+ Visit Cardiff FC for Latest News, Transfer Gossip, Fixtures and Match Results
Results 1 to 33 of 33

Thread: new zealand to ban foreign home buyers

  1. #1

    new zealand to ban foreign home buyers

    noticed not just in the uk house prices are so out of reach of normal people I notice new Zealand now plan to ban foreign home buyers for the same reason . I read somewhere last week that Russian and chineese millionaires have bought up lost of stock in London and the south east of England over the last few years but now a lot of these properties are lying idle with no one in them .

    do you think the uk should ban foreign home owners too to help the housing crisis on a day when it's been announced that our population is likely to hit 70 million in 10 years time ?

    http://www.bbc.co.uk/news/business-41745129

  2. #2

    Re: new zealand to ban foreign home buyers

    If they have no intention of living in them and just banking them for profit then yes. Housing as a commodity isn't helpful when faced with a housing crisis. We don't build the right type of houses when we do occasionally get around to building them either.

  3. #3

    Re: new zealand to ban foreign home buyers

    Good idea, and introduce penalties for unoccupied properties too.

    The rich are investing if material assets in preparation for the big crash. Very nice if you had access to cheap money.

  4. #4

    Re: new zealand to ban foreign home buyers

    Democracy and freedom gone mad

  5. #5

    Re: new zealand to ban foreign home buyers

    It's not really mad to try and stop outside interests from screwing up your housing market is it?

  6. #6

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by MOZZER2 View Post
    noticed not just in the uk house prices are so out of reach of normal people I notice new Zealand now plan to ban foreign home buyers for the same reason . I read somewhere last week that Russian and chineese millionaires have bought up lost of stock in London and the south east of England over the last few years but now a lot of these properties are lying idle with no one in them .

    do you think the uk should ban foreign home owners too to help the housing crisis on a day when it's been announced that our population is likely to hit 70 million in 10 years time ?

    http://www.bbc.co.uk/news/business-41745129
    Maybe not ban them from buying BUT make it not worth their while buying them by introducing a tax that means they wont get the return they wanted.

    UK property (as well as other countries) seem to be a market targeted for investment - this directly affects our kids as first time buyers. Not usually a fan of state intervention as it usually ends up going wrong - but in this instance it needs to be done.

    What would be the consequences of doing this ?

  7. #7

    Re: new zealand to ban foreign home buyers

    Making the rich pay an extra 50% council tax for un occupied houses isn't working. I believe this is what happens in London, other areas as well. Whats an extra grand to a millionaire.

  8. #8

    Re: new zealand to ban foreign home buyers

    With the pound dropping so much it will only increase foreign investment in London. I was talking to a guy last autumn who was in various parts of Eastern Asia selling property just because of the sterling situation. It made me feel pretty uncomfortable but someone will always be there to profit, no matter what happens.

  9. #9

    Re: new zealand to ban foreign home buyers

    We need a massive council house building programme in this country with no ****ing right to buy which is the cause of much of our housing problem in the first place !! Only a true socialist Labour party will do this

  10. #10

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by SLUDGE FACTORY View Post
    We need a massive council house building programme in this country with no ****ing right to buy which is the cause of much of our housing problem in the first place !! Only a true socialist Labour party will do this
    The problem is - if you have no right to buy, you are telling the occupants of the council house - they will be renters forever and never own their own home - is that a problem for you ?

    Also by offering cheap rents to a family in a council house (effectively for ever) the Landlord (the council) is responsible for the white goods as well as the upkeep of the property - would the council make enough money from the rent to cover this ? - if they arent where does that money come from ?

    Im all for affordable housing etc - but only if it effectively pays for itself.

  11. #11

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    The problem is - if you have no right to buy, you are telling the occupants of the council house - they will be renters forever and never own their own home - is that a problem for you ?

    Also by offering cheap rents to a family in a council house (effectively for ever) the Landlord (the council) is responsible for the white goods as well as the upkeep of the property - would the council make enough money from the rent to cover this ? - if they arent where does that money come from ?

    Im all for affordable housing etc - but only if it effectively pays for itself.
    Not responsible for the white goods as in Fridge, Oven, etc. That's what I understand by white goods.

    Compared to some things the government spends money on I would put housing pretty much up there. Not everyone aspires to own a home some want good quality rented ones.

    Perhaps any shortfall in money for upkeep could come from the savings on ludicrously high housing benefit charged by private landlords faced with more competition and maybe adjusting the rents accordingly.

