Bankside
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Posts posted by Bankside
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Lots 34-45
Sold 3
Sold prior 1
Withdrawn 1
Unsold 3
Lots 39, 40 & 41 not showing
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Next 11 lots.
Lots 23-33
1 withdrawn
3 Sold (includes 2 Commecial and 1 Freehold lease)
6 unsold (inc1 no bid and 1 Commercial))
(Lot 32 not showing)
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31 minutes ago, darkmarket said:
I often see this recommended here but I can't find it through addons.mozilla.org and it looks to be closed-source.
Here you go!
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4 minutes ago, NorthernMonkey said:
Hah... Lot 19 was blatantly off the wall then surprisingly "not quite there".
I think you could be right!
Next 11 lots...
1 withdrawn
3 Sold
7 Unsold
Plenty of comments from the Auctioneer to the last bidder(s) to "come see us after to see if you can close the gap"
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Watching the live feed from the Barnard Marcus Auction in London today
First 11 Lots (these are in London) - results are 2 Sold prior, 3 sold at Auction and 6 Unsold (due to reserve)
Details here
http://www.barnardmarcusauctions.co.uk/Current_Auction.html
Live feed here
https://liveauctions.eigroup.co.uk/auction/show/25618
So not going so well...
Is anyone there and can provide an idea of how busy it is??
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And as an added bonus
But in a surprise move, the government also revealed that it is to cap deposits at one week’s rent, rather than the six weeks’ rent that is most common within the sector at the moment.
https://thenegotiator.co.uk/letting-fees-ban-queens-speech/
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NEWSFLASH: Lettings fee ban will let tenants recover unlawful charges
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Queen's Speech 2017: Lettings fees to be banned - finally
More than six months after first suggesting the idea, the government has finally announced plans to ban fees to lettings agents in England.
A new Tenants' Fees Bill was announced in the Queen's Speech, which will stop tenants having to pay money to agents.
The idea was first suggested by the Conservatives in the 2016 Autumn Statement.
The measure is likely to pass into law, as all the main parties had it in their election manifestos.
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2 hours ago, anonlymouse said:
We're a bit of an echo chamber here though, and no doubt suffering from a collective bias and cherry picking - I know I do. I don't disagree that it feels like we're at some kind of tipping point but until the change in sentiment spreads to the mainstream it's best to take everything posted here with a punch of salt.
We don't allow anyone that has a different view here. They are chased away.
It's a bit of a shame as we lose the ability of discussing and debating different potential outcomes
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13 minutes ago, Toast said:
Bankside, please be more careful with your headlines in these troubled times. My heart stopped for a moment when I thought that yet another insane immigrant, bent on destroying people's lives, was loose around a residential area; rather than being locked away where the authorities put him, in the bank of England.
Ha, Nice one!
And a hat tip for the correct usage of the word "loose"
4 minutes ago, Unexpected said:Not normal rents so nothing to see here. 2 bed flats at 1400 pcm are still flying off the shelves.
It's been a long while since I saw 2 bed rentals at that rate within zone 2.
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There are a lot of
new blocks of flats,Executive apartments coming on stream in SW8, and lots more over the last few years. Expectations have been high in regards to getting top dollar for rentals but the reality is somewhat different.Who know's what the expectations were with these purchases but huge reductions and long voids can't be good for the savvy investors!!!
