Housing

[Colr]

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I wonder what would happen to the housing market in Edinburgh if we banned Airbnb. Its ridiculous how many there are in the city and its definitely contributing to the shortage in Edinburgh

Let property should definitely be a separate use class.

[Colr]

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France has more than double the land mass of the Uk. It’s a bit easier for them without trashing there green spaces and removing agricultural land meaning even more reliance on imports.

I don’t think you can argue that we’ve run out of space to build!

[Colr]

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The increase in material costs are in excess of anything I have seen in nearly 30 years of working in procurement in the industry. Where once you would see annual increase of 5 or 6% on things, most rarely stuck. Now I've seen bricks going up in double digit increases about 4 times in the last year. Timber is around double the price it was a year or so back, Insulation has just gone up again from yesterday at around 40%, plasterboard has gone up around 25% in past couple of months alone. Every category is being similarly affected and lead times are stretched to ridiculous lengths.

That will have an impact on affordability of new builds.

Same here. We’ve seen about 8% overall this year. We’re expecting it to top out at 10-12% and stay there. It’s potentially stagflation terratory

[Ozyhibby]

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I don’t think you can argue that we’ve run out of space to build!

Yip. Scotland is the least densely populated country in Europe.


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[Paul1642]

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I don’t think you can argue that we’ve run out of space to build!

No but I would argue that the central belt is loosing its green space at an alarming belt, and because of where the jobs are no one wants to live where we have an abundance of space.

[Ozyhibby]

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No but I would argue that the central belt is loosing its green space at an alarming belt, and because of where the jobs are no one wants to live where we have an abundance of space.

Jobs will follow infrastructure. Government can change where they want to invest. That’s why all the best paid jobs are in the south of England. That’s where all the infrastructure investment happens.
If the govt wanted to double the size of Inverness by improving its connectivity, investing in its attractiveness to business it could do that easily.


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[MKHIBEE]

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Try building new houses and you’ll see why the supply is so slow

I agreed to buy an already started property in February 2021. I had a buyer for my house 1 day after putting it on the market. I move in on August 2nd. Slow doesn’t begin to describe the process

[hibeesjoe]

Went to look at a small 3 bed newbuild a few months back. It had went up £30k compared to the same house built less than a year ago in the same development. The mortgage would have been close to £1300 a month till the day I retired.

Just feel like I've missed the boat now with it all. My mate always jokes about spam valley, folk with the houses and cars for show but can't afford to go to the pub or do anything else. I take it rising interest rates could potentially cause a crash in years to come?

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[Moulin Yarns]

I'm one that got on the property ladder at the end of the 1970s. Interest rates in double figures, and your mortgage was linked to your salary. 2.5x man's salary + the wives salary. Didn't matter my wife earned more.

How is it possible for people nowadays?

[Stairway 2 7]

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I'm one that got on the property ladder at the end of the 1970s. Interest rates in double figures, and your mortgage was linked to your salary. 2.5x man's salary + the wives salary. Didn't matter my wife earned more.

How is it possible for people nowadays?

Fek knows. This wage to house price graph is frightening.
7t146welfv041.jpg

[Ozyhibby]

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Fek knows. This wage to house price graph is frightening.
7t146welfv041.jpg

It’s a giant bubble. It will burst eventually. Not sure when though. Govt will try prop it up for a good while yet. Could get like Japan in the 90’s.


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[Hibrandenburg]

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I realise it's complete sacrilege but...

we need tens of thousands of decent quality Council Houses, for the many decent people that struggle to pay ever increasing mortgages or ridiculously high rents for sub-standard housing.

It must be a nightmare for young couples looking to set up their first home. The lack of available decent housing pushes up not only house prices but also rent on the most modest of accommodation and thus putting it out of reach for many. Waiting on a council house is like waiting on dead man's boots. Our generation had it easy, we inherited many houses that were previously company supplied in mining and industrial communities where the industries had gone to the wall, of course that brought other problems with it but affordable housing availability wasn't one of them.

In Berlin there are similar problems and there was recently a referendum asking if the authorities should have the right to look at using compulsory government acquisition of property from multiple property owners to free up accommodation for those who need it.

[Hibrandenburg]

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I'm one that got on the property ladder at the end of the 1970s. Interest rates in double figures, and your mortgage was linked to your salary. 2.5x man's salary + the wives salary. Didn't matter my wife earned more.

How is it possible for people nowadays?

It is almost impossible. I bought my first house late (7 years ago) but was fortunate enough to be able to buy without borrowing. Getting on the property ladder for young couples means committing to mortgages that mean they have little or no expendable income, how can a society strive when the population has little or no money available for anything other than essentials? If people can't afford things then recession is not far behind.

[Colr]

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Went to look at a small 3 bed newbuild a few months back. It had went up £30k compared to the same house built less than a year ago in the same development. The mortgage would have been close to £1300 a month till the day I retired.

Just feel like I've missed the boat now with it all. My mate always jokes about spam valley, folk with the houses and cars for show but can't afford to go to the pub or do anything else. I take it rising interest rates could potentially cause a crash in years to come?

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Best value is to build your own. - if you can find a plot!

[Colr]

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I'm one that got on the property ladder at the end of the 1970s. Interest rates in double figures, and your mortgage was linked to your salary. 2.5x man's salary + the wives salary. Didn't matter my wife earned more.

How is it possible for people nowadays?

I was a bit later but I bought my first flat in a nice bit of Glasgow with a 110% mortgage. Didn’t have a deposit!