  12. #12

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by joecity View Post
    Not responsible for the white goods as in Fridge, Oven, etc. That's what I understand by white goods.

    Compared to some things the government spends money on I would put housing pretty much up there. Not everyone aspires to own a home some want good quality rented ones.

    Perhaps any shortfall in money for upkeep could come from the savings on ludicrously high housing benefit charged by private landlords faced with more competition and maybe adjusting the rents accordingly.
    I have a friend over in St Melons - she is in a housing association house - all white goods are provided by the housing association. They have also just had wooden block floors fitted.

    If people are ok to live in council owned rented accommodation , then that's fine by me as well - I dont care. But the problem comes when for example you have a 3 bed house for a family, the family live there for 18 odd years - the kids move out. The council then want that house for another family - but the parents wont move out - what happens then - are you ok for that house to be under occupied ? while another family is waiting ?

    After 20 odd years of paying rent - that same family could have been paying off a mortgage and would have an asset to show for it but instead they have nothing.

    But as long as families and people living in this situation are happy to move along when there needs have changed - that's great - but in practice it doesnt happen.

    Any idea what they do in Europe - where the rental sector is supposed to be a lot higher than here ?

  13. #13

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    The problem is - if you have no right to buy, you are telling the occupants of the council house - they will be renters forever and never own their own home - is that a problem for you ?

    Yes , council houses are for those in need , if their situation is changed they buy a house and hand it back to the council for the next family in need of housing to benefit not ****ing buy it as soon as they can

    Also by offering cheap rents to a family in a council house (effectively for ever) the Landlord (the council) is responsible for the white goods as well as the upkeep of the property - would the council make enough money from the rent to cover this ? - if they arent where does that money come from ?

    Im all for affordable housing etc - but only if it effectively pays for itself.
    See above

  14. #14

    Re: new zealand to ban foreign home buyers

    So council provided accommodation, with rents that cover all the costs (build and maintenance etc) , with no right to buy and the council being able to move families around as and when their situations change ? - ie families in houses until kids leave home - then move parents to a small house / flat and get another familiy to move in - is that what you meant by "see above"

    If it's all costed out and families are contractually obliged to transfer elsewhere as and when the council needs them to - then yep I agree with you.

  15. #15

    Re: new zealand to ban foreign home buyers

    20 odd years of paying rent in private rented housing means you have just bought some ones house for them in effect. That house is no more available to the next generation than a council house if at all and at massively inflated cost I would wager.

    I should imagine a fair to high amount of council/social tenants wouldn't be able to get a mortgage let alone a deposit. Not trying to stereotype mind.

    I don't care if a housing assosciation puts a block floor in a flat why not/ Fridges? cookers? even better if the people who live there need them. They are not allowed to run at a massive loss anyway are they so it must be do able. It is most definitely not the norm and certainly not in council houses.

  16. #16

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    So council provided accommodation, with rents that cover all the costs (build and maintenance etc) , with no right to buy and the council being able to move families around as and when their situations change ? - ie families in houses until kids leave home - then move parents to a small house / flat and get another familiy to move in - is that what you meant by "see above"

    If it's all costed out and families are contractually obliged to transfer elsewhere as and when the council needs them to - then yep I agree with you.
    Subject to circumstances , yes

    I studied housing policy after my first degree and worked in housing for several years

    For an up to date on what's really going on under this Tory government speak to jon1959 , he works in the housing sector and will tell you the damage the right to buy scheme caused

  17. #17

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by SLUDGE FACTORY View Post
    Subject to circumstances , yes

    I studied housing policy after my first degree and worked in housing for several years

    For an up to date on what's really going on under this Tory government speak to jon1959 , he works in the housing sector and will tell you the damage the right to buy scheme caused
    The right to buy was seen (generally) as a great way to families to have their own homes and homes in which they had paid rent on for donkeys years - which is why they were allowed to buy them at discount prices. I would have said that is a socialist type policy - given low wage working families an asset that was theirs.

    I guess what you are saying is that in reality that never happened and that humans reverted to type and went after the discounted option to buy - you cant blame people for wanting to get their own home surely ?

    If social housing can be built and COSTED Im fine with that as long as the tenants are contractually obliged to move out when requested rather than hold on to a 4 bed council house on the pretence that they have always lived there etc.

    My complete guess is that the scheme could not be costed - and that in affect the council would not get a return on the money they have invested, ie cost to build the home, cost of maintenance and upkeep as well basics that Landlords provide ie cooker, fridge, boiler etc.

    The only reason student accommodation is going up so fast is that , there was tax relief given on the money and planning was easily given for inner city developments.

