The London Society’s attempt to break the green belt taboo should be welcomed by the millions of Londoners who struggle with high house prices, high rents and tiny homes.Read more
"There is a real risk that today's stamp duty changes will just end up inflating house prices.
"A house sold at the current average price of £273,000 will now be liable for £4,540 less stamp duty, but since sellers want to maximise the sale price of their property, they will expect buyers to pay this money for the house instead. The result would be the price of this house increasing by 1.7%, while leaving struggling first-time buyers no better off.
"You have to wonder whether George Osborne is trying to stoke up house prices in advance of next year's general election.
"There are real problems with stamp duty suppressing the level of activity in the housing market, which in turn is likely to reduce the level of housebuilding we desperately need to see increase. However, any reforms to stamp duty should be done as part of wider reforms to property taxation, including a comprehensive revaluation and rebanding of council tax."
Until I began to read deeper into the turmoil that has characterised housing markets in liberal economies over the last decade and a half, the term ‘sub-prime’ was associated with a particular time and place.Read more
House prices continue to rise, incomes stagnate, and the supply of new affordable homes has fallen by 26% since 2011. We confront these grim figures everyday. What is most disturbing is how these statistics feed into the idea that spiralling house prices, an increased number of tenants trapped in the ramshackle private rented sector and poor quality homes are inevitable. Homes are understood in financial terms, making possible solutions inaccessible.Read more
- Over 500,000 renters can no longer afford homeownership since Help To Buy launch
- 13 times more people have been priced out than have been ‘helped’
- Only 2% of Help To Buy mortgage guarantee scheme has been utilised
As the Bank of England’s Financial Policy Committee is today expected to release the findings of its review into the government’s ‘Help To Buy’ house purchase schemes, PricedOut is today releasing its latest analysis on the impact of the schemes on first-time buyers.Read more