JTaylor

Good move by George. The missus and I stand to save a large chunk on our imminent house purchase.

cookstar

iTrader: (6)

Me to.

Dingdongler

Excellent news, especially for first time buyers looking to buy at around the £250-500k level.

Hopefully Tony will be pleased by this.

cookstar

iTrader: (6)

A lot of £249'999 houses wlll suddenly become £270'000..

JTaylor

Yes, the missus said the same.

hodgy0_2

But bad news for the guy who's buying my father in laws house for 6.3 million lol

JTaylor

George spreading the wealth, who'd have thought it!?

hodgy0_2

Yep, totally agree, good move imho

Don't agree with much the Tories do, but this is pretty good

Even though I have a big financial interest in London property prices

Dingdongler

Then it really is a progressive tax. Most people pay less and the very rich pay more. As my mate George always says, we are all in it together

Dingdongler

It's more than that. If somebody can now sell what was worth 250k for 270k they will then be able to pay an extra 20k + leverage for their next home. So in other words all properties will rise in value.

Whether you think this is a good thing or not is a matter of opinion of course.

Matteeboy

Where's that?

I think my uncles place in St George's Hill is a similar value. The place in Salcombe isn't miles off.

A place in Rock went on for £4m a while back; sold a week later for £6.5m.

Actual madness.

legb4rsk

If you have that kind of money I don't think you give a f**k.

f1_fan

iTrader: (9)

A good move by Osborne, pity about the deficit, lack of real jobs, falling income tax revenues, welfare spending increasing etc. etc. No doubt it won't stop the 'I'm alright's voting for them though!

tony de wonderful

My thoughts are that it can only stoke the market at these lower levels since entering the market will require even less capital.

Dingdongler

Hmm, everything above £1million starts to feel it and above 1.5 million it will get painful. That's an awful lot of houses/flats in London.

The reforms will theoretically help people to get on the ladder but will slow the market in the 1-1.5 million region. So won't we have a bottleneck? If the person with a 750k house is discouraged from moving to a 1.5 million house won't that effect all properties below?

I suppose much above 2 million it's all about the very wealthy and very high earners so perhaps the new rates won't have so much effect.

Interesting....

ditchmyster

iTrader: (7)

I'd say if you can afford a 1/1.5 million plus pad you aren't doing too badly in the greater scheme of things, even more so for the 2/6 million bracket. It's about time they did something for the vast majority as opposed to constantly giving to the already reasonably well off.

hodgy0_2

Indeed, the guy is apparently buying it for his ex wife

But wealthy people are often pretty careful with the pennies, so this has to smart

Dingdongler

I agree about the 2million plus bracket. However in London the 1/1.5million group are still very much cost conscious.

But I agree that this reform helps the many and makes the few pay more so it has to be a good thing.

My fear is fiscal drag. In fifteen years time there may not be a three bed house left in London that isn't close to a million squids

ditchmyster

iTrader: (7)

Yeah I wish I could move my 3 bed detached with double garage to Central London the garage alone would make me a fortune.

f1_fan

iTrader: (9)

I don't, it's a sh1thole and there is a lot more to life than living somewhere where you can brag about the value of your house!

ditchmyster

iTrader: (7)

I would'nt live there for all the tea in China, I'd just move the house and flog it.

f1_fan

iTrader: (9)

To some d1ckhead who thinks it's the be all and ened all... there are few of those on SN

Matteeboy

It seems to be all many people can talk about. I guess it saves having to have a personality.

ditchmyster

iTrader: (7)

Pretty much, but I didn't want to offend anyone.

Carnut

Like you talking about your rich family, oh and hows your successful business, planning any more trips round Europe you would like to tell us about.

New money (ish)

Matteeboy

Only in your tiny, twisted and bitter little mind do any of the above have ANYTHING to do with being a house price bore...

Dingdongler

Yes, we all hate bores who talk about house prices. Especially ones who mention that their Uncle has a house worth £6 million.

Matteeboy

Pot
Kettle
Black

My uncle isn't me is he? He's someome I'm distantly related to.

alcazar

iTrader: (2)

And you forgot the holes in the tax budget caused by over-greedy taxation of fuel, alcohol, **** etc.

Dingdongler

You've also mentioned that you are looking to 'buy a house outright', that would strongly imply a very large pot of cash. Genuinely, good for you, I'm sure you've worked hard for it.

But it's hilarious that you try and take a swing at others for something you are one of the worst offenders for.