  18. #18

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    If people are ok to live in council owned rented accommodation , then that's fine by me as well - I dont care. But the problem comes when for example you have a 3 bed house for a family, the family live there for 18 odd years - the kids move out. The council then want that house for another family - but the parents wont move out - what happens then - are you ok for that house to be under occupied ? while another family is waiting ?
    What's the difference between council properties and the private sector? If people meet their rental obligations why can't they stay in the same property? The incentive to downsize would be in paying cheaper rents.

    Quote Originally Posted by Mambo View Post
    After 20 odd years of paying rent - that same family could have been paying off a mortgage and would have an asset to show for it but instead they have nothing.
    If people want to buy a home they can move into the private sector.

  19. #19

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Wales-Bales View Post
    What's the difference between council properties and the private sector? If people meet their rental obligations why can't they stay in the same property? The incentive to downsize would be in paying cheaper rents.


    If people want to buy a home they can move into the private sector.
    The difference is 'need', you get house blocking. A family 3 kids get a 4 bed house. 18 years later, the kids have moved out - just mum and dad in the house. Meanwhile there is a new family of 4 waiting for a house - the council need to use the house to safely house the new family. Mum and Dad can move to a smaller council property.

    Yep - they can move into the private sector - but previously they couldnt as their wages cant afford it, so the council gave them a big discount on the house they were living in. In fairness I think the right to buy was about aspiration, giving families the chance to buy their own house.

    I see your point though - tough luck, it is a council property to be used by the council for housing people, not for selling on. I think the councils thought they would put the responsibility of upkeep onto private Landlords so the council wouldnt have to pay, they just pay the cost of the rental instead. Which in business terms is a much better deal for the council and tax payer.

    In Merthyr for example - you can do a deal with the council - you guarantee to rent them your flat for 5 years - they guarantee 5 years of rent - plus they do the maintenance work. If I had the money to buy a flat in Merthyr and rent it to the council - that's exactly what I'd be doing - hassle free income and solves a housing rental problem.

  20. #20

    Re: new zealand to ban foreign home buyers

    Duplicate post

  21. #21

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    The difference is 'need', you get house blocking. A family 3 kids get a 4 bed house. 18 years later, the kids have moved out - just mum and dad in the house. Meanwhile there is a new family of 4 waiting for a house - the council need to use the house to safely house the new family. Mum and Dad can move to a smaller council property.
    Build more council houses, and the smart people will downsize for the cheaper rents when their kids leave home. Problem solved! Only the idiots will be paying for the extra 3 rooms that they don't use

  22. #22

    Re: new zealand to ban foreign home buyers

    The right to buy was a mirage. If only a couple of people on a rough council estate bought their houses
    then when they wanted to sell them potential buyers said " no thanks - why would I want to live in that
    dump ?"

    Someone further up the thread can't tell the difference between council houses and housing associations.

  23. #23

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Wales-Bales View Post
    Build more council houses, and the smart people will downsize for the cheaper rents when their kids leave home. Problem solved! Only the idiots will be paying for the extra 3 rooms that they don't use
    Remember the bedroom tax to force people into this situation ?

    Some people like the extra space so they can have the family to stay.

    Luckily I own my own 5 bedroom house so can do what I like.

  24. #24

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by BlueWales View Post
    Remember the bedroom tax to force people into this situation ?

    Some people like the extra space so they can have the family to stay.

    Luckily I own my own 5 bedroom house so can do what I like.
    Maybe one spare room is fair, and then hike the rent for two?

  25. #25

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    The problem is - if you have no right to buy, you are telling the occupants of the council house - they will be renters forever and never own their own home - is that a problem for you ?

    Also by offering cheap rents to a family in a council house (effectively for ever) the Landlord (the council) is responsible for the white goods as well as the upkeep of the property - would the council make enough money from the rent to cover this ? - if they arent where does that money come from ?

    Im all for affordable housing etc - but only if it effectively pays for itself.
    I saw a program about housing in London and part of it focussed on developments where half are sold at the market rate and half sold at a multiplier of the local average wage (value of property is then tied to this calculation forever). Seemed like a positive initiative although I got the impression that the couple being shown around didn't really understand the concept.

