Affordability of housing
Affordability of housing is a major issue in London. Why do you think this is? Who does it affect?
Affordability of housing is a major issue in London. Why do you think this is? Who does it affect?
The discussion ran from 05 September 2017 - 01 May 2018
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Log into your accountbrendak142
Community Member 7 years ago"Affordable housing" is NOT affordable, merely a little cheaper than the rest.
Show full commentThe problem is too many people buying properties, not to live in, but to rent out and make a fat profit.
I suspect a lot of these buyers do not even live in...
"Affordable housing" is NOT affordable, merely a little cheaper than the rest.
Show less of commentThe problem is too many people buying properties, not to live in, but to rent out and make a fat profit.
I suspect a lot of these buyers do not even live in this country; they just buy as an investment.
Miffy
Community Member 7 years agoAnd another thing... you pay X amount rent every month which apparently you can afford....but you can't get a mortgage for equivalent property due to low income/self employed/gig worker. Yeah makes perfect sense despite mortgage being...
Show full commentAnd another thing... you pay X amount rent every month which apparently you can afford....but you can't get a mortgage for equivalent property due to low income/self employed/gig worker. Yeah makes perfect sense despite mortgage being cheaper.
Why is filling the pockets of private Landlords good for the country? I'd rather pay my council fair market rate rent and know its going back into the system than paying for my landlords extended cruises and 2nd home in south France.
Show less of commentMiffy
Community Member 7 years agoPart buys are HILARIOUS.... last time I looked into this option I needed to earn £70k to qualify......how is £70k low income? You laugh you cry you give up.
Show full commentPart buys are HILARIOUS.... last time I looked into this option I needed to earn £70k to qualify......how is £70k low income? You laugh you cry you give up.
Show less of commentAW
Community Member 7 years agoLike the NHS and so much else, the problem is the government and establishment who like the status quo because they can make money out of it.
Show full commentIf they wanted to help us, they would empower councils to take over derelict housing and turn it...
Like the NHS and so much else, the problem is the government and establishment who like the status quo because they can make money out of it.
Show less of commentIf they wanted to help us, they would empower councils to take over derelict housing and turn it into social housing, and build human-scale low-rise social housing on brown-field sites.
jelly1000
Community Member 7 years agoDevelopers are allowed to market flats as 'luxury' and thereby add £££ onto the asking price. Given the current housing situation developers should not be allowed to do that. And as others have said even so called affordable flats require...
Show full commentDevelopers are allowed to market flats as 'luxury' and thereby add £££ onto the asking price. Given the current housing situation developers should not be allowed to do that. And as others have said even so called affordable flats require people to be earning good money to think about buying them.
Show less of commente9citizen
Community Member 7 years agoi agree.. there's absolutely no need for it.
Show full commenti agree.. there's absolutely no need for it.
Show less of commentpukpuk
Community Member 7 years agoIt is because you sold all council properties to tenants for peanuts and our government invites unlimited number of low educated, not speaking English, unemployable immigrants.
Anonymous - account deleted
Community Member 7 years agoEveryone: I would like a house/ a bigger house/ a nicer house/ to live in a nicer area of London.
Show full commentEveryone: I deserve a discount/ no tax/ rule exceptions/ special consideration
Everyone: I am more local/ more essential/ more friendly than...
Everyone: I would like a house/ a bigger house/ a nicer house/ to live in a nicer area of London.
Everyone: I deserve a discount/ no tax/ rule exceptions/ special consideration
Everyone: I am more local/ more essential/ more friendly than the mysterious 'other' people that I believe are preventing me from achieving my desires
Everyone: Thus, something must be done.
It is expensive to live in London, like other brilliant global cities. Demand outstrips supply.
Until we agree to ration demand, or that some people are more important than others and they should get a better housing deal than everyone else, we will not artificially solve "affordability". It is important to note that these scenarios only work for a few winners - if you discount the price for everyone, you've discounted the price for no one.
Or we could build more homes to make all housing more affordable.. but...
Show less of commentEveryone: I don't want them to build homes near me because my house price will fall/ they're ugly/ the roads are too busy/ the school is already full/ you can't build on that grass/ etc etc...
jeweltraveller
Community Member 7 years agoA list of sentiments I don't agree with personally, but please share your personal situation and your proposals for a solution to making London Homes more affordable?
Show full commentA list of sentiments I don't agree with personally, but please share your personal situation and your proposals for a solution to making London Homes more affordable?
