Wednesday, July 25, 2007
Interesting reading in the Gordian
"Cooper will urge councils to use their 2006 powers to stop the buy-to-leave-empty market, where investors find the value grows more by leaving property pristine, so whole blocks are sometimes built, sold and left. She will urge councils to chase owners of any property empty for more than six months and not on the market. What of buy-to-let? There is nothing wrong with landlords renting out, since it still houses people. But the rush to use housing as investment has inflated prices. (A whole Doncaster street was bought with one City bonus.) Will Cooper stop the unfair tax incentive that lets landlords charge their mortgages against profits? That, says the government cryptically, is a matter for the budget, but it should be done in order to cool speculation."