Why Tinkering with Pensions is Driving More People to Buy to Let

I see property expert Beeney was in the London Evening Standard yesterday saying that London house prices are due to fall heavily.
I agree they will fall, but I don’t think the fall will be too heavy – however after a recent strong rise, a pause for breath is well overdue in the capital.
But remember house price growth is very patchy and prices in many areas of the North and Midlands have fallen over the last 6 months.
The fact is that national house price stats have been skewed by massive rises in posh parts of London (driven by an unholy mixture of city money and the ill gotten gains from non UK domiciled overseas nationals attracted by our very lax tax regime)
Northern Ireland has also done well for reasons of “catch up” and a delayed impact of the peace dividend.
However, whether house prices rise or fall, in the long run this country is becoming more divided between rich and poor – and between house owners and tenants.
I predicted last year at the Property Investor Show that by 2026 half of all properties will be rented or second homes -and I still believe it.
That prediction got me a lot of press - and some stick, but let’s see shall we.I see one big lender has recently made a similar prediction.
If it happens, this will take us back to a mix of home tenure not seen in the UK since the late 1940s because without any change in the tax regime, buy to let will definitely continue to grow as a proportion of the housing stock.

Pensions and Property
Of course, Gordon Brown and the big cheeses at companies who make the decisions on company pension funds are doing their best to make traditional pension fund investment more unpopular than ever (and hence driving more people to buy to let).
And half the time, the poor pension saver doesn’t even notice what’s happening.
After all, there has only recently been a big storm about GB’s decision 10 years ago on the pension tax credit.
But there is more too - if you have a traditional pension I would strongly urge you to read Rob Budden’s excellent piece in last Saturday’s FT. It’s an eye opener that few people who are toiling away and putting money in their pension will be aware of!
http://www.ft.com/cms/s/13d3413c-ef56-11db-a64e-000b5df10621.html
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