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deadlyavenger

The BTL scumlord exodus is already happening...

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Firstly, just want to say .....lolz! It's so nice to see these fcukers getting whats coming to them :D

Anyway, i live near a midlands university town and work very close to a university in another midlands town

Anyway in my home town i have never seen so many for sale signs, and these are prime student let terraced houses very close to the uni, counted around 10, when previously these would never come up for sale.  And about 20-30% of these seem to be going to auction. The exact same can be said of the work uni town. 

Shirley if these were such a sure bet you'd never sell up right!?? Over-leveraged much perhaps?

Anyway moral of the story, the smart BTL *****faces are getting out...the thick as sh!t BTL'ers are going to get boiled slowly like frogs...cant wait :)

But yeah, for those who are wondering & worrying when the BTL exodus will start, IMO...it's already on...it's on like Donkey Kong!!! :lol: 

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22 hours ago, deadlyavenger said:

Firstly, just want to say .....lolz! It's so nice to see these fcukers getting whats coming to them :D

Anyway, i live near a midlands university town and work very close to a university in another midlands town

Anyway in my home town i have never seen so many for sale signs, and these are prime student let terraced houses very close to the uni, counted around 10, when previously these would never come up for sale.  And about 20-30% of these seem to be going to auction. The exact same can be said of the work uni town. 

Shirley if these were such a sure bet you'd never sell up right!?? Over-leveraged much perhaps?

Anyway moral of the story, the smart BTL *****faces are getting out...the thick as sh!t BTL'ers are going to get boiled slowly like frogs...cant wait :)

But yeah, for those who are wondering & worrying when the BTL exodus will start, IMO...it's already on...it's on like Donkey Kong!!! :lol: 

Thanks for your report, but let's be honest - currently it's anecdotal.

To make it slightly more scientific, can you identify the accommodation on RightMove/Houseprices.io and compare the number currently for sale with completed sales in the past few years?

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6 hours ago, Senny Pijama said:

Thanks for your report, but let's be honest - currently it's anecdotal.

To make it slightly more scientific, can you identify the accommodation on RightMove/Houseprices.io and compare the number currently for sale with completed sales in the past few years?

Hi Senny..yes...that's why in its the Anecdotal's forum ;)

But yes I would love to compare the number currently for sale with completed sales in the past few years, but not sure how to go about this?

Also be interested to hear the thoughts of fellow HPC's who live near BTL strongholds, i.e. are they seeing the same as myself & electrogear??

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All I can say is take a look at property (newest listed) in Kingston Upon Hull. The results speak for themselves. Almost every listing includes one of the buzzwords for BTL:-

"ATTENTION LANDLORDS", "TENNANTED", "NO CHAIN", "ATTENTION INVESTORS" or evidently the properties are empty looking at the photos. It's got to be 90% BTL coming up now and that's not an exaggeration. There's also a noticeable drop in owner occupiers listing properties for sale which means nobody is moving, so more downward pressure on prices. There's very few larger homes for sale, but the market for 3 bed semis/terraced houses has gone nuts - a huge oversupply now and lots of price slashing. Presumably FTB are taking advantage of this and a few of them are selling but I doubt many budding amateur landlords are chomping at the bit now...

Have a look and see for yourself. It wasn't like this last year, or even 6 months ago. It all kicked off in the last few months and is still getting more and more intense...

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Soooo landlord came round this evening. Planned on chucking us out this summer and converting the house into flats, for mad yieldz (Z6 London). 

Now he's selling and we can stay on a rolling contract until it's gone. Bit of a u-turn.

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14 hours ago, Jozers said:

Soooo landlord came round this evening. Planned on chucking us out this summer and converting the house into flats, for mad yieldz (Z6 London). 

Now he's selling and we can stay on a rolling contract until it's gone. Bit of a u-turn.

How generous of them.

LLook for somewhere else, give notice,  move and hopefully they'll have a few months void

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18 hours ago, deadlyavenger said:

But yes I would love to compare the number currently for sale with completed sales in the past few years, but not sure how to go about this?

In the top menu of Rightmove, click on House Prices, then Sold House Prices and then enter the postcode you're interested in.

Alternatively, enter the same postcode into houseprices.io

You can also see some sales trends in Rightmove by clicking again on House Prices, and then selecting Market Trends.

 

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5 hours ago, jfk said:

How generous of them.

