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Should Over 65s Be Given A stamp Duty Holiday?


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..  to free up larger homes for people with families..

Or are they completely missing the point,  that we simply aren’t building the right sort of housing stock that the nation wants/needs and instead we should just stop building shoe boxes and start building proper size / quality housing?

Thoughts..

 

 

Stamp duty should be cut for over-65s who want to move house for the last time to stop them clogging up the property market, a major study has said.

Older homeowners are contributing to the housing crisis by staying put in large properties, according to the report by Cass Business School and the Centre for the Study of Financial Innovations – with 15 million "surplus" bedrooms in under-occupied homes.

https://www.telegraph.co.uk/property/uk/over-65s-cause-dysfunctional-housing-market-living-large-family/


 

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Developers can't build bungalows any more due to the UK planning laws. They have to build high density housing to meet the homes/hectare limits which leads to what we see today. Town houses with a tin

I'm sure most builders would try to squeeze as much into a plot as they can anyway,  but the fact that it is a top down planning decision just compounds the problem. The builders are (understanda

I’ve also come to the conclusion in recent months that a detached bungalow is what I’m gonna try and get.

The reason they don't move is because there isn't any reason to.  

They have to invent a reason to move -- higher house taxes might help, as would a 'bedroom rebate' (ie, tax property at a high rate, and give a %age rebate per occupant -- this would be more effective than the 'bedroom tax' that was too targeted at the poorest).

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3 minutes ago, Hopeful said:

I want a bungalow

I've only ever wanted a bungalow

Not all those who desire a bungalow are old

 

 

 

Tough.

You can have an “affordable” 3 bedroom eco town-house/flat with no garden.

We don’t build anything else.

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Posted (edited)
24 minutes ago, Libspero said:

Tough.

You can have an “affordable” 3 bedroom eco town-house/flat with no garden.

We don’t build anything else.

Hence I rent

I rent a one up one down in a rural idyll. This house has it's advantages. It is 'upside down'

And so the views from the living room that is among the tree tops are exceptional.

I would consider an 'upside down house' over a bungalow, but only then, otherwise, a bungalow wins out as outside maintenance is so much easier.

Edited by Hopeful
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59 minutes ago, Libspero said:


..  to free up larger homes for people with families..

Or are they completely missing the point,  that we simply aren’t building the right sort of housing stock that the nation wants/needs and instead we should just stop building shoe boxes and start building proper size / quality housing?

Thoughts..

 

 


 

Does 'fuck right off' count as a thought?

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1 hour ago, Libspero said:


..  to free up larger homes for people with families..

Or are they completely missing the point,  that we simply aren’t building the right sort of housing stock that the nation wants/needs and instead we should just stop building shoe boxes and start building proper size / quality housing?

Thoughts..

 

 


 

I can't read the article but what's there to stop over 65s from trading multiple times and not necessarily downsizing?

In general, I am all for reducing friction of property transactions but it should be combined with some controls to reduce speculation. 100% cgt if you sell in the first 10 years for example

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2 hours ago, Libspero said:


..  to free up larger homes for people with families..

Or are they completely missing the point,  that we simply aren’t building the right sort of housing stock that the nation wants/needs and instead we should just stop building shoe boxes and start building proper size / quality housing?

Thoughts..
 

Why do they need a Stamp Duty holiday, they should have spare cash if they are downsizing?

Two ways to make older people free up larger homes

1) Make the single person 25% council tax discount only apply up to age 65. Over that age instead of a discount, it becomes an extra 25% charge per spare bedroom

2) Ban equity release.

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1 hour ago, Popuplights said:

I live in a bungalow now. I love it.

Are they still building them?

I can’t remember the last time I saw an estate with new build bungalows (or anything other than flats / high density town houses really).

The only government data I could find on new housing starts had almost no information about the actual type/quality of housing being built.  They have a single chart in their annual report,  and it only gives a graph of flats vs houses:

6-B4-FA3-E1-99-F9-4-B65-97-BA-93-B125554
 

The BBC have an article saying that by 2014 bungalows accounted for less than 1% of new builds despite an aging population,  and the trend is downwards.

Why has Britain stopped building bungalows?http://www.bbc.co.uk/news/magazine-35762512
 

Date Bungalows Flats/maisonettes
1996 7% 15%
1999 6% 17%
2001 4% 25%
2004 3% 41%
2010 2% 37%
2014 1% 33%

 

So the point is,  where are all these old people going to move to?  

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Posted (edited)
17 minutes ago, Libspero said:

Are they still building them?

I can’t remember the last time I saw an estate with new build bungalows (or anything other than flats / high density town houses really).

The only government data I could find on new housing starts had almost no information about the actual type/quality of housing being built.  They have a single chart in their annual report,  and it only gives a graph of flats vs houses:

6-B4-FA3-E1-99-F9-4-B65-97-BA-93-B125554
 

The BBC have an article saying that by 2014 bungalows accounted for less than 1% of new builds despite an aging population,  and the trend is downwards.

Why has Britain stopped building bungalows?http://www.bbc.co.uk/news/magazine-35762512
 

Date Bungalows Flats/maisonettes
1996 7% 15%
1999 6% 17%
2001 4% 25%
2004 3% 41%
2010 2% 37%
2014 1% 33%

 

So the point is,  where are all these old people going to move to?  

Developers can't build bungalows any more due to the UK planning laws. They have to build high density housing to meet the homes/hectare limits which leads to what we see today. Town houses with a tiny garden and 1 parking space. 

In order to build some bungalows a developer would have to cram in even more town houses to make the quota. 

I've pointed out that the NIMBYs demand even higher housing densities but don't live in, and wouldn't ever live in this type of house.

Edited by assetrichcashpoor
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1 hour ago, assetrichcashpoor said:

Developers can't build bungalows any more due to the UK planning laws. They have to build high density housing to meet the homes/hectare limits which leads to what we see today. Town houses with a tiny garden and 1 parking space. 

I'm sure most builders would try to squeeze as much into a plot as they can anyway,  but the fact that it is a top down planning decision just compounds the problem.

The builders are (understandably) only interested in maximum profit.

The government are only interested in the number of "houses" built.

The fact that there is no interest in the actual quality of what we are building or whether it is really desirable means that in a few more generations nobody except the very richest will be able to afford anything more than a pokey gardenless Barratt box because that is all that will be available.   

Just seems very short sighted..   and now the problem is being realised people seem to be looking at the wrong remedies.  The problem isn't that old people need to be kicked out of their homes,   it's that we should be building more suitable family housing in the first place.

It seems this can/will only get worse..  :/

[/Soapbox]

 

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54 minutes ago, JoeDavola said:

Just did some searching there; amazing what you can get if you move into the depths of the NI countryside:

https://www.propertypal.com/16-garlaw-road-clogher/279373/photo-28

It looks an ideal place to which to retire and pursue hobbies with that enormous workshop.

Maybe a bit isolated? I know that isolation seems very appealing when you're stuck in an inner city flat but it's handy to have neighbours and to be within walking distance of a shop.

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12 hours ago, dgul said:

The reason they don't move is because there isn't any reason to.  

They have to invent a reason to move -- higher house taxes might help, as would a 'bedroom rebate' (ie, tax property at a high rate, and give a %age rebate per occupant -- this would be more effective than the 'bedroom tax' that was too targeted at the poorest).

Indeed, my parents have a massive 4 bed house worth a small fortune. It's been just the two of them for 25 years or so but they have absolutely no desire or reason to move.

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