Kyoto Posted September 27, 2010 Share Posted September 27, 2010 I follow LS6 closely, mainly as a barometer of BTL. There are lots of large properties in this area and surrounding - 4 and 5 bedders - for under 110k. If you can get them let out > 10% yields are achievable to the student HMO market. Voids can be an issue due to new private halls of residence etc. So you'd have to price competitively, but even then, I think this must be one of the more appealing BTL markets in the country. I say this having lived there and being very familiar with that student market. Any thoughts? Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 27, 2010 Share Posted September 27, 2010 (edited) interesting web-page of new-build purpose built (or nearly) student and young-prof accomodation, managed on a large scale, brown-field sites on or very near the university campus http://www.accommodationforstudents.com/largerprivatestudenthousing/studentaccommodation_lphs_leeds.asp literally 1000s of rooms in this lot, more secure and closer to college and the city centre than LS6 additionally - would be interesting to know any more about the rumours that Leeds Metropolitan university has money difficulties? Edited September 27, 2010 by Si1 Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 27, 2010 Share Posted September 27, 2010 make that many more than 1000s of students this one is the biggest, a few years old, houses 1600: http://www.leedsmet.ac.uk/accommodation/opal_one_and_two.htm compare this to the Leeds' undergrad (at Leeds uni and Leeds Met uni) undergard populations of c. 30,000 make of that what you will I think yields and voids are important numbers to crunch Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 27, 2010 Share Posted September 27, 2010 (edited) this is interesting: an almost fully let rental HMO: http://www.parklanep...oor=1&three60=0 however, that street, assuming it is a plum location for stoodents, has a price reflecting the £-yield: http://www.rightmove...y-31206368.html (at 230k) - http://www.nethousep...gToSearch=43650 (edit: nah, actually, if you had iffy voids on that, for a decent yield it should nto be worth more than 150k really, not the 230k street price) lots of former landlord properties on the market in more peripheral areas for sub-100k, seem to have, in property bee, descriptions changed from investor-friendly to FTB-friendly description Where I am, LS4, our street is moving from HMOs to couples (still rented) at lower rentals, as HMOs tend to be full one year and empty the next Edited September 27, 2010 by Si1 Quote Link to comment Share on other sites More sharing options...
Kyoto Posted September 27, 2010 Author Share Posted September 27, 2010 (edited) Very interesting Si1. Incredible numbers of those flats. Rough estimate of 7000+ 'units' which is a dent in the student population as you say. They have a reputation for being expensive but it seems the HMO prices have crept up, so the difference isn't as big as it was whilst I studied there. I have heard from another poster that some of the HMO properties are moving in the direction of DSS and social housing. Still, with careful research, I think pockets of value exist here. Most LS6 student houses are really scummy, overpriced, and badly ran, so I think it would be possible to beat the voids if you do your research and price competitively. Edited September 27, 2010 by Kyoto Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 28, 2010 Share Posted September 28, 2010 Still, with careful research, I think pockets of value exist here. Most LS6 student houses are really scummy, overpriced, and badly ran, so I think it would be possible to beat the voids if you do your research and price competitively. I'm sure that's the case Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 11, 2010 Share Posted October 11, 2010 chatted with a Leeds student on the train to Leeds the other day, he said the following 'Leeds uni said (1) there are more rental units in Leeds than there is population to live in them (in a general sense, not just students), and (2) only ever rent UNIPOL-approved property, go for quality for the price (because you can)'. Quote Link to comment Share on other sites More sharing options...
The Ayatollah Buggeri Posted October 17, 2010 Share Posted October 17, 2010 additionally - would be interesting to know any more about the rumours that Leeds Metropolitan university has money difficulties? It's technically insolvent and only being kept afloat by emergency HEFCE money. They borrowed money to invest in a range of the ex-VC's vanity projects, e.g. buying a 50% stake in a rugby team and building a new skyscraper on Woodhouse Lane. The situation was so serious that our V-C was forced to make a public statement a few months ago to the effect that we have no interest in or intention to take the place over, i.e. a merger isn't going to happen (though we might asset strip the one or two decent departments and buildings). NuLab wasn't going to let the Met go under for ideological reasons. If the rumoured 80% cuts in the HEFCE core teaching budget are anywhere near correct, I don't think Leeds Met is going to be around for very long. Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 11, 2011 Share Posted February 11, 2011 (edited) LS4 house prices have jumped in December - sold on nethouseprices - to 100k+, so maybe someone is taking the view Kyoto was proposing I have noticed quite a few baby boomers renovating properties in the streets around me, some apparent recent buys, so maybe there has been some interest sparked by the low valuations in the summer / autumn there's this family thing goes on where you get several generations all renovating a house - I have spoken to some of them and they have very little financial savvy, just asked about some basic numbers, investing etc; amateurs Edited February 11, 2011 by Si1 Quote Link to comment Share on other sites More sharing options...
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