Bland Unsight Posted February 2, 2016 Share Posted February 2, 2016 I used to rent one of these approx 18 months ago. Cannot believe how the prices on them have soared. Absolutely shocking. There are some serious maintenance problems with the blocks too but I guess whoever is mad enough to be buying them just isn't paying attention to details like that. The rents have gone up on a 2 bed flat there from circa £850 pcm to circa £1150 in that time. Glad I'm no longer there... Wow, that's amazing! Seems like the smart move is to buy a house immediately. F**k. It's hours till the estate agent opens in the morning. Why doesn't the all night Tesco sell houses? I guess we are really lucky to have you posting, with your up to date knowledge on prices and rents. I can't believe I ever suspected you were just a lame troll being rolled from one sock puppet account to another... Quote Link to comment Share on other sites More sharing options...
MrBig Posted February 12, 2016 Share Posted February 12, 2016 The Sutton Kersh auction that prompted this thread was today. Not sure about the full detail of the results but there were a number of large house conversions near me with sitting tenants that all failed to sell. One in particular was listed in the October 2015 auction with a guide of £625k but postponed to yesterday's auction, with a guide of 400k. The guide price was then dropped to £275k with two days to go and was unsold. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 12, 2016 Share Posted February 12, 2016 The Sutton Kersh auction that prompted this thread was today. Not sure about the full detail of the results but there were a number of large house conversions near me with sitting tenants that all failed to sell. One in particular was listed in the October 2015 auction with a guide of £625k but postponed to yesterday's auction, with a guide of 400k. The guide price was then dropped to £275k with two days to go and was unsold. Missed the boat by years Quote Link to comment Share on other sites More sharing options...
bushblairandbrown Posted February 12, 2016 Share Posted February 12, 2016 Wow, that's amazing! Seems like the smart move is to buy a house immediately. F**k. It's hours till the estate agent opens in the morning. Why doesn't the all night Tesco sell houses? I guess we are really lucky to have you posting, with your up to date knowledge on prices and rents. I can't believe I ever suspected you were just a lame troll being rolled from one sock puppet account to another... Why are you throwing your toys out the pram? I don't understand what your problem is. My post was accurate. But if you'd prefer, just insulate yourself from what rents/prices have actually done over the past year and just pretend they are doing what you'd like them to be doing. I hope prices do and expect prices will come down in the not too distant future, but a lot of these posts are presenting menial news as significant if not indicative of an imminent crash. I offered some wider context to those flats, I'm sorry if you found that so upsetting. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted February 13, 2016 Share Posted February 13, 2016 (edited) Why are you throwing your toys out the pram? I don't understand what your problem is. My post was accurate. But if you'd prefer, just insulate yourself from what rents/prices have actually done over the past year and just pretend they are doing what you'd like them to be doing. I hope prices do and expect prices will come down in the not too distant future, but a lot of these posts are presenting menial news as significant if not indicative of an imminent crash. I offered some wider context to those flats, I'm sorry if you found that so upsetting. What you've offered here is a textbook troll response. Also, you need to check on what the word menial actually means. Anyway, I'm calling it. Edited February 13, 2016 by Idlewild Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted February 13, 2016 Author Share Posted February 13, 2016 (edited) The Sutton Kersh auction that prompted this thread was today. Not sure about the full detail of the results but there were a number of large house conversions near me with sitting tenants that all failed to sell. One in particular was listed in the October 2015 auction with a guide of £625k but postponed to yesterday's auction, with a guide of 400k. The guide price was then dropped to £275k with two days to go and was unsold. I was there for a couple of hours to see what was happening. Results online, 80% of stuff sold: http://www.suttonkersh.co.uk/auctions.php?page=1&auctionPeriod=82 Most of it was lower priced vacant houses in need of refurbishment, although my interest was amongst the tenanted stuff and from my notes (I stayed until lot 77 was sold) a bit over half of the tenanted stuff was sold on the day or prior (15 sold out of 24 listed as tenanted up to lot 77). I overheard a person talking to someone before the start and giving a pretty convincing impression of being an utterly clueless BTL wannabe. Forty minutes later some people got him as their new landlord.... Lot 77 went for over 300k vs a guide of 225k, but other stuff was bid closer to the guide, whether it resulted in a sale or not was another matter as the reserve prices were often higher. Was pleasantly surprised to see an HMO compliant but vacant 4 bed house (lot 60, L15 4ND) fail to sell (bid to 86k vs guide of 80k but failed to hit the reserve) given the listing talked about 19k/annum income potential (similar to lot 77 when lot 77 is fully let). We'll see what happens over the next few months, but this didn't really feel like a buying frenzy. Some lots attracted a lot of bidders, most were down to 2 parties quite quickly. Sure, some stuff was bid up high but other stuff was not. First time I have attended an auction so I have no reference point, but I left quite heartened and looking forward to the events taking place once the stamp duty hike is in place. edit clarity. Edited February 13, 2016 by The Knimbies who say No Quote Link to comment Share on other sites More sharing options...
