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  1. Debt used for investment = good Debt used for consumption = bad Technically mortgages can be either of these, using one so you can move closer to work, or provide security to your family = good, using a mortgage to get a house with a snazzier kitchen = bad
  2. No you're subsidising the landlord's massive overleveraged bet on the housing market. Sorry their "investment"
  3. I believe it is due to the rise of flat sharing and the increased churn in tenants it has caused and reduction in tenant power. If you go back to 2005 there was no spareroom etc. if you wanted to rent you had to get a group together and find a vacant property, hence if LL put people off with high LA fees they'd have to eat voids. at the same time people would be signing up for longer contracts so reducing the profitability of fees. Nowadays most renting in the big cities is via flatshare through spareroom, now flatmates regularly change on a less than yearly basis and now people are switching between occupied flats so the voids are now eaten by tenants rather than landlords hence more churn = more profit and less risk from fees. A perfect example I rented in Aberdeen in 2009. professional flats (low churn) had far lower fees than the student market (high churn)
  4. Estate agents, the Uk's worst performing industry: http://www.edmundconway.com/2015/02/real-estate-britains-most-disappointing-industry/
  5. Apologies double checked and you were right, I was out of date there has been a sizeable shift since 2015.
  6. You can't extrapolate from the live data unfortunately. Gas plants, as they are so quick to bring on line, provide peak capacity so they only operate in periods of high demand (like now, evening in winter). Coal on the other hand is difficult to vary it's output hence it is primarily a baseload provider and hence typically produces at capacity all year round, so though a low percentage at the moment it would have been far higher all through summer. No new gas plants have been built since about 2012 I think, and no shale gas in the UK (yet) and none of the USA export LNG plants are on-stream yet so they can't export (again yet) so the only UK impact as you correctly state is the drop in coal price, which George Osborne did clearly protect us from (one good thing he did to his credit). As soon as the US LNG plants come on stream you'll see the global price of gas equalise which in turn will switch some US coal capacity back on as it becomes better to export shale gas rather than burning it domestically at next to nothing prices, while turning European coal capacity back off.
  7. The UK still produces around 1/3Rd of its electricity from coal. Globally the percentage is far higher. Switching from coal to oil or gas gets you a 10% or 60% carbon saving respectively. Shale gas has been a massive boon to the world's environment by singlehandedly dropping US emissions for the first time ever. Just a shame all that coal has come over to Europe to be burnt due to the madness of turning off German nuclear. Nice to see the trillions Europe has spent on environmental measures versus America have paid off in our emissions increasing compared to Americas currently dropping. Ergo high oil prices = bad for the environment.
  8. Oh that's not too bad then. However how is anyone to know if they are just letting a room or the whole flat? Easy enough for landlord to say they are living there while actually living partner's house etc. Most airBnB's will give monthly discounts of around 50% for long term stays, as it's in their interest to minimise voids and keep good visitors. However if landlords only have a maximum of 90 days to let then there will be no such incentive for them to give long term stay discounts. Did they actually convert housing to hotels? I'd heard the direction was all the other way of office blocks to flats etc. Though we all want the property market to get back to a sane market we have to appreciate it has to cater for numerous different needs, sure most of us will want a good family home at some stage but there still needs to be provision for long term and short term renters for whom owning (regardless of price) isn't the best option.
  9. Kind of sad about this actually. All this year I've been doing 6-8 week secondments all around the country, moving around so regularly makes normal renting impossible but it's too long to stay in hotels for without wanting to kill yourself. Airbnb has been absolutely brilliant for finding good cheap accommodation but 90 day limits such as this would prevent it from catering for the short term contractor market
  10. This flat is also listed on rightmove for a timeshare type deal. Came up on one of my searches. so obviously desperate to sell anyway possible.
  11. You're not in Wandsworth are you? I got the same response. Absolute rubbish, having rented in Scotland since the changes, the system is greatly improved and I didn't notice any increase in rents. Do I have any choice over the agent I use? Does the agent work in my interest? No! so why the hell should I pay them. the very fact they've ramped up these fees is because they know the market can't support any further rent rises unless they bring them in by the back door.
  12. Scotland has seen large hpi as well despite static population. supply and demand have almost nothing to do with UK house prices, it's just one giant debt bubble.
  13. The riverside of Pimlico and chelsea has just as bad transport links and yet still manages to support far higher valuations. A river view is worth a lot.
  14. I had little luck negotiating with existing landlord. But the rents on empty properties advertised with Eas seem to be falling fast. Think some LLs are still relying on inertia and high letting fees to hold their tenants hostage, however once the rent falls break that limit then expect interesting times ahead.
  15. 8% yield expectation is too high, especially given how irrational bits are when it comes to housing. 4% for London is more realistic (currently at 2% I think?) so 300 months rent.