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North London Rent Girl

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Posts posted by North London Rent Girl

  1. On 19/10/2018 at 17:19, monkeyman1974 said:

    Trade price for a Barrett box in SE, is about £150psf, assuming no abnormals - this is not a Barrett box; add fees, and the fact you won't get any economies of scale; so no not quite £250,000; but not too shy of it. Say about £200 psf on 1150.

    But hey, you carry on with your knowledge of these things.

    Why does it matter if in SE if land not included? No expertise here myself, I haven't built a house but I know someone who's just built himself a really nice place for under 250 grand, it even has a stable-block. He's a small developer so he will have used trade stuff and his own people and didn't pay vat on it but still. I also know a few people who have done barn conversions, old barns so foundations up, and I haven't heard of costs reaching what you're talking about for an average place, 3-4 bed. And those often involve some chunky infrastructure costs.

    Btw that is a very adorable dog.

  2. On 17/10/2018 at 12:39, monkeyman1974 said:

    then you won't be buying it

    sure, it's a ton of money for an average property, but at 1,150 sq.ft; it'd cost that (give or take to build it) and that's before the price of land; which just won't ever be "free"

    Are you saying it would cost around 250 grand to build a 3-bed house, excluding the land? Just in case you're planning any kind of building project - really good idea for you to get another couple of quotes in!

  3. On 12/10/2018 at 08:35, Tiredofthissh1te said:

    Welcome Tiredofthissh1te, nice quick drop, wonder if they do the same this month. It's an odd advert, pictures of fields but the place only has, sorry, only 'benefits from' a "wrap around garden", they said it has "outbuildings" but, unless they mean the large barn across the road in one of the pictures, and I don't think they do, all I can see is a sort of large bin shelter that adjoins what I presume is the single garage that's "also available" - cmon, for 1.5m you couldn't chuck in the single garage?! Also, they say that "a feature of the property is the huge pond with a small island and outhouse" but they have elected not to provide a picture of it. 

  4. On 10/10/2018 at 13:53, Locke said:

    can view it if you google search the title. Good to include that with your post.

    Thanks, did that, worked. Nice graphics, must say. Can't understand why they're not flying off the shelves. Apart from the <$95 million price-tag for 4 bedrooms, who on earth wouldn't want to live in a super-tall skyscraper in Manhattan?!

    Edit: "Garrett Derderian of Stribling thinks the real number [the sold to for sale ratio] is more like 1:15, since, he claims, developers have been lowballing their supply numbers, mindful that a full picture will send prices falling further. “They are holding back homes that they would otherwise be actively marketing, and which would therefore show up in inventory figures,” he says. Inventory figures are being “significantly manipulated” by the practice of excluding this so-called shadow inventory, according to Miller." 

    This is surely going on in the UK, too, wonder when all that saved stock is going to wash out...

  5. 6 hours ago, zugzwang said:

    Yes, more private sector debt. That's what the UK economy needs. A concerted effort and we might be able to get it back up to 190% of GDP.

    :blink:

    ukdebtandcredit.jpg

    Huh, anyone else reminded of the curve in the rent as proportion of income graph in that other thread past couple days? A similar mad climb. Difference being that this one doesn't sort of level off, it peaks, crashes then looks like on way up again. But the first few years are pure uppity in both.

    image.thumb.png.4120226d9b13d14af253ab50af1fed33.png

     

     

     

  6. 3 hours ago, SOLZHENITSYN said:

    Should add, the idea has gone down like a fart in a spacesuit over at PovertyL8R

     

    https://www.property118.com/potential-budget-cgt-relief-profit-split-selling-long-term-tenants/

    Thanks for link, man alive they're a bunch of whingers. I loved this one, mainly for the lovely admission at the end:

    "My worry here is if it turns out like the agricultural sector where long term tenants have a right to buy. They can force a sale at a reduced rate. No thanks. I set up my buy to let business to provide myself and future generations with a pension scheme. I provide good quality housing at market value. I am available to tenants 24/7 and all issues are fixed quickly. There is a shortage of good rental properties in my area. There is a need for what I provide. Some of my tenants don't want home ownership. They don't want a 2000 pound bill for a new boiler or replacement windows. They just want to pay their rent and know what they have left is theirs. I feel as if my business is now being penalised at every step. If it gets much worse I will join the rafts of landlords who are quitting the sector and that isn't good news for my tenants."

    All together now in pantomime stylee, 'Oh, yes it is!'.

    He also trots out the 'some people want to rent' line - ah yes, the less well-known 1 per cent.

  7. 3 hours ago, Wayward said:

    Would tenants want to buy the houses they rent?  I sure as h3ll wouldn't buy the place I rent.

    If landlord's hope to benefit from this proposed scheme they are going to have to focus more on keeping their houses in better condition.

    I would love, love, love to buy the house I live in but it would sell for well over 2m so I'm in the fortunate position of not having to trouble myself with that decision! Ah, freedom. Sobbing into cuppa.

  8. 11 hours ago, durhamborn said:

    Nothing to do with Maggie,all to do with Paul Volcker.1982 was roughly the start of a long dis-inflation that saw rates on a multi decade downward march.That meant anyone buying an asset that goes up with falling rates could hardly fail.We are at the end of that cycle now,soon rates will be on an upward march and assets that gain from low rates will suffer the rubber band snapping back.The young buying now will be the biggest victims.

