ianbeale
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Posts posted by ianbeale
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http://www.uploadlibrary.com/rightmove/rightmovecensus.htm
this surey is bit limp with no open text box - that bing said there is opportunity to say that prices will fall so its worth doing as this could be published to the sheeple - plus there are prizes too!!!
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i havnt got xp so it wont allow me to download iPlayer - can anyone help. Please!!!!!!!
can some one stick this on youtube etall
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New build apartment block in Marine Parade, Dawlish, South Devon, EX7 9EX. Was formerly the Great Cliff hotel, which was demolished due to subsidence or some such to make way for this monstrosity, which stands over 1 storey higher.
Right beside the main London - Plymouth railway, other desirable features include waves breaking over the second floor balcony when the moon and sun line up.
Several to my knowledge (about 25-30 in all) have not been occupied, although the developer no longer carries them on its website (MIDAS HOMES). Original brochure prices on completion in 2006 were not far short of £250k.
Rightmove currently has 4 - 2 bedroom lots for sale, asking between £235k and £249.5k. This seems to tie up with Nethouseprices which produces value around the £230k - £240k mark during the back end of 2006, which is a hell of a lot for the area, espcially given the way the units are squeezed in and the other desirable features mentioned.
However Rightmove also has 3 - 2 bedroom apartments for rental, part furnished for between £750 and £795pcm! Even giving the LL the benefit of the doubt, £795pcm / £228k is only a whopping 4.2%, way below even the BoE base rate.
I thought I had it good renting a furnished 1 bed with water rates inc. for 4.9% of market price.
Obviously the rumoured Plan A of letting them as holiday flats for £1000pw got washed away in the rain then?
What times ahead?
the 4.2% you quote will probably be a bout 3% in reality once fees/ voids and discounts are taken in - happy days - true value is probably around 175k to make this pay
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Sign up to the BBC iPlayer and you can download the programme.
i havnt got xp so it wont allow me to download iPlayer - can anyone help. Please!!!!!!!
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The Rightmove October report is out next Monday and is based on figures from yesterday. Will it confirm the drop in the market picked up last month? Will we get another leak before the weekend?
difficult to say a lot of HIPS noise in the figs to darw any conclusion - though i suspect they will be slightly red neg 0.5ish
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so why do you think the older Btls would wnat to sell anyway?
Flippers cant make money now, prices are liekyl to fall regardless of tax liability because of the JUST STARTING CREDIT CRUNCH- Its not going away tomorrow, or next month, and with all the CDOS created with OUR property, its going to get worse
even if they have been at it for 10 years they have to pay 24% cgt this will drop to 18% in apri (a signifiacnat drop on a significant asset gain) - if hpi is falling then they would look to take their gains - if they all do it at the same time then HPC -
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If the CGT 18% rule applies to property is this a really subtle way of stopping BTL's exiting the market until April (by which time an election may have been called)?
Thereafter a flood of BTL sales ensues and brings the market down nice and sharp.
Call me a cynic, it's true
could be but we need neg hpi til april to bring on the flood - otherwise it could encourage btl
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Did anyone else see him on the news - telling it like it is. I can't remember what he said word for word but the thrust if it was that the problems that were threatening the US economy were even more extreme here in the UK ie reckless lending and a bursting housing bubble.
on Ch4 news he said that hpi should be in the inflation basket - dont like that much with hpi now heading south
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Very possibly.
But in the absence of any rental income, HMRC may open an Enquiry.
If successful, interest and penalties could be levied in addition to any tax due.
why do you need rental yeild to produce cap gains - if an asset goes up it is a cap gain - end of
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Exactly. This will make little difference to the housing bubble. In order to pay tax you need to make a profit. You can only make a profit if house prices rise. They've stopped rising.
whilst what you say is true fro new btlers, a lot of older btlerse have made a lot of money and this will be their golden get out option and is the reason that this might work in our favour if hpi is neg til april - could spark a fire sale as btls flood the market in one go - it totally unedermines the "in it for the long term" mentality - the next few months are critical -
as an asside you should see some holiday lets go cheapppp as they qualified for full business taper relief so will face an 80% cgt hike come april.
this will be massive one way or the other (watch Brad and bing shares for clues) - whether its good or bad for hpcers i dont know
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Developers will continue to be liable to 40% Income Tax.
Likewise flippers - although they can be more difficult to spot.
they wont declare it as income - they will declare it as cap gains
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You couldn't be more specific? I've read the section on cgt, but can't find the relevant points.
uits the table at the bottom BTL qualifies for standard asset taper relief before today cgt was 24% if you held it for ten years 40% if less tahn 2 years - from april it is 18% for all (FFS!!!!)