Here's a few examples
http://www.zoopla.co.uk/to-rent/details/42671631
First listed
£5,417 pcm on 20th Dec 2016Asking rent changes- £6,283 pcm 16.0% Increased on: 21st Dec 2016
- £4,767 pcm 24.1% Reduced on: 18th Jan 2017
- £4,333 pcm 9.1% Reduced on: 31st Jan 2017
- £3,900 pcm 10.0% Reduced on: 8th Feb 2017
- £3,683 pcm 5.6% Reduced on: 27th Feb 2017
- £3,250 pcm 11.8% Reduced on: 11th Apr 2017
- £2,817 pcm 13.3% Reduced on: 26th May 2017
http://www.zoopla.co.uk/to-rent/details/41145658
First listed
£10,833 pcm on 27th Jul 2016Asking rent changes- £8,667 pcm 20.0% Reduced on: 10th Jan 2017
- £5,850 pcm 32.5% Reduced on: 30th Jan 2017
http://www.zoopla.co.uk/to-rent/details/42911316
First listed
£4,117 pcm on 8th Feb 2017Asking rent changes- £4,242 pcm 3.0% Increased on: 11th Mar 2017
- £4,117 pcm 2.9% Reduced on: 18th Mar 2017
- £3,250 pcm 21.1% Reduced on: 8th May 2017
- £2,860 pcm 12.0% Reduced on: 11th May 2017
www.zoopla.co.uk/to-rent/details/42891062
First listed
£4,333 pcm on 6th Feb 2017Asking rent changes- £3,683 pcm 15.0% Reduced on: 2nd Mar 2017
- £3,250 pcm 11.8% Reduced on: 18th Apr 2017
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33 minutes ago, Chrippie said:
Tom Winnifrith nails it:
http://www.shareprophets.com/views/28751/house-price-crash-on-the-way-new-data-from-nationwide
For registered people only.
Can you provide an overview??
Thanks
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I'd ask for a counter offer. Seems she is in no hurry though.
See if the Agent is interested in getting a sale through and some commission perhaps??
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4 minutes ago, Gush said:
The 10% more than what she paid would just breakeven after banker's/broker's/estate agent's/HMRC's/surveyor's commission.
Don't forget the Farrow and Ball...
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9 hours ago, Tulip_mania said:
Been lurking here for a few years, but just trying to get my head round when these changes will actually crystallise.
10% Maintenance allowance was removed in FY 16-17 so needs paying (or justifying with receipts) Jan 18, 2-4.5% hit on their profit margin. Any info that HMRC are doing some serious digging for undisclosed BTL?
I wonder if LLs are thinking they can spend this money on their properties to improve and enhance the sale price in the future.
But the future may come faster than they are anticipating.
Either way, we could see some spend on rentals happening soon.
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40 minutes ago, TheCountOfNowhere said:
It looks like they were being sold for £465K early 2015. - http://www.rightmove.co.uk/property-for-sale/property-50480840.html
Price are all over the place right now - Here's one for £650K - http://www.zoopla.co.uk/for-sale/details/42129034
And another for £516.9K - http://www.zoopla.co.uk/for-sale/details/39534241
So it looks like those selling teh £475K place are looking to get out with close to zero profit (assuming some costs for selling)
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It's also the first place if seen that wants the tenant to pay the Service charge - in addition to the £4k monthly rental!
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20 hours ago, the_duke_of_hazzard said:
That's cheaper than where I live, a few miles away from the river.
It's also about the same as a colleague's 650K 2-bed flat in Greenwich (much less desirable location) bought last year.
This will undoubtedly 'ripple out'.
This one (down 25%) works out at £813 / Sq ft
Note - but they have added the "sky garden" as part of the calculation - sneaky!
It's looking desperate in SW8 right now
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41 minutes ago, suntory said:
Another day and another reduction at the Battersea Power Station: Faraday House, Battersea Power Station, London
http://www.rightmove.co.uk/new-homes-for-sale/property-58047955.htmlWe are now down to £679.995 for the two bedder.
That's down to £880 / Sq ft which is a massive reduction on the numbers we were seeing a year or so ago (Was it £1,200 before??)
And that's not including the two sky gardens (that's balconies to the unwashed
) - that's another 180 Sq ft
This one is identical but on a lower floor - http://www.rightmove.co.uk/new-homes-for-sale/property-45823536.html
I think it's unlikely they will get the asking £795K!
There are plenty of other off plan and existing places on the market for £1,000+ / Sq ft.
Property bee tells a story and it's not a good one for sellers...
Proces are set at the margins as someone far smarter than I once said.
