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Bbc Rerunning Homes Under The Hammer

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I noticed that the BBC has started showing shortened versions of HuTH programmes recorded in 2007:

Homes Under the Hammer - Series 8 (Reversions) - Episode 17

Broadcast on BBC Two, 12:20PM Sat, 11 Jun 2011

http://www.bbc.co.uk/iplayer/episode/b01214c4/Homes_Under_the_Hammer_Series_8_%28Reversions%29_Episode_17/

Property porn is gracefully ageing into property nostalgia?

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Desperate VI propaganda from an institution financed by your tv license payments (I never paid them a penny and never will).

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I noticed that the BBC has started showing shortened versions of HuTH programmes recorded in 2007:

http://www.bbc.co.uk/iplayer/episode/b01214c4/Homes_Under_the_Hammer_Series_8_%28Reversions%29_Episode_17/

Property porn is gracefully ageing into property nostalgia?

...another reason why the BBC should be shut down....why do these overeducated trendy lefties work there..?....do they have no pride....or ethics.... :rolleyes:

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Is it an old one, or just a project that took years?

I watched one the other day, bloke bought a wreck next door to knock down and turn into two house (2005ish) planning refused so had to build one, by then(2010) selling would only break even (ignoring 5 years interest on 400K), so had to rent it out.

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Is it an old one, or just a project that took years?

I watched one the other day, bloke bought a wreck next door to knock down and turn into two house (2005ish) planning refused so had to build one, by then(2010) selling would only break even (ignoring 5 years interest on 400K), so had to rent it out.

No, I watched the programme and in both cases the buyer bought in 2007, did it up, and had it revalued in 2007.

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They also had two repeats on yesterday of Escape to the Country.

One on BBC1 and the other on BBC2

Edited by pajd

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Desperate VI propaganda from an institution financed by your tv license payments (I never paid them a penny and never will).

More a case of filling up the schedules with 'wallpaper' repeats.

Personally I find it quite amusing to watch 2007 HUTH - they do give dates of auctions and valuations. Good to see the odd case of developers buying at the peak of the bubble and then finding after planning delays etc. that the profit they thought was going to be a piece of p*ss has melted away before their eyes.

And contrary to what a lot seem to think, a number of punters are just looking for a family home.

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Is it an old one, or just a project that took years?

I watched one the other day, bloke bought a wreck next door to knock down and turn into two house (2005ish) planning refused so had to build one, by then(2010) selling would only break even (ignoring 5 years interest on 400K), so had to rent it out.

I saw that one too. The smile on my face lasted several hours.

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I noticed that the BBC has started showing shortened versions of HuTH programmes recorded in 2007:

http://www.bbc.co.uk/iplayer/episode/b01214c4/Homes_Under_the_Hammer_Series_8_%28Reversions%29_Episode_17/

Property porn is gracefully ageing into property nostalgia?

They are still filming new shows the blond was filming a flat in Lytham St Annes last week. I bet she does not mention it was part of a massive mortgage fraud in 2007, the price it sold for then over £200,000 sold at auction in May 2011 about £70,000 they never tell the real story.

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No, I watched the programme and in both cases the buyer bought in 2007, did it up, and had it revalued in 2007.

The saturday program was an oddity.

I guess they just had a slot in the timetable to fill

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I would consider nailing off an email of complaint seeing as though these repeats mislead (certain) people massively as to the state of play in the housing market. Then again it just strikes me as tragically funny. VIs should be pitied, the inevitability is crushing.

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Had no work this morning so had tv on in background and WOW todays HUTH was a peach.

2 sisters aged late teens and early twenties were buying their first investment flat in Kent. They were pretty girls. They looked so young maybe they should be going out with their friends, going to concerts, buying cosmetics, travelling through Europe/Asia , buying clothes .........but not property!!!

Didnt catch the date of the auction or how much the flat had soared up in value within 2/3 or 6 months of the auction date.

Then best ever HUTH segment ever - some wannabee Rachman bought a house up in north to rent out but was going to do it without installing a new kitchen or bathroom as he would not get a return on it for at least 5 years. Okay sound reasoning behind that decision however the kitchen was like out of a museum on how cave people prepared + cooked food....

Then later in the update unbelievebly it showed his newly installed tenants who had replaced the bathroom and as soon as they had the corn they would fit a new kitchen out of their own pocket! I laughed at the tv screen firstly as it was hilarous and secondly it reminded of my friends (letting agent) anecdote where a German Tenant took on a flat in SW London asked the LL for permission to install a heavy duty wooden floor. This floor was paid and laid by the German Tenant and it replaced the rotten old carpet. Come a years time the LL jacked up the rent massively as according to him the new floor had increased the rental value + the Tenant could not afford it and had to move

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I love the way they quote the 'profit' made on the estimate an estate agent gives.

