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Is This Why You Can’T Buy Your First London Home?

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http://www.standard.co.uk/lifestyle/is-this-why-you-cant-buy-your-first-london-home-8629071.html

Alex Weekes, 26, was until last year an agent at the firm, Ludlow Thompson — a major property player which claims to have let and sold £1 billion worth of property in London in 2012. Buyers chasing popular properties have long suspected that they are being outfaced by wealthy investors for the homes they want. But Weekes’s story, and investigations by the Standard, can reveal that agents have responded to the booming rental market by making investment buyers a conscious priority over ordinary buyers looking to own and occupy.

“They showed us why it is better to sell to landlords who you can then rent the flats or houses for,” says Weekes. “The idea was that we would manage the property, which gets higher fees and means we know when it is going on the market again. It worked really well, I know that there were more properties to instruct.”

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It's been going in for a long time. When my current rented flat was completed around 2000 the developers targeted investors abroad.

Hardly of the 50+ flats are occupied by UK based owner occupiers. My LL is unusual in that he based in the UK.

My last rented flat was owned by a Swiss company. One before that by an investor in South America (I've forgotten where).

Whenever I looked at flats in the South East I was up against the investor from abroad and the UK BTL. Even the agents treated us as second class.

Edited by Flopsy

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  • 242 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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