Do you want to discuss boring politics? (40 Viewers)

[MalcSB]

Nor do you seem to know how it works

I know it did British Leyland the world of good.

 

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[MalcSB]

I would imagine that the leaders of wealth creation industries simply cannot wait to drive the UK economy forward with the backing of a new Labour government.

 

[SBAndy]

The post covid stamp duty relief ahead a similar inflationary impact, in that there was a scramble to purchase before it ended. The relief did not, per se, cause the increase in house prices, it was the temporary nature of the relief.

Now you’re just making stuff up. There was absolutely an acceleration of house prices at the outset of the stamp duty holiday. You’ve reduced the cost to move whilst supply remains the same, of course it’ll see an increase in the price point. It’s basic economics.

My “highly unlikely” response was to a suggestion that first time buyers relief might encourage FTBs to hold off and but a more expensive house. You have, again, responded to what you want to rather than what was said.

It is quite clear that the ending of a property related relief will have an inflationary effect on house prices. It happened on the late 80’s dual mortgage interest relief was stopped for new purchases. Prices boomed but then plummeted shortly thereafter.

The post covid stamp duty relief ahead a similar inflationary impact, in that there was a scramble to purchase before it ended. The relief did not, per se, cause the increase in house prices, it was the temporary nature of the relief.

Stamp duty is an awful tax as the article says. Abolishing it would not necessarily increase prices. It would certainly encourage older people, say like me, who live in a house that is arguably too big for them but don’t want to throw away £25k total moving costs. Council tax is also an awful tax and the comparisons with Westminster are bonkers.

Firstly, £25k moving costs? “Highly unlikely”.

Secondly, I wonder if there would be some merit in effectively mapping SDLT to council tax bands i.e. if you’re moving from a band C to a band E, you pay X% whereas a band D to a band E is a reduced Y%. This could then be reversed if you come down the bands as a rebate. Not costed it in any fashion, literally something I’ve just thought of but could see further encouragement to downsize. Obviously the council tax bands would need to be re-assessed but think that’s being spoken about anyway at the moment.

 

[MalcSB]

Now you’re just making stuff up. There was absolutely an acceleration of house prices at the outset of the stamp duty holiday. You’ve reduced the cost to move whilst supply remains the same, of course it’ll see an increase in the price point. It’s basic economics.




Firstly, £25k moving costs? “Highly unlikely”.

Secondly, I wonder if there would be some merit in effectively mapping SDLT to council tax bands i.e. if you’re moving from a band C to a band E, you pay X% whereas a band D to a band E is a reduced Y%. This could then be reversed if you come down the bands as a rebate. Not costed it in any fashion, literally something I’ve just thought of but could see further encouragement to downsize. Obviously the council tax bands would need to be re-assessed but think that’s being spoken about anyway at the moment.

Fuck off am I making stuff up.The post covid relief was temporary and people had to get their arse in gear to reap the benefit, so of course there was a scramble from the outset. I missed out on saving £13,500 due to a combination of the sellers and crap conveyancers. Had it been a permanent reduction, the price increase would not have been so significant.

Have you moved house recently? £25k moving costs is not unreasonable. Estate agents fees, solicitors fees, stamp duty, removal firm fees.That's what it cost me for my last move. Throw in costs of decorations new carpets and curtains if required, it all adds up for us poor pensioners you know.

An interesting idea re stamp duty. Or just stop it. Years ago it was not such an imposition. I am amazed at how far younger people are prepared to commute for what might not be terribly well paid jobs - I do wonder whether the cost of moving (could be £25k or more you know) acts as a disincentive. All that CO2 pouring in to the atmosphere as well.

When I was younger I rarely lived more than 5 miles from where I worked, Latterly could have been up to 40.

 

[wingy]

See Shmeee, we can agree on some stuff

Can you see Society lurching to the right though when there is no counterbalance.

Nigel should write a song about it!

 

[wingy]

My “highly unlikely” response was to a suggestion that first time buyers relief might encourage FTBs to hold off and but a more expensive house. You have, again, responded to what you want to rather than what was said.