It's only a ******ing profit if sold for that amount.

They have started saying 'after costs' now - they never used to.

I find it entertaining, and you do (still) get some proper landlords on there that know the game. Not many, though.

And I'd bang that annoying female - all over the small, but nice garden.

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Had no work this morning so had tv on in background and WOW todays HUTH was a peach...

Have to agree that yesterady's HUTH was exceptional.

The guy at the end (watch from 38:50) is worth watching.

http://www.bbc.co.uk/i/sz0t8/?t=38m50s

In summary:

1) Started flipping when property market was "buoyant" back in 2006.

2) Ran into problems and got stuck with 4 which he couldn't sell

3) ZIRP saved his bacon and he let them out as he admitted they were "heavily financed"

4) Rather than taking that as a warning, he piled the rental income into BTL at the rate of 1 a month :blink:

5) Now has 50+

He indirectly said that ZIRP had bailed him out, and now seems to be basing his entire strategy on ZIRP. Massive risk !! Then in Martin's 30 second summary he refers to the buyer as being "successful" three times (from 42:48), but I have no idea what his definition of success is (perhaps becoming a debt loaded, FTB depriving, rent seeker?). Genuinely shocking even by HUTH standards, and how has he managed to get 50 odd BTL mortgages since peak ?

http://www.bbc.co.uk/i/sz0t8/?t=42m48s

Edited by ScrewsNutsandBolts

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Have to agree that yesterady's HUTH was exceptional.

The guy at the end (watch from 38:50) is worth watching.

http://www.bbc.co.uk/i/sz0t8/?t=38m50s

In summary:

1) Started flipping when property market was "buoyant" back in 2006.

2) Ran into problems and got stuck with 4 which he couldn't sell

3) ZIRP saved his bacon and he let them out as he admitted they were "heavily financed"

4) Rather than taking that as a warning, he piled the rental income into BTL at the rate of 1 a month :blink:

5) Now has 50+

He indirectly said that ZIRP had bailed him out, and now seems to be basing his entire strategy on ZIRP. Massive risk !! Then in Martin's 30 second summary he refers to the buyer as being "successful" three times (from 42:48), but I have no idea what his definition of success is (perhaps becoming a debt loaded, FTB depriving, rent seeker?). Genuinely shocking even by HUTH standards, and how has he managed to get 50 odd BTL mortgages since peak ?

http://www.bbc.co.uk/i/sz0t8/?t=42m48s

I happened to see that yesterday. The guy was an absolute wally.

I imagine there are a lot of people out there like this. When interest rates rise, it is really going to hit people like this. He couldn't afford the mortgage on 4 properties, just wait until he has to pay it on 50.

It really shouldn't be legal for people with a complete lack of common sense to rack up 50 properties anyway. It's hardly fair on the tennants when he gets's repossesed and they have to find another home.

Edited by hpc-craig

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It really shouldn't be legal for people with a complete lack of common sense to rack up 50 properties anyway. It's hardly fair on the tennants when he gets's repossesed and they have to find another home.

For that reason I would like to see an end to BTL mortgages.

If this happens then there will be sharp reduction in Amateur Landlords appearing on HUTH wanting to turn their newly acquired 1970s timeward into 'a rental machine' . :rolleyes:

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He indirectly said that ZIRP had bailed him out, and now seems to be basing his entire strategy on ZIRP. Massive risk !! Then in Martin's 30 second summary he refers to the buyer as being "successful" three times (from 42:48), but I have no idea what his definition of success is (perhaps becoming a debt loaded, FTB depriving, rent seeker?). Genuinely shocking even by HUTH standards, and how has he managed to get 50 odd BTL mortgages since peak ?

Banks have been throwing money at BTL again, easier and cheaper to repossess and throw out occupants in rentls - maybe they think they can hive off such portfolios into REITs which they are trying to fire up again. Banks also get to satisfy their lending to "business" mandate. Meanwhile the overall ZIRP policy destroys savings and earnings, discretionary expenditure collapses, BTL mongers spend next to ****** all on a bit of magnolia, Focus (with others to follow) go to the wall 0 amazing when you think this is right in the middle of the chucking billions at the economy.

The misallocation of capital and skewed investment consitnues in the UK whilst it slides insutrially into obvlivion.

Well done Mervyn Kunt et al.