bushblairandbrown Posted February 13, 2016 Share Posted February 13, 2016 What you've offered here is a textbook troll response. Also, you need to check on what the word menial actually means. Anyway, I'm calling it. You need to get a grip if you're going to be pedantic about my use of a word which you clearly understood the meaning of, especially if you feel an urge to put it in italics. You've now twice accused me of being a troll and yet it was you who attacked my post. Now you don't have anything more worth saying but you're desperate to get the last post and so you've repeated your original accusation. You are the troll. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted February 13, 2016 Share Posted February 13, 2016 You need to get a grip if you're going to be pedantic about my use of a word which you clearly understood the meaning of, especially if you feel an urge to put it in italics. To be fair, I actually do not understand what you mean by "menial news". I even googled the phrase in case there was some novel usage of which I was ignorant. If you're not trolling, would you be so kind as to explain what it is that you meant. I still stand to my original judgement. I am always a little curious about posters who claim to have decided to start posting on hpc on the pre-text that they just bought a house. How does that work? Your OP claims that you rented in London then moved to a commuter town and bought. No mention of renting outside London, and yet now you claim you rented in the particular block under discussion. What are the chances of that? You have a family member buying with without leverage with pension pot cash (and they'll never sell). There are maybe 6,000 people in the country in a position to do that. I just figure this makes you incredibly unlikely. There's something very familiar about your prose style too. Balance of probabilities, it seems more plausible that you're a bit moody than that you are on the level. Also the vehemence with which you respond to a troll call and a little prodding requires explanation. Anyway, you're probably right, pointing out my suspicions is perhaps more disruptive than constructive. If you're not some crap bull troll then presumably this sequence of miraculous coincidences will draw to a close. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted February 13, 2016 Author Share Posted February 13, 2016 The Sutton Kersh auction that prompted this thread was today. Not sure about the full detail of the results but there were a number of large house conversions near me with sitting tenants that all failed to sell. One in particular was listed in the October 2015 auction with a guide of £625k but postponed to yesterday's auction, with a guide of 400k. The guide price was then dropped to £275k with two days to go and was unsold. The regulated tenant will be causing the longterm BTL income seeking types palpatations imo. Having to be in it for the long haul is not really what BTL is about. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted February 14, 2016 Share Posted February 14, 2016 There seems to be a flood of HMOs in Brighton. Keeps on growing. I got bored after copying these, but just put in 5+ beds and you find pages.. http://www.rightmove.co.uk/s6p/35936469 http://www.rightmove.co.uk/s6p/56569379 http://www.rightmove.co.uk/s6p/57564629 http://www.rightmove.co.uk/s6p/56331779 http://www.rightmove.co.uk/s6p/54555272 http://www.rightmove.co.uk/s6p/39487971 http://www.rightmove.co.uk/s6p/53055827 http://www.rightmove.co.uk/s6p/39492606 http://www.rightmove.co.uk/s6p/55980473 Explains what is so toxic about Brighton. For every single room in a family house you have to pay student rent! Hopefully this is the beginning of the end. I only looked at a few but lots of SSTC Quote Link to comment Share on other sites More sharing options...