It is quite clear that the ending of a property related relief will have an inflationary effect on house prices. It happened on the late 80’s dual mortgage interest relief was stopped for new purchases. Prices boomed but then plummeted shortly thereafter.

The post covid stamp duty relief ahead a similar inflationary impact, in that there was a scramble to purchase before it ended. The relief did not, per se, cause the increase in house prices, it was the temporary nature of the relief.

Stamp duty is an awful tax as the article says. Abolishing it would not necessarily increase prices. It would certainly encourage older people, say like me, who live in a house that is arguably too big for them but don’t want to throw away £25k total moving costs. Council tax is also an awful tax and the comparisons with Westminster are bonkers.

Were you in estate agency by any chance?

 

[MalcSB]

Were you in estate agency by any chance?

Nope, but a keen follower of the housing market from time to time. Moved 17 times in 45 years.

 

[wingy]

My “highly unlikely” response was to a suggestion that first time buyers relief might encourage FTBs to hold off and but a more expensive house. You have, again, responded to what you want to rather than what was said.

It is quite clear that the ending of a property related relief will have an inflationary effect on house prices. It happened on the late 80’s dual mortgage interest relief was stopped for new purchases. Prices boomed but then plummeted shortly thereafter.

The post covid stamp duty relief ahead a similar inflationary impact, in that there was a scramble to purchase before it ended. The relief did not, per se, cause the increase in house prices, it was the temporary nature of the relief.

Stamp duty is an awful tax as the article says. Abolishing it would not necessarily increase prices. It would certainly encourage older people, say like me, who live in a house that is arguably too big for them but don’t want to throw away £25k total moving costs. Council tax is also an awful tax and the comparisons with Westminster are bonkers.

But if downsizing leaves you on a winner ultimately,expenses you incurred all your life?

 

[nicksar]

Bloke opposite me has an "estate agent" type vote Reform sign up at the end of his drive, someone has defaced it with "Be Kind"... he's the bain of my life tbh, he keeps Geese and they wake me up every morning when he lets them out!!!.
Further up the road a house that's recently changed hands for £850k has a similar sign up for vote Labour....can never judge a book by its cover.

 

[wingy]

Bloke opposite me has an "estate agent" type vote Reform sign up at the end of his drive, someone has defaced it with "Be Kind"... he's the bain of my life tbh, he keeps Geese and they wake me up every morning when he lets them out!!!.
Further up the road a house that's recently changed hands for £850k has a similar sign up for vote Labour....can never judge a book by its cover.

Give him a knock,see if he has any spare eggs, I hear they're not bad!

 

[MalcSB]

But if downsizing leaves you on a winner ultimately,expenses you incurred all your life?

I have no intention of downsizing whilst the costs are so high. I have already paid a fortune to that end, someone else can keep estate agents and conveyancers in luxury.

 

[Ashdown]

I'd also suggest that an increase in the threshold is to cushion house builders who look for profit per square metre rather than what's needed. Maybe if instead of estates of three, four, five bed detached houses we started building some two bed terrace, and three bed semis we might actually end up with a decent supply for first time buyers, and therefore fairer prices that didn't need any threshold manipulation.

Problem is, they dont build them in 2024 to any great standard at all. So you can imagine that adjoining walls would be paper thin, fixtures and fittings minimum standard, outside space negligible and local facilities non existent . They might provide a roof over someones head but quality of life….nah !

 

[MalcSB]

Problem is, they dont build them in 2024 to any great standard at all. So you can imagine that adjoining walls would be paper thin, fixtures and fittings minimum standard, outside space negligible and local facilities non existent . They might provide a roof over someones head but quality of life….nah !

Shmmeee wants 5 storey apartment blocks. Great for letting your kids play out.

 

[wingy]

Build your own I say there are numerous companies that from a shelf at IKEA or bespoke, they do it every week in the exhibition trade ,then knock them down again,all over the world!!

 

[Ashdown]

Shmmeee wants 5 storey apartment blocks. Great for letting your kids play out.

