Thursday, Jun 21, 2007
You didn't get this much spin in the Bradford cotton mills
Daily Telegraph: Buy-to-let buoyant despite rising rates
The buy-to-let market has remained "very buoyant" in the first half of the year in spite of fears about the effects of higher interest rates, according to Bradford & Bingley
Posted by dobber @ 09:56 AM (148 views) Add Comment
10 Comments
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1. dohousescrashinthewoods said...
Interesting comparing this headline to the article on themovechannel.com, yesterday, which stated that around 5% of BTLs have given up in the first quarter.
To me that says 1 in 20 have thrown in the towel before IRs even get serious.
Anyone fancy tomorrow's specal: Fricassee of canned woopass with a sub-prime coulis on a bed of carry-trade with a side of banking failures?
2. waitingfor hpc said...
good - bring on the rest of the needed rises then. Nothing to worry about.
3. paul said...
buoyant?
( = treading water ..... ?)
4. Orwell said...
IN THE RIGHT PLACE/S IT MAY BE BOUYANT BUT THIS HIDES THE REAL AVERAGE ACROSS THE BOARD...
FOR EXAMPLE ONE CAN ALWAYS SAY (EVEN PROBABLY IN RECESSION)
THIS WOULD BE MY NEW LABOUR TAKE (SPIN) ON IT:
"..BTL REMAINS BOUYANT [IN WESTMINSTER,MAYFAIR,PARK LANE,BOND STREET,PICADILLY ETC..ETC..]..."
I MIGHT JUST FORGET THE PART IN BRACKETS RATHER LIKE TONY FORGOT THERE WERE NO WEAPONS OF MASS DESTRUCTION IN IRAQ....
THIS COMMENT/ARTICLE SURELY BELIES THE FACT THAT IN 57 ACACIA AVENUE THE PICTURE MAY NOT BE SO ROSEY...
5. royston said...
Paul,
I think they mean "going for the third time".
6. wiltshire said...
Even possible alarm bell is ringing at a deafening level suggesting BTLers find safer waters for their investments. If they want to carry on regardless this suggests to me they aren't all that experienced in the world of investments and will therefore learn some valuable lessons in the next couple of years.
7. Afrobaggie said...
Wiltshire, I honestly hope that they do learn their lessons, but what I fear is that the more sensible of us will have to bail them out!
8. confused76 said...
Bradford & Bingley is ripe for a shortselling bet (how about -25% by Christmas??)
http://finance.yahoo.com/q/bc?s=BB.L&t=5y
I will keep tracking the stock for you
Actually, webmaster, perhaps we could add links to the stocks of UK's main mortgage lenders and construction companies on the home page??? what do you think? stock performance would be one of the clearest leading indicators, to point to medium term house price trends
9. confused76 said...
More about B&B. Their story sounds like top-line stablility - for now - but compression of profit due to lower lending vs borrowing margins and increase of bad debt cost
http://www.forbes.com/markets/feeds/afx/2007/06/21/afx3843178.html
"B&B said today that while the increase in borrowing costs were showing signs of dampening property price growth, the fundamentals of the UK housing and mortgage markets 'remain strong'.
It added that it expects the buy-to-let market to continue outperforming the mainstream market, as a rising student and immigrant population fuels continued growth in demand for rented accommodation
However, B&B said rising interest rates had led to an increase in lending arrears since the end of last year, although the overall level of bad loans remains 'within our expectations'.
By 9.30 am, B&B shares were down 0.89 pct at 417-1/4 pence, giving the group a market value of about 2.67 bln stg. The stock has fallen by almost 13 pct since the beginning of the year, weighed down by concerns over the impact of rising interest rates."
10. Neil9327 said...
Absolutely barking!