From April 2014, many landlords are set to face hefty tax bills following George Osborne's Autumn Statement announcing a rise in capital gains tax (CGT). At present, the last three years of a rented property's capital growth is exempt from tax once sold, if the landlord once lived in it. After April this will be halved to just 18 months.
When I moved into my current rented flat in Forest Hill the area was reasonably cheap and had no coffee shops. Now, seven years later, it has at least five coffee shops, a deli and several boutiques. On top of that it's also on the East London Line on the overground. All of this has pushed rents up by over 50%.
Aspiring to own is as much a part of our national DNA as tea, obsessing about the weather or losing on penalties. It's ingrained in our cultural psyche as a right rather than a hope but, with such a massive portion of the population renting and ownership in decline, isn't it time we learned to think differently?
Living situations are one of the most important and impacting factors for students, and the hardest to get right. Most of my friends have either found that perfect living partnership, or its been disastrous from beginning to end. I belong to the latter party, the one who's dreams never seem to come true.