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Is Southwark Council moving out Londoners with new luxury housing developments?

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Wednesday 2 April 2014 3.51pm
DavidS wrote:
rosepetal wrote:
DavidS wrote:
Alternatively, within central London, the council tax could be doubled, tripled whatever - with a corresponding tax credit being applied for providing some sort of proof that you were in the area each quarter.
when you say council tax, you do just mean for the luxury buildings, yeah?
cause council tax is high enough in the littler buildings as is!

No, I meant for every building - but a corresponding tax credit being applied would mean that the actual amount that we have to pay does not increase, as we can all provide proof that we are actually living in the area.

The actual amount paid by people living in the luxury buildings would also not increase - but foreign investors who decide to leave their properties empty would either have to make regular trips to London or face a 1-2% loss of profit (which, on paper, would be enough to make other investments more appealing)
ah, okay, that makes sense now
Wednesday 2 April 2014 3.58pm
Also, remove non-domicile tax breaks and also charge capital gains on second homes. If they don't live in the property as their primary main home then tax them. No deed transfer until they pay up!

If we buy and sell homes we become traders, and will get taxed as traders. And we only get a break for a main home. Who knows - maybe some foreign tax authorities will be collecting gains instead of ours!!

I'm not against good high rise buildings - so if I could build a 60 floor tower and get 20 floors for free to house Londoners then I might think about it. And if the other 40 floors are left empty then that's less demand on the area e.g. doctors, schools etc. There was lots of empty flats around Canary Wharf on last Census day 2011. 14% in some areas.

But I get very p***ed off when we have to build over open and green spaces to rehouse Londoners who have been forced from their homes to make way for market / investment sales. And that is where the whole thing is getting really sick.

Each new home gets c.£6,000 new homes bonus for c.6 years + £350, which a desperate Council loves to have. Every 1000 is £6M yearly and enough for another election "pledge"! Long Term it's not so hot. But they are not long term nowadays.

Lib Dems must be sooooo furious! Southwark Labour using all the New Homes Bonus money to buy another 4 years!!
Thursday 3 April 2014 8.26am
Excuse my ignorance here but does having all these luxury new builds in my neighbourhood increase my Council Tax? It annoys me so much that even though I live in social housing with no right to buy, my council tax will increase because of the new luxury property being built a few doors down !! In no shape or form do I benefit from this, if fact , quite the opposite.

And what exactly is affordable about a one bed at 350k

It appears that every available space in and around the Borough is being used for new builds be it student accommodation or these luxury flats.
Thursday 3 April 2014 9.40pm
AntBorough wrote:
Excuse my ignorance here but does having all these luxury new builds in my neighbourhood increase my Council Tax? It annoys me so much that even though I live in social housing with no right to buy, my council tax will increase because of the new luxury property being built a few doors down !! In no shape or form do I benefit from this, if fact , quite the opposite.
And what exactly is affordable about a one bed at 350k

It appears that every available space in and around the Borough is being used for new builds be it student accommodation or these luxury flats.
not quite sure how any new build however luxurious would impact on anyone else's council tax? in southwark council tax is relatively low and has been that way for a good while now
Friday 4 April 2014 3.11pm
I thought that local property prices are used when calculating Council Tax banding. So if the area has lots of spanking new expensive flats then although that increases property prices in the area, in turn it also increases your council tax banding. The more your property is worth the higher the council tax band. Great if you own property, but when in social housing with no right to buy, you dont benefit from increased house prices , you just get an increased banding! Isn't this how it works? Maybe I am wrong.
Friday 4 April 2014 11.05pm
An awful lot being said here about foreign (Chinese) investors buying up property as a safe haven for their money and leaving the said property empty. I don't recall the same kind of disapproval of Brits buying homes in say, France and Spain only going there on holiday or Londoners buying second homes in Cornwall, Wales and Suffolk. It's no different people, this isn't something very new ...what is new is that London is now seen as a good property investment bet.
Saturday 5 April 2014 1.25am
boroughpaul wrote:
An awful lot being said here about foreign (Chinese) investors buying up property as a safe haven for their money and leaving the said property empty. I don't recall the same kind of disapproval of Brits buying homes in say, France and Spain only going there on holiday or Londoners buying second homes in Cornwall, Wales and Suffolk. It's no different people, this isn't something very new ...what is new is that London is now seen as a good property investment bet.

Oh, but I do think it's different. As far as I know, the French and Spanish didn't start building like mad in Paris, Madrid or Barcelona to accommodate British ex-pats for example.
Saturday 5 April 2014 6.53am
True, but look at the costas...I am not saying the parallel is exact but it does seem a little hypocritical for Brits and Londoners in particular to complain about absentee owners when you consider the number of villages in desirable parts of Britain that have plenty of empty properties occupied only briefly during weekends and holiday periods. This has pushed up prices making home ownership unaffordable for most locals. What goes around comes around...
Saturday 5 April 2014 9.52am
well. it is front page of Daily Mail online this morning.

boroughpaul makes good point however seoond homes owned by UK residents are taxed and holiday lets need planning permission. If we had SE1 or SE16 village councils then maybe the taxes would be collected and the property uses regulated better.

As it is, this is all just collateral damaged for the dogma of some of the nuts who comprise our planning committee.

Not an expert on China, thought I'd see if I can buy a home there and...

"Foreigners need to have worked or studied in China for more than one year to buy a property in China.
Residential land is usually leased for 70 years."

Not as foolish as we are. Straightaway, I would expect reciprocity.

I've not been to Spain for ages, but last I read the property boom had bust leaving about 1 million flats empty that Spanish citizens were taking over. Helping to increase housing for the poor.

France has Habitations à loyer modéréin addition to other public housing. Nice note about corruption on the wikipage.

With some Wards, like mine, nearly 50% born in a country other than UK there is a serious situation for Londoners and their families who went to school and grew up around here. Including London Chinese.

One solution is to build appropriate sustainable taller buildings FOR ALL, then offer "free" swimming for a whole to cheer everyone up, but some of the tall buildings being built are awful, and now they want to infill open spaces on and around Estates too.

So it's not just the Russians or Chinese etc who are a problem, it is also our own Council and their arrogant approach to planning and development.
Monday 7 April 2014 5.18pm
Thank you hhrca for this information. I think we should get a few "indignants" over here from Spain to help us become less meek and docile in the face of outrageous decisions by our arrogant Southwark Council.
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