LLook for somewhere else, give notice,  move and hopefully they'll have a few months void

Or stay and use curry powder as shake and vac before potential buyers come round for a look? (Currying powder idea courtesy of Venger on other thread). Either way I hope LL gets shafted by their own speculative greed.

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3 hours ago, Senny Pijama said:

In the top menu of Rightmove, click on House Prices, then Sold House Prices and then enter the postcode you're interested in.

Alternatively, enter the same postcode into houseprices.io

You can also see some sales trends in Rightmove by clicking again on House Prices, and then selecting Market Trends.

 

Sales trends on Rightmove are not current. They're at least 4 months old and they're not going to give you any idea what is happening out there right now. The only data you're going to get right now is anecdotal. It won't become published data for 3-6 months and then the media will probably still latch onto variations in reports to provide an impression the market is not done yet. Some time after that reality will set in. IMO prices are already falling and there's been a sudden surge in properties available in the FTB and "second rung" sectors over the last couple of months.

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35 minutes ago, electrogear said:

Sales trends on Rightmove are not current. They're at least 4 months old and they're not going to give you any idea what is happening out there right now. The only data you're going to get right now is anecdotal. It won't become published data for 3-6 months and then the media will probably still latch onto variations in reports to provide an impression the market is not done yet. Some time after that reality will set in. IMO prices are already falling and there's been a sudden surge in properties available in the FTB and "second rung" sectors over the last couple of months.

You've previously said "counted around 10 [for sale signs], when previously these would never come up for sale.". All I'm asking is for you to go to Rightmove and tell us how many have actually previously sold over the past few years. Then your anecdotal might become a factodotal.

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4 minutes ago, Senny Pijama said:

You've previously said "counted around 10 [for sale signs], when previously these would never come up for sale.". All I'm asking is for you to go to Rightmove and tell us how many have actually previously sold over the past few years. Then your anecdotal might become a factodotal.

I've never said that. I think you're talking about somebody else...

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24 minutes ago, electrogear said:

I've never said that. I think you're talking about somebody else...

You're right. I assumed you were OP since you replied to my request to OP to post historic sales data. I'll look at usernames more carefully next time!

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Very few houses come up for sale on the road that I live in z4. At the moment 2 are on at peak asking prices and there seems little interest . I think we have reached the top.

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Just did a quick search on Rightmove for my (home) area, half mile radius, and therefore approx "just" over half a mile from the university, and I've found there are 69 properties up for sale, 20 alone are terraced properties, and the majority of them have a caption - "INVESTMENT OPPORTUNITY" or  "LOOKING FOR INVESTMENT? THIS IS PERFECT." etc

It looks like a few scumlords are "LOOKING TO DO A RUNNER" lolz :D

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Back in Feb I did a snapshot of activity on RM over the course of a week in my area.

In total there were 123 properties, and of these properties 40 were reductions (83 new).

Of the 123 properties, 72 had "no chain" or sitting tenants. 51 were owner occupier.

I'm definitely intrigued enough to spend an evening going through the last week's stats, but it's just having the time to do it. Watch this space!

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I find the vitriol hard to understand.

many here have said they have no desire to ever buy a home for many reasons.

So if all the landlords disappear where will people who wish to rent live?

I have met tenants who are scum as you so eloquently put it in a previous job. 

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2 hours ago, quinster said:

I find the vitriol hard to understand.

many here have said they have no desire to ever buy a home for many reasons.

So if all the landlords disappear where will people who wish to rent live?

I have met tenants who are scum as you so eloquently put it in a previous job. 

True "some" people never want to buy, but you'd have to be thick as sh!t (or full of sh!t) not to think that the high majority of the renters "would" buy if the house prices were more affordable. Something that the BTL'rs have actually made drastically worse by outbidding FTB's. So they've not only increased house prices, they've reduced the available stock to purchase in the first place.

I dont blame the btl'ers fully though, the government and previous governments are as much to blame for allowing BTL to become as big as it did, but now it looks like they've finally made some sensible changes to rules (still not hard enough IMO). And I dont blame people for wanting to make money, i'm all for it in fact, but not through housing, because I feel that it is something we should all be able to afford.

I've lived in a area that was once all residential, and slowly the majority of the houses became rental, and as expected the whole area went downhill. When we had major anti social and noise issue, during a time my dad was seriously ill, did the landlord or letting agency care? Did they ****.

