Help to get elected scheme

[DoctorStrangelove]

There are whole Chinese developed and owned apartment buildings in central Manchester that have only "nominal" occupation. Obviously in waiting for the invasion...

Our overlords in the PLA will have to live somewhere. .

[Zigenare]

Probably. Sounds like the sort of thing they'd do.

The Chinese like to buy new builds and leave them empty, from what I've been lead to believe.

There are whole Chinese developed and owned apartment buildings in central Manchester that have only "nominal" occupation. Obviously in waiting for the invasion...

[NotAllThere]

Foreign owners= multiple council tax bills.

I looked at buying a house with my sister-in-law. The stamp duty for non-residents was eye watering, so we didn't go through with it.

[SueEllen]

Probably. Sounds like the sort of thing they'd do.

Ahh found it -

The Guardian article is from 2014 - https://www.theguardian.com/society/...ions-hampstead

The Chinese like to buy new builds and leave them empty, from what I've been lead to believe.

I still remember to talking to a Chinese colleague when I was in my 20s who was horrified that British people liked living in very old houses. She told us (me and some other colleagues who were from a variety of countries) that they knock down old properties and rebuild them as no-one likes living in a property someone else has lived in.

[ladymuck]

Didn't The Guardian release some drone pictures of decaying houses in prime London hotspots? As their owners let the houses rot rather than get someone - anyone - to live in them.

Probably. Sounds like the sort of thing they'd do.

The Chinese like to buy new builds and leave them empty, from what I've been lead to believe.

[SueEllen]

Although not much of a deterrent if you're loaded. Even the potential four times premium for empty property doesn't seem to do much.

Didn't The Guardian release some drone pictures of decaying houses in prime London hotspots? As their owners let the houses rot rather than get someone - anyone - to live in them.

[jamesbrown]

I was under the impression that the Help to Buy scheme wasn't all that great? I was never eligible for it so don't know if it's true.

Further housing inflation isn't what's needed. Whilst it will be painful for many, a wholesale price reset is what's needed but the BoE and HMT seem hell bent on propping up the housing market at all costs.

However, I am concerned that should prices fall, it'll just be overseas buyers snapping up the property unless something is legislated to restrict overseas property ownership

It's a load of crap and many will have lost money under the scheme. It's mainly the builders that benefit, as evidenced in their share prices since first introduction. In terms of prices overall, H2B is firmly at the margins. On the demand side, it's mainly about credit availability and affordability. Labour have a much better plan than the Tories in this regard (both in terms of supply and demand), relaxing planning and returning annual build targets and restricting purchases to UK buyers. BTL should be made even less appealing too and council tax increased on 2+ homes. BTL shouldn't be a viable retirement plan or alternative to stock market investing.

[ladymuck]

Yep as above 20% house price inflation, spending £1/4 million on a one bed flat. Luckily the government pays housing benefit!

#BuildMoreHouses

More houses = cheaper prices.

Foreign owners= multiple council tax bills.

Although not much of a deterrent if you're loaded. Even the potential four times premium for empty property doesn't seem to do much.

[vetran]

I was under the impression that the Help to Buy scheme wasn't all that great? I was never eligible for it so don't know if it's true.

Further housing inflation isn't what's needed. Whilst it will be painful for many, a wholesale price reset is what's needed but the BoE and HMT seem hell bent on propping up the housing market at all costs.

However, I am concerned that should prices fall, it'll just be overseas buyers snapping up the property unless something is legislated to restrict overseas property ownership

Yep as above 20% house price inflation, spending £1/4 million on a one bed flat. Luckily the government pays housing benefit!

#BuildMoreHouses

More houses = cheaper prices.

Foreign owners= multiple council tax bills.

[SueEllen]

I was under the impression that the Help to Buy scheme wasn't all that great? I was never eligible for it so don't know if it's true.

Yep it artificially pushed up the prices for new build properties as you could only buy a new build on the scheme.

Further housing inflation isn't what's needed. Whilst it will be painful for many, a wholesale price reset is what's needed but the BoE and HMT seem hell bent on propping up the housing market at all costs.

However, I am concerned that should prices fall, it'll just be overseas buyers snapping up the property unless something is legislated to restrict overseas property ownership

Agreed.

[ladymuck]

I was under the impression that the Help to Buy scheme wasn't all that great? I was never eligible for it so don't know if it's true.

Further housing inflation isn't what's needed. Whilst it will be painful for many, a wholesale price reset is what's needed but the BoE and HMT seem hell bent on propping up the housing market at all costs.

However, I am concerned that should prices fall, it'll just be overseas buyers snapping up the property unless something is legislated to restrict overseas property ownership

[vetran]

oh excellent 20% inflation!

#Build more houses

[jamesbrown]

Dying last breath of the dying Tory party. Feck 'em (and I am not a traditional Labour voter ).

[Protagoras]

https://www.dailymail.co.uk/news/art...ownership.html

Obvious desperation ...