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As I wrote above, I believe most small buy-to-letters will not qualify for business asset relief.... and I'm not at all sure where you are getting this 2% relief per annum from.
http://www.investorschronicle.co.uk/Invest...r-landlords.jsp
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This is also my understanding....in other words it is bad news for us because it will encourage more BTLers to neter a lower CGT market, and as you say the rest of them will put their selling plans on hold until April.....
Is there a good side to this - ie those waiting for the 10% threshold will sell earlier now? But 10% takes a number of years to reach...longer than the BTL bulge.
This will halt BTL offloading or am I wrong? :angry:
best case - will halt BTL offload til april then (if HPI down in mean time) a fire sale as the all rush for the exit at the same time = big HPC
worst case - will halt BTL offload til april then (if HPI up in mean time) much more btl and short term property speculation = big HPI
in summary the next few months are crucial!!!
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Bad news for HPCers but maybe good
I think this is good news for BTLers (who got taper relief at 2% pa - going down to a minimum of 10% - so not many will loose out) and especially good for developers/flippers who now only pay 18% tax on their profits made over a few months rather than 40% (FFS) this makes it a bloody good sector to get into as you are effectively paying only 18% income tax with no NI to pay. Bad news for holiday home owners though who got 10%pa taper relief down to 10% minimum)
This will reduce the supply of properties comming onto the market until april without doubt - but if HPI heads down over the next few months you could get a fire sale next april as BTLs unload on masse
interesting times but on the whole i dont like it
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Looking at the news now, the stage is set for a significant downturn in the housing market
- Mortgage rate sitting at well over 6%
- Credit tightening and increased standards for lending
- Large number of house being developed and on the market
- Stagnant rents, well below costs for BTLers
I have been on this forum for a good few months now, and i know that there are people who have been expecting a crash for years that has not come. I dont want to be sitting here 4 years down the road saying "next year, next year, next year"
So i am now laying down the gauntlet, if we do not see significant falls in the next 6 months i am doubtful we will get 'the crash' that we are all looking (and hoping) for.
What do you think
i have been STR waiting for the crash since feb 05 - we've got all the ingredients you list above and weve had the trigger (NRock) - I am starting to see tentative fals on my patch and would expect to see this turn into real MOM negatives very shortly - if this hasnt happened by feb 08 then i will probably buy (probably) - if it has got going then i will be dancing with joy on the BTL/EA/VI scums grave!!!! bring on the HPC - history beckons
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yep. am one of those dastardly renters. do not have a mortgage. do not want a mortgage. do not have any savings to stress about either. be free. spend don't save. rent don't buy.
this will be seen as words of wisdom in months/years to come - if all else fails the taxpayer will underwrite you anyway - be free - enjoy - you could be dead tommorrow http://www.jr2.ox.ac.uk/bandolier/band150/b150-5.html
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just a thought but could some of this 0.7 be due to more 4 beds being on the market during this selling period (HIPs again) ???
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dare i say it - i think it has now turned - had a previous offer of 250 on a 275 asking accepted the other day (offer made in june - initially hardlined for 270) - i have walked away as seeing some decent reductions on other stuff i have been watching - any other plymothians care to comment
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Not a chance. This tedious business will drag on till next spring.
to clarify this is MOM not YOY
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nationwide september due 28/9 0700
after last months seasonally adjusted +0.6 (a small fall in non SA) will we finally see some red on the board - i have been calling it for two months now but to no avail - have your say below or in the poll -
im going for -0.3% SA
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Big Article was on ch4 lunchtime news headline - Mortgage Rates Going Up!!! - stating that abbey ae the first to raise their tracker rates as a direct effect of the credit crunch / libor hike with all other major high street lenders to follow suit - a figure of 0.2% (to new customers/those comming of fixes only) was mentioned. In the same article they did say that fixed rates were getting cheaper as rates were expected to fall next year - so non balance not to sure how bearish this was - but the headline was good stuff
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this is a shame - this government is just sick - this will just target the most vulnerable and gulable members of the sheeple who will get themselves into serious debt as the chancellor collects the taxes - gambling is getting too easy in this country especially with the fixed odds betting terminals in bookies now that people can easily fry a grand on in a 4 hour session - And now you can walk in to a casino of the street without the 24hr cooling off period required to get membership previously - so expect a lot more cases of addicts who previously manage to bar themselves from casino carrying out spontaneous acts of self destruction - these places have no windows, no clocks and they even pump oxygen in to the room keep people going - the average punter walking into a casino leaves with 60% of the money he walked in with - fact - still look on the bright side with my hpc head on - more repos
Tesco Property Website Withdrawn Due To Ea Moaning
in House prices and the economy
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news 24 have just said that the EAs have crushed the tesco property website because they dont offer full EA facilities - standards. Could have knock on implications for all private sale websites - more to follow on moneybox radio 4 at 12
http://news.bbc.co.uk/1/hi/programmes/moneybox/default.stm
http://www.tescopropertymarket.com/Magazine/PressRelease