anonlymouse Posted June 6, 2017 Share Posted June 6, 2017 Average UK rents fall for first time in more than seven years Oh dear. I thought S24 would mean they went up? Quote Link to comment Share on other sites More sharing options...
LittlePig Posted June 6, 2017 Share Posted June 6, 2017 "Average UK rents have fallen for the first time in more than seven years, with London seeing the biggest decline, according to new data. The slowdown in the rental sector mirrors a similar picture in the housing market, with figures showing that property prices have fallen for the third month in a row." https://www.theguardian.com/money/2017/jun/06/uk-rents-fall-london-brexit#comment-99808485 So rents and prices drop together? But I thought BtL was interest payments from a bank. Chortle chortle chortle. Just need a Jezza win for some summer housing panic. Quote Link to comment Share on other sites More sharing options...
Freki Posted June 6, 2017 Share Posted June 6, 2017 Yummy double whammy! I wonder how many BTLers are getting s**t scared. Quote Link to comment Share on other sites More sharing options...
Horridbloke Posted June 6, 2017 Share Posted June 6, 2017 A BTLer in my office started whinging about s24 about a month ago. Before then he'd denied all knowledge of it (even though he'd joined a brace of anti-s24 groups on social media, go figure). His cunning plan now is to raise rents. When I suggested rents are pretty much as high as they can go his response was "tenants can always be squeezed more". Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there. He and I have now agreed BTL'ing and S24 are off-limits topics. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 6, 2017 Share Posted June 6, 2017 3 minutes ago, Horridbloke said: He and I have now agreed BTL'ing and S24 are off-limits topics. Is laughing up your sleeve at idiots off limits ? Quote Link to comment Share on other sites More sharing options...
hi5lo5 Posted June 6, 2017 Share Posted June 6, 2017 27 minutes ago, Freki said: Yummy double whammy! I wonder how many BTLers are getting s**t scared. I doubt they are aware of the consequences. Skimmed through the most popular BTL forums, there are no mention of rents falling down or even the Nationwide HPI report. They are programed to think HPI forever. Most of the idiots wake up when it happens to them and realize that they have reached point of no return. Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted June 6, 2017 Author Share Posted June 6, 2017 12 minutes ago, Horridbloke said: Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there. There's a hell of a lot of those coming onto the sales market "great investment opportunity" etc. Quote Link to comment Share on other sites More sharing options...
Horridbloke Posted June 6, 2017 Share Posted June 6, 2017 49 minutes ago, TheCountOfNowhere said: Is laughing up your sleeve at idiots off limits ? He's investing in a cryptocurrency investment fund now, bless 'im... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 6, 2017 Share Posted June 6, 2017 14 minutes ago, Horridbloke said: He's investing in a cryptocurrency investment fund now, bless 'im... Som people just want easy money dont they. Sad indictment on the UK ( US Style ) society Quote Link to comment Share on other sites More sharing options...
Freki Posted June 6, 2017 Share Posted June 6, 2017 My anecdote of the morning, the PA claiming house prices falling in London is a hoax by the media and that house prices can only go up. Bubble mindset Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted June 6, 2017 Author Share Posted June 6, 2017 Like getting a stock tip from a shoe shine boy. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 6, 2017 Share Posted June 6, 2017 1 word...."GLUT" Quote Link to comment Share on other sites More sharing options...
Lavalas Posted June 6, 2017 Share Posted June 6, 2017 Oh my days, here's 118s take on the news... https://www.property118.com/confusion-rental-market-prices-demand/99403/ "Despite the blip in Homelet’s figures above the evidence from the vast majority of Property118 readers is that long term increase in demand for rental homes combined with the attacks on Landlords reducing supply mean the long term upward trend in rental prices all things being equal is likely to continue. However, we will have to wait and see what effects Brexit will have especially in the London area." Quote Link to comment Share on other sites More sharing options...
durhamborn Posted June 6, 2017 Share Posted June 6, 2017 3 hours ago, Horridbloke said: A BTLer in my office started whinging about s24 about a month ago. Before then he'd denied all knowledge of it (even though he'd joined a brace of anti-s24 groups on social media, go figure). His cunning plan now is to raise rents. When I suggested rents are pretty much as high as they can go his response was "tenants can always be squeezed more". Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there. He and I have now agreed BTL'ing and S24 are off-limits topics. Do you know when he bought them and what leverage he has?.Is he interest only on a high LTV etc?.A BTLer in an office.Says it all really.If he doesnt have the BTL and loans in a Ltd company he will be glad when rents tank,he will probably be renting. Quote Link to comment Share on other sites More sharing options...
adarmo Posted June 6, 2017 Share Posted June 6, 2017 2 hours ago, Horridbloke said: He's investing in a cryptocurrency investment fund now, bless 'im... A fool and his (borrowed) money........ Quote Link to comment Share on other sites More sharing options...
