From the days of rent controls in the 80's through to the financial crash, we saw wave after wave of government incentives to get people investing in property. This had the dual benefit that it provided housing to replace that which was being lost from the social sector whilst also pushing up house prices which made the majority of voters feel richer (and thus, in theory, encouraged them to say thankyou when they went to the polling booth).
However, the tide has now turned - the proportion of voters disgruntled that they cannot get on the housing ladder has grown to a size where governments of all colours have realised that ever increasing house prices may have worked once but is not a recipe for success anymore. The Labour party talk about re-introducing rent controls and this week, Conservative MP Neil O'Brien writing for Onward (a centre-right think tank) argued that the crackdown on landlords has not gone far enough and mortgage interest relief should be scrapped altogether and that there should be further reforms to property taxes.
Locally, we see block after block of student housing going up - you cannot blame the developers, no other development type avoids council tax, business rates and section 106 CIL obligations - but do we really need so many?
Against this backdrop, it is not surprising that some of our older members are having second thoughts about whether to continue with student accommodation or not - whilst they have had a reasonable income over the years from the service they provide, it is now getting harder and harder for them to manage their properties in the way they always have done. I asked one such couple to give me their thoughts.....