Category Archives: Doncaster

Doncaster Property News

ANOTHER DONCASTER BUY TO LET DEAL YOU WON’T WANT TO MISS!

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WATCH as Natalie brings us another buy to let deal of the day, this time on Twigg Crescent, Armthorpe

  • 1 bedroom, cluster house.
  • On the market with Martin & Co, Doncaster – Lettings & Sales
  • Perfect for an investor or first time buyers!
  • In a highly popular location for rentals and first time buyers, only a short distance away from motorway links and five minutes drive from Doncaster town centre.

Click here to view this property – https://www.rightmove.co.uk/property…/property-66994459.html

If you would like some specialist advice from Natalie, you can call her on 07818 007152, email her at natalie@mosspm.co.uk or visit our office located at White Rose Way, Doncaster, DN4 5FT

Doncaster Property News

Press Release : Moss Properties a Proud Member of Land & New Homes Network

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Moss Properties estate agents in Doncaster has been selected by a leading national network which will help it to continue to develop its expertise in the booming land and new homes sector.

The Land and New Homes Network (LNHN) spans the UK and brings the most professional, forward thinking and trusted non-competing estate agents together to offer developers, property investors and home buyers an unparalleled service based on knowledge, experience and integrity.

Moss Properties is now in a very strong position to provide land and development consultancy to clients and a specialised new homes sales service.

Sanjay Gandhi, Director of Moss Properties said: “We were very pleased to be selected as the LNHN’s agent for Doncaster.

“It means we can deliver even better results for our clients.”

“Membership of the LNHN gives us access to national land and new homes experts who will be on hand to advise us when needed.”

“The Government has made addressing the housing shortage a priority so with thousands of new homes needed we’ve been proactive to ensure our clients will benefit from the best advice and coverage available.”

“The network’s national coverage means we have relationships with builders, developers, investors and estate agents from across the UK. This is good for anyone selling land or new homes with us, as it increases the amount of potential buyers enormously.”

“And it means more choice and better quality for local people looking to buy a new home.”

Ian Stratford, Land and New Homes Network’s Managing Director, said: “We are really looking forward to working together with Moss Properties.”

“They are exactly the type of agency we want as part of the network. They were selected for their professionalism, experience and their focus on delivering results for clients.”

If you own land or a property that you think might have development potential please call Sanjay Gandhi, Director on 07533 595 595 for a confidential conversation.

Or if you are interested in buying a new home please contact Frances Bowling on 07896 988 366.

Doncaster Property News

Doncaster Tenant’s Deposits held total £4,537,841

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With the Government preparing to control tenant’s deposits at five weeks rent, Doncaster landlords will soon only be protected in the event of a single month of unpaid rental-arrears, at a time when Universal Credit has seen some rent arrears quadrupling and that’s before you consider damage to the property or solicitor costs.

It can’t be disputed that the deposits Doncaster tenants have to save for, certainly raises the cost of renting, putting another nail in the coffin of the dream of home ownership for many Doncaster renters whilst at the same time, those same deposits being unable to provide Doncaster landlords with a decent level of protection against unpaid rent or damage to the property.

In fact, the total of all the tenants’ deposits in

Doncaster, deposited or protected, is £4,537,841

When you consider the value of all the privately rented properties in Doncaster total £1,314,812,068, the need for decent landlord insurance to ensure you are adequately covered as a Doncaster landlord is vital.

However, I want to consider the point of view of the Doncaster tenant.  Several housing charities believe spending more than a third of someone’s salary on rent as exorbitant, yet for the tenants they find themselves in that very position.  I feel especially sorry for the Doncaster youngsters in their 20’s who want to rent a place for themselves, as they face having to pay out the rent and try and save for a deposit for a home.

The average 22 to 29-year-old in Doncaster spends 26% of their typical salary on a one bed rental property

….and 31% of their salary for a 2-bed home in Doncaster.

40 years ago, British people who rented spent an average of 10% of their salary on rent, and only 14% in London.  Looking in even greater detail, according to the ONS, over the past 60 years the proportion of total spending on all housing (renting and mortgages) has doubled from 9% in the late 1950’s to 18% today.  Whilst on the other hand, the proportion of total expenditure on food has halved (33% to 16%), as has the proportion of total spending on clothing (10% to 5%) … it’s a case of swings and roundabouts!

