Taylor Wimpey making nearly as much profit as Persimmon (£811 m)

“… The strong results came a day after rival Persimmon reported a £1.09bn profit for last year, the biggest ever made by a UK housebuilder. For every home sold, Persimmon made a profit of £66,265, compared with £53,073 at Taylor Wimpey.

Housebuilders have profited hugely over the past five years from the taxpayer funded help-to buy-scheme, which allows buyers to put down a deposit of as little as 5% on a new build home, while the government lends the buyer up to 20% of the value of the property (40% in London), interest free for the first five years.

More than a third of the homes sold by Taylor Wimpey last year were through the scheme, at 36%, although this was less than the 43% in 2017. The average price of a private home sold by the company was £302,000 – up 2% – while the overall average selling price, including social housing, was flat at £264,000.

Taylor Wimpey’s profits have trebled since the beginning of help-to-buy in 2013. It defended use of the scheme, noting that 77% of sales made through it were to first-time-buyers.

Greg Beales, campaign director at Shelter, said: “Taylor Wimpey joins Persimmon as the next developer making massive profits funded by taxpayer cash whilst doing very little to address the housing crisis in this country….”

https://www.theguardian.com/business/2019/feb/27/taylor-wimpey-reports-811m-in-profits-boosted-by-help-to-buy

Large part of Seaton now in Branscombe and Beer electoral district!

Beer and Branscombe

Previous Beer and Branscombe District wards combined with part of the previous Seaton District ward. New part is called Beer Road.

Properties moved from Seaton to the Beer Road register:

Alleyn Court
Beer Hill
Part of Beer Road (53 properties)
Part of Castle Hill (10 properties)
Durley Road
Part of Fremington Road (18 properties)
Highcliffe Close
Highcliffe Crescent
Part of Marlpit Lane (19 properties)
Previous Beer Road
Paddock Close
Wessiters
West Acres
Westcliffe Terrace

This means that western Seaton will actually be considered an adjunct to Beer and Branscombe and will NOT be represented by “Seaton” councillors and people on the same road will have different councillors depending on which part of the road they live on! And those councillors for western Seaton will have far more voters in Beer and Branscombe!

Madness …

“Rich getting richer while poor get poorer, official figures show – with ‘Brexit and benefits freeze to blame’ “

“The rich are getting richer while the poor get poorer, according to official statistics, dealing a heavy blow to Theresa May’s claim to be tackling “burning injustices”.

They showed the incomes of the richest fifth of households grew by 4.7 per cent last year – while the incomes of the poorest fifth of households fell by 1.6 per cent.

The respected Resolution Foundation thinktank blamed the controversial freeze on benefit levels, adding to problems caused by higher inflation following the Brexit referendum. …”

https://www.independent.co.uk/news/uk/politics/inequality-benefits-freeze-ons-brexit-theresa-may-labour-austerity-a8797416.html