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Keeping an eye on auctions in my area, one of the local houses has put around 140 listings in Liverpool alone up today, many of which are currently tenanted HMOs. The next auction is on 11th Feb. A taste of things to come perhaps, and there are other auctions next month too from different firms, one of which was offering incentives to landlords to sell up.

http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=BRANCH^72919&previousSearchLocation=Sutton+Kersh+Auction%2C+Liverpool+-+Auction&useLocationIdentifier=false&savedSearchId=&displayPropertyType=&minBedrooms=&maxBedrooms=&minPrice=&maxPrice=&maxDaysSinceAdded=1&_includeSSTC=on&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false&retirement=&partBuyPartRent=&businessForSale=&sortByPriceDescending=&sortType=&viewType=&numberOfPropertiesPerPage=50#prop39261291

Some of these properties are exactly the sort of thing I'd consider picking up and reverting back to a family home, for the right price. I sure as hell would not be doing any landlord's dirty work by taking on a currently tenanted house though.

I really fail to see where the attraction for a potential leveraged BTLer is in these properties, at these prices. We'll see what happens, but it is 'game on' imo. Leveraged types hoping for a judicial review etc are just wasting time imo.

Edited by The Knimbies who say No

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(Edit- this was in reply to 999house)

Many factors at play, but I'm not trying to make a local point per say. I hope this thread can evolve into one where people can see if similar things are happening in their areas too.

FWIW, the entirety of merseyside has around 300 auction properties for sale, of which half were added today. I've not seen so many currently tenanted ones up for sale before.

Hopefully it will result in pricing carnage as more people wise up to the exit route. I mean, if high-yielding HMOs are being sold, what chance anyone else?

Edited by The Knimbies who say No

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Knimbies, if you want to be the vanguard of turning HMO-ville into real communities again then I raise my hat to you.

Well, it is (like most of my aspirations concerning housing) a pipe dream at present, but definitely a consideration. Partly narrow self interest- are repossession auction sales more likely, avoiding having to deal with Mad Gainz vendors?

It would be satisfying to play a small part in literally eradicating the traces of HMO daddy exploitation in one small place. I'm doing nothing anytime soon however, unless something really special happens to prices in the near future. I expect that many of these places could potentially remain unsold at kite-flying prices so long as the tenants remain, hopefully the supply will build and the impending tax changes looming ever larger will get a few shitting bricks and the fun begins.

Edited by The Knimbies who say No

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Many factors at play, but I'm not trying to make a local point per say. I hope this thread can evolve into one where people can see if similar things are happening in their areas too.

FWIW, the entirety of merseyside has around 300 auction properties for sale, of which half were added today. I've not seen so many currently tenanted ones up for sale before.

Hopefully it will result in pricing carnage as more people wise up to the exit route. I mean, if high-yielding HMOs are being sold, what chance anyone else?

The buying side is key ,auction were always the hunting ground of the BTLers and developers who will all be liable to a 3% tax and the obvious for BTL

Edited by long time lurking

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The buying side is key ,auction were always the hunting ground of the BTLers and developers who will all be liable to a 3% tax and the obvious for BTL

Wont the value of property lower by the amount of negative cashflow that the new tax regime creates?

Just like 20% help to buy has increased the average house price by 20% since it was brought in, the negative cash flows should net of the overall value?

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Wont the value of property lower by the amount of negative cashflow that the new tax regime creates?

Just like 20% help to buy has increased the average house price by 20% since it was brought in, the negative cash flows should net of the overall value?

It`s anyone's guess ,but if BTL stops buying there goes a large part of the demand when it comes to auctions ,ultimately the buyer sets the price not the seller

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Good reading Knimbies - really good market info.

And that's a burst of listing activity, with a lot of it at lower price-end of the market, in a regional market where there hasn't been as much HPI compounding - no offence to your target area for purchasing a home. Yet something has spooked sellers here to come to market, or auction at least. A reduction in generous tax-perks? S21s tilted recently a bit more to tenant side? Licensing and licensing costs? (if applies here). LHA cuts? Fear of falling prices? Ah, and the 3% stamp duty hike for BTLers from 1st April....

If you're going to panic sell, panic first. There's a question forming in my mind about so many lower-end/priced houses (no offence) coming to market/auction, but not yet fully formed. The why from the owners/sellers - it's unlikely to be the mega-gainz for many of those house, but if a landlord owns a few, it might all add up. It wouldn't surprise me if the auction does see some BTLers bidding hard with April stamp-duty in mind, what with bricks n mortar forever hpi still in their minds.

