NWN-18062020

Thursday, June 18, 2020 43

NEWBURY NEWS

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A Newbury News Limited publication www.newburyhomesearch.co.uk find your perfect home in west berkshire here each week in Newbury home search and online anytime at www.newburyhomesearch.co.uk

It’s fantastic at Fox Hill FOX Hill Cottage is situated in perhaps the prettiest part of the village of Upper Basildon, with many period properties nearby. It has an unusual mixture – a and a family bathroom. The dining/family room has a fitted bookcase with cupboards under, with double French doors giving access to the rear gardens and there is oak flooring throughout the ground floor

Are landlords to blame for the housing crisis?

to-let property are likely to be better off than those who have not yet been able to buy a home. Yet, that is the nature of the country we live in and it’s a consequence of a competitive free market economy (the alternative didn’t go too well in the Soviet bloc). Indeed, asserting that the buy-to- let landlords represent a transfer of wealth and money from tenants to landlords is like saying that the pub represents a transfer of wealth from drinkers to the pub landlord. Don’t get me wrong, the tax loopholes for landlords up until three or four years ago were a little too generous until these were closed by the Tories themselves. However, should the Government try to place even more burden on landlords like some are suggesting, forcing them to sell, I am certain some first-time buyers would find it cheaper to buy their first home. This is because they wouldn’t be in competition with landlords to buy the starter homes both types of buyers crave, meaning house prices would drop (simple economics would dictate that). Yet, if the supply of privately rented homes contracted at a greater rate (because landlords were selling up) than demand, this would make renting more expen- sive – again simple economics – for the vast majority of tenants who were still renting their home. Irrespective of whether property values dropped, it might take years for a tenant to save for a deposit, while for the rental properties the landlords wants to sell, the tenants only need to be given two months’ notice to leave so the property can be put on the market. So one might ask why don’t the local authorities build more council houses? n See next week’s property column for the second part of this article. Market comment by LEE FENN-TR,IPP Director of Downer & Co Lettings

ISN’T it funny that nobody boasts they are a buy-to-let landlord anymore? Roll the clock back to the early millennium and you couldn’t go to the local golf club or shop at a Waitrose without someone dropping buy-to-let into the conversation as easily and as often as the weather. Yet now, Newbury buy-to-let landlords have almost pariah status, as they place a brown paper bag over their head when they enter a letting agency, lest they be recognised as such. They can easily be recognised though, as the average age of a UK tenant is 32 years old, while the average age of a UK landlord is between 40 and 61 years. Joking aside, if it wasn’t for buy-to- let landlords, Newbury and the UK would be in a rather difficult position when it comes to housing our people. Many people believe that if you take buy-to-let landlords out of the loop of the UK property network, then it would be the land of milk and honey for first-time buyers priced out of the market. Those Newbury landlords provide those tenants with a mixture of homes to live in and using market forces, ensure the right number of homes are available. In fact, the stats show that buy-to- let landlords provide 2,789 homes for 6,151 Newbury tenants. Yet the retort from many tenant organisations would be that landlords are wealthy, middle-class people, voraciously exploiting the failing property market for their profit and greed. Of course, the demographic of an average landlord is that they tend to come from more fortunate backgrounds, with three in four of Newbury landlords aged between their late 40s to late 60s and four in 10 having a degree-level qualification. It also wouldn’t surprise anyone to learn that those who invest in buy-

modern character country house with both style and elegance and is flanked by well-maintained lawns and in one corner a raised bed vegetable garden. The property enjoys complete privacy. To one side of the front entrance drive and courtyard there is a wall to the boundary with pretty herbaceous border, large gravel parking area and a detached double garage. The accommodation comprises an entrance lobby, reception hall, sitting room, kitchen/dining room, cloakroom, study/utility room, conservatory, three bedrooms, en-suite bathroom

The gardens to the rear are very pretty and they have been well- maintained with loving care over many years. There is a greenhouse, soft fruits and a number of exotic and mature trees to the boundaries. The rear gardens are approximately 70 foot in depth and attract the sun all day long and have a stone-paved summer dining area. The guide price is £875,000. For more details, call (0118) 984 2662 or email info@ singletonanddaughter.co.uk

Family home has got the lot THIS absolutely stunning four/five-bedroom extended semi-detached house is perfectly positioned in Bartlemy Road, Newbury, and boasts a large south-facing rear garden. The property has been finished to a high standadr and the accommodation comprises an entrance hall, cloakroom, living room, extended kitchen/dining room with bi-fold doors opening onto a decked area. On the first floor is a master bedroom with re-fitted en-suite shower room, a double bedroom, single bedroom/study, family bathroom and two further bedrooms to the top floor with good eaves storage. The guide price is £525,000. For more details, call (01635) 523777 or visit www.downer.co.uk Newbury’s Van & Truck Hire Specialists Make the smart move, call 01635 552200 smart hire vehicle rental CARS VANS MINIBUSES TRUCKS www.SmarthireVehicleRental.co.uk

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