Snugglybear Posted April 6, 2016 Share Posted April 6, 2016 (edited) Oop North we have lots of 'back to back', like the above but in traditional terraced rows. A block of 4 would still be considered back to backs up here. My first house was one, actually wasn't too bad as the basement and loft were converted, like a 2 bed flat but in the vertical I believe "cluster house" is supposed to sound funkier than "back to back". Rather too close to a phrase sometimes used on here, thougn, in my view. Edit: mixing up my phrases Edited April 6, 2016 by Snugglybear Quote Link to comment Share on other sites More sharing options...
MattW Posted April 6, 2016 Share Posted April 6, 2016 A "cluster house", in the UK, is usually a two-storey, one-bed house in a block of four. Think terraced houses but with their backs stuck together, so each house is a corner of the whole building and has windows on only two sides. The property above is not a "cluster house", it's a whole house subdivided into an HMO. Learned something new today- thanks! Here's an overpriced clusterhouse: http://www.rightmove.co.uk/property-for-sale/property-53194162.html Quote Link to comment Share on other sites More sharing options...
Hectors House Posted April 7, 2016 Share Posted April 7, 2016 This is a cluster house, built circa 1994. You really don't get any idea how small this place is! Remember the house is what you see from the front, there is no back! Notice no floor plan! http://www.zoopla.co.uk/to-rent/details/39429697?search_identifier=fe83dc5036ded9d99172119a614d1ae8#KSh617iARLThIIA4.97 Oh this particular one is built on an old colliery site (one of the neighbouring properties is built over a mine shaft! Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted April 21, 2016 Share Posted April 21, 2016 Someone trying to offload a load of BTL carp in leeds, lots 139-151, no bids, lol https://www.eddisons.com/property-search?sale_type=3&guide_price_from=4,000&guide_price_to=4,250,000&auction_location=1&sort=lot_number&order=ASC&page=1&list_map=list Quote Link to comment Share on other sites More sharing options...
Lavalas Posted April 21, 2016 Share Posted April 21, 2016 Someone trying to offload a load of BTL carp in leeds, lots 139-151, no bids, lol https://www.eddisons.com/property-search?sale_type=3&guide_price_from=4,000&guide_price_to=4,250,000&auction_location=1&sort=lot_number&order=ASC&page=1&list_map=list I was just looking at this auction to see how much that water tower went for. Guide price 4K sold for 110k. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted April 21, 2016 Share Posted April 21, 2016 Someone trying to offload a load of BTL carp in leeds, lots 139-151, no bids, lol https://www.eddisons.com/property-search?sale_type=3&guide_price_from=4,000&guide_price_to=4,250,000&auction_location=1&sort=lot_number&order=ASC&page=1&list_map=list BTL carp? Is nothing sacred! Quote Link to comment Share on other sites More sharing options...
darwin Posted May 14, 2016 Share Posted May 14, 2016 This one gave me a laugh. Some muppet thought it would be great idea to turn a large flat into 4 studios. Probably unmortgageable now. On the market at £950k. Reduced by 27.3% a week later to £689,950. 4 bedroom flat for sale, Bromyard Avenue, Acton Now reduced by 33.1%. 11/05/2016, 22:22:17 Price changed: £689,950 £635,000 15/03/2016, 08:42:17 Price changed: £950,000 £689,950 09/03/2016, 16:17:51 Price found: £950,000 Status found: Available Subtitle found: 4 bedroom flat Bought in 2007 for £495,000, Service Charge: Approx. £4281.04 pa. Gound Rent: Approx. £550 pa. Hurt much? Quote Link to comment Share on other sites More sharing options...
Starla Posted May 14, 2016 Share Posted May 14, 2016 More BTL carp on offer in Whitton, Greater London, Zone 5, which has suffered some horrible price rises from the London ripple effect. When you hit streetview, it shows you a park but won't let you view the house. Probably because the house is attached to a rough pub. On the adjoining wall are 2 massive sky TV screen, plus the dart board! Opposite is a car scrap metal yard, but that's the least of your worries, it's the moped shop it's next to, with 24/7 chavs on scooters. Internally the place is vintage BTL. "Good enough for tenants" obviously, but I can't see OO's wanting to buy this sort of cr*p. It's POA. I'd be embarrassed to ask money for it as well. Estimate rental price £1,100. I'd love to know what they're asking. The other half and I agreed we'd rather sleep in the car. http://www.zoopla.co.uk/for-sale/details/40303687?search_identifier=9e3afb4ed8857ea6cbdf2235f5517317#6SJWPAxccRicE5IJ.97 Quote Link to comment Share on other sites More sharing options...