bushblairandbrown Posted February 15, 2016 Share Posted February 15, 2016 To be fair, I actually do not understand what you mean by "menial news". I even googled the phrase in case there was some novel usage of which I was ignorant. If you're not trolling, would you be so kind as to explain what it is that you meant. I still stand to my original judgement. I am always a little curious about posters who claim to have decided to start posting on hpc on the pre-text that they just bought a house. How does that work? Your OP claims that you rented in London then moved to a commuter town and bought. No mention of renting outside London, and yet now you claim you rented in the particular block under discussion. What are the chances of that? You have a family member buying with without leverage with pension pot cash (and they'll never sell). There are maybe 6,000 people in the country in a position to do that. I just figure this makes you incredibly unlikely. There's something very familiar about your prose style too. Balance of probabilities, it seems more plausible that you're a bit moody than that you are on the level. Also the vehemence with which you respond to a troll call and a little prodding requires explanation. Anyway, you're probably right, pointing out my suspicions is perhaps more disruptive than constructive. If you're not some crap bull troll then presumably this sequence of miraculous coincidences will draw to a close. Now you know which town I live in: MK. I rented here for a while in the aforementioned block of flats before buying to get to know the place. The flats are near to the station and I commute. Your 6,000 figure seems very low to me. ~800,000 reach pension age each year, of those I'd estimate there are approx 100,000 individuals with pension pots (or perhaps couples with combined pots) >£100k. All of those people can buy a 1 bed flat without a mortgage (unless near to London) so I'd guess it's more like 6,000 per month. Although I think you're right that I'm not 100% aligned with the typical position on here, I don't think that makes me a troll. Let me explain why I'm on HPC. I hated renting. Rip-off fees at every turn, poor/non-existent maintenance, generally just lies from the agents, annually increasing rents... it wound me up spectacularly. In MK, you can (or at least could in 2014) buy a place for approx £100k, possibly even less for a run down 1 bed flat - but in the areas with poor reputations. As far as I'm concerned, living in an undesirable area is far, far preferable to entertaining any further LL nonsense. If prices drop, I don't really care because I'm still effectively short in housing (much smaller than a family home). So, I'm on HPC because I agree with that prices are much too high. I could never afford a decent family home around here, and the only reason I think it's worth buying at such high prices is because the PRS has been, in my experience, horrific. I'm hoping to see prices fall, but I'm not betting on it. I'm trying to hedge my position as best I can. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted February 15, 2016 Share Posted February 15, 2016 So, I'm on HPC because I agree with that prices are much too high. I could never afford a decent family home around here, and the only reason I think it's worth buying at such high prices is because the PRS has been, in my experience, horrific. I'm hoping to see prices fall, but I'm not betting on it. I'm trying to hedge my position as best I can. Well, I've been wrong before times many on all kinds of matters. It's actually the reasonableness of your post above which makes the incredible more credible. As to the number of people buying cash down with DC pension pots, believe me I've been all over that number. You want page 94 of the shobolerant, for one route to the number and if my maths doesn't convince you, try the Bank of England's. It's also perhaps worth pointing out that IMO being bullish about rents or prices is not what makes you appear moody. I might be mistaken about the fact that being so unlikely makes you moody, but you are perhaps mistaken about how unlikely you are. Quote Link to comment Share on other sites More sharing options...
