Cost of living squeeze in 2022

[Biggy Stardust]

eccles said:

dmahon said:

Biggy Stardust said:

I'll argue the opposite. Near me there are badgers & bats- I've seen them & the ecologists camped out saw them too, as did various locals objecting to the planning application.

Someone in the planning department must have received a brown envelope as their existence was totally denied & a bunch of houses built. The council isn't just lazy & incompetent, it's also corrupt.

Note that the additional housing wasn't accompanied by additional supporting infrastructure.

If we don’t build anywhere an animal has been spotted we will be in trouble. That’s kinda the problem.

But some animals have legal protections. If a Badger has been spotted there you have to get someone in to do a Badger survey, then an expert to relocate them.

The main & subsidiary setts are still there. There's a 'badger strip' but the new inhabitants are a bit cavalier about it. No idea whether the bats have been affected.

[Biggy Stardust]

dmahon said:

Cobracc said:

Biggy Stardust said:

Cobracc said:

The government could bring in legislation to set a limit on the number of properties a person is allowed to own at any one time?

How many would my limited company be allowed to own? What about eg a pension fund?

3 maximum.

Has there ever been a market where removing supply reduces prices? I thought supply and demand was a fairly fundamental rule of economics?

I can have an unrestricted number of limited companies so no worries.

[Frimley111R]

swanny71 said:

Reasonable analogy, and to continue it - The driver barrelling on regardless toward an accident will often initially blame anyone/anything rather than take responsibility for their own cock-up.

Dog ran out into the road (the media)
Diesel spill on the road (rich people, boomers, land lords)
Brakes must’ve failed (the banks)
Another drivers fault (the government)

A thousand examples on the 'st driving' thread, just about every single dashcam owner....

[Frimley111R]

swanny71 said:

Yep, I also find it puzzling and it frustrates (not angers) me. Feel for those who’ve been sensible but are still in the st. Struggle to feel sympathy for those who’ve been a bit stupid.

Yep, 100% this. Most of the people on the news are simply people who spend too much, don't work hard or both. Too keen to say 'Help me' instead of doing something to help themselves. If you're too poor to buy food get a P/T job, cut spending etc.

People who are good (sensible) with money aren't struggling.

[gotoPzero]

Just been looking locally at rents for properties, jeez its really gone up. I used to rent a 3 bed semi for 750PCM until 2019.
The same type of house on the same estate is currently on for 1700,,,, that cant be right can it?!?!

Are people pricing in risk for possible defaults?

[Vanden Saab]

loafer123 said:

Downward said:

Good news

https://twitter.com/jolyonmaugham/status/152790758...

He’s the chap who never wins cases and beat a fox to death in his garden, isn’t he?

£4.2 million raised by crowdfunding, 44 cases, 36 losses... Judging by his tweets though he really does understand his target audience.

[Earthdweller]

gotoPzero said:

Just been looking locally at rents for properties, jeez its really gone up. I used to rent a 3 bed semi for 750PCM until 2019.
The same type of house on the same estate is currently on for 1700,,,, that cant be right can it?!?!

Are people pricing in risk for possible defaults?

I have no idea why, but rents do seem to have gone crazy with mental amounts being asked for very average /low quality property

[Welshbeef]

Earthdweller said:

I have no idea why, but rents do seem to have gone crazy with mental amounts being asked for very average /low quality property

A few reasons
1. BOE interest rates gone up
2. No longer allowed to offset all your mortgage interest
3. Check in etc costs now paid for by landlord
4. Upgrading properties
5. Regulations coming
6. Sell off of buy to let = less supply with same of higher demand.

[iphonedyou]

pquinn said:

Same old argument we've had for years from the people who stand to make money from the things, and who just love to concentrate on building where they'll make the most money instead of - just maybe - suggesting the people go where there's plenty of cheaper property already.

And wah wah the planning system is broken - never heard that one before! Of course it's broken if you're looking from the side that just wants a rubber stamp and no interference.

The one thing I've definitely never seen with the tens of thousands of houses and flats built around my way is that letting people build extra made the prices come down. Definitely some very juicy profits, but never lower prices. And that's despite all those years of claims that if developers could build more that prices will drop.

Especially when all the activities in the market, especially by government, are targeted to make sure prices *don't* drop; maybe affordability gets boosted by no one wants lower prices ever.

This is an incredibly reductive analysis.

Planning should facilitate a middle ground whereby schemes can be built with minimal detriment. The idea that developers want no interference is a strawman - their own returns are predicated, to an extent, on the quality of surrounding development!

The system is demonstrably broken - it's inefficient, poorly resourced, protracted and inconsistent. What it sets out to do is laudable - critical, in fact - but it (and I include the many statutory consultees which feed in) needs to be better in myriad ways at allowing applications to be progressed through. Even where that leads to a rejection - at least make it quick!

Oh, and brown envelopes. Nope.

[Sway]

I'd also argue that it's far too heavily weighted towards 'developers'.

My dream is to build my own house. Unfortunately, in the area I'd love to do so, it's effectively impossible without incredibly deep pockets - buying an existing house, then knocking it down to rebuild within the same footprint.

[loafer123]

gotoPzero said:

Just been looking locally at rents for properties, jeez its really gone up. I used to rent a 3 bed semi for 750PCM until 2019.
The same type of house on the same estate is currently on for 1700,,,, that cant be right can it?!?!

Are people pricing in risk for possible defaults?

We are looking for a rental flat for my daughter in Bristol, and rents seem to be falling.

[eccles]

gotoPzero said:

Just been looking locally at rents for properties, jeez its really gone up. I used to rent a 3 bed semi for 750PCM until 2019.
The same type of house on the same estate is currently on for 1700,,,, that cant be right can it?!?!

