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John Francis Swansea

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An unusually large number of HMO / investment properties in the Uplands and Brynmill area of Swansea have been listed on their website within the last few days!

Could there be some in-house offloading going on? ;)

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An unusually large number of HMO / investment properties in the Uplands and Brynmill area of Swansea have been listed on their website within the last few days!

Could there be some in-house offloading going on? ;)

Could the BTL brigade be waking to the fact that the govt isnt going to fund micky mouse degrees anymore = fewer student renters and getting out before the rest. ( Its happened in Bristol but that was due to private sector/universities tie up on housing, office blocks converted into student flats) :D

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I am glad I am not the only one who has noticed this.

About 3 days ago numerous 3 storey houses in Brynmill/Uplands began appearing on various property websites. I noticed a few are with JF but there are other EAs listing.

Like you, I assumed that it is HMO BTL landlords bailing out.

It is a little known fact that June is the sign-up time for students with most HMOs running their contracts from June to May of each year - they get the students signed up in advance of the new term and make them pay half price throughout the Summer, assuming the students do not live there, in order to 'keep their room'.

The problem now, re uni fees, is that there are going to be many HMO landlords for whom the half-price rental months of July, Aug and Sept are the difference between them breaking even and not.

I am told that the uni is fearing a big downturn of Enlgish students coming to Swansea - apart from the 9K a year fees the additional costs of living here will mean that it will cost about 50K to be a student in Swansea.

At the same time local students are going to find it a must to stay at home - even those who live in places like Neath Port Talbot, etc, will find it cheaper to stay at home and commute in.

This is bound to have a knock-on affect on house prices in Brynmill / Uplands - it may even become a lovely place to live in again in about 5 years. The problem is that virtually all the HMOs have been gutted of their Victorian and Edwardian fixtures with nasty fire-doors and other cr*p replacing them.

It will cost a great deal to put an HMO back into a family home - and you ain't going to do that unless the area returns to residential and house prices are half what they are now.

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Could there be some in-house offloading going on? ;)

Ah, in-house? You mean someone in JF? Who knows?

I have talked with several EAs in several of the chains who all got into BTL in a big way. I am convinced this is why certain EAs are desperate not for a drop in house prices as some appear highly leveraged in BTL.

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An unusually large number of HMO / investment properties in the Uplands and Brynmill area of Swansea have been listed on their website within the last few days!

Could there be some in-house offloading going on? ;)

Define 'unusually large number'. Just checked their website and maybe half a dozen or so HMO type properties have been freshly listed in the last week. Looks like someone's offloading but hardly a deluge.Also,judging from SPA's previous comments there are plenty of deluded buyers out there for similar properties in Swansea. My point is such developments have a very limited impact on market sentiment as such as these houses don`t add to the stock of 'family homes' and are usually bought by 'investors' for cash anyway...

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It is very noticeable driving around Brynmill/Uplands now that there are a large number of 'For Sale' signs... but then that is true for many roads in Swansea now...

Had a cup of tea in a Mumbles cafe on Saturday, sat outside and we played the game of counting all the 'For Sale' signs.... I won... everyone else counted the same number in one road... five... but I could just make out the sixth one right at the top of the road... think I had an advantage though... lol

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It is very noticeable driving around Brynmill/Uplands now that there are a large number of 'For Sale' signs... but then that is true for many roads in Swansea now...

Had a cup of tea in a Mumbles cafe on Saturday, sat outside and we played the game of counting all the 'For Sale' signs.... I won... everyone else counted the same number in one road... five... but I could just make out the sixth one right at the top of the road... think I had an advantage though... lol

:lol:

Seriously..you should give up looking to buy and launch a BMV 'cash for houses' outfit instead as you probably have a better knowledge of the local market than most EAs..I would do it just for the pleasure of watching distressed BTL scum quiver in their boots when I tell them their 'investment' is only worth 30% of what they paid for it :lol:

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:lol:

Seriously..you should give up looking to buy and launch a BMV 'cash for houses' outfit instead as you probably have a better knowledge of the local market than most EAs..I would do it just for the pleasure of watching distressed BTL scum quiver in their boots when I tell them their 'investment' is only worth 30% of what they paid for it :lol:

Oddly enough, have chatted with friends about this several times in the past week.

The service I have received from numerous EAs in the city has been appalling. I can think of 2 or 3 who have been very good, others who have been OK, but most I find disgusting.

I have got to the point where I am now seriously thinking of just putting an ad in the Post or knocking on doors advertising that I am looking to buy.

I have seen how Realtors work in the US and they are far more proactive. It is not unknown in the US for a Realtor to go around a house and clean it up just to get a sale.

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In America it is very different though. Most are franchise companies and I doubt they earn a basic wage just commission, so need to sell more.

Maybe that is an idea for the UK :o

The letting agent on the university told all students in January not to look for property early in order to not pay the summer retainers.

Now we will have 100's of students looking to rent late August.

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The letting agent on the university told all students in January not to look for property early in order to not pay the summer retainers.

Now we will have 100's of students looking to rent late August.

Oops.

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In America it is very different though. Most are franchise companies and I doubt they earn a basic wage just commission, so need to sell more.

Maybe that is an idea for the UK :o

The letting agent on the university told all students in January not to look for property early in order to not pay the summer retainers.

Now we will have 100's of students looking to rent late August.

You seem to be concentrating on the student let side of your EA business as I have noticed that your properties for sale have been at 32 for many months including those sold subject to contract. Good luck in getting those student let's filled in August.

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You seem to be concentrating on the student let side of your EA business as I have noticed that your properties for sale have been at 32 for many months including those sold subject to contract. Good luck in getting those student let's filled in August.

We have taken on so many student and residential lettings this year that we have not done anything with the sales side. Had to take on a few staff members this month to handle the large increase in student properties especially managed. Once these staff are able to deal with that I can push on and drive the sales side.

We have taken on a few sales and lost a few, so numbers are about the same although we have 30+ properties for sale that are not actively on the market. They are owned by landlords that do not want to upset tenants. We can sell to anybody, but its easier to sell to BTL'ers and leave the tenant be although many are not ideal for BTL at the moment.

The SSTC properties have dragged out, but one completed today, one is due at the end of next week and one at the end of August. Not too bad to say we have only been selling one property every quarter for the last 18 months. We are now getting sales on the open market rather than just investment stuff.

I've mentioned many times that I am having big issues gaining new instructions due to other EA's still ramping to take instruction before selling all the extra's and then asking vendors to reduce. I refuse to be drawn in to that although we don't sell the extra's. Well not for profit anyway.

With a bit of luck, we will start to push the sales advertising in August and pick up lots of those taken on earlier this year by other EA's plus others new to the market.

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  • 312 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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