Wayward Posted June 6, 2017 Share Posted June 6, 2017 31 minutes ago, Lavalas said: "Despite the blip in Homelet’s figures above the evidence from the vast majority of Property118 readers is that long term increase in demand for rental homes combined with the attacks on Landlords reducing supply mean the long term upward trend in rental prices all things being equal is likely to continue. Won't the terror attacks reduce demand in London? I never have liked London (although I do like many other world cities)...these atrocities don't make it more appealing as a place to live and work...if you have a choice why live in London or the UK? Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 6, 2017 Share Posted June 6, 2017 5 hours ago, anonlymouse said: Average UK rents fall for first time in more than seven years Oh dear. I thought S24 would mean they went up? Thats UK - as in everywhere, not just London. Quote Link to comment Share on other sites More sharing options...
Bear Goggles Posted June 6, 2017 Share Posted June 6, 2017 48 minutes ago, Lavalas said: Oh my days, here's 118s take on the news... https://www.property118.com/confusion-rental-market-prices-demand/99403/ "Despite the blip in Homelet’s figures above the evidence from the vast majority of Property118 readers is that long term increase in demand for rental homes combined with the attacks on Landlords reducing supply mean the long term upward trend in rental prices all things being equal is likely to continue. However, we will have to wait and see what effects Brexit will have especially in the London area." Brilliant. They're still in the denial phase then. I love the way that a load of BTLers ranting on a forum is called 'evidence', but hey, let's not question these things too much. Anyway, I shall fix it for them: "Despite Homelet’s data showing an annual fall in rental prices, we've convinced ourselves it's just a blip by saying 'it's just a blip', and the vast majority of Property118 readers plan to mitigate the falls by sicking their fingers in their ears and shouting 'tenant tax, tenant tax' at ever increasing volume until a long term increase in demand for rental homes materialises out of tenants realising that over-leveraged landlords are the victims in all this, and agreeing to pay more rent. However, we will have to wait and see if we can retrospectively blame Brexit for the fact that we're all probably f****d." Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted June 6, 2017 Author Share Posted June 6, 2017 1 hour ago, Wayward said: Won't the terror attacks reduce demand in London? I never have liked London (although I do like many other world cities)...these atrocities don't make it more appealing as a place to live and work...if you have a choice why live in London or the UK? In all honesty the weekends been shit and yesterday was very subdued, but atmosphere in the office and on the commute is very much business as usual. This is despite several staff members socialising or even living in the area affected. London's always been a target and always will be but it affects tourism more than it affects demand to live and work here. I won't bother to give London the hard sell though as it's very much like marmite in that people either get it or they don't. Quote Link to comment Share on other sites More sharing options...
longgone Posted June 6, 2017 Share Posted June 6, 2017 4 hours ago, Horridbloke said: A BTLer in my office started whinging about s24 about a month ago. Before then he'd denied all knowledge of it (even though he'd joined a brace of anti-s24 groups on social media, go figure). His cunning plan now is to raise rents. When I suggested rents are pretty much as high as they can go his response was "tenants can always be squeezed more". Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there. He and I have now agreed BTL'ing and S24 are off-limits topics. have you consider adding his work email address in mailing lists for bankruptcy and debt management firms ? Quote Link to comment Share on other sites More sharing options...
Freki Posted June 6, 2017 Share Posted June 6, 2017 it is not the same scale of events but Paris suffered hard. Quote Link to comment Share on other sites More sharing options...
longgone Posted June 6, 2017 Share Posted June 6, 2017 1 hour ago, fru-gal said: I think so many things working against London HPI and rents now. Brexit, terrorist attacks, just general negative sentiments, crap currency and of course the shitty weather . but we have successful Multiculturalism and virtual Grand theft auto on the streets. Quote Link to comment Share on other sites More sharing options...
Gribble Posted June 6, 2017 Share Posted June 6, 2017 Even hit the German news - London rents show clear falls http://www.spiegel.de/wirtschaft/service/london-immobilienmarkt-mieten-fallen-im-mai-2017-deutlich-a-1150789.html Quote Link to comment Share on other sites More sharing options...
Horridbloke Posted June 8, 2017 Share Posted June 8, 2017 On 6/6/2017 at 0:39 PM, adarmo said: A fool and his (borrowed) money........ Oh good grief, apparently they (the investors) are collaborating on what amounts to a pump and dump scheme... Quote Link to comment Share on other sites More sharing options...
adarmo Posted June 8, 2017 Share Posted June 8, 2017 2 hours ago, Horridbloke said: Oh good grief, apparently they (the investors) are collaborating on what amounts to a pump and dump scheme... Who are? The fools? Quote Link to comment Share on other sites More sharing options...
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