Are people pricing in risk for possible defaults?

My boss has just rented a 3 bed semi on the same estate as me. It took him a couple of months to get one as they seem to get snapped up really quickly.
Rents around here are between £900 - £1200 a month depending on what you get.

[gotoPzero]

eccles said:

gotoPzero said:

Just been looking locally at rents for properties, jeez its really gone up. I used to rent a 3 bed semi for 750PCM until 2019.
The same type of house on the same estate is currently on for 1700,,,, that cant be right can it?!?!

Are people pricing in risk for possible defaults?

My boss has just rented a 3 bed semi on the same estate as me. It took him a couple of months to get one as they seem to get snapped up really quickly.
Rents around here are between 900 - 1200 a month depending on what you get.

Perhaps its a supply issue in this area I dont know but I had a look on rightmove and anything 3 bed with a garden and off street parking was well over 1k a month.

I am just glad I sold mine when I did because I know for a fact my tenants would not have been paying through covid.

[monkfish1]

Sway said:

I'd also argue that it's far too heavily weighted towards 'developers'.

My dream is to build my own house. Unfortunately, in the area I'd love to do so, it's effectively impossible without incredibly deep pockets - buying an existing house, then knocking it down to rebuild within the same footprint.

The bigger you are, the easier it is to steam roller through whatever it is you want to build.

I was like you. Ive long since thrown in the towel on that idea. Its now just to hard, too expensive.

Much easier to find an old place and gut it and do it up.

[Welshbeef]

monkfish1 said:

Sway said:

I'd also argue that it's far too heavily weighted towards 'developers'.

My dream is to build my own house. Unfortunately, in the area I'd love to do so, it's effectively impossible without incredibly deep pockets - buying an existing house, then knocking it down to rebuild within the same footprint.

The bigger you are, the easier it is to steam roller through whatever it is you want to build.

I was like you. Ive long since thrown in the towel on that idea. Its now just to hard, too expensive.

Much easier to find an old place and gut it and do it up.

Thing is there are also many people looking to do exactly what your trying to do…

[Throttlebody]

Frimley111R said:

swanny71 said:

Yep, I also find it puzzling and it frustrates (not angers) me. Feel for those who’ve been sensible but are still in the st. Struggle to feel sympathy for those who’ve been a bit stupid.

Yep, 100% this. Most of the people on the news are simply people who spend too much, don't work hard or both. Too keen to say 'Help me' instead of doing something to help themselves. If you're too poor to buy food get a P/T job, cut spending etc.

People who are good (sensible) with money aren't struggling.

A nice big juicy fat wake up call for all those living beyond their means and thought the era of cheap money would last forever.

[m3jappa]

Welshbeef said:

monkfish1 said:

Sway said:

I'd also argue that it's far too heavily weighted towards 'developers'.

My dream is to build my own house. Unfortunately, in the area I'd love to do so, it's effectively impossible without incredibly deep pockets - buying an existing house, then knocking it down to rebuild within the same footprint.

The bigger you are, the easier it is to steam roller through whatever it is you want to build.

I was like you. Ive long since thrown in the towel on that idea. Its now just to hard, too expensive.

Much easier to find an old place and gut it and do it up.

Thing is there are also many people looking to do exactly what your trying to do…

Yep.

I too would love to build my own place, not even to make money from but because i would enjoy building my own place to how i would like it.

You look at most new builds now which are on single plots. They (generally) aren't single houses on single plots, its 3 or 4 houses on the plot of the old bungalow.

bungalow sells for 700k because they know it will become 3-4 houses.

cost of building a house: say 500k

so stands you in at 1.2m and you've got to build it yourself and it might be worth 1m......

4 houses though.......

Like you say you need incredibly deep pockets

going by costs of plots of land round here (not that theres many tbh) my house was almost free

[Biggy Stardust]

gotoPzero said:

Just been looking locally at rents for properties, jeez its really gone up. I used to rent a 3 bed semi for 750PCM until 2019.
The same type of house on the same estate is currently on for 1700,,,, that cant be right can it?!?!

Are people pricing in risk for possible defaults?

Government keeps making it more complicated, more risky & more expensive to be a LL & then everyone is amazed when prices go up to compensate.

[djc206]

Throttlebody said:

A nice big juicy fat wake up call for all those living beyond their means and thought the era of cheap money would last forever.

Money is still going to be cheap just not as cheap

[Sway]

Welshbeef said:

monkfish1 said:

Sway said:

I'd also argue that it's far too heavily weighted towards 'developers'.

My dream is to build my own house. Unfortunately, in the area I'd love to do so, it's effectively impossible without incredibly deep pockets - buying an existing house, then knocking it down to rebuild within the same footprint.

The bigger you are, the easier it is to steam roller through whatever it is you want to build.

I was like you. Ive long since thrown in the towel on that idea. Its now just to hard, too expensive.

Much easier to find an old place and gut it and do it up.

Thing is there are also many people looking to do exactly what your trying to do…

So?

I'm not talking about fair competition on price - I'm talking about how it seems borderline impossible as a 'single home builder' to get planning on anything that isn't a 'footprint' replacement.

Yet the larger developers (not the huge ones) are able to buy a plot and get planning for four postage stamps houses.

The huge developers around me are getting land compulsorily purchased for them, to meet the government house building targets. Yet a nice, 'isolated' (from other farmland) couple of acre plot gets left to run wild as it's useless to the farmer - and it was made very clear to me by the Planning Officer that I'd have zero hope of getting planning for a single dwelling on it. Despite it being right next to a row of houses of similar plot sizes, built over a century or so.

That was even asking about only having 20% or so changed to 'domestic curtilage' as the rest would have been a smallholding.