To think it's not a housing problem, it's a landlord problem?

[Sylvvie]

Boris has promised to build more housing so young people can get on the property ladder. Fine, brilliant.

But as with all new builds, 75% will get hoovered up by second home owners and Landlords to be rented out. This doesn't fix the problem because young people then either compete for that 15% left which is always ridiculously expensive or end up renting those properties. (Not accurate figures obviously, just an example, but certainly feels that way!).

There are an insubordinate amount of second homes and Landlord houses standing empty at the moment. Young people are stuck renting because the rental prices are so high that they can't save the capitol for even a help-to-buy property unless they get really bloody lucky or inherit. Not to mention wages at the moment are abysmal and cost of living is rising due to Brexit and Covid issues.

AIBU? Am I genuinely missing something here? I don't think more homes that young people can't afford or that get snapped up by landlords is the answer but I would love to be told I am wrong (currently saving for our deposit).

The changes to taxation on buy to let have had a huge impact, but the drop in supply of rental properties that has resulted has then pushed rents up for those properties that remain. A large number of rental properties are needed for society to function which have to be provided by either individuals, the state, or private enterprise. At present the financial situation seems to favour private enterprise
It’s also come at a time with the stamp duty relief. Combine that and lots came on the market. They were all snapped up quickly and house prices are booming again.

To be honest they brought that in too late, they needed to take the heat out of buy to let years ago.

You’ve now got buy to let and air B and B competing with people just trying to have a stable roof over their heads

@gogohm

75% of new builds are not bought by second home owners or landlords - perhaps in specific areas but not nationally. In fact there is a property surplus in some places! We have a jobs distribution problem rather than housing stock, companies should be incentivised to move to areas with empty housing or brownfield sites suitable for housing development.

That makes no sense.

People need more than houses. They need decent transport connections, schools, doctors and other amenities. Building houses isn’t enough and there’s a reason that they say “location, location, location”

New builds...It should be 90% social housing and the remaining for open sale. We need a mass social build to get people housing. Homes should be a right not a luxury. Won't happen, and housing will continue to be used to divide the populace.

Is why so many women get murdered. Nowhere safe to go to live in. Was in refuge but had to go back cos no safe places after. The murders and domestic violence most of it. Not to do with police. No way will I ever tell police truth cos of the housing thing. Is better being hit or even killed is better than homeless.

Homeless application to councils for domestic violence and they tell you to rent private but no landlord takes benefits. Is why women get murdered and injured.

Build more social housing and remove Right To Buy.

When Tony Blair first came in there was a very good scheme available called DIYSO ( I know as we bought a flat under it when I was pregnant) - it stood for Do it yourself shared ownership - basically you bought 50% yourself (on mortgage with a 5% payment on the 50%) and the remainder owned by the housing association— the big difference with today’s shared ownership and help to buy etc was that you picked yourself on the open market. There were certain conditions and some price level limits- but it did mean that nice 2 bed flats even in London in ok areas were doable with a reasonable family income (we bought in crouch end) and very doable elsewhere- as were houses. It was phased out I suspect because the housebuilders didn’t like it!!!!

The trouble with any shared ownership scheme is that prices have outstripped wages to such an extent, that people are mortgaged to the hilt and still have to find the remaining rent, with no realistic prospect of ever buying the other portion of the property.

Added to this, many leasehold, new build flats are covered with cladding, like Grenfell Tower.

Anyone who owns one of these death traps has to find more money to pay the management companies' fees to replace the cladding, can't sell what is effectively an unmortgageable property and keep up with the rent and mortgage.

I really feel for those poor people.

New builds are expensive to buy and the few on our new build development that are privately rented out cost more than a mortgage on them ( I doubt any have been bought mortgage free as from £350,000) . So it's about people saving for deposits and not fast living. It's really tough to deprive yourself for years to save.

supply and demand will keep house price costs high and on the increase
This Govt could not afford a massive 20% + adjustment downwards

A lot of people quite happy to pull the housing ladder up behind them at the same time

Also Nimbys all agreeing that there is a need for more housing but just not here

My DH and I have been saving a house deposit and were looking to buy this year. Unfortunately the houses that we could afford and were suitable for our family before the pandemic have gone up around £150k and don’t look to be coming down that much at all. Added into the scenario we’ve become a a one income family due to my disability. We also live in a tourist and big second home county.

We have been in our current rented house for four years and we are hoping and praying that the LL doesn’t put the rent up. Looking at the rental market around us at the moment there are 10 houses for rent in our town on Rightmove. The 1 bed flats are currently going for around £50 under what we’re paying. The 2 bed houses are currently around £150-200 over what we are paying and the 3 bed ( which we need) are currently £400-600 what we pay now on average and we just couldn’t afford the rent.