bushblairandbrown Posted February 15, 2016 Share Posted February 15, 2016 Well, I've been wrong before times many on all kinds of matters. It's actually the reasonableness of your post above which makes the incredible more credible. As to the number of people buying cash down with DC pension pots, believe me I've been all over that number. You want page 94 of the shobolerant, for one route to the number and if my maths doesn't convince you, try the Bank of England's. It's also perhaps worth pointing out that IMO being bullish about rents or prices is not what makes you appear moody. I might be mistaken about the fact that being so unlikely makes you moody, but you are perhaps mistaken about how unlikely you are. The numbers given on your second link (Bank of England's) don't quite tally with those given in these articles here and here. In that link you gave it says "Data from the ABI show that around 80% of individuals who bought annuities in 2013 had a pension pot of less than £50,000, with only 4% having pots worth over £125,000 (Chart 1). Chart 1: Size of annuities sold in 2013" Doesn't this assume that a person has only one annuity? I think it's likely people have 2 or 3 pensions due to working in different places and therefore will tend to have 2 or 3 annuities. Chart 1 then wouldn't show that 80% had less than a £50k pension pot in total. That would explain why the majority are 0-10k annuities. 30% of people aren't retiring with under a £10k pension, surely? If they are, I will concede I must be unusual because that strikes me as unbelievable. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted February 15, 2016 Share Posted February 15, 2016 The numbers given on your second link (Bank of England's) don't quite tally with those given in these articles here and here. There's an explanation for that in the second link. Partnership analysed the pension savings of 2,500 of its customers to come up with a defined contribution pension pot map of the UK based on how much people have saved for their retirement. As the results come from its own sales data, the average pot sizes are likely to be higher than a true national average. The most recent ONS Wealth in Great Britain report put the average defined contribution pension pot not yet drawn on as £15,000 in 2010 to 2012. Presumably the ABI data set used by the Bank's economists is closer to being the whole of the market and therefore closer to the ONS Wealth and Assets data. Anyway, this is now completely off-topic. I totally on board with being sceptical about Bank Underground analyses, but wanting to harmonise them to small sample, unrepresentative data sets discovered in This is Money marketing advertorials seems to me to be a complete waste of time. YMMV. Anyway, I'm out. Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted February 16, 2016 Share Posted February 16, 2016 I have certainly noticed more BTLs than usual up for sale in the Oxford area where my daughter lives (OX3) - HMOs offered with tenants in situ. One of the EAs in Headington had a placard outside recently, urging anyone wanting a BTL to get in quick, before April. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 16, 2016 Share Posted February 16, 2016 I have certainly noticed more BTLs than usual up for sale in the Oxford area where my daughter lives (OX3) - HMOs offered with tenants in situ. One of the EAs in Headington had a placard outside recently, urging anyone wanting a BTL to get in quick, before April. Get in quick...before prices drop. You couldnt make this up Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted February 16, 2016 Share Posted February 16, 2016 Get in quick...before prices drop. You couldnt make this up Well, they're counting it not entering the poor twits' heads that prices will drop - they'll just bang on about the extra 3%. Quote Link to comment Share on other sites More sharing options...
Flopsy Posted February 24, 2016 Share Posted February 24, 2016 (edited) Selling up in Milton Keynes - portfolio of 15 flats http://www.rightmove.co.uk/property-for-sale/property-40093746.html and more here 5 flats in a different development maybe same LL? http://www.rightmove.co.uk/property-for-sale/property-40093545.html Edited February 24, 2016 by Flopsy Quote Link to comment Share on other sites More sharing options...