When this market turns, I suspect it will really turn.

All the extreme-valued HPI compounded BTLs in low-mid-high prime areas. Surely now some BTLers are going to look at what they could gain by selling up, before another BTLer comes to market thinking the same, but willing to accept lower offer (bringing all values down). BTLer stock, and older owner housing stock...

How can such high pricing not bring out many more sellers, keen to get some of the action? A generally accepted theory is perceived high prices should bring out more sellers. I don't know how owners can resist, even if they 'love' their homes. Fortunes potentially if they get a sale.

What annoys many people is rachman - like many in London - are literally lottery winners. (Being given £1-1.5 million pounds fir nothing can most definitely be classed as a lottery win)

And are not even cashing it in !!

There is also the belief that they are somehow deserving of it - which is ********. Ask any if them to take 10k and make it into the same money in 15 years from now - and 99.9% of them will fail. Simple as that.

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Well, it is (like most of my aspirations concerning housing) a pipe dream at present, but definitely a consideration. Partly narrow self interest- are repossession auction sales more likely, avoiding having to deal with Mad Gainz vendors?

It would be satisfying to play a small part in literally eradicating the traces of HMO daddy exploitation in one small place. I'm doing nothing anytime soon however, unless something really special happens to prices in the near future. I expect that many of these places could potentially remain unsold at kite-flying prices so long as the tenants remain, hopefully the supply will build and the impending tax changes looming ever larger will get a few shitting bricks and the fun begins.

It's sort of inconceivable as I can see not think of anything other than bad things. People hanging on for crushed margins to increasingly unstable and marginalised tenants cutting corners wherever possible neglecting duties that cost money - referencing, services and maintenance. Sounds like a hell of a storm brewing. Idiots ruining more lives.

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Keeping an eye on auctions in my area, one of the local houses has put around 140 listings in Liverpool alone up today, many of which are currently tenanted HMOs. The next auction is on 11th Feb. A taste of things to come perhaps, and there are other auctions next month too from different firms, one of which was offering incentives to landlords to sell up.

http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=BRANCH^72919&previousSearchLocation=Sutton+Kersh+Auction%2C+Liverpool+-+Auction&useLocationIdentifier=false&savedSearchId=&displayPropertyType=&minBedrooms=&maxBedrooms=&minPrice=&maxPrice=&maxDaysSinceAdded=1&_includeSSTC=on&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false&retirement=&partBuyPartRent=&businessForSale=&sortByPriceDescending=&sortType=&viewType=&numberOfPropertiesPerPage=50#prop39261291

Some of these properties are exactly the sort of thing I'd consider picking up and reverting back to a family home, for the right price. I sure as hell would not be doing any landlord's dirty work by taking on a currently tenanted house though.

I really fail to see where the attraction for a potential leveraged BTLer is in these properties, at these prices. We'll see what happens, but it is 'game on' imo. Leveraged types hoping for a judicial review etc are just wasting time imo.

You'll never make headline writer for the Sun will you

http://www.housepricecrash.co.uk/forum/index.php?/topic/208083-the-world-famous-b-t-l-rats-deserting-the-sinking-property-market-ship-thread/

Merge ?

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I haven't noticed any dumping of BTL stock. There are a few coming on to the market, slight increase from December, but only what I'd expect for January.

What I have noticed is this. Typical BTL houses coming onto Rightmove - only one picture taken from a distance, nothing internal etc, or has several photos but clearly vacant inside. In each case, the local EAs used to advertise these as "Ideal investment property".

That phrase has almost vanished. At best, you see "Ideal first time buyer or investment property", but my favourite of this morning was:


This is sure to be extremely popular with FIRST TIME BUYERS. DO NOT DELAY!

Looks like the BTL buyer pool has already evaporated. Those looking to sell everything now might just find they should have done it 6 months ago.

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Funny how some people still see Mad Gainz potential.

Offered at 175k in May for an auction in June 2015:

http://www.zoopla.co.uk/property-history/47-arundel-avenue/liverpool/l17-3by/36762335

It sold for 195k at that auction 3rd June 2015:

http://www.suttonkersh.co.uk/auctions_details.php?id=9277&sf=auctions

Now back up for sale at 275k, reverse ferret on behalf of LL trying to extract him/herself with a tidy sum despite having done jack all?:

http://www.rightmove.co.uk/property-for-sale/property-39294576.html

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