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John Jones
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Care is needed here, because when all's said and done this is a demand from vested interests who want legislation and funding for their own reasons. Of particular concern will be location. In my neck of the woods in the north, both property prices and rents have been declining since 2008, and this from a previous level which was already very low by UK standards, with two-bed Victorian flats in nice condition going for just £70K and the same property for let at around £100 p.w..: yet in real terms prices are down about 25% since then and rentals are also down a good 20% (with more and longer voids, too, as prospective tenants have a great deal of choice). In other words, there is not a shred evidence of insufficient supply in this market. In fact quite the contrary: there is serious over-supply driving prices steadily down. The last thing we need therefore is for public authorities and powerful corporate interests working hand-in-glove to start using taxpayers' money to further hammer the suppliers in a struggling private rented sector where market forces already strongly favour the tenant.
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06 June 2016 13:33 PM
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From: John Jones
06 June 2016 13:33 PM