John51 Posted February 25, 2016 Share Posted February 25, 2016 I was there for a couple of hours to see what was happening. Results online, 80% of stuff sold: http://www.suttonkersh.co.uk/auctions.php?page=1&auctionPeriod=82 Most of it was lower priced vacant houses in need of refurbishment, although my interest was amongst the tenanted stuff and from my notes (I stayed until lot 77 was sold) a bit over half of the tenanted stuff was sold on the day or prior (15 sold out of 24 listed as tenanted up to lot 77). I overheard a person talking to someone before the start and giving a pretty convincing impression of being an utterly clueless BTL wannabe. Forty minutes later some people got him as their new landlord.... Lot 77 went for over 300k vs a guide of 225k, but other stuff was bid closer to the guide, whether it resulted in a sale or not was another matter as the reserve prices were often higher. Was pleasantly surprised to see an HMO compliant but vacant 4 bed house (lot 60, L15 4ND) fail to sell (bid to 86k vs guide of 80k but failed to hit the reserve) given the listing talked about 19k/annum income potential (similar to lot 77 when lot 77 is fully let). We'll see what happens over the next few months, but this didn't really feel like a buying frenzy. Some lots attracted a lot of bidders, most were down to 2 parties quite quickly. Sure, some stuff was bid up high but other stuff was not. First time I have attended an auction so I have no reference point, but I left quite heartened and looking forward to the events taking place once the stamp duty hike is in place. edit clarity. What's with Lot 86: Plot 20 Land At Summerfields, Rhostyllen, Wrexham, Clwyd Sold for £1 Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted February 25, 2016 Author Share Posted February 25, 2016 What's with Lot 86: Plot 20 Land At Summerfields, Rhostyllen, Wrexham, Clwyd Sold for £1 No idea I'm afraid, I'd left by then. Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted February 25, 2016 Share Posted February 25, 2016 What's with Lot 86: Plot 20 Land At Summerfields, Rhostyllen, Wrexham, Clwyd Sold for £1 Hm. It was sold at an auction in September 2015 for £75. In fact ten plots were sold at the September auction, for anything between £25 and £120 http://www.pugh-auctions.com/Auction/Manchester/20150910 There's a description here http://www.movehut.co.uk/property/419377-plot-51-land-at-summerfields-esless-parks-wrexham/ ofanother plot, no 55, with a guide price of £1. "Location The plots are located to the north of Parkend Walk/Summerfields in the village of Rhostyllen approximately 1 mile south west of Wrexham town centre. Description A plot of land on the edge of a residential housing development forming part of a larger 1.12 Hectares (2.77 acres) site." In fact, if you search "Esless Park", "Summerfields" and "Rhostyllen" on the web, you get no end of results from auction houses. What do you bet there's no planning permission? Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 25, 2016 Share Posted February 25, 2016 Hm. It was sold at an auction in September 2015 for £75. In fact ten plots were sold at the September auction, for anything between £25 and £120 http://www.pugh-auctions.com/Auction/Manchester/20150910 There's a description here http://www.movehut.co.uk/property/419377-plot-51-land-at-summerfields-esless-parks-wrexham/ ofanother plot, no 55, with a guide price of £1. "Location The plots are located to the north of Parkend Walk/Summerfields in the village of Rhostyllen approximately 1 mile south west of Wrexham town centre. Description A plot of land on the edge of a residential housing development forming part of a larger 1.12 Hectares (2.77 acres) site." In fact, if you search "Esless Park", "Summerfields" and "Rhostyllen" on the web, you get no end of results from auction houses. What do you bet there's no planning permission? They are part of a drain http://www.pugh-auctions.com/Lot/Manchester/20150910/120 Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted February 25, 2016 Share Posted February 25, 2016 They are part of a drain http://www.pugh-auctions.com/Lot/Manchester/20150910/120 No, the drain is between the two lines next to it. On the free online OS map you can see that it's a piece of green land next to the drain. I can't see any planning applications, and given that the land is on the bank of the drain, I can't see an application succeeding. Quote Link to comment Share on other sites More sharing options...
Guest Posted February 26, 2016 Share Posted February 26, 2016 Here's one.... http://www.rightmove.co.uk/commercial-property-for-sale/property-48860645.html Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted February 26, 2016 Share Posted February 26, 2016 They are part of a drain http://www.pugh-auctions.com/Lot/Manchester/20150910/120 It's another one of those landbanking scams. Undevelopable[1] fields and limbo land carved up into little chunks and sold to the gullible all over the world. You see these everywhere. If you ever need somewhere to camp - short term or vagabond style - just locate these sites and you can sit pretty until some bloke in China evicts you. I have a vague plan to actually do a camping tour doing just this one day. [1] And are certainly undevelopable once carved up into a thousand parcels of different (and international) ownership. Quote Link to comment Share on other sites More sharing options...
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