Yet landlords also face costs that need to be covered from rents including mortgages, landlord insurance (especially the need for the often-inadequate deposits to cover the loss of rent and damage), maintenance and licensing.  In fact, rents in the last 10 years have failed to keep up with UK inflation, so in real terms, landlords are worse off when it comes to their rental returns (although they have gained on the increase in Doncaster property values – but that is only realised when a property sells).

There are a small handful of Doncaster landlords selling some/or all of their rental portfolio as their portfolios become less economically viable with the recent tax changes for buy to let landlords, which will result in fewer properties available to rent.

However, this will reduce the supply and availability of Doncaster rental properties, meaning rents will rise (classic textbook supply and demand), thus landlords return and yields will rise.  Yet, because tenants still can’t afford to save the deposit for a home (as we discussed above) and we are all living longer, the demand for rental properties across Doncaster will continue to grow in the next twenty to thirty years as we turn to more European ways where the norm is to rent rather than buy in the 20’s and 30’s age range. This will mean new buy-to-let landlords will be attracted into the market, buy properties for the rental market in Doncaster and enjoy those higher yields and returns … isn’t it interesting that things mostly always go full circle?

Doncaster Property News

ANOTHER DONCASTER BUY TO LET DEAL YOU WON’T WANT TO MISS!

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WATCH as Natalie brings us another buy to let deal of the day, this time on Blake Avenue, Wheatley, Doncaster.

  • 3 bedroom, semi detached house.
  • On the market with Horton Knights, Doncaster.
  • Perfect for an investor or first time buyers!
  • ️ In a highly popular location for rentals and first time buyers, only a short distance away from motorway links and five minutes drive from Doncaster town centre.
Doncaster Property News

Doncaster Property Market – Outlook for 2019

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Doncaster property values are currently 0.9% lower than at the end of 2017, notwithstanding the uncertainty and threats over the potential impact of Brexit in 2019. This is nowhere near as bad as all the predictions (aka guesses) of all the City of London economists, in an astonishing sign of strength for the local Doncaster and wider national economy.

Nevertheless, the statistics from the Land Registry come after a lethargic year for the number of properties in Doncaster compared to the actual prices achieved for those properties.  All this against a framework of amplified political ambiguity and ensuing years of rising Doncaster property values that have reduced the affordability of homes in the locality.

 

The average value of a Doncaster property today,

currently stands at £156,175

 

Looking in finer detail, it isn’t a surprise that 3,691 property sales in Doncaster over the last 12 months is somewhat lower than the long-term average over the last 20 years of 4,748 property sales per year in Doncaster as the long-term trend of people moving less has meant a decline in the number of property transactions.

I believe locally, Doncaster property value growth will be more reserved in 2019 after two decades of weaker wage rises. One of main drivers in the demand (and thus the price people are prepared to pay for a home) is the growth of peoples wage packets. Interestingly, wage inflation over the last six months has risen from 2.4% in the late summer to its current level of 3.3% (which is higher than the average since the Millennium, which has been a modest 2.1%). One of the reasons why wages are growing in the short term is the unemployment rate in the country currently only stands at 4.1%, continuing to stay close to its lowest level since the 1970’s.

However, even though Doncaster salaries and wages are rising comparatively higher than they were last year, looking over the long term, Doncaster property values are 161.49% higher than they were in January 2002, yet average salaries are only 76.1% higher over the same time frame. This means over the last few years, with average property values so high comparative to salary/wages, many Doncaster potential buyers have been priced out of being able to purchase their first home.

At first glance, these stats are actually rather positive during this reported time of political uncertainty and the height of Brexit commotion … because I genuinely believe that to be the case. The press have always looked for the bad news (well they do say it is that that sells newspapers), and whilst I am not entering into the pros and cons of Brexit itself, the numbers do stack up quite well since the Brexit vote took place nearly 3 years ago.

Moving forward, when taken with the recent reduction in short to medium term number of property transactions (i.e. the number of Doncaster properties sold), it should be noted that a lot of the this buoyant house price increase has a lot more to do with a shortage of properties on the market rather than an uplift in the Doncaster housing market generally.

And we can’t forget that Doncaster isn’t in its own little bubble, as there are noteworthy differences across the UK in property value inflation. House prices in London and the South East have hardly risen or even fallen in some places, whilst in the Midlands, North and other parts of the country they have generally increased.