  26. #26

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Eric Cartman View Post
    I saw a program about housing in London and part of it focussed on developments where half are sold at the market rate and half sold at a multiplier of the local average wage (value of property is then tied to this calculation forever). Seemed like a positive initiative although I got the impression that the couple being shown around didn't really understand the concept.
    Social housing is fine as long as it is seen as a temporary solution - until whoever is living there somehow betters themselves , gets a better job etc - otherwise it soon becomes a lifestyle. Cant be bothered to try and save up for a place, Council will look after my boiler, white goods, fix the roof etc - and when the kids have moved the tenants will refuse to move. I think that is 1 of the reasons we had the problem in the first place.

    As said - far easy and cheaper for the council to let private Landlords have all that hassle - and the council just pay the Landlord direct. If tenants become problem tenants - they dont have their tenancy renewed

  27. #27

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    Social housing is fine as long as it is seen as a temporary solution - until whoever is living there somehow betters themselves , gets a better job etc - otherwise it soon becomes a lifestyle. Cant be bothered to try and save up for a place, Council will look after my boiler, white goods, fix the roof etc - and when the kids have moved the tenants will refuse to move. I think that is 1 of the reasons we had the problem in the first place.

    As said - far easy and cheaper for the council to let private Landlords have all that hassle - and the council just pay the Landlord direct. If tenants become problem tenants - they dont have their tenancy renewed
    How you going to save up for a deposit when you work minimum or average wage? You amaze me sometimes Mambo mate. Banging on about Council looking after white goods, They don't mate. You are just misinformed there. Whoever you rent off has to look after the boiler it's why you pay them rent cause it's not your house same goes for the roof.

    Why Let private Landlords rule the market. They don't always do the repairs and are pursuing 'no fault eviction laws' so that if you would only dare to complain about the boiler 'so long tenancy' in some cases. They charge over market rents in many cases. You don't feel secure in the tenancy so maybe less likely to take a chance on improving your lot cause you worried that in 28 days from now you going to be black bagged.

    What is the matter with social housing really Mambo?

    Is it cause it might need some government money spent on it? It should. It's a necessary just like the nhs. Not all people who live in Council/social housing claim benefit and as pointed out by previous poster. If they want to pay more rent for rooms they don't use, good, bully for them. Bedroom tax will squeeze the pips out of the ones who refuse to downsize that claim benefits and eventually make them do so. If moving them on or it being temporary is purely about money then that's that covered. If it's about the fact they should want to save up for a place, get a better job then I'm sure most would. Some obviously cant and some wont. Whats the matter with just having a decent standard of living in social housing feeling a bit more secure in a tenancy.

  28. #28

    Re: new zealand to ban foreign home buyers

    Average UK house price is 226K (gulp), average UK annual wage is 27K. Historically a typical UK home cost three times a typical yearly wage, now it's almost times nine. Youngsters today have a lifetime of debt servitude ahead of them just to keep a roof over their head.

  29. #29

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    Social housing is fine as long as it is seen as a temporary solution - until whoever is living there somehow betters themselves , gets a better job etc - otherwise it soon becomes a lifestyle. Cant be bothered to try and save up for a place, Council will look after my boiler, white goods, fix the roof etc - and when the kids have moved the tenants will refuse to move. I think that is 1 of the reasons we had the problem in the first place.

    As said - far easy and cheaper for the council to let private Landlords have all that hassle - and the council just pay the Landlord direct. If tenants become problem tenants - they dont have their tenancy renewed
    You quoted me but ignored everything I said.

  30. #30

    Re: new zealand to ban foreign home buyers

    First ten minutes of this latest episode of the Keiser Report discusses the bubble in UK house prices, the scandal of the right-to-buy social housing scheme and who profits from help-to-buy. I think it's fair to say Max and Stacy agree with Sludge's views on these issues.


  31. #31

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Organ Morgan. View Post
    Average UK house price is 226K (gulp), average UK annual wage is 27K. Historically a typical UK home cost three times a typical yearly wage, now it's almost times nine. Youngsters today have a lifetime of debt servitude ahead of them just to keep a roof over their head.
    And that is before you take their student loan debt into account.

  32. #32

    Re: new zealand to ban foreign home buyers

    Fortunately for the government, the head down, nose three inches from the mobile young uns appear to be in the majority.

  33. #33

    Re: new zealand to ban foreign home buyers

    Quote Originally Posted by Mambo View Post
    The problem is - if you have no right to buy, you are telling the occupants of the council house - they will be renters forever and never own their own home - is that a problem for you ?
    Not at all. Renters are only ever likely to own their home if their financial situation improves to the state where they arguably don't have a need for social housing.

    Social housing stock should either be replaced 1-for-1 for every one sold or they shouldn't be sold at all as it removes the stock for people needing to add themselves to ever lengthening waiting lists for one.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •