Dorking for Let!

Loosely related to my previous post, why on earth doesn't the Government do something about buy-to-let? I am talking about the people who own multiple properties.

In Dorking many properties for sale, in the town centre, are sold quickly and then re-appear on the Lettings market, nearly all of the properties in Church Street have gone this way. This means that they are unlikely to ever come on the market again. Future generations will find it very hard to actually own property in the town. It is a sad state of affairs as rental values are extortionate.

Why oh why doesn't the Government either limit the amount of properties per individual that are bought in this way or impose some tax levy on the landlords?

The individuals and corporations are making loads of money, the banks, the landlords and it also looks good on the economy as house prices continue to rise. But it is ultimately depriving people of the basic need of finding somewhere to live. I believe it is one of those classic situations where in years to come successive Governments (and most of the public) will look back and realise that it was a massive mistake in policy.

Of course, It will by then be irreversible.