Looking forward, I would say to the homeowners and buy to let landlords of the locality that I expect Doncaster house price growth to remain stable between -0.4% and +0.6% by the end of this year (although they could dip slightly during the summer) … as long as nothing unexpected happens in the world economically or politically of course.

Doncaster Property News

Doncaster Homeowners 74% More Likely To Live in a Home with 3+ Bedrooms than those that Privately Rent

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The conventional way of categorising property in Britain is to look at the number of bedrooms rather than its size in square metres (square feet for those of you over 50!). My intuition tells me that homeowners and tenants are happy to pay for more space. It’s quite obvious, the more bedrooms a house or apartment has, the bigger the property is likely to be. And it’s not only the tangible additional bedrooms, but those properties with those additional bedrooms tend to have larger (and more) reception (living) rooms. However, if you think about it, this isn’t so surprising given that properties with more bedrooms would typically accommodate more people and therefore require larger reception rooms.

In todays Doncaster property market, the Doncaster homeowners and Doncaster landlords I talk to are always asking me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time buyers’ and tenants’ wants and needs have changed.

In Doncaster, location is still the No. 1 factor affecting the value of property, and a property in the best neighbourhoods can achieve a price almost 50% higher than a similar house in an ‘average’ area. Nevertheless, after location, the next characteristic that has a significant influence on the desirability, and thus price, of property is the number of bedrooms and the type (i.e. Detached/Semi/Terraced/Flat).

The number of bedrooms for owner-occupiers very much depends on the size of the family and the budget, whilst Doncaster landlords have to consider the investment opportunity. In this article, I have analysed Doncaster’s housing stock into bedrooms and tenure. Initially looking at Doncaster homeowners..

And now the Private rented sector …

Owner-Occupier Households in Doncaster Private Rented Households in Doncaster
1 Bed 0.98% 13.57%
2 Bed 18.51% 40.13%
3 Bed 60.31% 39.31%
4+ Bed 20.20% 6.99%

It can quite clearly be seen that Doncaster owner-occupiers tend to occupy the larger properties with more bedrooms. This would be expected due to the demographic of homeowners and people that privately rent.

However, this shows there could be opportunities for Doncaster buy to let landlords to purchase larger properties with more bedrooms to attract tenants requiring properties with more bedrooms. However, before you all go buying larger 4 bed and 5 bed mansions to rent them out, a lot of bigger properties in Doncaster don’t make financial sense when it comes to buy to let.

For numerous years Doncaster buy to let landlords have been the lone buyers at the smaller one and two bed starter homes of the market, as they have been lured by elevated tenant demand and eye-catching returns. Some Doncaster landlords believe their window of opportunity has started to close with the new tax regime for landlords, whilst it already appears to be opening wider for first time buyers. This is great news for first time buyers .. but one final note for Doncaster landlords .. all is not lost .. you can still pick up bargains, you just need to be a lot more savvy and do your homework ..one source of such information with articles like this is the Doncaster Property Market Blog http://www.doncasterpropertyblog.co.uk/

Doncaster Property News

31% of All Doncaster Properties were Bought Without a Mortgage in the Last 7 Years

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For most Doncaster people, a mortgage is the only way to buy a property. However, for some, especially Doncaster homeowners who have paid off their mortgage or Doncaster buy to let landlords, many have the choice to pay exclusively with cash. So the question is, should you use all your cash, or could a mortgage be a more suitable option?

Well, looking at the numbers locally…

8,390 of the 27,091 property sales in the last 7 years in Doncaster were made without a mortgage (i.e. 31%)

Interesting when compared with the national average of 31.9% cash purchases over the last seven years. Next, I wanted to see that cash percentage figure split down by years. As you can see from the graph, this level of cash purchases vs mortgage purchases has remained reasonably constant over those seven years…

Next, if you are going to go for a mortgage, the next question has to be whether you should fix the rate or have a variable rate mortgage. In the last Quarter, 90.57% of people that took out a mortgage, had a fixed rate mortgage at an average interest rate of 2.27%, although what did surprise me was only 65.79% of the £1.429 trillion mortgages outstanding in the whole of the UK were on a fixed rate. The level of mortgage debt compared to the value of the home itself (referred to as the Loan to Value rate – LTV) was interesting, as 61.9% of people with a mortgage have a LTV of less than 75%. Although, one number that did jump out at me was only 4.33% of mortgages are 90% and higher LTV – meaning if we do have another property slump, the number of people in negative equity will be relatively small.