Edited by OnlyMe

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It really shouldn't be legal for people with a complete lack of common sense to rack up 50 properties anyway. It's hardly fair on the tennants when he gets's repossesed and they have to find another home.

So true... if the lending market doesn't prevent this kind of risk being then the law should.

What really p1sses me off though, is how behaviour such as this is praised so readily on HUTH. Where is the critical summary ? His old (failed) business model of flipping was saved by ZIRP. What will save his new ("successful") business model of BTL when ZIRP stops ? Where is the mention of risk ?

Another example would be the two girls on the show, who make a potential 14 grand profit "minus the usual deductions".

The inference is that those "usual costs" are not significant, but I would say:

1) Bought for 235k so 2.35k stamp duty paid.

2) 1 month to renovate, plus realistically 2 months to exchange to a buyer, so three months mortage or lost opportunity on captial, let's say 2.5k

3) EA fees for selling, no experience of this but I guess around one percent so another 2.35k.

So that's already half of the "profit" gone, then there is income tax on the remaining 7k (and that assumes they get the 250k that was suggested). I would stick with engineering.

http://www.bbc.co.uk/i/sz0t8/?t=48m35s

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The misallocation of capital and skewed investment consitnues in the UK whilst it slides insutrially into obvlivion.

Well done Mervyn Kunt et al.

Yeah they are not asleep at the wheel they are smoking a crack pipe at the wheel.

Still so long as the rich get richer and the poor get to enjoy serfdom all is well...

The fact the BBC are digging up 3-4 year old footage from a completely different housing market era says it all.

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i complained to the ITC about this and was fobbed off. they get out of it by having a 2 second flash frame saying (first broadcast in 2007). this was moonths ago when it was pissing me off.

of course, i was overruled. making me even more cynical.

eitherway. which knobs have 30k deposit to put on a slavebox with jobs looking shaky. no matter what they put out it doesnt really have a worthwhile audience. i preferred dales supermarket sweep, when ripping off the young wasnt on the agenda of morning tv.

3ankers.

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it reminded of my friends (letting agent) anecdote where a German Tenant took on a flat in SW London asked the LL for permission to install a heavy duty wooden floor. This floor was paid and laid by the German Tenant and it replaced the rotten old carpet. Come a years time the LL jacked up the rent massively as according to him the new floor had increased the rental value + the Tenant could not afford it and had to move

Ha, I know an Austrian who redecorated her north London flat out of her own pocket when she moved in about a year ago. I guess it's an attitude bred of living in secure rentals in their home countries. They'll soon learn!

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Ha, I know an Austrian who redecorated her north London flat out of her own pocket when she moved in about a year ago. I guess it's an attitude bred of living in secure rentals in their home countries. They'll soon learn!

i managed to rent a huge farmhouse for £550. last tenant 11 years.

i dont give a shit now, im going for 5x leverage on spread betting and then early retirement.

i dont care if it goes sour. ill just ******off with the gold i have stashed.

everyone else doesnt seem to give a shit. after all. its just your tax money im losing.

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HUTH yesterday (filmed 2009) was both a gem of a, and at the same time, an awful programme.

The two girls were praised as young property developers. "Property developers" my *rse. They merely got some money from Mum&Dad, bought a house for market price (needed very little work), got some decorators in (all they did is "clean" - well one did, and she moaned that the decorators kept making a mess!!), and now rent the place out. That is merely buying a house and renting it out. Not property development!! No profit, understandably, as there was no actual improvement to the house and they paid a normal price at the auction. The £14k profit HUTH gave them was utter twaddle.

If I ever appear on HUTH (won't be in the next 12 months!) and they give an outrageous profit forecast I will point it out. They'll probably stop me or not show it on TV, but there you go.

As for the bloke with 59 houses or whatever... Jesus Titty-F*cking Christ Pole Dancing. I had to pause iPlayer several times and draw a deep breath as the story unfolded. Apparently the old strategy of buying and selling quickly for a profit wasn't working. (It would of course still work if 1) he wasn't relying entirely on mortgage finance, 2) he actually improved his properties substantially, and 3) he didn't price his properties greedily high when coming to sell, probably a requirement considering the mortgage financing though.) And his new strategy. Buy-to-let big style!! I am starting to think that the BTL bonanza that continues is merely a way of keeping the housing market up. Of course when interest rates rise the BTLers are doomed. But the BoE are making sure that's not for as long as possible.

Anyway, less than 5 minutes to go until our next dose of HUTH on BBC One!! :lol:

Edited by Mr Deflation

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