Show less of commentmulligan
Community Member 7 years agoThe high cost of housing is partly cos the rich want to be here, & they don't care if they drive out the poor. The poor are affected most. I believe Barcelona has taken steps to keep down housing costs.
guy_allott
Community Member 7 years agoWho does this affect? Absolutely every single Londoner.
Anonymous - account deleted
Community Member 7 years agoFor this idea to work I guess central government would have to be involved too, but perhaps if somehow the Mayor of London could start the process off it could then gather traction.
Anyway my idea would be for affordable housing to be made...
Show full commentFor this idea to work I guess central government would have to be involved too, but perhaps if somehow the Mayor of London could start the process off it could then gather traction.
Anyway my idea would be for affordable housing to be made the priority for all developers. I'm sick and tired of watching nice buildings being turned into 'luxury flats' or new developments springing up with no concern for the neighbourhood or the people who need to work in the area and want an affordable home. I'm sure we're all sick and tired of this. So how do we persuade developers to do the right thing, and stop chasing the megabucks by building properties that stand empty for their overseas owners to make money from?
I suggest a carrot-and-stick approach. Just like when we were all persuaded to wear seatbelts, only this time using the tax system. Give substantial tax credits to developers for building good quality affordable housing - perhaps in London it could be linked to business rates and other forms of financial control the Mayor has a say in - and increase corporation tax for every luxury flat completed. That means those wanting to pay for an expensive flat will still be making a proper contribution, while there's a genuine incentive to building good affordable housing for everyone else.
What other forms of financial incentives could work? What other means has the Mayor got to turn on, and off, the taps, to push developers to do the right thing?
Show less of commentjeweltraveller
Community Member 7 years agoAs a first time buyers on a very good salaries I find it ridiculous that my husband and I cannot afford to buy a flat anywhere near the area I have lived for more than ten years - Fulham. We work very hard and contribute to our community...
Show full commentAs a first time buyers on a very good salaries I find it ridiculous that my husband and I cannot afford to buy a flat anywhere near the area I have lived for more than ten years - Fulham. We work very hard and contribute to our community and there is no incentive offered to encourage us to buy. Even a reduction in stamp duty for first time London buyers would make all the difference. Our neighbourhood is full of buy to let landlords, most foreign, who invest nothing in the community and very little even in upkeep of the buildings they buy. Surely London housing needs to be prioritised for the people who live and work here and want to build a permanent community. We don't expect a discount on market value, or any kind of free housing but tax and duty reductions or elimination to help us to compete would be a huge incentive. First time buyers pay no stamp duty in Australia, and receive a government grant for their deposit - this scheme would work very well here for Londoners! Please look into it! Thank you
Show less of commentAnonymous - account deleted
Community Member 7 years agoWhy does the nationality of the buy-to-let landlords you perceive taking over Fulham matter to your argument?
And don't the renters who live in those properties represent "people who live and work here and want to build a permanent...
Show full commentWhy does the nationality of the buy-to-let landlords you perceive taking over Fulham matter to your argument?
And don't the renters who live in those properties represent "people who live and work here and want to build a permanent community".
Your proposals (reduction/ no stamp duty; other tax or duty reductions/ elimination; deposit supported by government grant) all do actually represent "a discount on market value", as they would save you money from the equivalent total purchase cost. Each of these proposals would increase demand, and so likely prices.
Show less of commentjeweltraveller
Community Member 7 years agoThanks Ross- I think you mis understand- I am a renter in this area and I do want to establish and contribute PERMANENTLY- with short term tenancies, this is hampered as renters' location is not secure. You have highlighted that more is...
Show full commentThanks Ross- I think you mis understand- I am a renter in this area and I do want to establish and contribute PERMANENTLY- with short term tenancies, this is hampered as renters' location is not secure. You have highlighted that more is done to secure longer term tenancies for people like us. Thank you. And yes I do want an incentive that gives us an advantage - this is indeed what I am asking for local people who live and work in London - this is what this consultation is addressing is it not?? The scheme is very successful in Australia - we should be assessing such supportive schemes - and tax cuts associated - to help first time buying Londoners like me as the housing values in London are off the chart on affordability scale- Hense this consultation asking for ideas....
Show less of commentPaul Bowers
Community Member 7 years agoaffordability does not really exist.
the affordability factors are set on incomes of £50000 in most cases very few people earn this amount and of those that do they can normally afford a property anyway.
part buy schemes set ridiculous...
Show full commentaffordability does not really exist.
the affordability factors are set on incomes of £50000 in most cases very few people earn this amount and of those that do they can normally afford a property anyway.
part buy schemes set ridiculous income requirements so as to remain affordable for the majority
Show less of comment