Housing becomes a complex challenge

what is happening to house prices

The housing crisis in Britain is a massively complex challenge for the government who quite honestly appear to be finding it difficult to cope with, none of the proposals put forward so far offer any hope of improvement in the near future.

Government plans to extend  the right-to-buy to housing association tenants is hitting an avalanche of resistance from various groups who expect such proposal to make matters worse rather than improve them, they could be right.

Governments over the last 30 years have promised to increase home ownership rates, not the case, they have been falling for a decade, housing policies just do not acheive their desired outcomes, private renting has now  increased to almost one in five households.

Almost 40% per cent of council homes sold via “right to buy” are now being let by private landlords, that is according to Inside Housing magazine’s research published last week. A total of 127,762 homes were sold to tenants at huge discounts, 38% of that total show  the owners registered at other adresses, suggesting they are landlords.

This is all far from creating a home owning society, these are the  consequences of badly thought out government policy at the time, it is infact creating an unfair society as far as housing is concerned, individuals are making vast profits from their right-to-buy investments, is that what was intended?  A council flat bought under the scheme in London’s Covent Garden has recently sold for £1.2 million; the sellers had paid Westminster council £130,000 in 1990. Is nothing being learnt from the policy  mistakes of the past?

Eileen Short of Defend Council Housing reportedly said: “This is what happens if you try to turn all our housing into a marketplace. The richest people buy up the most and make a killing, these landlords are charging  rents so high that many need housing benefit to pay for them in another back-door subsidy to these landlords.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More
Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More