Massive Sheffield Housing Crisis On Its Way?

[mrsb73 11]

we went to several open house viewings just before the pandemic and at many of them were people who had made the trip up from down South and were viewing up to 10 properties in one day to purchase for property investment groups.  Made me think then about how local people would be either pushed out of the purchase market and / or be forced to rent. 

[Jim Hardie 527]

1 hour ago, the_bloke said:

It's been well publicised that housing prices across the country are going up at a high rate as people want bigger houses to work from home and more people have the money to buy as lockdowns have enabled people to save money for bigger deposits than they would normally.

 

It's called fleecing the buyer, and the only people in a buying chain that get to take advantage of it are those people downsizing.

How can a phenomenon caused by market forces be called fleecing the buyer?

[Annie Bynnol 612]

1 hour ago, mrsb73 said:

we went to several open house viewings just before the pandemic and at many of them were people who had made the trip up from down South and were viewing up to 10 properties in one day to purchase for property investment groups.  Made me think then about how local people would be either pushed out of the purchase market and / or be forced to rent. 

No different from Sheffield people going to the coast, Derbyshire, Wales, South West etc. buying houses to use  a few weeks a year as holiday homes or to rent out as holiday lets.

This pushes the cost of homes out of reach of young locals with families. At least  in Sheffield it will not lead to the closures of schools, shops and local facilities.

[The Joker 10]

5 hours ago, Jim Hardie said:

How can a phenomenon caused by market forces be called fleecing the buyer?

I guess it all depends on whether you're the buyer or the seller

[Jim Hardie 527]

25 minutes ago, The Joker said:

I guess it all depends on whether you're the buyer or the seller

Nobody is forced to be a buyer. If you think you’re being fleeced, don’t buy.

[The Joker 10]

3 minutes ago, Jim Hardie said:

Nobody is forced to be a buyer. If you think you’re being fleeced, don’t buy.

What's the alternative?  Spend £600 a month rent to live next door to somebody like me?

 

No thanks

[kidley 48]

in the not to distant future there will be more housers on the market when the interest rate go up, and they will, inflation is creeping up now.

 

[Ms Macbeth 75]

More social housing has been needed for a while.  Scotland and Wales have done the sensible thing and removed the Right to Buy, but it doesn't look like stopping anytime soon here in England.  People need homes to rent long term from responsible landlords, at decent rates.  If housing associations and other social landlords built decent retirement housing (we can't all afford McCarthy & Stone) I'm sure more older people would downsize to the right accommodation, freeing up family homes for younger people.  

[bassett one 452]

thats very true,i worked on a survey a few years ago ,with a local tara/housing,lots of houses would be given back by over 60s,but the problem is they said they didnt want a flat,as they were worried about being mixed with noisy neighbours,they would want a nice bungalow,so that was the answer a few years back.

[kidley 48]

yet  bungalows are more expensive than housers, and

take up more room. 

[Jeffrey Shaw 90]

20 hours ago, kidley said:

in the not to distant future there will be more housers on the market when the interest rate go up, and they will, inflation is creeping up now.

 

Yes. Maybe the house-price inflation is due entirely to the low rates of return on investment accounts and the consequent ease of borrowing mortgage advances to fund purchasing.  Interest rate rises will reduce the impulse a lot and also lead to more housing being sold: increased supply means reduced prices.

[bassett one 452]

yes bungalows may cost same as houses,but if they give back thousands of council houses to familys,surely that would be good,but i cannot see,SCC building any social bungalows or houses