Interest rates up 0.25% for the 11th Month in a row

[SLUDGE FACTORY]

Re: Interest rates up 0.25% for the 11th Month in a row

I know, I’m one of them. Loads of oldies who have had rentals for 30/40 years have had enough, rent smart wales and the new tenancy agreements being the final nail. Then there’s the EPC issue which is by far the biggest load of government guff to date, attempting to get Victorian housing stock to a C in 2 years isn’t feasible. At least a million rentals don’t yet comply so be interesting to see how it unfold further. In a house I rent out in Treforest nr the Uni, rents have gone from £300 to £350 a month since September…..a room in a house in heath came available last sept and I had 60 people apply in one day. Nice work Drakeford

The problem is a lack of housing stock

If the Tories hadn't sold off millions of council homes then less people would be sharking around desperate for a place to live

The private rented sector was pushed by the conservatives to take up the slack

For many people it's great , young workers , students etc but the rents are too high and it must be regulated so landlords can make profit but tenants can have a fair deal

I am not sure that's really possible , maybe it has been ?

[Vindec]

Re: Interest rates up 0.25% for the 11th Month in a row

. In a house I rent out in Treforest nr the Uni, rents have gone from £300 to £350 a month since September…..a room in a house in heath came available last sept and I had 60 people apply in one day. Nice work Drakeford

In fairness I don't think the current problems are a lot to do with Drakeford or the WG. The issue is a simple case of economics.

As a former landlord I have every sympathy for renters but landlords are also in a predicament due to higher interest rates. The point you raise about properties in Treforest and Heath is easily explained. If a landlord pays an amount for a house in Treforest he would have to pay much more for a house in Heath. Any higher rent in Heath is simply down to the higher amount a landlord has to borrow and thereby his costs in servicing his debt can only be recoverable through higher rent charges. I helped my last renter out by not increasing the rent and was rewarded with a smashed up property which was not recoverable as the tenant had moved back to his former home in South East Asia. That was it for me but I applaud those landlords who have stuck it out as the former profits are no longer achievable.

Life is very difficult at the moment for both house owners and renters. My son's mortgage for example is now close to his income having recently coming off a fixed 1% mortgage and the end of his government help to buy loan and I'm sure his experience is replicated elsewhere.

[goats]

Re: Interest rates up 0.25% for the 11th Month in a row

The problem is a lack of housing stock

If the Tories hadn't sold off millions of council homes then less people would be sharking around desperate for a place to live

The private rented sector was pushed by the conservatives to take up the slack

For many people it's great , young workers , students etc but the rents are too high and it must be regulated so landlords can make profit but tenants can have a fair deal

I am not sure that's really possible , maybe it has been ?

If they want rents to stop going up maybe they build more houses? They are in cardiff particularly to the west off llantrisant rd. if they keep adding more taxes like EPC, rent smart and the like rents are only going one way. You can’t set a limit on it really, maybe a general one ie Cathays/heath max whatever but that won’t be easy to implement. Also any more interfering will only increase the problem for tenants like they’ve just done

[goats]

Re: Interest rates up 0.25% for the 11th Month in a row

The problem is a lack of housing stock

If the Tories hadn't sold off millions of council homes then less people would be sharking around desperate for a place to live

The private rented sector was pushed by the conservatives to take up the slack

For many people it's great , young workers , students etc but the rents are too high and it must be regulated so landlords can make profit but tenants can have a fair deal

I am not sure that's really possible , maybe it has been ?

I thought Labour started that selling of the houses? Like they did everything else that was nailed down? Gold reserves etc….
Let’s face it, the people wanted to buy them up so they could own so was a vote winner, as ever though no long term planning. Until this changes politics in the uk is pointless just lurching from shiiitshow to another clearing up the previous mess bla bla……

[A Quiet Monkfish]

Re: Interest rates up 0.25% for the 11th Month in a row

I know, I’m one of them. Loads of oldies who have had rentals for 30/40 years have had enough, rent smart wales and the new tenancy agreements being the final nail. Then there’s the EPC issue which is by far the biggest load of government guff to date, attempting to get Victorian housing stock to a C in 2 years isn’t feasible. At least a million rentals don’t yet comply so be interesting to see how it unfold further. In a house I rent out in Treforest nr the Uni, rents have gone from £300 to £350 a month since September…..a room in a house in heath came available last sept and I had 60 people apply in one day. Nice work Drakeford

Tenants ? You mean 'contract holders' ! You're right though, on all counts. I'm in the same position as you.

[JamesWales]

Re: Interest rates up 0.25% for the 11th Month in a row

Housing is the biggest single issue in the country in my opinion, and no political party are honest about it.

[SLUDGE FACTORY]

Re: Interest rates up 0.25% for the 11th Month in a row

I thought Labour started that selling of the houses? Like they did everything else that was nailed down? Gold reserves etc….
Let’s face it, the people wanted to buy them up so they could own so was a vote winner, as ever though no long term planning. Until this changes politics in the uk is pointless just lurching from shiiitshow to another clearing up the previous mess bla bla……

Council tenants have always have a right to buy , in various guises

But in was Thatcher in 1983 that gave absolutely massive amounts of tax payers money to council tenants to almost give the fecking things away

It's was immoral and the effects on the housing market are still being felt today

Don't blame Labour

[jon1959]

Re: Interest rates up 0.25% for the 11th Month in a row

Council tenants have always have a right to buy , in various guises

But in was Thatcher in 1983 that gave absolutely massive amounts of tax payers money to council tenants to almost give the fecking things away

It's was immoral and the effects on the housing market are still being felt today

Don't blame Labour

Small scale sales under Labour in the 60s and 70s - without the huge price discounts introduced by Thatcher in the Housing Act 1980.

Mass Right To Buy sales from 1980.

https://en.wikipedia.org/wiki/Right_to_Buy

[A Quiet Monkfish]

Re: Interest rates up 0.25% for the 11th Month in a row

Council tenants have always have a right to buy , in various guises

But in was Thatcher in 1983 that gave absolutely massive amounts of tax payers money to council tenants to almost give the fecking things away

It's was immoral and the effects on the housing market are still being felt today


Don't blame Labour

The discount for a house was 33% of the market value if they had lived there for 3 years. It was a decent incentive, but hardly giving them away. There are enough houses - but they're not affordable for many. My son [in England] was telling me yesterday that he was talking a regional manager of a major housebuilder. Since the end of help-to-buy [in England], sales have virtually stopped on new build. If you want to discover why UK house prices have risen so much in 30yrs, you have to go to central London in the 80's. Arabs, then Russians, then Chinese. Oh, and money laundering. It all stems from down 'west', and permeates along the M4 [and others] corridor