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I`m guessing most areas have a typical BTL area within the town/ city/post code area

I just searched the fist 6 pages 10 listing per page /lowest price first just the post code area i ignored the first page as most were commercial/residential leases for sale

So out of the first 50 place for sale there were only six that had visible sings of someone living there ie:furniture

Some may be probate some may be repossession only one had the tell tale sings of a repo my guess is most are BTL

44 out 50

Looks like they have woke up and smelt the coffee,they just need to drop the prices before they can drink it though

What are you seeing

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2012 bargains were to be had,sellers would take very down in the mouth bids,no one really buying,2013 2014 everything selling quick full asking prices being made 2015 houses stalling,big drops ( 2 bed bung needing work on at 139k then within 6 weeks 129k no takers,biggest problem saving rates,when I STR (Nov 2007) I was getting 6.5% on my pot its now dwindled to 1% thats why I bought a place to live in and 3 BTL's,all bought run down needing refurbing all bought at 2002-2004 prices,I dont trust banks,dont see how a govt that owes billions can bail them out,the FSA ad they keep running on loop on my local radio "how your savings are potected etc" is,for me, a warning sign !!

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Problem with asking for peoples' experiences on a forum is that the responses are going to be very anecdotal. But, since you ask: During 2013/14 I would say most of the sellers in the areas I was looking at were taking the mick but even so there were a handful of actually nice places which were (just about) within my price range. Fast forward to now and the nice places have all dried up and the chancers* have raised their prices. Interestingly the smaller & more realistic estate agents seem to have left the market and a lot of places are now being listed with the likes of Robinson Jackson.

Also around where my parent lives, the local estate agents have been putting flyers though the door soliciting for business. Prices have otherwise been static although the sh*thole 2-bed house converted to 2 x 1-bed flats didn't meet it's £130k asking price. It eventually went for £100k which was still far too much IMO.

* Local knowledge has been very helpful; prices in the scum zones are about the same as prices in the better areas and I suspect local expectations either haven't yet changed or are being artificially propped by estate agents.

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Oh and one other thing: I'm seeing BTL properties being listed with tenants in situ. Not nice places in not nice areas (funny that) but it was quite a surprise to see them again after all but disappearing post 2009.

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Oh and one other thing: I'm seeing BTL properties being listed with tenants in situ. Not nice places in not nice areas (funny that) but it was quite a surprise to see them again after all but disappearing post 2009.

I'm seeing this too. For some purpose/unusual property too, not just the old big building turned into a flop house.

http://www.rightmove.co.uk/commercial-property-for-sale/property-48996652.html

8, count them, 2 bedders, all in a row - Yes that is a windmill in the background.

795k (ha ha ha ha ha ha ha ha)

40k income - to thats 5k/year per house = 450/month.

The buildings look very new. And very very small.

What would a 790k mortgage cost - about 40k/year.

The BTL stuff is new to the stuff Ive been seeing for the last 6 odd years - empty probates and empty holiday homes see my N Yorks/Whitby posts.

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two examples from York that have been added to RM in the last day or so, the second with 10%+ gross yield

*** SUBSTANTIAL SEVEN BEDROOM HOUSE LOCATED IN THE HIGHLY DESIRABLE LOCATION OF STOCKTON LANE. IDEAL INVESTMENT OPPORTUNITY CURRENTLY LET TO SEVEN TENANTS AND ACHIEVES £2,250 PCM. ***

http://www.rightmove.co.uk/property-for-sale/property-33594018.html

---

currently let as six en-suite bedrooms to young professionals with a gross income of approximately £39,000 per annum.

http://www.rightmove.co.uk/property-for-sale/property-49015297.html

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Not sure about the HMOs.

I know most councils have really tightened up the rules + cost of compliance.

York has a bit of a problem. Leeds has a massive problem.

I think HMOs, like BTL, have been grossly over-sold to idiot would-be LLs who are finding out the work required is high and the returns.

I'm not sure who'll they'll sell to. Most banks + BSs run away from HMOs - for pretty good reasons.

Also, I think any OO is wise to apply a 20%-30% ex-rental discount to any hosue that has been let for more than a year.

In my experience, most ex-rentals need the insides gutting + windows + doors replacing.

Not really down to the tenant, more the LLs who have failed to maintain their property.