Does any one have any other examples - or can show the increasing (and now decreasing) £ per Sq ft??
Edited for better search link
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7 minutes ago, fru-gal said:
Does anyone know how much Foxtons charges in terms of tenancy fees? I wonder how the future ban will affect them? Pretty sure they charge significant amounts.
From their website
Tenant Fees
Our standard tenancy fees and possible additional fees
Standard FeesAdministration fee £420 per tenancy This is a fixed cost fee that can cover a variety of works depending on the individual circumstances of each tenancy, including but not limited to conducting viewings, negotiating the tenancy, verifying references and drawing up contracts. This charge is applicable per tenancy, and not per individual tenant. Deposit for a long let tenancy Equivalent to six weeks' rent Deposit for a short let tenancy £700 or equivalent to one weeks' rent (whichever is greater) Other Fees
Change of occupancy within an existing tenancy £300 Letter sent by Foxtons regarding late or non-payment of rent £60 for each letter sent Tenant reference request £35 Tenancy renewal (long lets only) £96 per tenancy End of tenancy inventory check-out organised by Foxtons £165* *Where a landlord organises this inspection independently of Foxtons, the charge may vary.
All fees unless otherwise stated are inclusive of VAT
These look like they are at the high end of the scale. I can't see Landlords agreeing tho these when there are other Agents to deal with. Foxtons will have to significantly reduce their fees, or deal with a far reduced turnover of properties.
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"The year began with a procession of estate agents with pink shirts and pink cheeks streaming through our flat like cut-out figures in a paper chain. The Hughs, as we called them, promised they could sell it in weeks for exorbitant sums and foolishly we believed them. “Oh yah,” one Hugh exclaimed approvingly. “The Russians will love the bijou luxury.” Another Hugh became quite fixated with the “bird’s-eye view”.
We were optimistic. Never mind the four flights of stairs or the rickety ladder up to an illegal roof terrace; never mind that the flat has the same square footage as a Formula One car — with those estimates, we were on our way."
The madness is going mainstream
Seems there is a buildup of realisation that this isn't right, isn't healthy, and isn't going to end well...
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Interesting that the Telegraph is pointing out all of the new negatives of being involved in BTL.
Unless this resuts in a U turn on all detailed aspects that are making it a poor investment - which I think is most unlikely, surely this will result in disuading new entrants, expansion of portfolios and potentially getting out of the business altogether?
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1 hour ago, tomandlu said:
No shit, Sherlock. It's why a lot of us gave up even coming to this site. It used to be an interesting venue for lively debate; it's now an echo chamber where certain members brook no dissent, even from those who agree that the situation is intolerable and unsound, and an HPC is due any moment according to the tea-leaves and the entrails of certain birds. Deviation marks you as a LL or worse. All I can say in mitigation is that there have been obvious attempts at trolling in the past, and that for many on this site, the anger at what has occurred in the economy is genuine and justified, and in some cases has been carried for over a decade.
It's still a shame, since, imho, the participation of those on both sides of the argument is needed, but is no longer tolerated. It's no longer a debate; it's a crusade and a witch hunt.
That's much the reason why I don't comment so much. Whilst the Count is a very enthused member of the forum, and has some interesting things to say at times, he doesn't like an opinion that doesn't agree with his own.
It's shame really as it stifles decent debate.
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Henry Pryor is confusing. He makes millions selling houses to people. I suppose I just find an honest perspective in such a greedy market where everyone is a liar a bit of a strange one
I think you'll find that Henry Prior makes money BUYING houses for people, He sees skyhigh prices as a barrier to transactions.
Barnard Marcus Auction 25 July
in House prices and the economy
Posted
Lots 46 - 56
Sold 4 (includes 2 land and 1 garages)
Sold Prior 1
Withdrawn 1
Unsold 6 (includes 1 land)
Includes Lots 51, 51A and 51B
(also includes lot 56 - 39 St James St, Tunbridge Wells unsold at £760K)