The state of Cardiff's housing market as prices grow twice as fast as wages

[goats]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

That’s news to me

I know plenty and I’m one also……good and bad everyhere

[delmbox]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Try that these days. Even a cheap house in Cardiff is at least £200,000. So you need a £20,000 deposit, then you need to be on £60,000 a year, to qualify for that three times your salary thing. Not very likely at a young age.

I don't disagree with anything about how difficult it is for young people to get on the property ladder these days, they've been screwed over in a variety of ways, but saying even a cheap house in Cardiff is at least £200,000 is complete bollocks. Don't cheapen your argument by making stuff up

[SLUDGE FACTORY]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

I don't understand why , if possible and unless they breed , people don't buy a house and stay there

The never ending search for better things affects everything , not just housing and its going to **** us all up

[The Bloop]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

I don't understand why , if possible and unless they breed , people don't buy a house and stay there

The never ending search for better things affects everything , not just housing and its going to **** us all up

Reproduce? That's what people do isnt it?
So many new houses are so small that as soon as a little one appears theyve outgrown the property and it's time to move on. If they're fortunate enough to have room to expand their current house, its probably the best option.
Everyone is going to earning high wages and have highly skilled jobs soon, so itll all be ok in the end anyway (hope you can hear the hint of sarcasm)

[ToTaL ITK]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

It's exactly the same in Sweden. It went from easy to find a dwelling to now being a huge pain in the ass and very expensive

[splott parker]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

The Right To Buy eh! What a f*cking disaster.

[Doucas]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Young folk I know seem a lot more fussy these days. I bought a dilapidated house when I was about 25, most rooms were not used or in a bit of a state, reckon it took me about 5 years to eventually get each room done. My neighbours daughter just bought a house, been saving for a few years, couldn’t quite afford cardiff they said so bought in Caerphilly. All the furniture though came from John Lewis, then the garage needed converting in to a gym straight away, now the kitchen isn’t right and they want an extension. Not been there 6 months yet….I hear this sort of stuff about getting everything perfect almost immediately, what’s this all about? Why?

Has nobody your age bought a house and done it up and put new furniture in it?

[WJ99mobile]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

The Right To Buy eh! What a f*cking disaster.

Could have been good if the rules were stuck to

Ie build new for every sold

[splott parker]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Could have been good if the rules were stuck to

Ie build new for every sold

Nah, was a shit concept, circulation of mass affordable rented properties was working well. All it’s done is create ghettoes of the parts that no bugger wanted to buy and a lot of the other parts of estates under private landlords. So the big plan for folk to own their own house has resulted in a lot of those houses now being rented with nowt going to the local authority in the way of rent.
The selling off of council stock was Thatcher’s way of capturing the working class, kidnap them with a mortgage around their necks, terrified to strike or complain about working conditions, that monthly bill had to be met. There was a safety net as a tenant, I’ll never be convinced about the right to buy.

[Feedback]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

I've been dealing with the local council this past two months regarding alterations to my house and to be fair to them they have been O.K, they didn't go the extra mile and make it clear what I need to do preferring to refer me to literature, fortunately I bumped into someone who works in the planning dept. who gave me an avenue to pursue which got me a quick decision and saved me a nice wedge.

So if it wasn't for the planning process you could have shaved two months off the overall time of the alterations

[Feedback]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Maybe the world has changed since I stopped working in public housing 7 years ago - but at that time developers were definitely land banking, and (along with their supporters in the Tory Party) blaming planning regs. No doubt planning systems and regs can be improved, but my experience was they were put up as an excuse for developers wanting greenfield sites not brownfield, and resisting requirements to include section 106 affordable housing in some developments. It was mostly a smokescreen to maximise profits.

Councils do not build council housing because they are unable to fund them (despite the self-financing Housing Revenue Acount reforms of a decade ago) and because they will still be subject to Right To Buy - meaning the public (councils and remaining tenants) will continue to subsidise a section of new owner occupiers. Mass social house building is needed now.

The other recent factor affecting housing costs and supply - and a reason for owner occupation in the UK dropping from over 70% in 2003 to under 65% now - is the 'buy to rent' phenomena. Vast numbers of homes - new build and ex RTB council in particular - have been hoovered up by the new breed of landlord who then push up rents and collect from the affluent who can afford them, or those on housing benefits (so the state, or taxpayers, have to afford them) for those that can't. People in the middle get squeezed.

This is what happens when housing is seen as an investment asset, for personal or company benefit, not as a home. That mindset is much more prevalent in the UK than most other parts of Europe as Sludge said - even Romania with its' 97% owner occupation rate!

Developers don't land bank. It would tie up too much cash to do so. Developers want to develop but also have to develop with the intention of turning a profit.

[Tuerto]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

There are 14,500 council houses left in Cardiff. CCC are the 2nd most active council in the uk at buying back ex council houses. Selling them off was a disaster, massively boosted the private rental marketin which some landlords did exactly what they wanted.

[jon1959]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Developers don't land bank. It would tie up too much cash to do so. Developers want to develop but also have to develop with the intention of turning a profit.

And if they could turn a bigger profit by sitting on the sites, that is what they did.

If you are so insistent that land banking never happened tell me what Henry Boot, Keepmoat and Kier were doing with their development sites in South Yorkshire in the period I described. I was working with them, talking to them, talking to the planning and development officers in the council, reading the reports and even visited a few sites.

No doubt you know better - so just give me the headlines on the real story.

[jon1959]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Interesting scheme:

https://www.bbc.co.uk/news/uk-england-birmingham-58933011

A way into affordable rented homes with an incentive to stay for a long time!

[SLUDGE FACTORY]

Re: The state of Cardiff's housing market as prices grow twice as fast as wages

Could have been good if the rules were stuck to

Ie build new for every sold

Thatcher refused to let councils replace houses sold until they had used the money raised to pay off debts

She basically robbed them then kicked them in the bollocks as she went