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two examples from York that have been added to RM in the last day or so, the second with 10%+ gross yield

*** SUBSTANTIAL SEVEN BEDROOM HOUSE LOCATED IN THE HIGHLY DESIRABLE LOCATION OF STOCKTON LANE. IDEAL INVESTMENT OPPORTUNITY CURRENTLY LET TO SEVEN TENANTS AND ACHIEVES £2,250 PCM. ***

http://www.rightmove.co.uk/property-for-sale/property-33594018.html

---

currently let as six en-suite bedrooms to young professionals with a gross income of approximately £39,000 per annum.

http://www.rightmove.co.uk/property-for-sale/property-49015297.html

The second one:

'The property has been upgraded and maintained to a very high standard is set within this popular residential area an is currently let as six en-suite bedrooms to young professionals with a gross income of approximately £39,000 per annum.'

That's not a 6 bedroom house. Its a four bedroom with the lounge and (old) kitchen converted into bedrooms.

The (new) kitchen looks like one for a 2 bedroom flat, not for a house with 6 individuals in it.

The sitting room likes like a conservatory that has had a sofa put in it.

I'd love to see all 6 en-suites - a bucket full of water and a flannel I'd guess.

'approximately 39k/year, 3k/month. Six people, willing to pay 6k each to live in a tiny HMO? Fck off.

Without even trying, here's a 6 bed rooms rental for 2k month (24k/year):

http://www.rightmove.co.uk/property-to-rent/property-34050411.html

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Not sure about the HMOs.

I know most councils have really tightened up the rules + cost of compliance.

York has a bit of a problem. Leeds has a massive problem.

I think HMOs, like BTL, have been grossly over-sold to idiot would-be LLs who are finding out the work required is high and the returns.

I'm not sure who'll they'll sell to. Most banks + BSs run away from HMOs - for pretty good reasons.

Also, I think any OO is wise to apply a 20%-30% ex-rental discount to any hosue that has been let for more than a year.

In my experience, most ex-rentals need the insides gutting + windows + doors replacing.

Not really down to the tenant, more the LLs who have failed to maintain their property.

You are correct about York - and at least one local HMO LL has been prosecuted, found guilty, appealed and is now £10k+ out of pocket

http://www.yorkpress.co.uk/news/11751470.Landlord_loses_licence_appeal/

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two examples from York that have been added to RM in the last day or so, the second with 10%+ gross yield

*** SUBSTANTIAL SEVEN BEDROOM HOUSE LOCATED IN THE HIGHLY DESIRABLE LOCATION OF STOCKTON LANE. IDEAL INVESTMENT OPPORTUNITY CURRENTLY LET TO SEVEN TENANTS AND ACHIEVES £2,250 PCM. ***

http://www.rightmove.co.uk/property-for-sale/property-33594018.html

---

currently let as six en-suite bedrooms to young professionals with a gross income of approximately £39,000 per annum.

http://www.rightmove.co.uk/property-for-sale/property-49015297.html

If they are so lucrative, why are they selling?

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two examples from York that have been added to RM in the last day or so, the second with 10%+ gross yield

*** SUBSTANTIAL SEVEN BEDROOM HOUSE LOCATED IN THE HIGHLY DESIRABLE LOCATION OF STOCKTON LANE. IDEAL INVESTMENT OPPORTUNITY CURRENTLY LET TO SEVEN TENANTS AND ACHIEVES £2,250 PCM. ***

http://www.rightmove.co.uk/property-for-sale/property-33594018.html

---

currently let as six en-suite bedrooms to young professionals with a gross income of approximately £39,000 per annum.

http://www.rightmove.co.uk/property-for-sale/property-49015297.html

Second one last sold in April 2014 for £190,000. Two extra bedrooms somehow squeezed in, back on market for nearly double.

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[quote name="spyguy" post="1102690710" timestamp="142728

Also, I think any OO is wise to apply a 20%-30% ex-rental discount to any hosue that has been let for more than a year.

In my experience, most ex-rentals need the insides gutting + windows + doors replacing.

Not really down to the tenant, more the LLs who have failed to maintain their property.

To be fair, if a flat after being rented for two years needs to be completely gutted and to have all its doors and windows replaced, then that's the fault of the tenant, not the landlord.

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To be fair, if a flat after being rented for two years needs to be completely gutted and to have all its doors and windows replaced, then that's the fault of the tenant, not the landlord.

Sort of. Maybe not 2 years but 5+.

Most LLs tend to buy the cheapest, wreck of a place, slap some paint on and put some cheapo furniture in.

Seriously, I can tell a rented house from an OO house.

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To be fair, if a flat after being rented for two years needs to be completely gutted and to have all its doors and windows replaced, then that's the fault of the tenant, not the landlord.

I don't understand this

That's the landlords responsibility for getting sh#te tenants then

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