Patient London FTB

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About Patient London FTB

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  1. No politician would ever say 'we need lower house prices' but I think the time is soon coming when they say 'we need lower rents'. That will go a long way towards destroying BTL demand, which is keeping prices elevated.
  2. No politician would ever say 'we need lower house prices' but I think the time is soon coming when they say 'we need lower rents'. That will go a long way towards destroying BTL demand, which is keeping prices elevated.
  3. You can read the comments under the piece without a Telegraph login. Some of them are perceptive. A few see the inevitability of a crash.
  4. Interesting upwards pressure on savings rates as a result of more competition in the banking market. 2% on a one-year fix from Atom Bank (FSCS protected) Looks like you'll need a smartphone.
  5. Someone on here posted a link to a flashy new Rightmove page on sold prices but I've lost the link and I can't find the page via Rightmove's site. Anyone got the link?
  6. Like this https://www.buzzfeed.com/matthewtucker/meet-the-brits-turning-to-unconventional-housing-to-save-on?utm_term=.mkB6gMYDR#.qoz8EeVwg
  7. One for Venger in The Times' property supplement today: Article about a trend for people to build annexes to house their children when they come back home after university. Cost for a good quality annexe around £50,000. "Kevin Wotton from Ilford in Essex, built a timber lodge in his back garden for his daughter, Sophie, to live in when she finished university. 'She has just found a job, but I think it will take her five years to save for a deposit, and I'd expect her to live at the end of our garden until then,' he says." "Michael and Rebecca Harding of Horsham, West Sussex, have three young children. They decided to spend £92,000 building an annexe at the bottom of the garden rather than upsize to a larger home and face an unsustainable mortgage." "Felix Bolger, the managing director of Homelodge, a business that specialises in building annexes, says his company is constructing one annexe a week, compared to ten a year in 2011." Market participants finding a way around unaffordable rents and house prices. Adding their own housing supply. That's one landlord denied rent from a 21 year-old and one family property owner denied a buyer. It all adds up.
  8. 'Pause' ... Classic. And some warped thinking going on here; "In the medium-term, foreign investors looking for a rental yield are likely to face an attractive prospect. Weak real income growth and higher unemployment will reduce the ability to get mortgages, propping up rental demand," said Oliver Jones, economist at Fathom Consulting. Yeah, because when you're unemployed you definitely don't need to save money on rent.
  9. I posted it in the spirit of showing that the amount of new money created by housing transactions over the past five years is lower than you'd think.
  10. I came across this stat in Savills' latest research, published today: "Outstanding levels of mortgage debt have risen by just 10% (£120 billion) over the past five years. By contrast, the level of privately held housing equity has risen by a chunky 49% in the same period."