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House Price Crash Forum

pamery

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About pamery

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  1. I think that what he paid for it is irrelevant. It's the rental income now versus the capital value that's important. And 2% ISAs and the stock market are surely also irrelevant. What the yield should be compared to is the cost of a mortgage to buy the same property. I'm sure that's well above 2.5%. That puts us squarely into bubble territory for house prices. And this time there are no more rate cuts possible.
  2. Our landlord has recently told us he wants to sell the flat we're currently renting in London SW13 We've noticed that he's advertised it for sale at £850k. We're paying him £1800 per month in rent, so that's a 2.5% gross yield, before agency commissions, insurance, maintenance, ground rent, service charges, voids, etc. That seems a pitifully small yield to me. Either we're paying too little in rent or he's massively overpriced the property for sale. And it seems evidence that London property really is in an enormous bubble.
  3. Am about to start a search for a new place in W/NW London. Currently rent a 1 bedroom place in W2 paying around £400 pw, but need to move to a place with 2 beds (family has grown from 2 to 3) and ideally cheaper, so less central. We are thinking W6 (Hammersmith), W14 Baron's Court or somewhere around Queen's Park (NW6). ANy feedback from people currently looking or undergoing rental negotiations on would be most welcome - how is the market, what kind of discounts, if any, have people managed to negotiaite, any tips on renting privately?
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