darwin Posted May 14, 2016 Share Posted May 14, 2016 Estimate rental price £1,100. I'd love to know what they're asking. The other half and I agreed we'd rather sleep in the car. http://www.zoopla.co.uk/for-sale/details/40303687?search_identifier=9e3afb4ed8857ea6cbdf2235f5517317#6SJWPAxccRicE5IJ.97 They are asking somewhere between £429,950 and 449,950. Sort all the properties available in that area either by highest or lowest price. The property's position on the list reveals what they want for it. POA, my ****. Quote Link to comment Share on other sites More sharing options...
Starla Posted May 14, 2016 Share Posted May 14, 2016 They are asking somewhere between £429,950 and 449,950. Sort all the properties available in that area either by highest or lowest price. The property's position on the list reveals what they want for it. POA, my ****. Holy cr*p that's massively overpriced even for here. Thanks for the tip, it's obvious now you point out the listing order. I'm in a state of mixed shock and super-laugh at that. At £429k a BTL'er would be running at a gross yield of around 3% before they get stiffed for other expenses, and would have the pleasure of handing over 25k in stamp duty. I cannot see an OO stumping up that amount of money for that cluster-fck. It's different this time, surely. Quote Link to comment Share on other sites More sharing options...
thewig Posted May 14, 2016 Share Posted May 14, 2016 BTL carp? Is nothing sacred! Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted May 14, 2016 Share Posted May 14, 2016 http://www.zoopla.co.uk/for-sale/details/40303687?search_identifier=9e3afb4ed8857ea6cbdf2235f5517317#6SJWPAxccRicE5IJ.97 That just sums up the bubble we are in, what a joke. Quote Link to comment Share on other sites More sharing options...
thewig Posted May 14, 2016 Share Posted May 14, 2016 That just sums up the bubble we are in, what a joke. I wouldn't set foot in it myself but I'd certainly buy a row of these and just rent them out to some scumbag tenants, innit. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted May 14, 2016 Share Posted May 14, 2016 Love it. Quote Link to comment Share on other sites More sharing options...
electrogear Posted July 31, 2016 Share Posted July 31, 2016 Here's a recent one. Listed 2 weeks ago for £5.45M, reduced yesterday to £4.63M. 37 properties in a student area of Hull. http://www.rightmove...y-55104235.html Chances of it selling? Further reductions? Watch this space... Quote Link to comment Share on other sites More sharing options...
electrogear Posted July 31, 2016 Share Posted July 31, 2016 15% reduction. It would be interesting to look at the individual prices and see if the portfolio was 15% overpriced by pre-Brexit standards, or whether they are being sold at a discounted rate on the assumption that this will reflect prices going forward... it seems a fairly drastic drop to me, to drop £0.8M after only 2 weeks on the market! Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted July 31, 2016 Share Posted July 31, 2016 275k for a 6bed student let in hull sounds overpriced to me. One on the pics is bound to be the be the best, rest much worse. Think of it if he listed them all at the same time, there would be a mini hull house price crash. Don't forget 6 bed prolly means a 4 bed with lounge diner converted. Quote Link to comment Share on other sites More sharing options...
spyguy Posted July 31, 2016 Share Posted July 31, 2016 275k for a 6bed student let in hull sounds overpriced to me. One on the pics is bound to be the be the best, rest much worse. Think of it if he listed them all at the same time, there would be a mini hull house price crash. Don't forget 6 bed prolly means a 4 bed with lounge diner converted. Empty ex student digs. Hull, like all Unis, is building loads on on campus accommodation. There's not market fro these places. Quote Link to comment Share on other sites More sharing options...
