Longtermrenter Posted April 26, 2017 Share Posted April 26, 2017 1 hour ago, Bronson said: Another Canterbury based fellow here too. I have noticed an influx of rentals coming to the market and am very interested to see how this plays out. Especially considering the amount of rentals, many of them student lets. Add to this the influx of 'student hall' type dedicated accommodation coming forward too. Three of us on the same thread - nearly enough for an HPC local group pub session around Canterbury. I have noticed more and more rental accommodation coming on the market in Dover, Shepway, Ashford and Canterbury Areas. Also a fair few student shared rentals sticking around on Rightmove. Rental prices still too high but starting to soften from last two years ridiculous rises. Quote Link to comment Share on other sites More sharing options...
adarmo Posted April 26, 2017 Share Posted April 26, 2017 My better half and I have been looking in an around the Wokingham (Berkshire) area for a while. We'd previously discounted Henley-On-Thames because the prices there would make even Kirtsy and Phil's eyes water. Just looking today (ever the optimist) and there's a tonne of stuff in the £350k-£450k two bed bracket. What's interesting is the number of these that appear to have been 'recently refurbished' and clearly vacant. Dare I guess that many are BTL units being liquidated? After all, Henley is a long way from the dumb money? http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^627&maxPrice=450000&minPrice=350000&radius=1.0&sortType=6&propertyTypes=bungalow%2Cdetached%2Csemi-detached%2Cterraced&dontShow=retirement%2CsharedOwnership Quote Link to comment Share on other sites More sharing options...
jimmyblueeyes Posted April 26, 2017 Share Posted April 26, 2017 Yes vacant, no chain and refurbished could be BTL heading for the exit. Listing history (which I love on Zoopla!) might give some clues to increasing levels of panic. http://www.zoopla.co.uk/for-sale/details/40841241?search_identifier=dca8f2b9a1b4b3ce82e83f3814511bdc#Zx2oTyEYsZmSoYmk.97 Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 26, 2017 Share Posted April 26, 2017 5 hours ago, Longtermrenter said: Three of us on the same thread - nearly enough for an HPC local group pub session around Canterbury. Make that 4! Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 26, 2017 Share Posted April 26, 2017 (edited) 6 hours ago, Bronson said: An example: http://www.rightmove.co.uk/property-for-sale/property-46974072.html Bought for £230k last November and attracting no attention at £240k for the last 6 weeks.... Quote This recently refurbished 4 bedroom property is currently let until the end of August for £900pcm. It is being marketed for students to occupy from September onwards on a 11 month tenancy for £1500pcm. Oh stop it, my sides are aching too much :-) Even if it was being rented as a 3 bed before and a 4 bed now (see "study" on floorplan, just above the minimum floor area for a single bedroom in an HMO) that is one of the most ridiculous kites I have seen flown for a long time. Quote The property has new carpets, freshly painted walls and the heating system has recently been serviced. A poor effort indeed. What on earth are they thinking of, to own the property for all of 3 months, and not convert that garage into an extra student bedroom. In fact, at 15m2 it is just big enough to be converted into TWO single student bedrooms, if the plasterboard partition wall is thin enough. Or, one "double" bedroom with ensuite shower and toilet for that luxury student letting, maybe even with its own window to let in a bit of daylight. If I were a BTL student landlord in Canterbury, I would be very wary of buying a property which does not already have tenants secured for the next academic year 2017-18. There is now a surplus of student accommodation (a significant reversal from the situation just a couple of years ago) and instead of all the half-decent accommodation being reserved by about the end of January, it is now the case that a lot of student housing is still on the rental market at the end of April. For anything not let for AY 2017-18 by now, there is a real prospect of rent reductions, partial voids (not all rooms let), or even the ultimate LL nightmare, a total void. Even some of the student properties with tenants contracted for 2017-18 are on the market to be sold, because the landlords see the situation becoming steadily worse for them over the next few years. The recent expansion of student numbers has slowed or stopped, and another several hundred purpose built student rooms will come onto the market from September. Interesting times in Canterbury. Edited April 26, 2017 by Dyson Fury Quote Link to comment Share on other sites More sharing options...