Next, looking at the actual number of properties sold, it can be clearly seen the number of house sales has dipped slightly in 2018…

 

So those are the numbers … let us have a look at the pros and cons of taking a mortgage, with specific focus on Doncaster buy to let landlords.

Taking a mortgage will help a landlord increase their investment across more properties to maximise the return, rather than putting everything into one Doncaster buy to let property. This will enable the landlord to ensure if there a void in the tenancy, there should still be rent coming from the other properties. The flip side of the coin is that there is a mortgage to pay for, whether or not the property is let.

The other great motivation of taking a mortgage is that landlords can set the mortgage interest against the rental income, although that will only be at the basic rate of tax by 2021 due the recent tax changes. Banks and Building Societies will characteristically want at least a 25% deposit (meaning Doncaster landlords can only borrow up to 75%) and will assess the borrowing level based on the rental income covering the mortgage interest by a definite margin of 125%.

A lot will depend on what you, as a Doncaster landlord, hope to attain from your buy to let investment and how relaxed you would feel in making the mortgage payments when there is a void (interestingly, Direct Line calculated a few months ago that voids cost UK landlords around £3bn a year or an average of £1000 per property per year). You also have to consider that interest rates could also increase, which would eat into your profit … although that can be mitigated with fixing your interest rate (as discussed above).

So, with everything that is happening in the world, does it make sense to buy rental properties? Now we help many newbie and existing landlords work out their budgets, taking into account other costs such as agent’s fees, finance, maintenance and voids in tenancy. The bottom line is we as a country aren’t building enough property, so demand will always outstrip supply in the medium to long term, meaning property values will keep rising in the medium to long term. That’s not to say property values might fall back in the short term, like they did in 2009 Credit Crunch, the 1988 Dual MIRAS crash, the recession of the early 1980’s, the 1974 Oil Crisis, the early 1930’s Great Depression … yet every time they have bounced back with vigour. Therefore, it makes sense to focus on getting the best property that will have continuing appeal and strong tenant demand and to conclude, buy to let should be tackled as a medium to long term investment … because the wisest landlords see buy to let investment in terms of decades – not years.

Doncaster Property News

Doncaster Homeowners Have Made an Annual Profit Of £3,969 Since the Millennium

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As we go full steam ahead into 2019, it’s certain that the Doncaster housing market in 2018 was a little more restrained than 2016 and 2017 and I believe this will continue into 2019. Property ownership is a medium to long term investment so, looking at the long-term, the average Doncaster homeowner, having owned their property since the Millennium, has seen its value rise by more than 153%.

This is important, as house prices are a national obsession and tied into the health of the UK economy as a whole. The preponderance of that historical gain in Doncaster property values has come from the growth in Doncaster property values, while some of it will have been enhanced by extending, modernising or developing their Doncaster home.

Taking a look at the different property types in Doncaster, and the profit made by each type, makes interesting reading..

Average Price
Paid in 2000 in Doncaster
Average Price
Paid in 2018 in Doncaster
Average Total Profit in last 20 years in Doncaster Average Householder Profit per Year in Doncaster Average Annual % Increase in Doncaster
Detached £92,679 £263,821 £171,142 £9,508 10.2%
Semi £41,526 £118,580 £77,054 £4,281 10.4%
Terraced £22,188 £83,250 £61,062 £3,392 15.4%
Apartments £53,078 £87,490 £34,412 £1,912 3.7%
Overall Average £48,562 £119,997 £71,435 £3,969 8.5%

However, we can’t forget there has been just over 60% inflation over those 18 years, which eats into the ‘real’ value (or true spending power of that profit) … so if we take into account inflation since 2000, the true spending power of that profit has been lower.

Total ‘REAL’ Profit
After Inflation in Doncaster
‘Real’ Annual
Profit in Doncaster
Detached £104,482 £5,805
Semi £47,042 £2,613
Terraced £37,278 £2,071
Apartments £21,009 £1,167
Overall
Average
£43,611 £2,423

So the ‘real’ value of the profit, after inflation, in Doncaster has been £2,423 per year.. still nothing to sniff at.

