War declared on land values

[bankrupt]

Thin end of the wedge yesterday, folks.

https://www.theguardian.com/politic...rs-sell-state-fraction-value?CMP=share_btn_tw

Next will surely be the announcement of the removal of APR and/or BPR.

Of all farming activities, cropping farms would be the most hindered by this.

Think a cunning plan might be to get out this Michaelmas and back in in 2023 on double the acreage.

 

[multi power]

I'd love to know how corbyn is going to change the law, I had always thought only the government could change laws

 

[Against_the_grain]

They can't force this through. They have no legal stand point from which to start dictating market prices unless we go full commie.
Apr I get the feeling most people are resigned to the fact it will disappear although I believe we are giving up this fight too easily as most will be covered by bpr which won't disappear. If we had a coherent organisation working together for the interests of farmers we wouod be able to trade Apr for other connsessions elsewhere buy we don't so we won't...

 

[franklin]

There is no way they can take land without just compensation. Just wont happen. I offered to build a load of affordable housing - council wernt interested despite having done the study to show they needed to build some.

Think a cunning plan might be to get out this Michaelmas and back in in 2023 on double the acreage.

How many farmers have sold, thinking land would drop and they would get back in either got back in with less land, or are still waiting for it to happen?

 

[Courier]

Easiest way to lower building land prices would be to reform the planning process....

 

[bankrupt]

How many farmers have sold, thinking land would drop and they would get back in either got back in with less land, or are still waiting for it to happen?

Far too many, static, but they were victims of financial markets.

It's different this time.

 

[franklin]

Easiest way to lower land prices would be to reform the planning process....

Yup. How many UK politicians are going to say "house prices too high - lets build loads more home that are needed". Exactly nil.

 

[PSQ]

With Corbyn at the helm, the UK will sink like the Titanic.

4 years in, and anyone with more than a fiver in their pocket will be able to point at any British company and buy it twice over.

 

[franklin]

Far too many, static, but they were victims of financial markets.

It's different this time.

Bet they said that too.

 

[honeyend]

Where you own your land is a bit of a lottery. You could have 100 acres be no where near a town or main road and that land will never be worth more than its agricultural value. Or you could own land that say 10miles out of town, the town grows or they stick in a bypass and suddenly your land with planning is worth 10 times as much. We have farmland near us that has been earmarked for development just because the bypass round the village has created a nice development pocket. We are on the wrong side of the village so we will never get this windfall.
Most of the cost now of building a house now is in the land. The boxes they put up now in 10-12wks have a standard build cost, the land is the only variable, and any infrastructure that the developer has to put in. That why new builds are so expensive.
I am no JC fan but I can see some value in this idea. If all building land had to be sold for a set value for the area, but builders could only add that value to their build costs and no more.
The problem is we live in a market economy, if there is a shortage of housing when it is sold on the values will go up. If values fall quickly, people who have paid for new houses will have negative equality mortgages, and as other people have said pension investors who have invested in property could see their income fall.
I think a bit like after the war there needs to be the standard house that can be erected quickly, and perhaps tax breaks for land owners who allow these sort of house to be built on their land and sold at a standard local area price.
The problem with all house building is the NIMBY. The horse field in the village is being fought over, it has so real natural beauty, and yes if you are walking it does have a view, but most drive by. They want a view instead of five house and an extentsion to the playschool. I hope the land owner sticks up a big green shed to block the view.
My neighbour fought to and nail against someone else building a house, which she does not overlook, its actually closer to me, I am quite happy to have a new neighbour.

 

[franklin]

Tight planning control creates high value for development land. If more was available to build on, the value would fall. That's not tricky - it's national policy.

 

[DrWazzock]

We offered 4 affordable houses for local people but the planners said it would spoil the village and would only grant permission for 3 larger homes. So much for their concerns for affordable housing. It doesn't really bother us either way as the 3 larger houses are worth as much as the 4 smaller ones but as usual local young people are priced out again thanks to nimbies.

I also have to say that the cost of the plots themselves is becoming a diminishing part of the overall cost when compared to legal and planning fees, utility company connection fees and all the "extras" the local authority wants in terms of footpaths and highway improvement that now seems to fall on the developer.

I detect a cooling in demand in this area for plots. Plenty available at not excessive prices. Conditions and costs applied by planners don't help. Prices had got a bit silly though.

 

[ollie989898]

Legal or not, this will look like all their Christmases have come at once for over half the electorate!

Right up until their houses start being devalued due to oversupply!!!!

 

[spin cycle]

Legal or not, this will look like all their Christmases have come at once for over half the electorate!

Right up until their houses start being devalued due to oversupply!!!!

thats the rub for the economy....build enough homes for everyone but destroy your economic model by doing so

 

[Ffermer Bach]

The reason Britain does well economically is because compared to the rest of the world we are a very safe and law abiding country, eg if you own something the state cant just appropriate it, there fore people are happy to invest and save in the uk. I did hear that one of the main reasons Venezuela went down the pan, was because the president started to appropriate assets from the citizens (and this caused companies/investors to lose confidence in the country), and the rest is history. I just caught the end of the discussion on the radio, If Corbin "takes" empty houses (as he said after the Grenfill tower fire) or forces property owners to sell at government induced prices, we will lose our place as a safe law abiding country, and like virginity once we have lost that confidence, hard to get back, and then I can see our economy really going down the pan.

 

[yellow belly]

if I had land that may become houses I would not develop it under the labour system would just wait till they were deelected at the following election

their idea would disincentivise landowners from applying for development if it is only worth agricultural value why build when it could be worth more in the future

 

[Brisel]

That assumes that the law is repealed with a change in government, which doesn't happen very often. The developers are keen on this idea & the Tories are exploring this too, having been lobbied by the developers, unsurprisingly There was talk of compulsory purchase if it was "in the interest of the country" which just suits the developers nicely. See what they did with HS2 land grabbing for the enviromental offsets, not just the route of the line itself.

I despise the idea of price controls as they just artificially distort the market. If new houses are unaffordable, ease the planning restrictions so supply increases to match of exceed demand. The builders will soon wind back the construction levels to save their own margins.

 

[Hindsight]

If I were a young (or even older) person born and bred in a London borough where a two bedroom flat sells for a minimum if £500k, private rented accommodation is £1000 month and I have a London living wage salary then what is not to like about Mr Corbyns plans. After all I have little to lose. All this going on about a collapsing economy of Labour win - so what. Might concern the middle class with pension schemes. Mrs Thatcher might have been right about right to buy. She was wrong to misappropriate that cash into the national coffers and from an ideological standpoint effectively stop the building of council houses. The Tories are just inheriting her legacy - she was short term - same as the rest.

Hey ho.

 

[Clive]

Who cares what Corbyn says ? The man has no more ability to make laws that the rest of us

They also lost the last election by a very large margin

I won’t loose any sleep

 

[Bramble]

So new houses become 30% cheaper under this idea, will all housing fall by a similar amount?

Negative equity, or falling asset prices, isn’t much of a vote winner