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Btl Gone Bad?

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This auction seems suspiciously like the disposal sale of a collapsing BTL empire - thought there's no evidence of adminstrators. Could be disposal by a housing trust?

http://www.willmotts.com/index.php?option=...&Itemid=104

All Manchester area

Lots 41-51

Lots 65 -78

Also Croydon area - showing similar concentrations

The ones that I looked at were bought in 2004 at about 20% below the current guide.

Perhaps someone getting out before it gets worse!

Though the fact that they are all empty at the same time is odd.

Would be interesting to see if they reach the guide prices

Pity that I can't afford 20A

tim

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The ones that I looked at were bought in 2004 at about 20% below the current guide.

Perhaps someone getting out before it gets worse!

Though the fact that they are all empty at the same time is odd.

Would be interesting to see if they reach the guide prices

Pity that I can't afford 20A

tim

One of the few BTL's which I suspect would still be an earner in five years from now. The auction scene does seem to have gone very quiet - QE has transformed it. Late last year it presaged a full-scale rout for BTL - nowadays they may be hanging-on but anyone who bought after 2001 must be questioning the rationale of it all.

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I knew a lot of people who bought speculatively in odd parts of Manchester based on where they thought the tram system might be extended to. A lot of people bought in Wythenshaw when it was believed the metro system would be extended to the airport.

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I knew a lot of people who bought speculatively in odd parts of Manchester based on where they thought the tram system might be extended to. A lot of people bought in Wythenshaw when it was believed the metro system would be extended to the airport.

They were clearly subscribing to the "once the new transport infratructure's in place prices are bound to rise" school of economics.

This is a fallacy - once the tram reaches Wythenshaw people can escape the place - thus causing prices to plummet.

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They were clearly subscribing to the "once the new transport infratructure's in place prices are bound to rise" school of economics.

18 months ago I rented a very nice 2 bed place in Canterbury, walking distance from West station Cost 675 pm.

This week, there's one available in the same block, but with a lounge half the size of mine and because the express train service has now started they are asking 850.

Odd thing is, it's an obvious student "pad" with the storage area made into an extra bedroom.

tim

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18 months ago I rented a very nice 2 bed place in Canterbury, walking distance from West station Cost 675 pm.

This week, there's one available in the same block, but with a lounge half the size of mine and because the express train service has now started they are asking 850.

Value that you helped add as taxpayer has gone to this landlord in the higher rents he can now charge as a result of the work your taxes did. He gets to passively collect value created by your tax, as a freebie in his raised rents.

A welfare program for the wealthy.

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Cough cough I had some semi involvement with such individuals with such empires , anything else would be revealing the truth.

But you are correct in 2006-07 many SIPPs sort of clubbed together to make semi housing associations to put BTL into their pension pots kind of , by 2009 as I was leaving accountancy industry many of these things were utterly falling apart, hot dog sellers with 300K in debt from mortgages who kept stealing our biscuits as so much of their income was put on servicing debt.

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