    Hmm, nothing to do with Maggie at all, really? That huge uptick - and it is extraordinary - starts just after she got into office and continues right through the 80s, when interest rates were sometimes in the teens, up to the mid/late 90s, which was when we really started to see rates here falling. It actually levels off - albeit after a g-forces inducing climb - once rates start to fall. So you might need to think again about the other factors in play.

    UK interest rate 1971-2018

  9. 1 hour ago, guest_northshore said:

    Offer price would just rise to previous + tax break/2. Not corrupt at all.

    Yes that's what I thought, they want the help to buy effect, if not to get prices up at least to stop them falling. And how many tory mps are private registered landlords again - over 40%, isn't it. And still over 20% of Labour mps. Why don't the journalists ever mention that?!

    edit - oh, that's right, because we might then start asking how many journalists are private registered landlords!

  10. 2 hours ago, winkie said:

    When BTL mortgages were introduced (privatisation of council housing with tax and lending  perks)....protected rents and sitting tenants were bought out and replaced by AST.....the rest is history.;)

    Yes, that extraordinary climb starts very shortly after Maggie got in, I daresay she was making all sorts of noises about flogging off council houses, scaling back tenants' rights and encouraging people to put property in their pensions even before the legislation came in. It's definitely a stat for someone like me who puts most of the current evils of the world down to 35 years of neo-liberalism.

  11. It is magic, would be great if the msm would really discuss it, they're pretty moderate changes but judging by the interview on Today with John Mcdonnell this morning about the 1% of shares to employees policy, they're going to kick up one hell of a fuss over the smallest of changes and if they do ever properly discuss changes to the rental market am sure they'll do the same there so that nobody can even think of anything more radical.

  12. Did anyone else catch this on Wednesday? Couldn't see it in posts. Ten years on, the BBC actually speaks to the people who saw the crash coming - no disrespect to the presenter, I should think whoever got this on air had to work their socks off. It's a bit of a weird experience to hear the stuff you normally look up on youtube on the BBC, can't quite put it into words. Definitely good listen.

    Cassandras of the Crash

  13. On 29/08/2018 at 20:39, Sausage said:

    I agree ..  but I see some listed for 2 years with one 5k drop. Then I see thus dropping 10k every month... Looks like a race to the bottom.

    Yes agree it might be an indication of a change in sentiment - very different from someone refusing to contemplate that they might have to drop the price then conceding a couple of grand 6 months in, as you say. This seller might be unusual as they appear to have a drop per month policy but still, good to see.

  14. 1 hour ago, jimmy2x3 said:

    any more info on this policy?  are they intending to try and prevent van living which would surely be against your human rights, or set up areas where its allowed to control it to their liking?

    Slight swerve from thread topic but LAs want the people who own the land that van-dwellers park on to have to buy a licence - I know this from the bitter experience of a friend of mine who has been chucked off a farm because it wasn't licensed. There were just two lots of people there, running water, everyone behaving and all hunky-dory but those aren't the kind of namby-pamby criteria that the council look at, they want their licence fee. What we really need is many more sites to cater to all kinds of people, apparently the current public sites are nasty as hell.

  15. On 31/08/2018 at 17:36, durhamborn said:

    My daughters friend  paid £200k for a 4 bed shoe box in Darlington with HTB.I said why didnt she buy one of the big 3 beds for £80k near her mum.She said she didnt want to live on a council estate.Where her mum lives 86% of the houses have been bought.Where she has bought 20% are "affordable" ie sold to a housing association.Her next door house is now let to a family i know,top draw scroungers.The one over the road has just been given to some recent middle eastern arrivals.She hasnt quite clicked yet they are living on a new council estate.I doubt il see a worse investment.Negative equity forever i suspect and trapped.

    I DO believe you but this is almost unbelievable, how can this be? Unless the estate is known for violence, drugs and so on, nothing wrong with a council estate, I'd jump at the chance if I was offered a council house, dream on. I take your point that the new estate is going to be populated by some of the population would would once have been housed on council estates proper so her objection to living on a council estate is even sillier. That's happening in a new town near my mum and dad in devon but it was alway the plan to sell lots of the town to local authorities - I seem to remember my mum saying that people would be coming in from as far afield as Birmingham. Take bribes from a builder, swing the tender, get a load of cardboard rabbit-hutches thrown up and put on the market for stupid prices then buy them. Magic.

  16. With my dodgy maths, according to this

    https://spacehomes.co.uk/wp-content/uploads/2018/03/2-Bed.pdf

    I make 100% 215,000 for a 2-bed, that's the slightly more expensive of the options, the others a grand per 35% less. Even if they are buying at a mark-down, it would have to be one hell of a discount to beat something like this

    https://www.zoopla.co.uk/for-sale/details/48122349?search_identifier=f629959cc30a51faa29d93f65687a001

    or this

    https://www.zoopla.co.uk/for-sale/details/41821891?search_identifier=f629959cc30a51faa29d93f65687a001

    or any of the other really nice places for sale for well under 200k in central skipton. Not being overly suspicious, let's face it, what's missing with those lovely old properties is a bit of palm-grease from a developer. Can anyone think of any other explanation? If the project now is to buy places on the private market and make them available for shared ownership, why buy only new?

    Edit - where's the emoticon for total bloody outrage fatigue?

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