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Ultimate Hypocrisy

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I live in London, but was looking to invest in Cambridgeshire BTL. Prices have gone crazy in that area as a specific % of overseas immigrants have been placed in the area. More have been allocated for the New Year. Landlords are buying up anything and then making as many bedroom areas as possible and cramming 7 people in a 3 bed house for example. Only problem is a lovely street is now overcrowded with 7 people, their cars, their visitors and i feel over time it will devalue a whole area. The landlords have no regard for the neighbours or long-term effect their "business" is having on the town. This used to be a town that people moved to retire in!

Many of the visitors are 19 – 25 from Poland etc and very tidy/hard working but it is the actual noise that large groups of people make and people living either side of these rental properties are going crazy and worried that their properties will devalue. Most young people want the odd party now and again, which is great unless you live next door to it! Horror stories are circulating where the 7 in a 3 bed becomes 10 as they sub-let to friends and put mattresses in the lounge/hallway etc. Mattresses have even been found in undeveloped loft spaces!!! The young people are charged £50 per person per week on average by landlord (£100 per double room), so it is cheap but even cheaper to invite your friends and split the rent even further!!! And for the £50 a week they do not expect too much in way of home comforts!

For sale signs are going up all over as more and more vendors want to move out. More landlords are snapping up the properties BTL and driving up prices, so now whole streets will soon be overly crammed with people and eventually these people may want to leave the area and rental market will collapse. Then how much will the damaged properties be worth? (and they are getting wrecked because 10 people in a 3 bedder is heavy traffic)

Is this happening in other areas? if it is then i feel we need to be worried. Anyone experienced this in their town/area.

:lol::lol::lol:

http://community.channel4.com/groupee/foru...41/m/3400056153

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Sod the 3 bedders, by the time all the spare jobs have been absorbed those hooked up to the real cost of living will find that when they get made redundant there is no work that they can profitably do to cover their bills = escalating defaults and it will be the economy that is wrecked.

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plus if theres a bit of a jobs downturn all these people will be on big benefits and your taxes will go direct to the pockets of these slum landlords. if rents rise, so does the housing benefit burden for the rest of us.

still. good to see some owners hurting a bit thanks to btl.

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  • 301 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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