Paying above the going rate because you chose to believe anything a letting agent says
BUILD. MORE. HOMES.
Southwark Council is delaying one of the largest development sites in the borough to try and appease some NIMBYs in a crappy estate in the prime land because of an hour of sunlight, meaning that more than 800 units in one of the best locations imaginable and millions in developer fees are being held up, and still has the audacity to try and pull stunts like this.
I’m definitely in favour of banning bidding but this’ll just result in going back to the old system where lettings agents overvalue flats and wait to reduce prices to match the market. Reverse bidding, in effect.
I think the stress of the bidding system is a good reason to ban bidding, but let’s not pretend that this is going to do _anything_ for affordability.
Southwark need to pull their finger out of their butthole and *approve new homes*. Even if it means pissing off Lord Gammon and Lady Karen the local NIMBY suburbanites. The call is coming from inside the house. You can fix it, Southwark!
Yeah when I’m unwell I too prefer to tackle the symptoms not the cause.
Bidding sucks, but how will this work in practice?
It risks triggering a kind of Dutch auction, whereby, instead of advertising a price of £100 and hoping to get £110, you start advertising a price of £130
I don’t understand it. How does this work? Bidding wars happen because there are too many renters and not enough properties, right?
If the bidding wars are banned, the agents will just start with highest price and reduce it every week till they find a renter. How would banning bidding help reduce rent?
They really need to just start building more towers, can’t build more homes outward due to nimbys?, fine, densify, densify like a Chinese city, there’s much second house wasted land and unoccupied space, really the London council needs to get an iron grip on its housing market and sort that shit out
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Paying above the going rate because you chose to believe anything a letting agent says
BUILD. MORE. HOMES.
Southwark Council is delaying one of the largest development sites in the borough to try and appease some NIMBYs in a crappy estate in the prime land because of an hour of sunlight, meaning that more than 800 units in one of the best locations imaginable and millions in developer fees are being held up, and still has the audacity to try and pull stunts like this.
I’m definitely in favour of banning bidding but this’ll just result in going back to the old system where lettings agents overvalue flats and wait to reduce prices to match the market. Reverse bidding, in effect.
I think the stress of the bidding system is a good reason to ban bidding, but let’s not pretend that this is going to do _anything_ for affordability.
Southwark need to pull their finger out of their butthole and *approve new homes*. Even if it means pissing off Lord Gammon and Lady Karen the local NIMBY suburbanites. The call is coming from inside the house. You can fix it, Southwark!
Yeah when I’m unwell I too prefer to tackle the symptoms not the cause.
Bidding sucks, but how will this work in practice?
It risks triggering a kind of Dutch auction, whereby, instead of advertising a price of £100 and hoping to get £110, you start advertising a price of £130
I don’t understand it. How does this work? Bidding wars happen because there are too many renters and not enough properties, right?
If the bidding wars are banned, the agents will just start with highest price and reduce it every week till they find a renter. How would banning bidding help reduce rent?
They really need to just start building more towers, can’t build more homes outward due to nimbys?, fine, densify, densify like a Chinese city, there’s much second house wasted land and unoccupied space, really the London council needs to get an iron grip on its housing market and sort that shit out
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