Newbury / Thatcham House Prices Options

[Simon Kirby]

I am all for free markets, as long as fraud isn't part of it.

But with housing benefit, help-to-buy, right-to-buy, public sector key employees being given housing priority, being able to put buy-to-lets in pension plans, stamp duty, restrictive planning legislation, NIMBYs, an inherited monopoly on UK land inherited by a tiny minority with properties in trust, MPs getting free houses, and taxpayers propping up banks who would otherwise foreclose on properties occupied by people who cannot afford them, there is no free market in the UK.

There is government interference and vested interests through and through.

That is why we have about the pokiest, shoddiest, most expensive homes in the western world, and are encouraged to enslave ourselves to bankers to aquire them.

Well put.

[Strafin]

I don't myself, but what is the problem with owning more than one house? If you mean houses which are rented out, often as flats, then without this there would be an awful lot more homeless people.

What I mean by no individual should have more than house, is that anyone looking to boost their earnings, or pension, or gain an income through a holiday home should have to register thelselves as a business. They can still do it, there will still be housing around for people to live in but it would be better regulated, fairer and wouldn't artificially increase the market.

[JeffG]

Does anyone know what the penalty for being an accessory to fraud is?

[Oneilly]

Does anyone know what the penalty for being an accessory to fraud is?

crucifixion?

[Andy Capp]

Line on the left, one cross each!

[Newbury Litter W...]

I am all for free markets, as long as fraud isn't part of it.

But with housing benefit, help-to-buy, right-to-buy, public sector key employees being given housing priority, being able to put buy-to-lets in pension plans, stamp duty, restrictive planning legislation, NIMBYs, an inherited monopoly on UK land inherited by a tiny minority with properties in trust, MPs getting free houses, and taxpayers propping up banks who would otherwise foreclose on properties occupied by people who cannot afford them, there is no free market in the UK.

There is government interference and vested interests through and through.

That is why we have about the pokiest, shoddiest, most expensive homes in the western world, and are encouraged to enslave ourselves to bankers to aquire them.

Excellent points. One of the main drivers of the bubble has to be the chronically low level of new builds. At the end of the day while there's a shortage of supply combined with the factors you mention there's bound to be price inflation.

The facts that help-to-buy applies up to £600K (I believe) and that there is no way they can prevent existing owners to use it to buy flip and rent property (eg renting their existing homes) is particularly pernicious. The media rejoice whenever house price inflation rises and the politicians knows it creates a feel good factor (amongst the already well off) so don't expect this to end any time soon. Labour aren't much better than the condems so far as I can tell.

[motormad]

crucifixion?

Death by monkeys?

[DJE]

From the Telegraph

HM Revenue & Customs has launched a campaign to encourage buy-to-let landlords to own up to unpaid tax on rental income.

An investigation by HMRC and the Treasury has estimated that landlords are underpaying by £500m each year.

The tax office today launched an 18-month amnesty under the Let Property Campaign. Penalties on unpaid tax, it said, would be reduced for those who come forward.

Danny Alexander, Chief Secretary to the Treasury, announced the crackdown earlier this week at the Liberal Democrat conference in Glasgow.

Mr Alexander said up to 1.5 million landlords might have underpaid or failed to pay what was owed.

The scale of the fraud. Honest people pay threefold because the landlords typically reinvest in more buy-to-let properties, pushing the prices up, and use the rising prices as an argument to put rents up, as well as the lost tax revenues to the Treasury.

Shop Your Landlord Today! Tax-evading BTL landords are a blight on society.

[Simon Kirby]

Line on the left, one cross each!

Nah, only joking.