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Originally Posted by Ignitionnet
Given the amount the planks paid for land in many cases their options are limited.
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The rarety of residential land is the cause for that ,if the government free up more green belt land (as suggested) then the price should fall ,whether it would fall to prices as low as they where 20yrs ago is another matter
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In 1983, a hectare cost just £75,000, meaning land prices in the capital have risen by 624%. Land prices in Wales have grown the fastest. In 1983, a hectare cost just £85,000. By the end of 2002, this had soared to £980,000 - a 1,053% increase. Across the UK, land prices have risen from £174,000 a hectare to nearly £1.6m - an increase of 808%. The most expensive area of the country to build in besides London is the Home Counties. (e.g. Surrey, Sussex, Kent, Berkshire, Hampshire, Oxfordshire, Buckinghamshire, Hertfordshire).
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http://www.advice-landforsale.co.uk/...e-regional.htm
---------- Post added at 17:12 ---------- Previous post was at 17:06 ----------
Quote:
Originally Posted by ntluser
I just wonder who is going to buy the homes of these downsizing over 60s given that most young people are unable to get a mortgage.
It is also worth noting that many over 60's may have elderly parents or children who for one reason or another are still living at the over 60s homes.
Given that there are plenty of vacant homes that could be repaired, maybe the government could give local authorities or housing trusts the powers and the funds to buy said properties at auction, do them up and rent them out or sell them on at low cost.
If the government are that concerned about the difficulty in obtaining homes maybe they should take the homes of career criminals and put them up in prison as they deserve.
Why should law-abiding people who have worked all their lives and paid their taxes be forced out of their homes simply because they are over 60? Are all the MPs who are over 60 going to sell their mansions to live in a 2 up 2 down or a retirement home? I don't think so.
Time to consign this idea where it belongs.In the rubbish bin.
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A) Local Authorities already buy properties in need of repair from owners who cannot afford to modernize ,they are called "Aquired Properties"
B)no-one is suggesting that home owners get "forced out" of their homes they would be offered lower or zero stamp duty as a incentive to sell