[Allant1981]

The wife and i were lucky starting out, we used the help to buy scheme, this was 9 years ago, so only had to put down 5%, was still hard saving but cut back on loads and managed, hard when you have kids also but we wanted away from paying huge ampunts on rent, was a pain when you go to sell as you obviously give loads back but was totally worth it, selling then gave us the deposit for our current house. If these deals come up again id recommend them to first time buyers

[Paulie Walnuts]

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The wife and i were lucky starting out, we used the help to buy scheme, this was 9 years ago, so only had to put down 5%, was still hard saving but cut back on loads and managed, hard when you have kids also but we wanted away from paying huge ampunts on rent, was a pain when you go to sell as you obviously give loads back but was totally worth it, selling then gave us the deposit for our current house. If these deals come up again id recommend them to first time buyers

To be fair, although you give loads back you still get back proportionality what you put in, don’t you?

Help to buy is (was?) a great scheme from what I’ve read about it.

[Allant1981]

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To be fair, although you give loads back you still get back proportionality what you put in, don’t you?

Help to buy is (was?) a great scheme from what I’ve read about it.

Yeah we ended up scoring out of it, we had a lot of interest in our house so sold for more than the asking price, as i say help to buy was amazing for us, we had one kid at the time and paying more than double in rent than what our mortgage ended up being. We are also fortunate that we could save, not everyone has that luxury unfortunately

[Andy Bee]

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Yip. Scotland is the least densely populated country in Europe.


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The trouble is, in at least my area, farmers are selling off fields in 1 acre sometimes 2 acre plots with outlining planning for 1 house on each. Fields which could see 60/70 maybe 80 social homes are being sold for 10 - 12 huge self builds.

An example here https://www.zoopla.co.uk/for-sale/de...b3a76f9aff44aa I think there's around 8 of those things built in 1 field and they're cropping up all over the place.

[Colr]

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It’s a giant bubble. It will burst eventually. Not sure when though. Govt will try prop it up for a good while yet. Could get like Japan in the 90’s.


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We keep saying that. It’s worst in London and that hasn’t burst. It’s largely been driven by cheap money (including buy-to-let mortgages) but the prices are baked in now. In 2008, London prices didn’t much shift, just the supply of homes reduced (to 1/3).

The competitive land market also leads to prices getting pushed up.

I’d like to see supply increased through small new towns and villages (I’m not a huge fan of Prince Charles but his Poundbury scheme is not a bad model compared to the 60s versions and would, I think, be resisted less. Maybe the land should be nationalised so the costs can be kept down and more affordable homes provided.

[Colr]

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The trouble is, in at least my area, farmers are selling off fields in 1 acre sometimes 2 acre plots with outlining planning for 1 house on each. Fields which could see 60/70 maybe 80 social homes are being sold for 10 - 12 huge self builds.

An example here https://www.zoopla.co.uk/for-sale/de...b3a76f9aff44aa I think there's around 8 of those things built in 1 field and they're cropping up all over the place.

£715k is presumably for the house not just the plot, yes?

[Andy Bee]

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£715k is presumably for the house not just the plot, yes?

Yup, IIRC the plots started at £150k a few years ago then rose to £250k and then fell back to £175k.

[Since90+2]

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Yip. Scotland is the least densely populated country in Europe.


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Wrong.

[Colr]

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Yup, IIRC the plots started at £150k a few years ago then rose to £250k and then fell back to £175k.

I’d like to buy a plot but not to build that unimaginative guff on it.

[Allant1981]

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Yup, IIRC the plots started at £150k a few years ago then rose to £250k and then fell back to £175k.

To be fair, for that size of house with that amount of land thats actually not a bad price

[Ozyhibby]

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The trouble is, in at least my area, farmers are selling off fields in 1 acre sometimes 2 acre plots with outlining planning for 1 house on each. Fields which could see 60/70 maybe 80 social homes are being sold for 10 - 12 huge self builds.

An example here https://www.zoopla.co.uk/for-sale/de...b3a76f9aff44aa I think there's around 8 of those things built in 1 field and they're cropping up all over the place.

We have pretty small houses in this country compared to our neighbours. I don’t think that’s the problem.



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[Andy Bee]

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We have pretty small houses in this country compared to our neighbours. I don’t think that’s the problem.



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Not saying it's the problem but it certainly aint helping. It'd be interesting to see those figures based on say the last 20 years of building, I'd guess we'd be up that list a bit. Post war council houses and old mining houses etc will be dragging that down a bit.

[Andy Bee]

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I’d like to buy a plot but not to build that unimaginative guff on it.

I agree, the very first field sold out here around 25 - 30 years ago, it was actually on the news because the seller had gotten round planning by stating they were to be crofts. Every house was built with a shed to keep bantoms. Those plots were IIRC £35k for 1 acre and buyers were left to their own devices on the design, there's some serious monstrosities up there.

[Killiehibbie]

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I agree, the very first field sold out here around 25 - 30 years ago, it was actually on the news because the seller had gotten round planning by stating they were to be crofts. Every house was built with a shed to keep bantoms. Those plots were IIRC £35k for 1 acre and buyers were left to their own devices on the design, there's some serious monstrosities up there.

I know a farmer who got permission to change to commercial use as a stepping stone to residential use. He built a big metal barn for use as an equestrian centre and now has 200+ houses in his old fields.

[Ozyhibby]

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Not saying it's the problem but it certainly aint helping. It'd be interesting to see those figures based on say the last 20 years of building, I'd guess we'd be up that list a bit. Post war council houses and old mining houses etc will be dragging that down a bit.

I actually think it’s getting worse. Our new builds are smaller than everywhere else.


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