I wanted to show you that even though we had the 2008/09 Credit Crunch property market crash where, depending on the type of Doncaster property, property values dropped between 15% and 20% in 18 months … Doncaster homeowners over the long term are still better off than those renting.

Moving forward, the question I get asked time and again is what will happen in the future to the Doncaster Property market? Irrespective of what is happening in the World, Europe or even Central London, the biggest factor over the medium to long term to ensure that this level of house price growth is maintained in Doncaster is the building of new homes both locally and in the country as a whole. Whilst we haven’t had the 2018 stats yet, Government sources suggest this will be nearer 180,000 to 190,000, a decrease from the 2017 figure of 217,350 new households being created. When you consider that we need to build 240,000 households to equal demand (immigration, people living longer, higher divorce rates and people co-habiting later in life etc) … demand will outstrip supply and unless the Government start to spend billions building council houses .. this trend will continue for years (and decades to come).

Another factor is that whilst Doncaster landlords have been hit with higher taxes to enable them to actually be a landlord most, in every national survey, still intends to increase their portfolio in the medium to long term. The youngsters of Doncaster see renting as a choice, giving them flexibility and options that being tied to a home cannot give… thus meaning demand will continue to grow and landlords will be able to enjoy increased rents and capital growth, although those very same Doncaster buy to let landlords will have to work smarter in the future to continue to make decent returns (profits) from their buy to let investments. Even with the tempering of house price inflation in Doncaster in 2018, most Doncaster buy to let landlords (and homeowners) are still sitting on a copious amount of growth from previous years.

The question is, how do you, as a Doncaster buy to let landlord, ensure that continues?

Since the 1990’s, making money from investing in buy to let property was as easy as falling off a log. Looking forward though, with all the changes in the tax regime and balance of power, making those similar levels of return in the future won’t be so easy. Over the last ten years, I have seen the role of the forward thinking agents evolve from a person collecting the rent to a more all-inclusive role; I call it, ‘strategic portfolio leadership’. Thankfully, along with myself, there are a handful of agents in Doncaster whom I would consider exemplary at this landlord portfolio strategy where they can give you a balanced structured overview of your short, medium and long-term goals, in relation to your required return on investment, yield and capital growth requirements. If you would like such advice, speak with your current agent – whether you are a landlord of ours or not – without any cost or commitment, feel free to drop me a line.

Doncaster Property News

Live in Doncaster? About to Retire and Privately Rent? You Could be £2,400 a Year Worse Off!

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You read the personal finance pages of the newspapers and it all seems to be the impending pensions crisis … where people aren’t saving enough for their retirement. But it’s not the lack of Doncaster peoples’ future pension incomes that are my immediate concern. The fact is that so many of the future retirees in Doncaster over the coming decade, who never bought their home in the Millennial years of the 1990s and 2000s, will have to make some tough decisions regarding what house they live in when they retire anytime between now and 2038.

In Doncaster, there are 1,119 privately rented households, where the head of the household is between 50 years and 64 years of age (meaning they will be retiring anytime between now and 2038). They are working now and easily paying the rent, yet what happens when they retire?

A Doncaster retired couple, who currently privately rent and who have paid their fully qualifying NI stamp over the last few decades are likely to retire with the couples State Pension of £1,091 per month plus a tiny bit of private pension if they are lucky. Given that the average rent in Doncaster is £539 a month – a lot of that pension will be lost in rent. This means taxpayers will have no alternative but to step in and top up the rent payments with Housing Benefit, yet…

The maximum housing benefit for a couple in Doncaster is currently £338.35 per month … leaving a significant gap when you consider the average rent in Doncaster is £539 per month

It is most people’s opinion that retirees are either council tenants or own their home outright. Looking at these figures though, it looks like both these ‘mature’ private renters could be having to make some decisions on their lifestyle and where they live, possibly looking at downsizing the home they rent to make things more affordable in their old age. Also, the government will be in for a horrible surprise as more of Doncaster people retire and continue to rent from a private landlord. Numerous Doncaster private renters, with little or no savings, will have to rely on Housing Benefit, which will put greater pressure on the public purse.

The average Doncaster retiree will need to find £2,408 pa to stay in their privately rented home after retirement

A recent report from Scottish Widows suggested that 1 in 8 OAP’s will be privately renting by 2032, up from the current one in 15.47 OAP’s whom currently private rent (or 6.47%). In fact, in that report they said the equivalent of more than one-third of the whole annual NHS budget would be spent on Housing Benefit for OAP’s in retirement living in private rented property.