electrogear Posted July 31, 2016 Share Posted July 31, 2016 275k for a 6bed student let in hull sounds overpriced to me. One on the pics is bound to be the be the best, rest much worse. Think of it if he listed them all at the same time, there would be a mini hull house price crash. Don't forget 6 bed prolly means a 4 bed with lounge diner converted. They are all priced and advertised for sale individually too! Properties on the avenues, and in particular Park Ave have increased in price over the last few years by a large amount. It's quite a desirable area. £225K - http://www.rightmove.co.uk/property-for-sale/property-60812237.html £255K - http://www.rightmove.co.uk/property-for-sale/property-60810041.html £270K - http://www.rightmove.co.uk/property-for-sale/property-60804977.html £275K - http://www.rightmove.co.uk/property-for-sale/property-60804314.html £275K - http://www.rightmove.co.uk/property-for-sale/property-60806567.html The rest are here:- http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=BRANCH%5E125350&includeSSTC=true&_includeSSTC=on&index=10 (don't have time to post another 29 links!!) Quote Link to comment Share on other sites More sharing options...
darwin Posted July 31, 2016 Share Posted July 31, 2016 Here's a recent one. Listed 2 weeks ago for £5.45M, reduced yesterday to £4.63M. 37 properties in a student area of Hull. http://www.rightmove...y-55104235.html Chances of it selling? Further reductions? Watch this space... I'm from Hull and know the area - £4.6m for that lot? Hahahahah GTFOHWTBS Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted July 31, 2016 Share Posted July 31, 2016 Here's a recent one. Listed 2 weeks ago for £5.45M, reduced yesterday to £4.63M. 37 properties in a student area of Hull. http://www.rightmove...y-55104235.html Chances of it selling? Further reductions? Watch this space... According to an estate/letting agent friend of mine there is a ready market for BTL portfolios. However, there is a slight catch the cash rich investors interested in this market expect to clear 10% pa, so allowing for management/maintenance costs they are looking at +13% yield. , Anyone, with knowledge of the Hull lettings market, care to suggest a value on this basis. Quote Link to comment Share on other sites More sharing options...
knock out johnny Posted July 31, 2016 Share Posted July 31, 2016 (edited) They are all priced and advertised for sale individually too! Properties on the avenues, and in particular Park Ave have increased in price over the last few years by a large amount. It's quite a desirable area. £225K - http://www.rightmove.co.uk/property-for-sale/property-60812237.html £255K - http://www.rightmove.co.uk/property-for-sale/property-60810041.html £270K - http://www.rightmove.co.uk/property-for-sale/property-60804977.html £275K - http://www.rightmove.co.uk/property-for-sale/property-60804314.html £275K - http://www.rightmove.co.uk/property-for-sale/property-60806567.html The rest are here:- http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=BRANCH%5E125350&includeSSTC=true&_includeSSTC=on&index=10 (don't have time to post another 29 links!!) The yields are quite good compared to usual BTL, but the issue is that Universities are getting into build to let, building their own halls of residence and letting them to their students so the @rse is falling out of the student btl market.A mate got burnt in Leeds a good few years back Edited July 31, 2016 by knock out johnny Quote Link to comment Share on other sites More sharing options...
electrogear Posted July 31, 2016 Share Posted July 31, 2016 £80-£100 per week per student, so 10% yields are achievable for those properties down Park Ave (taking into account losses and lack of summer occupancy). A few years back those properties were going for sub 200K, and the rents weren't much less so the yields have decreased significantly in the last few years. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted July 31, 2016 Share Posted July 31, 2016 According to an estate/letting agent friend of mine there is a ready market for BTL portfolios. However, there is a slight catch the cash rich investors interested in this market expect to clear 10% pa, so allowing for management/maintenance costs they are looking at +13% yield. , Anyone, with knowledge of the Hull lettings market, care to suggest a value on this basis. Really? I like a decent anecdotal as much as the next man, but suggesting that there is a "ready market" for circa £4m collections of shit student houses is 'interesting' to me. Where is your mate's patch? Quote Link to comment Share on other sites More sharing options...
knock out johnny Posted July 31, 2016 Share Posted July 31, 2016 According to an estate/letting agent friend of mine there is a ready market for BTL portfolios. However, there is a slight catch the cash rich investors interested in this market expect to clear 10% pa, so allowing for management/maintenance costs they are looking at +13% yield. , Anyone, with knowledge of the Hull lettings market, care to suggest a value on this basis. 10% net/13% gross is an absolutely fabulous return - hence I don't think it exits (or if it does, wont exist for long - see my post about uni's getting into build to let) If you're getting 10% net, you hang onto it - s24 or not (unless the LL has been a total total twit and has absolutely no wiggle room) Quote Link to comment Share on other sites More sharing options...
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