Automotive Engineer Posted April 26, 2017 Share Posted April 26, 2017 THIS IS IT LADS (AND LASSES) , THIS IS THE CRSH WE'VE BEEN ANTICIPATING. MARK THIS POST AS THE BEGGINING OF THE GREAT HPC OF 2017 Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 26, 2017 Share Posted April 26, 2017 http://www.rightmove.co.uk/student-accommodation/find.html?locationIdentifier=POSTCODE^188174&sortType=8&radius=1.0 the luxury looking rooms, the most expensive, at the top of the list are marketed by the Student Lettings Agency, which is the company of a LL named Werner Toogood. DYOR (won't take you long). Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 26, 2017 Share Posted April 26, 2017 The song I was actually looking for is this one: Quote Link to comment Share on other sites More sharing options...
Habeas Domus Posted April 26, 2017 Share Posted April 26, 2017 On 01/03/2017 at 2:55 PM, AvoidDebt said: Sell everything you daft c*nts. http://www.rightmove.co.uk/s6p/47068038 SOLD STC Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 26, 2017 Share Posted April 26, 2017 (edited) This one is not bad either. From Svenska Melodifestivalen 2008 ;-) though it did not make it to the Eurovision Final. The way the furniture disappears in the video is just the same as how the rented houses disappear when landlords sell them. Edited April 26, 2017 by Dyson Fury Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted April 26, 2017 Share Posted April 26, 2017 5 minutes ago, Habeas Domus said: SOLD STC I make that a yield of less than 2.7%, holy shit, money be safer in a 0.1% interest paying account.... Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 26, 2017 Share Posted April 26, 2017 5 minutes ago, GreenDevil said: I make that a yield of less than 2.7%, holy shit, money be safer in a 0.1% interest paying account.... Quote let to Statutory protected tenants, with the prospect of vacant possession and scope for improvement in the not too distant future. But just think of the capital gainz you would make as the elderly tenants die off one by one!! Quote Link to comment Share on other sites More sharing options...
Longtermrenter Posted April 26, 2017 Share Posted April 26, 2017 2 hours ago, Dyson Fury said: Make that 4! Hey, that's cool. Seriously, at some point would be interesting to meet and swap stories. Quote Link to comment Share on other sites More sharing options...
BeePee Posted April 28, 2017 Share Posted April 28, 2017 On 4/26/2017 at 10:25 PM, Longtermrenter said: Hey, that's cool. Seriously, at some point would be interesting to meet and swap stories. Sounds like a recipe for a great big rant!! :/ On a more positive note - The student let I mentioned previous has had another 5k taken off. We're 5k away from Nov 16 purchase price, and 25k from Apr 10 price. http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43075362&sale=88955739&country=england Quote Link to comment Share on other sites More sharing options...
23rdian Posted April 29, 2017 Share Posted April 29, 2017 There's a few HMOs in the latest SDL Bigwood auction. Quote Link to comment Share on other sites More sharing options...
Gribble Posted April 29, 2017 Share Posted April 29, 2017 On 4/26/2017 at 8:27 PM, Dyson Fury said: Oh stop it, my sides are aching too much :-) Even if it was being rented as a 3 bed before and a 4 bed now (see "study" on floorplan, just above the minimum floor area for a single bedroom in an HMO) that is one of the most ridiculous kites I have seen flown for a long time. A poor effort indeed. What on earth are they thinking of, to own the property for all of 3 months, and not convert that garage into an extra student bedroom. In fact, at 15m2 it is just big enough to be converted into TWO single student bedrooms, if the plasterboard partition wall is thin enough. Or, one "double" bedroom with ensuite shower and toilet for that luxury student letting, maybe even with its own window to let in a bit of daylight. If I were a BTL student landlord in Canterbury, I would be very wary of buying a property which does not already have tenants secured for the next academic year 2017-18. There is now a surplus of student accommodation (a significant reversal from the situation just a couple of years ago) and instead of all the half-decent accommodation being reserved by about the end of January, it is now the case that a lot of student housing is still on the rental market at the end of April. For anything not let for AY 2017-18 by now, there is a real prospect of rent reductions, partial voids (not all rooms let), or even the ultimate LL nightmare, a total void. Even some of the student properties with tenants contracted for 2017-18 are on the market to be sold, because the landlords see the situation becoming steadily worse for them over the next few years. The recent expansion of student numbers has slowed or stopped, and another several hundred purpose built student rooms will come onto the market from September. Interesting times in Canterbury. Wait until after Brexit - will be far worse for Uni towns. Did an undergrad course in Economics at Surrey Uni (Guildford) few years back. Reckon 60% were form EU countries (whose students get reduced fees like ours). After Brexit and being forced to pay treble EU student numbers will crash , . Quote Link to comment Share on other sites More sharing options...