So yes tenants can be scum too, but the landlords dont give a **** about that, all they care about is if the rent is coming in. The only thing landlords care about is profit, and most importantly, its without "any" regard of the consequences, i.e. what their tenants are like,  the neighborhood their property is in, their tenants neighbours, the fact that they are helping price out ftb who just want to, you know, buy a house and live in it (god forbid) etc.

So that's the reason for my vitriol, BTL landlords are essentially scum...parasites if you will, sucking the lifeblood out of neigbourhoods and pricing out home buyers to line their own pockets. So quinster,with the politest of respect, go **** yourself.

Judging by your post (and tone) I'm guessing you're a landlord too? When i see posts where landlords say they are providing a service, i just think STFU you ****, you're doing it make a profit, no other reason, so stop bullsh!tting...but.....saying all that....Knowing that BTL's are going to struggle going forward is "supremely" funny :D as summed up in this guardian post
https://www.theguardian.com/money/2017/apr/01/mortgage-tax-relief-cut-doesnt-add-up-buy-to-let-landlords?CMP=Share_iOSApp_Other

where they are already squealing like little piggies knowing that its FUBAR time, and that's the clued up ones, the thick as sh!t ones wont know what hit them.

The parties over/Karma's a bitch etc etc...

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5 hours ago, quinster said:

many here have said they have no desire to ever buy a home for many reasons.

As you know UK housing is an investment vehicle / asset class / a way of making money. The only use for a house those of which you speak, and I, would have, would be to live in it.

A person will spend on whatever package they choose to have Sky TV, there is no money to be made on it, just television to watch. A business on the other hand, will spend significantly more on Television advertising because of a return on investment, there is money to be made. A person who just wants to watch TV will not be prepared to pay the same amount of money for Sky TV as a business will for it's business uses. Even if they could buy in cash, they'd be wasting their hard earned money on something that is overvalued.

 

5 hours ago, quinster said:

So if all the landlords disappear where will people who wish to rent live?

I don't know but here is an image of a sideways hand made up of country codes from my March sales report on one of my sales channels.

 

FR GB IT EE US NO MY AU DE

FR GB IT EE US NO MY AU DE PH FR GB IT EE US NO MY AU DE PH

FR GB IT EE US NO MY AU DE PH

FR GB IT EE US NO MY AU DE

 

 

 

 

Edited by Arpeggio

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On 03/04/2017 at 5:32 PM, quinster said:

I find the vitriol hard to understand.

many here have said they have no desire to ever buy a home for many reasons.

So if all the landlords disappear where will people who wish to rent live?

I have met tenants who are scum as you so eloquently put it in a previous job. 

Let me see if I can help you with that.

Firstly, lets check your facts.

I think your statement that "many here have said they have no desire to every buy" doesn't stand up to scrutiny. Many here have said they won't buy at these prices. Find me some examples of posters saying that they have no desire to buy where it is clear from the context that they would still hold that position if house prices were materially lower, say at at 2001 levels, not in nominal but relative to earnings, as per the relevant DCLG live tables.

By the way, if you don't mind me asking - are you yourself a landlord, and if you are, are you leveraged?

 

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On 4/4/2017 at 7:00 PM, Bland Unsight said:

Let me see if I can help you with that.

Firstly, lets check your facts.

I think your statement that "many here have said they have no desire to every buy" doesn't stand up to scrutiny. Many here have said they won't buy at these prices. Find me some examples of posters saying that they have no desire to buy where it is clear from the context that they would still hold that position if house prices were materially lower, say at at 2001 levels, not in nominal but relative to earnings, as per the relevant DCLG live tables.

By the way, if you don't mind me asking - are you yourself a landlord, and if you are, are you leveraged?

 

Too busy trying to offload your portfolio quinster?

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On 03/04/2017 at 8:29 PM, deadlyavenger said:

I dont blame the btl'ers fully though, the government and previous governments are as much to blame for allowing BTL to become as big as it did, but now it looks like they've finally made some sensible changes to rules (still not hard enough IMO). And I dont blame people for wanting to make money, i'm all for it in fact, but not through housing, because I feel that it is something we should all be able to afford.

+ 1

 

21 hours ago, deadlyavenger said:

Too busy trying to offload your portfolio quinster?

He's probably talking to his Financial Advisor!  :lol:

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