Wolfie84

Looking forward to seeing their Q3 report. Should be out by the end of the month. If they last that long...

Rather than BTL running for the exits, I think it's more that they're no longer buying. Leaves OO with less spending power (as repayment mortgages rather than interest only). Also leaves plenty more for scope for bigger drivers of falls to kick in (BTL tax changes, forcing sales. Interest rate hikes having same effect etc)

Oh, and if you can't get anyone to rent it out, just drop the price, innit 03/07/2017, Price changed: from '£1,550 pcm' to '£1,400 pcm' http://www.rightmove.co.uk/property-to-rent/property-67196177.html And chuck it up for sale, innit http://www.rightmove.co.uk/property-for-sale/property-67377356.html

http://www.rightmove.co.uk/property-for-sale/property-67394846.html Got the Receivers in to sell this. One to watch?

You're right. You never see an old estate agent do you? Turns out it is possible to die from shame (with due credit to Al Murray)

They're probably just correcting a typo from 1,910,000 to 1,190,000, I'm afraid. Imagine the embarrassment though when they realise they still need to knock a zero off the end to make it right.

The first one was filtered down to searches from England (I think). Yours looks to be worldwide? Are there any (easy to use/process) sources showing the average length of time since previous sale within Land Registry data? So, for all sales in March 2017, what was the average previous sale date. And is this a shorter or longer time frame from previous months/years. I'm not sure what it will show, but think it could be interesting!

I'm always interested in tables like this. To me it begs the question of how far house prices would need to drop so that BTL would make the same money as it does now. So I've run the numbers. The first two columns in the table below, recreate the first and last table from above. The third shows 'net profit after tax' being back to the initial £1,680. To make the same profit, the mortgage interest (and therefore house price) need to fall. With my calcs, prices drop 25% to £262,500 (see below) Now, this ignores the upfront costs and any changes in interest rates, which maverick73's table shows would make the situation worse for the landlord. Hopefully, it should be obvious that these would have a further crippling effect on house prices. The other point to make is that this has assumed constant rental income. The numbers above show that the marginal buyer is less likely to be BTL as the profits don't make sense for them at these prices. So if prices fall, this would encourage those in the PRS to shift to OO. These are more likely to be richer renters (as house prices are still high), so those remaining in the PRS will be poorer, on average, than currently is the case. Because of this shift, constant rental income appears, err, optimistic from the point of view of a BTLer.

It's also where the estate agents that I've shown are closing down in my thread below were based.

Roses are red Violets are blue This agency's gone Boo-f*cking-hoo

Thanks a lot for all the posts on this (and other) threads with this info. Like others on here, I'm finding this incredibly interesting. It's maybe a bit of a naive question, but to what extent could the recent falls in some of these areas be as a result of changes to the profiles of housing stock in the area? Could all the 2 bed flats that are being thrown up all across London be skewing the data as it leaves larger houses as a proportionally smaller chunk of sales?

Some of the debt forgiveness is written in to the T&Cs, I suppose. The stuff below is from the help to buy site. I guess being on the hook for these losses is another reason the govt won't remove any props :-( https://www.helptobuylondon.co.uk/docs/default-source/default-document-library/help-to-buy-buyers-guide-oct-16-v1016.pdf?sfvrsn=0

I think this is nailed on

Come on, just look at the "Reasons to Invest" "Potentially high level of capital growth""Great anticipated rental yield" Here’s a couple more you might enjoy. http://www.rightmove.co.uk/new-homes-for-sale/property-46792671.html Off place re-sale below contract price! BARGAIN! http://www.rightmove.co.uk/new-homes-for-sale/property-55175312.html Asking price down £80k this year, completion due this year.

Oh, indeed. I think all of the factors like this are massively shooting the "purchasing power" of BTL out of the market. Which just leaves OO (and overseas in some places) buyers in the market. Prices are way to high for OO, so transactions have fallen off a cliff. Just need a few BTL forced sales to OO to kick start the falls and then it'll all collapse in on itself. An interest rate rise to counter inflation from the fall in the £ should do the trick, but I'm not holding my breath on it happening any time soon