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Patient London FTB

More landlords selling than buying now, apparently

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Just reading through The Times' Friday property section and have come across an interesting stat: 

"There were more landlords selling than buying in September and October this year. This reduced Britain's rental pool by 6,180 homes over two months." 

Great news obviously, but slightly annoying that they have not said where that stat comes from. 

Does anyone know? 

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4 minutes ago, Patient London FTB said:

Just reading through The Times' Friday property section and have come across an interesting stat: 

"There were more landlords selling than buying in September and October this year. This reduced Britain's rental pool by 6,180 homes over two months." 

Great news obviously, but slightly annoying that they have not said where that stat comes from. 

Does anyone know? 

So by P118 logic over 6,000 UK houses have just vanished in a puff of smoke.  I must admit I missed that in the news.....

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2 minutes ago, Exiled Canadian said:

So by P118 logic over 6,000 UK houses have just vanished in a puff of smoke.  I must admit I missed that in the news.....

Just thought. The articles don't say who bought those houses. It could be anyone, including other landlords. So how do they know it's reduced the rental pool? 

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23 minutes ago, Exiled Canadian said:

So by P118 logic over 6,000 UK houses have just vanished in a puff of smoke.  I must admit I missed that in the news.....

I didnt know Graham Norton was a LL and smoked....

Well, fckme backwards with a cactus. What a surprise!

Just wait til rates start ticking upwards.

Remember Fatty Fergus himself said they were screwed when mortgage APR were above 4%

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1 hour ago, Patient London FTB said:

Just thought. The articles don't say who bought those houses. It could be anyone, including other landlords. So how do they know it's reduced the rental pool? 

Because more landlords sold than bought is the obvious answer 

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Haha, so 6180 properties have been sold without being replaced in BTL portfolios. I thought that that wasn't possible. We've been told by BTLer that it's only them who could own these properties. 

Moar, please.

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so is the proportion of the population in rented falling...must be. Evidence of change in this long term trend would be significant news...

Osborne tried to achieve this so he claimed with his cynical schemes. Seemed all that has needed was to remove some tax advantages for btl...who would have thought it...???!

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3 hours ago, hotairmail said:

I thought you might have been being more clever than the raw statement.

Indeed, how do we know they are REALLY landlords buying or selling. Perhaps we ought to use the BBC terrorist-style epithet...."so-called".

It`s not 100% reliable but the land reg keeps and now publishes such data they also capture all properties bought with BTL mortgages  ,in there "additional price paid transactions " data" ?

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On 14/11/2016 at 5:09 PM, Timbuk3 said:

I rent a room in London during the week in  a 5 bed house and landlord just gave notice to move out in April as he is selling up.  

April?  He'll be counting on the good old Spring Bounce, when all the daffodils are tossing their merry little heads in the breeze - guaranteed to have buyers queueing up with sealed bids.  (Cackle cackle) 

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On 14/11/2016 at 5:09 PM, Timbuk3 said:

I rent a room in London during the week in  a 5 bed house and landlord just gave notice to move out in April as he is selling up.  

seeing loads of HMO's or 5/6/7 flat houses for sale in Leicester.All being sold on 4 to 5% gross yields so will likely not sell as all the guys who could afford to buy are selling as well.

 

I presume the professional LL's are being advised to sell by their accountants.

 

The amount of 1 or 2 house BTLers I know (and I know quite a few) who actually have even heard of section 24, I can count on 2 fingers.

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