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House Price Crash Forum


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About Bedsprings

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    East Surrey
  1. Look don't panic - people who invested for capital growth at the height of the market, regardless of yield will bail out when interest rates rise (as they will) and/or when they see that prices aren't rising. However it will take time for this to work through. People who know what they are doing (ie who buy only when they can get a decent yield) will continue to buy property to let, but not at the prices that prevail currently. A rental property's value is in its yield, ultimately in most cases.
  2. He doesn't need to sell in one lot to set the loss against the gain - he just needs either to make the loss in an earlier tax year, or sell both in the same tax year. However if he sells the 'gain' one more quickly, and in an earlier tax year, he'll have to get some good advice on planning if he is to avoid tax in that year, and unrelievable losses in year two, as you can't carry back CGT losses, just carry them forward. It should be possible to avoid this, but probably costly. BTW it's date of exchange of contracts that's the date of sale, not completion.
  3. They manage this sort of system perfectly well on Guernsey: at a point in time the shutters were pulled down. Anyone who was a 'local' could in future only sell to other locals. These are 'local market houses'. Anyone else could sell their house to whoever they wanted - but usually outsiders, obviously, because the houses are more expensive. I believe that on Guernsey there used to be quite a big discrepancy between the prices, but it's not so great now, because the locals are paid so well for working inefficiemtly in banks. However in a typical mainland country village, I suspect the discrepancy will grow and grow. Time to buy the place in the country I think...
  4. W&L it depends - you'd need to seek advice - you will probably have some years of tax exemptions available to you if it was at some stage your main residence while in Oz. You will also have to include exchange gains/losses in the calculation of the gain - you translate price at which you bought at the FX rate prevailing when you bought, then the proceeds using prevailing FX rate when you sold, to calculate the gain, rather than just translating the gain.
  5. Whoever collects the rents and pays to a foreign-resident owner has an obligation to withhold UK tax 22% under the overseas landlord scheme: only if the foreign owner registers with HM Revenue & Customs, (and files UK tax returns) can the rents be paid gross, and relief obtained for loans. Therefore if this person is collecting the rents and 'paying to the owners', they will probably have a bigger tax liability than if they declared the money properly...
  6. Until EA do their job properly, they will need shops in the High Street! - I tried to arrange an appointment to see a property on Saturday over the phone - no-one called back, so when I was passing on Saturday I popped in & made it then & there. They had a lot more staff in than punters, and (most important of all) their appointments book was only about 1/3 full.
  7. and who can blame them when they see figures like this: Latest figures have shown a property in the West Midlands valued at £111,418 in January 2005 is currently worth £135,248 in today's market. And landlords who have let a property of that value over the last twelve months have raised £7,534 rental income, and so in just one year, have made £31,364 profit through their buy-to-let investment. ? Anyone have any idea where those figures come from - surely not TMC itself?
  8. due to the cost of housing people can now only afford houses that don't need anything doing to them because they don't have the money to do the work themselves well yes - if the wreck of a house is over-priced... Economics and EA don't mix do they?
  9. What do you mean about no good if you want a family? That's what nurseries are for
  10. Our local intelligent EA says that it is a really fickle market - one fairly ordinary 3 bed house not too far from the sewage works, had 7 lots of people fighting over it, so it's gone to sealed bids, yet a very pleasant house, at an equally 'good' price, has had absolutely no interest. I've noticed this too - some really nice houses in good roads aren't shifting, even when the vendors lower the price to something almost reasonable, yet others go really quickly.
  11. Mind you at least losses on qualifying furnished holiday lettings can be offset against your other income - as long as making a profit was reasonably likely.
  12. I think I read somewhere on this forum a couple of weeks ago that when they did a trial of HIPS the number of failed chains fell from 25% to 5%: there may be fewer chains in the first place, but maybe the number of actual sales won't change?
  13. My word when it collapses it's going to be so horrid
  14. One of the areas I've looked at is Sussex, both East and West, and the picture is very similar there. Houses taking ages to sell, asking prices dropping, repossessions rising quickly and rents are very negotiable. There certainly isn't anything about the market in Sussex that makes me think I have to act quickly. In fact, things are unfolding quite nicely. I'd rather it was a bit quicker though! If you substitute Surrey for Sussex that would be my experience too!
  15. From a quick Google, our Henk is variously football expert, analyst and strategist. A man of many parts - how successful have his predictions on football clubs been? He does sound like a pl****er. Good to see that interviewers continue to challenge this view that rising house prices is Good News.
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