Savills estimates about 100,000 new homes a year need to be priced below going market rate
A major downturn in Britain’s housing market could halve the building of affordable homes, the property firm Savills has warned.
Savills estimates that about 100,000 new homes a year – a third of the government’s 300,000 target – need to be priced at levels below the going market rate, whether for rent or for sale.
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They aim to promote stability, but might actually increase uncertainty about real things like home values or investments
In many countries, inflation has become so low and stable in recent decades that it appears to have faded into the woodwork. Whereas galloping inflation was once widely viewed as the number one economic problem, today most people – at least in the developed countries – hardly ever talk about it or even pay attention to it. But “silent inflation” still has subtle effects on our judgment, and it may still lead to some consequential mistakes.
Since New Zealand’s central bank set the first example in 1989, monetary authorities around the world have increasingly pursued a policy of setting inflation targets (or target ranges) that are substantially above zero. That is, policymakers plan to have inflation, but steady inflation. What used to be a dirty word is now announced publicly, and moderation is enforced.
Continue reading...The two most common forms of property ownership in the UK are freehold and leasehold but what do these terms mean in practice? Leasehold With leasehold you are buying for a fixed period, usually 99 years if the home is new though leases can be much shorter. However, you do not own the land the property […]
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He also said the government’s help-to-buy scheme was only for younger people
Q I would like to know if I am eligible for the help-to-buy scheme. I am currently 54 but will be 55 in January 2019 and rent a room for £670 per month. One of my brothers has told me that I would never get a mortgage at my age and also that help-to-buy is only aimed at young first-time buyers. My other brothers say that I am already paying a mortgage by renting. JH
A Your brothers are talking rubbish. Your age is not a barrier to getting help from the help-to-buy scheme which is not aimed only at young first-time buyers. Nor will your age necessarily stand in the way of your getting a mortgage. Since July 2016, for example, at Nationwide building society the maximum age you can be at the end of any mortgage term has been 85 while at Halifax it is 80. And as for already paying a mortgage by renting, the rent you pay might well be paying someone else’s mortgage but it is certainly not yours.
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