EnglishinWales Posted April 29, 2017 Share Posted April 29, 2017 I think councils should buy up BTL stock on the cheap and house the homeless in it. Too many people languishing away in homeless hostels being treated like kids when they could have their own flat for a fair rent. Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 29, 2017 Share Posted April 29, 2017 On 26/04/2017 at 8:27 PM, Dyson Fury said: Even if it was being rented as a 3 bed before and a 4 bed now (see "study" on floorplan, just above the minimum floor area for a single bedroom in an HMO) that is one of the most ridiculous kites I have seen flown for a long time... ...If I were a BTL student landlord in Canterbury, I would be very wary of buying a property which does not already have tenants secured for the next academic year 2017-18. Remarkably the relisting of that property now claims that it has been successfully let for the next academic year at the £1500 pcm that was asked. But it's still on sale, with a £5k price cut. I'm suspicious of that. Otherwise, it looks like I'll be eating hat for my dinner tonight. Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted April 29, 2017 Share Posted April 29, 2017 45 minutes ago, EnglishinWales said: I think councils should buy up BTL stock on the cheap and house the homeless in it. Too many people languishing away in homeless hostels being treated like kids when they could have their own flat for a fair rent. Now there is a REAL can of worms. Many of these BTL student HMO houses were indeed originally built as council housing. For example the Hales Place estate in Canterbury. They were decent family homes. Then under the right-to-buy legislation of the 1980's they were sold to their tenants at a discount to "market value". In due course the original tenants moved on (larger family, job elsewhere, next step up "the ladder", etc.) making a good profit - able to sell at full value after any lock-in period expired, plus a gain from HPI. Soon, many of these houses were in the hands of B2BTL landlords, who were able to outbid potential OOs for the reasons we are all familiar with. They converted them into student HMOs and have been harvesting the rents ever since. While there is now a big shortage of council housing, and a long waiting list. The UK's Universities must take a share of the blame for these events by relentlessly expanding student numbers while making little or no provision to house the extra students, claiming lack of capital to build any student accommodation. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 29, 2017 Share Posted April 29, 2017 On 26/04/2017 at 8:47 PM, Automotive Engineer said: THIS IS IT LADS (AND LASSES) , THIS IS THE CRSH WE'VE BEEN ANTICIPATING. MARK THIS POST AS THE BEGGINING OF THE GREAT HPC OF 2017 Quote Link to comment Share on other sites More sharing options...
EnglishinWales Posted April 29, 2017 Share Posted April 29, 2017 3 hours ago, Dyson Fury said: Now there is a REAL can of worms. Many of these BTL student HMO houses were indeed originally built as council housing. For example the Hales Place estate in Canterbury. They were decent family homes. Then under the right-to-buy legislation of the 1980's they were sold to their tenants at a discount to "market value". In due course the original tenants moved on (larger family, job elsewhere, next step up "the ladder", etc.) making a good profit - able to sell at full value after any lock-in period expired, plus a gain from HPI. Soon, many of these houses were in the hands of B2BTL landlords, who were able to outbid potential OOs for the reasons we are all familiar with. They converted them into student HMOs and have been harvesting the rents ever since. While there is now a big shortage of council housing, and a long waiting list. The UK's Universities must take a share of the blame for these events by relentlessly expanding student numbers while making little or no provision to house the extra students, claiming lack of capital to build any student accommodation. It's going full circle! Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted May 4, 2017 Share Posted May 4, 2017 The more enlightened BTL are throwing in the towel ahead of a crash: "Without the hope of capital gains...the whole thing is less interesting" Au Revoir! Quote Link to comment Share on other sites More sharing options...
LC1 Posted May 4, 2017 Share Posted May 4, 2017 27 minutes ago, anonlymouse said: The more enlightened BTL are throwing in the towel ahead of a crash: "Without the hope of capital gains...the whole thing is less interesting" Au Revoir! Great link, very heartwarming, thanks. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 4, 2017 Share Posted May 4, 2017 On 29/04/2017 at 7:45 PM, EnglishinWales said: It's going full circle! Better believe it... Town halls buy back Right-to-Buy homeshttp://www.bbc.co.uk/news/uk-england-39264631 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 4, 2017 Author Share Posted May 4, 2017 3 hours ago, anonlymouse said: The more enlightened BTL are throwing in the towel ahead of a crash: "Without the hope of capital gains...the whole thing is less interesting" Au Revoir! ....Im out....if I can find some idiot to sell to. Which one of you boys is the troll ? Quote Link to comment Share on other sites More sharing options...
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