Patient London FTB

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Everything posted by Patient London FTB

  1. London House prices are being battered !!!

    Could the South East be in more trouble than London?
  2. 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.
  3. 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.
  4. 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.
  5. 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?
  6. Is Prime London Crashing? - Merged Threads

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

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

    Last time I checked I think they closed their short sometime this month
  9. Should be called the 'estate agent desperation to get instructions in a slow market' index
  10. £40,000 bed in a shed!

    Ditto
  11. 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.
  12. 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
  13. Is Everyone Flying ?

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

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

    Maybe more to do with traders short covering?
  16. 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.
  17. Foxtons Share Price And The Housing Market - Merged

    Foxtons up 5% today to 69p, not clear why.
  18. 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?
  19. are we sure that rate rise is cancelled?
  20. Help to "Buy" (Sell) to be pumped up

    Labour pretty much have the Tories where they want them. I suspect they put HTB in their manifesto to outflank the Tories and trick them into extending HTB, making them look to younger people like they're working in the housebuilders' interests. Labour also know they just need to wait and sooner or later the London housing market will go off the edge, losing the Tories a lot of votes. They can blame a crash on seven years of Tory decisions. And if the Tories try to bail out the market Labour can scream that it's another bail out for bankers. This is of course rather cynical, which is why the biggest chance of Labour missing the open goal in front of them is that they push to hard and voters start to believe the party would be happy to see the economy crash to get into power. That's why the Tories are jumping up and down about the danger of Corbyn and stuff like Labour wargaming a run on the pound.
  21. Help to "Buy" (Sell) to be pumped up

    In Berkeley Homes' defence Help to Buy accounts for a much smaller percentage of their sales than it does for the other major house builders. Not because they're somehow more moral, but because they were clever enough and lucky enough to buy central London land in the downturn and bet big on interest from global investors in the rebound. They just don't play in the HTB league. But maybe they will change that stance in future given the decline of the London and SE market.
  22. Guardian: London House Prices Down

    Usual shoddy journalism from the Mail. Headline mentions 50% discounts, the closest the actual copy comes to that figure is 30%. Lovely bear food though.
  23. Foxtons Share Price And The Housing Market - Merged

    If Countrywide goes under, should help Foxtons
  24. Foxtons Share Price And The Housing Market - Merged

    There's a parallel to Foxtons and estate agency in Trinity Mirror and news publishing. Both are industries where comfortable incumbents have been absolutely hammered by technological change, increased competition and economic factors. I don't believe Foxtons is on a straight line to destruction (although it would be heart-warming to see). People thought Trinity Mirror was near death in 2009 and 2011, but it has survived:
  25. Foxtons Share Price And The Housing Market - Merged

    Latest on Foxtons (and Countrywide) from a stock market analyst Jago maintains a sell recommendation for Foxtons, predicting a £3m hit on lettings per year. He also warns its high commission fees are impacting the firm’s activity and may need to be reduced. He said: “Trading remains challenging for Foxtons due to the low levels of housing activity in the capital. “In our view, this is being exacerbated by the group’s relatively high commission fees, which are increasingly detached from average rates charged by its competitors. “Self help could come in the form of a reduction in fees but, as yet, management seems reluctant to take such action. The lettings fee ban looks set to come into force in 2018, which will create a further drag on profitability.”