Patient London FTB

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Everything posted by Patient London FTB

  1. Homebuyers Bag a Bargain as a Record Number of Sales Go through at Less Than Asking Price http://www.naea.co.uk/lobbying/housing-market-reports/
  2. Btl Scum Regrouping And On The Offensive. -- Merged

    So much for the just raise the rents innit strategy ... Rent rises continued to slow in 2017, hitting £895 at the end of the last quarter, up 1.5% annually. This compared with 2.4% a year ago. Tenant demand is also growing more slowly too. Just 5% more landlords reported rising tenant demand than those reporting it fall, the lowest balance in at least five years. Kent Reliance’s lending data shows that in the first three quarters of 2017, seven in ten buy-to-let applications for house purchase were via limited companies, up from 45% in 2016 as a whole. http://www.propertyindustryeye.com/the-end-of-the-amateur-landlord-growth-of-private-rental-houses-has-slowed-despite-reaching-record-values/
  3. Buy To Let Finance Watch

    Another factor is the hike reduces the amount new BTL buyers are willing to pay for your property, and by extension hits your lender's valuation of your property and chips away at your LTV.
  4. Reduced For 1 Day Only....

    lol just under the stamp duty 'saving' threshold, so they're trying to whip up some competitive bidding from FTBs
  5. The Death of London

    Newer data here, for the following quarter, directly from the rail regulator. London and South East journeys down 4.5% year on year in the most recent quarter!
  6. The Death of London

    Good call. I'd add a couple of other things to watch. 1) High rents in London will eventually discourage graduates from coming from the rest of the UK to London to work. It seems rents in London have just about peaked now. 2) The stamp duty exemption for first-time buyers will also provide another incentive for young people to stay away from London. Their deposit will go further. 3) Clustering. Once enough people have left London to find a better cost of living / qualify of life balance, their friends will follow them.
  7. Buy To Let Finance Watch

    Aye. I saw it earlier (not on HPC) and clicked through expecting to be enraged by lenders' duplicity, but it was a big ball of 'meh'.
  8. London House prices are being battered !!!

    Could the South East be in more trouble than London?
  9. Is Prime London Crashing? - Merged Threads

    Hey I never said it was fair value :-) ... just a lot lower than the seller aimed for and reflective of prices falls really starting to get underway. The property in your link is currently on the market for £1.095m and looks like a BTLer is trying to get out. Internal condition looks average from the pictures too.
  10. Is Prime London Crashing? - Merged Threads

    Yes, freehold. Here's an old particulars doc for the details. It shows an asking price of £1.1m but it originally went on for £1.275m.
  11. Is Prime London Crashing? - Merged Threads

    Just realised a two-bed house near me that went on the market for £1.275m in May 2016 has been confirmed on the Land Registry as sold for £925,000 in Sep 2017. Was in very good condition internally, zone 1, small garden. It's on.
  12. Btl Scum Regrouping And On The Offensive. -- Merged

    Just spent a few minutes browsing the 'Landlord Investor' magazine linked to in the post above. Came across something from the June 2016 issue that I've clipped below - anyone got a view on how legit it is and how HMRC would treat it?
  13. Is Prime London Crashing? - Merged Threads

    Got a great deal - picked up two for £1.8m
  14. Is Prime London Crashing? - Merged Threads

    That's one of the developments that featured in this investor seminar I went to in early September.
  15. Is Prime London Crashing? - Merged Threads

    Last time I checked I think they closed their short sometime this month
  16. Should be called the 'estate agent desperation to get instructions in a slow market' index
  17. £40,000 bed in a shed!

    Ditto
  18. Foxtons Share Price And The Housing Market - Merged

    Anyone have any expertise/opinion on how easy/expensive it would be for Foxtons to slim down a few of its branches? Not in terms of people, but of office space.
  19. Updating Bankside's post with the last two results: Date / number of lots offered / percentage sold / proceeds Tuesday, 10 October 2017 287 67% £23,112,800 Monday, 11 September 2017 152 64% £23,053,300 Tuesday, 25 July 2017 200 61% £20,506,500 Tuesday, 20 June 2017 212 69% £28,889,350 Tuesday, 16 May 2017 218 73% £25,716,500 Monday, 10 April 2017 200 74% £29,129,700 Monday, 13 March 2017 198 75% £21,043,250
  20. Is Everyone Flying ?

    This flight thing, any chance it's linked to the increasing awareness of how bad pollution in London is for kids?
  21. Foxtons Share Price And The Housing Market - Merged

    Lol Foxtons touched 70p today then ended the day lower than yesterday's close
  22. Foxtons Share Price And The Housing Market - Merged

    Maybe more to do with traders short covering?
  23. Is Prime London Crashing? - Merged Threads

    Check out the big loss on this luxury newbuild (data taken from houseprices.io, which was built by @evictee) It doesn't look like a big loss but you have to take into account the stamp duty due in 2015 of £107,550. We don't know who paid that and we don't know who paid the stamp duty due on the 2017 transaction, but here's a stab at calculating the loss in some of the possible scenarios of who paid what: 1) 2015 buyer paid the stamp duty in 2015 but did not have to make any contribution to their buyer's stamp duty in 2017. Loss of £100,000. 2) 2015 buyer paid the stamp duty in 2015 and when they sold in 2017 they paid a quarter of the buyer's stamp duty. Loss of £126,877. 3) 2015 buyer paid no stamp duty in 2015 because they got a good deal from the developer and did not have to make any contribution to their buyer's stamp duty in 2017. Gain of £8,000. If you want to add in the possibly of more losses if the seller is an overseas investor, consider that the pound fell roughly 15% against the dollar in between the two transaction dates.
  24. Foxtons Share Price And The Housing Market - Merged

    Foxtons up 5% today to 69p, not clear why.
  25. Countdown to leveraged BTL going bust thread

    JJ - I would wait to see the detail on the stuff announced at the Tory conference, but as well as the extension on HTB there was some stuff announced by Sajid Javid on better rights for renters. Two aspects taken from The Sun's write-up below, don't think either have been given likely intro timescales yet: all landlords will have to become members of a redress scheme – to give tenants “quick and easy” access to essential repairs the Government will require all letting agents to be regulated and look at giving tenants a “Housing Court” to take on rogue landlords Have you got the possible November base rate rise in there as well?