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Realistbear

E As Blame Rocketing Council Tax For Ftb Woes

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http://www.naea.co.uk/the_naea/general_pub...id=217&PageNo=1

TAX HIKES THE FINAL INSULT TO FIRST TIMERS 28 / Feb / 2006

News that council tax bills are to increase by more than twice the level of inflation this year could be the final straw for rapidly disappearing first time buyers, according to the National Association of Estate Agents (NAEA).
Chief executive of the NAEA Peter Bolton King says; “That crucial first rung of the property ladder is slipping further and further out of reach for most first time buyers. Those without family help to fall back on are already despairing at the lack of suitable homes for them, and the fact that council tax has now doubled in just ten years will be the breaking point for many, who will simply be unable to save.”
At the very least the Government should look to making some serious amendments to stamp duty levels,

With FTBs now effectively out of the market, could the VIs be worrying that their hype and spin is killing off their only hope for continuing profits? Even if Stamp Duty were abolished it would not make any difference.

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Council tax is far from nice, but let's put this into perspective for a moment, £100 a day in house price inflation is good and not a problem, £100 per annum on the council tax is the end of the world and the root cause of all evil?

In the housing market everything seems to be set against the margins for borrowing and anything that limits that margin, like energy, water, tax is bad news. This is what happens when you fudge the inflation figures, something has to give, and that seems to be the retail and the housing market, and the latter has given the former a good battering of its own.

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What if this guy really believes it. What if this isn't a desparate ploy to explain away a poorly performing market but actually what they really really think ???

No doubt many middle ranking or new employees actually believe this guff, this wouldn't suprise me at all (look at Enron!), however it's pretty clear that high echelons and the PR people know the score, the latter have to know what they're spinning against if only so they don't make themselves look stupid. A sure sign is when exec's are dumping stock in their own companies like there's no tomorrow.

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It's rather pathetic, to say the least. Who wouldn't want a reduction in council tax but primarily to fund HPI? We need a reduction in interest rates too for the same reason? Why not reduce the interest rate down to zero and see how many ex-council houses we can shift for a million quid?

Why not talk about the pensions crisis that has prolonged this boom? Talk about raising stamp duty on second homes? Talk about tripling council tax on third homes? Talk about preventing all houses below 300 grand being bought up by BTLers? You could even talk about forcing builders to sell to FTBers only but instead he wants to talk nonsense.

Next time he just needs to cut and paste the following: The prices of houses are too high and this is why the FTB is ****ed.

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Council tax is far from nice, but let's put this into perspective for a moment, £100 a day in house price inflation is good and not a problem, £100 per annum on the council tax is the end of the world and the root cause of all evil?

In the housing market everything seems to be set against the margins for borrowing and anything that limits that margin, like energy, water, tax is bad news. This is what happens when you fudge the inflation figures, something has to give, and that seems to be the retail and the housing market, and the latter has given the former a good battering of its own.

Very good point Buying bear. Like it.

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Council tax is far from nice, but let's put this into perspective for a moment, £100 a day in house price inflation is good and not a problem, £100 per annum on the council tax is the end of the world and the root cause of all evil?

:lol::lol::lol:

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  • 341 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%



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