He wants 5 storey apartment blocks on top of 5 storey apartment blocks by the sound of it.
The only time this sort of thing can work is if they have lots of vibrant squares with lots of cafes, bars and small businesses underneath with plentiful parks and gardens nearby…..sort of like in Spain

 

[Marty]

Problem is, they dont build them in 2024 to any great standard at all. So you can imagine that adjoining walls would be paper thin, fixtures and fittings minimum standard, outside space negligible and local facilities non existent . They might provide a roof over someones head but quality of life….nah !

Anyone who works on a big site is useless, literally only there as the developers don't care and are they're cheap as their work is shit, anyone decent will be either on their own or working for local firms. Kept us in loads of work fixing all the problems.

 

[MalcSB]

He wants 5 storey apartment blocks on top of 5 storey apartment blocks by the sound of it.
The only time this sort of thing can work is if they have lots of vibrant squares with lots of cafes, bars and small businesses underneath with plentiful parks and gardens nearby…..sort of like in Spain

If only it was warmer here.

 

[PVA]

My heart bleeds for the poor pensioners whose first house was about a years wages

 

[shmmeee]

He wants 5 storey apartment blocks on top of 5 storey apartment blocks by the sound of it.
The only time this sort of thing can work is if they have lots of vibrant squares with lots of cafes, bars and small businesses underneath with plentiful parks and gardens nearby…..sort of like in Spain

We’ll see with Ciry centre south, but yeah. We’re talking about city centre living mostly.

 

[shmmeee]

Relevant to a few comments in this thread

 

[MalcSB]

My heart bleeds for the poor pensioners whose first house was about a years wages

My first house was 3 years wages. Unfortunately I saw no profit from it. Or anything I bought until 2016.

 

[MalcSB]

Relevant to a few comments in this thread

I would imagine the response also applies to Labour’s manifesto,

 

[MalcSB]

My heart bleeds for the poor pensioners whose first house was about a years wages

If you are really lucky, you will be a pensioner too one day.

 

[PVA]

If you are really lucky, you will be a pensioner too one day.

I hope so too.

But I think you know the point I was making.

 

[Deleted member 5849]

If you are really lucky, you will be a pensioner too one day.

Yeah I hope to live to 75+ to get there

 

[Deleted member 9744]

Yeah I hope to live to 75+ to get there

I think by the time most of us get there the state pension won't exist.

 

[Brighton Sky Blue]

I do.

If only they hadn’t had 15+% interest rates, they would have really been laughing.

My grandparents bought their house in Coventry in the early 60s for a few grand. It ended up getting sold in the last few years for over half a million. Were they still around yes I think they’d be laughing!

 

[MalcSB]

I think by the time most of us get there the state pension won't exist.

There will have to be something for all those not to have made any provision, paid for by those who have.

 

[MalcSB]

My grandparents bought their house in Coventry in the early 60s for a few grand. It ended up getting sold in the last few years for over half a million. Were they still around yes I think they’d be laughing!

Were they around when it was sold? If not, they haven’t seen a penny of that increase and it is their heirs that have benefitted.

 

[Brighton Sky Blue]

Were they around when it was sold? If not, they haven’t seen a penny of that increase and it is their heirs that have benefitted.

lrrelevant.

 

[MalcSB]

lrrelevant.

No it isn’t.

 

[Brighton Sky Blue]

No it isn’t.

It is. The asset could have been cashed in at any point and indeed several of their neighbours sold up when alive to make essentially £500k of profit.

 

[Grendel]

lrrelevant.

It really isn’t

 

[Grendel]

It is. The asset could have been cashed in at any point and indeed several of their neighbours sold up when alive to make essentially £500k of profit.

Then what they lived out their dotage in a tent?

 

[MalcSB]

It is. The asset could have been cashed in at any point and indeed several of their neighbours sold up when alive to make essentially £500k of profit.

Beer was 10p a pint when I was a lad, not £6 plus. Should people today feel disadvantaged? It’s the way things have panned out.