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SarahBell

Local Landlord Does It Again

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Last house that was for sale on my street has appeared on houseprices. 130k - sold to the landlord who's slowly buying up the street.

he rents it out for 600 a month,

It was for sale at £110k so he really is propping his own property prices up

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Last house that was for sale on my street has appeared on houseprices. 130k - sold to the landlord who's slowly buying up the street.

he rents it out for 600 a month,

It was for sale at £110k so he really is propping his own property prices up

How strange.

I woner if he's done a 'cashback' deal with the seller... he pays them £130k, thus propping up the recorded sale price, and gets £20k back from them.

It's possible...

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There was someone else interested in it (relative of person selling) but the LL is determined to own all of the properties along one side of the street so I suspect he paid an insane amount just to ensure he got it.

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There was someone else interested in it (relative of person selling) but the LL is determined to own all of the properties along one side of the street so I suspect he paid an insane amount just to ensure he got it.

I wouldn't call the price particularly 'insane'. It's a 5.5% gross return.

The house I rent is currently Zoopla'd at approx £340k, I think realistically it should be more like £300k. I pay £800/month rent. That's 3.2% gross return...

Edited by schmunk

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  • 149 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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