What does this mean for mature Doncaster homeowners? I see many using equity release schemes to stay in their homes to pay for a better retirement and others more open to downsizing, selling their large home to a family that needs it and moving into a smaller apartment or bungalow … yet lets be frank – they aren’t building bungalows in large numbers in Doncaster anymore.

And for the Doncaster landlords? Well with the younger Millennials showing no appetite in jumping onto the homeownership bandwagon anytime soon, it can only result in the demands on the buy to let market from Doncaster tenants rising substantially. Of course, many Millennials will inherit money from their home owning parents in the coming few decades, yet a lot won’t as it will be spent on nursing home care and any leftovers (if any) split between siblings.

For those retiring in post 2050/2060, there is better news as official reports suggest those retirees will enjoy a State Pension approximately similar to today’s pensioners with auto-enrolment into top-up private pensions through their employer.

The solution to all this is to build more homes, of course. Last year we created/built just over 217,000 households in the UK, up from a post Millennial average of just under 150,000 households a year. We need to get back to the building booms of the late 1960’s and early 1970’s when on average 300,000 households were built … but back to reality … that won’t happen so it looks like we are turning into a nation of renters, which is of course good news for Doncaster’s buy to let landlords!

Doncaster Property News

As OAP’s set to rise to 1 in 4 of Doncaster’s population by 2037 – Where are they all going to live?

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With constant advances in technology, medicine and lifestyles, people in the Doncaster area are, on average, living longer than they might have a few decades ago. As Doncaster’s population ages, the problem of how the older generation are accommodated is starting to emerge. We, as a town, have to consider how we supply decent and appropriate accommodation for Doncaster’s growing older generation’s accommodation needs while still offering a lifestyle that is both modern and desirable.

 

In 1997 in Doncaster, around one in every six people (16%) were aged 65 years and over (and the local authority area as a whole), increasing to around one in every five people (19%) in 2017 and it is projected to reach one in every four people (25%) by 2037, meaning..

 

Over the next 19 years, the growth of the over 65 population in Doncaster will grow by 31.6% – a lot more than the overall growth population of Doncaster of 2.4% over the same time frame.

 

In fact, the number of those over 90 is expected to nearly double in our local authority from 2,482 (0.8%) in 2017 to 4,781 (1.5%) by 2037.

And looking at the proportional percentage changes over those years..

 

Age group percentage of the Doncaster Metropolitan Borough Council – 1997 to 2017 and 2017 to 2037
Percentage Change from 1997 to 2017 Percentage Change from 2017 to 2037
Under 16 -13.64% -10.53%
16 to 64 -1.59% -6.45%
65 and Over 18.75% 31.58%

 

Looking at Doncaster and the local authority as a whole, there is a distinct under supply of bungalows and retirement living (i.e. sheltered) accommodation. The majority of sheltered accommodation fit for retirement is in the ex-local authority sector whilst the majority of private sector bungalows were built in the 1960s/70s/80s and are beginning to show their age (although that means there is often an opportunity for Doncaster investors and Doncaster buy to let landlords to buy a tired bungalow, do it up and flip it/rent it out).

In the medium to longer term, we need to build more bungalows and sheltered accommodation and, if we do that, that won’t only be of benefit to the elderly population of Doncaster – it will have a direct knock-on effect to the younger and middle-aged population by unlocking those family homes the older generation homeowners live in.

There have been 17 Housing Ministers since 1997. No one ever seems to stay in the job long enough to create a consensus and direction in Government Policy on the vital issue of the country’s housing shortage, yet the sound bites and White Papers seem only to focus exclusively on first-time buyers when there is an even more severe and disregarded shortage in suitable housing for the older generation.

 

This scantiness affects both mature homeowners trapped in unsuitably big family properties, unable to find smaller bungalows or suitable retirement apartments, whilst the waiting list for Council sheltered accommodation is putting a strain on other aspects of social care. In both circumstances, policy coming (or not coming) out of Government is repressing the supply and type of accommodation mature people desire, need and want, whilst at the same time, increasing the cost (and taxes) for social and NHS care.

 

Maybe we need tax breaks for people to downsize or planning permissions that stipulate bungalows only. Whichever way you look .. there are challenging times ahead for us all.