hour or something.

can you be more pacific.?

i mean. are you in charge of the mouse mats at the community centre or some unix whizz.?

Share this post


Link to post
Share on other sites

thats quite a wide catchent of occupation and salary variation in IT.

i was hoping youd say static security guard for £6.40p per hour or something.

can you be more pacific.?

i mean. are you in charge of the mouse mats at the community centre or some unix whizz.?

Salary £30k pa. Hope that helps.

Share this post


Link to post
Share on other sites

thats a tame tiger for such a leafy county.

its lower than fred dibnahs final salary.

id quit IT and become some country doctor or something.

specialise in orthopedics. or pathology. criminal pathology.

gentlemen. i give you the world of medical science....(quincys big cop students fall over sick etc)

Share this post


Link to post
Share on other sites
Why do you think there is no affordable housing in the UK ?

Absurdly low interest rates, absurdly lax lending policies and absurd planning restrictions.

Share this post


Link to post
Share on other sites

Why do you think there is no affordable housing in the UK ?

a) There simply is not enough houses to meet demand ?

B) The population is growing faster than houses can be built ? immigration is increasing, property development has stalled ?

c) BTL'ers have bought a significant quantity of housing stock thus putting pressure on remaining housing stock and their prices ?

d) Eager home buyers have borrowed too much due to irresponsible lending, sustaining artificially high prices ?

I'm not sure whether that's an exhaustive list, or if there is more detail to add to each possible explanation or whether more can be added. I'm curious as to what the general consensus is to where we are now.

But more importantly, is what could be done to correct the above or return things to a level of reasonable house prices. Or is that a fallacy, because of landlords, people using properties as investments for rentals etc. will always seek profitable gain from houses ?

Personally i would like clear legislation from the government that says houses are simply for living in, and the primary concern is the population having the opportunity to buy their own home. And once that is satisfied, surplus stock could be used to satisfy the remainder of the housing market.

I'd be interested to hear views and opinions on the above.

Lewis

[i am a FTB, average wage, live in Surrey, seeks 2-bed house to house wife and expecting child. Willing to sell my soul for the privilege - properties in the Costa Del Sol, mobile park homes and shared ownership homes need not apply.]

britain is quite densely populated compared to ireland but despite the low population density house price in ireland exceed uk. in ireland we are building 4 times as many houses per capita as uk so im sure british developers could ramp up production with cheap builders from eastern europe,planning/speculation and belief property is great investment regardless of timing /irrational obession with owning a property- may be some of the reasons, BTL is proabably involved,more women work now than in earlier decades which increases household income,,

Share this post


Link to post
Share on other sites

I would just like to make a little point here.

The construction costs in terms of Labour and Materials for very little with regad to the cost of a house.

The land is the inhibitor.

Using cheap labour would at best wipe less than 3K in Labour from the price of a 4 bed estate newbuild that would sell for 380K.

Share this post


Link to post
Share on other sites
Affordable Housing, Did It Ever Exist ?

Yes! It did!! There's some one-bed apartments that are currently selling for about £100K near where I live. When they were first built they were £30K. That was easily affordable - even for me, though at the time the whole concept of buying a home was far too scary so I missed out.

Share this post


Link to post
Share on other sites

I've used this example before, but when I moved here to Bristol I started renting a flat that was built in 2001. It sold for just over £60k. When the landlord decided to sell it, it went up on the market (2004) for just under £130k. In that time he did absolutely nothing whatsoever to the flat, so I fail to see why it should suddenly be worth an extra £70k. House prices have gone up because people have been more and more willing to pay stupid money for them due to low interest rates and lax lending policies. The vast majority seem to think of the "now" rather than considering the future and so buy an absurdly overpriced place but have affordable monthly payments due to the current financial climate. It doesn't occur to them that should anything not go in their favour (e.g. not able to get a good mortgage deal when lending policies get tightened, interest rates going up, illness, redundancy, etc.) they will suddenly be in trouble.

Share this post


Link to post
Share on other sites

"In that time he did absolutely nothing whatsoever to the flat, so I fail to see why it should suddenly be worth an extra £70k"

Interesting point. Houses will become affordable again.

First we had house prices increasing in value without any work done.

Then we had house prices increasing even further if they were redecorated to contemporary neutral colours.

Then the money ran out.....

Then houses had to be redecorated in neutral just to sell quicker over the ones not redecorated....

Then houses had to be redocrated and lowered in price ("competitively" as estate agents say) to sell

What happens next? The trend is down.

Edited by notanewmember

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

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.