the_duke_of_hazzard Posted April 5, 2018 Share Posted April 5, 2018 Have been looking at family homes in the Southwark area lately. There's a glut on the market, and chatting to EAs, there are changes in regulation which mean that HMOs are less viable for landlords. Unfortunately, the properties they are dumping onto the market are cheap but in very poor nick. We looked at one yesterday that smelt of paint but otherwise was completely run-down. It's hard to see these places staying on the market for long before the landlords decide to sell. https://www.londonpropertylicensing.co.uk/survey-consumer-group-which-reveals-70-councils-now-operate-additional-or-selective-licensing Quote Link to comment Share on other sites More sharing options...
tomandlu Posted April 5, 2018 Share Posted April 5, 2018 Still looking a little sticky around SW15, but thanks for the heads-up. Quote Link to comment Share on other sites More sharing options...
maffo in oxford Posted April 5, 2018 Share Posted April 5, 2018 Any examples of properties up for sale? Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted April 5, 2018 Author Share Posted April 5, 2018 1 hour ago, maffo in oxford said: Any examples of properties up for sale? Sorry, should have clarified - we are looking at rentals, which are dropping as the landlord try and find families to replace the multiple occupiers and dodge the regs. There seems to be more on the market for sale as well, and that's dropping too, but still crazy prices. An example: http://www.rightmove.co.uk/property-for-sale/property-70306196.html Quote Link to comment Share on other sites More sharing options...
steaky Posted April 5, 2018 Share Posted April 5, 2018 2 hours ago, the_duke_of_hazzard said: Sorry, should have clarified - we are looking at rentals, which are dropping as the landlord try and find families to replace the multiple occupiers and dodge the regs. There seems to be more on the market for sale as well, and that's dropping too, but still crazy prices. An example: http://www.rightmove.co.uk/property-for-sale/property-70306196.html I believe you live in my neck of the woods. We're just about to move into another rental as our landlord is selling up - 3 bedroom in Dulwich for 1.7 million. Big garden but needs a good bit spent on it for a refurb. It's been on since Jan and has had 4 viewings. I think there would probably have been a queue to buy at for 1.7m in 2015. Anecdotally I'm seeing first hand the "turn". Quote Link to comment Share on other sites More sharing options...
steaky Posted April 5, 2018 Share Posted April 5, 2018 5 minutes ago, TonyJ said: "but needs a good bit spent on it for a refurb". Bet the seller is not offering a discount to compensate for that eg refurb would cost £75k. Seller offers £25k off for this. Really the discount should be more than the cost, to cover costs and inconvenience. Perhaps I'm being picky - a lot of people would probably be fine with is as is. The guy who owns it inherited it and did it up on the cheap to rent out quickly (cheapie carpets, plastic corrugated conservatory roof) Quote Link to comment Share on other sites More sharing options...
Longtermrenter Posted April 5, 2018 Share Posted April 5, 2018 Selective landlord licensing coming to hackney later this year in three areas, not just HMO's, all landlords. I know someone who is a very amateur landlord in one of the areas who hasn't got a clue this is coming. They just let the property without EPC even though new rules came in 1st April. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 6, 2018 Share Posted April 6, 2018 21 hours ago, the_duke_of_hazzard said: Have been looking at family homes in the Southwark area lately. There's a glut on the market, and chatting to EAs, there are changes in regulation which mean that HMOs are less viable for landlords. Unfortunately, the properties they are dumping onto the market are cheap but in very poor nick. We looked at one yesterday that smelt of paint but otherwise was completely run-down. It's hard to see these places staying on the market for long before the landlords decide to sell. https://www.londonpropertylicensing.co.uk/survey-consumer-group-which-reveals-70-councils-now-operate-additional-or-selective-licensing Once the asking prices get low enough I hope developers snap them up, do the refurb and sell them on to owner occupiers. Would be a shame if they become derelict squats. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted April 6, 2018 Share Posted April 6, 2018 21 hours ago, the_duke_of_hazzard said: Sorry, should have clarified - we are looking at rentals, which are dropping as the landlord try and find families to replace the multiple occupiers and dodge the regs. There seems to be more on the market for sale as well, and that's dropping too, but still crazy prices. An example: http://www.rightmove.co.uk/property-for-sale/property-70306196.html That is a crazy amount for that place. Quote Link to comment Share on other sites More sharing options...
Si1 Posted April 6, 2018 Share Posted April 6, 2018 12 minutes ago, TonyJ said: Why developers? Why not owner occupiers doing up their own home? to be fair, for a real doer upper, a developer who knows their stuff should do it more cheaply and better than an amateur, if it comes down to sorting out cr*p, imho Quote Link to comment Share on other sites More sharing options...
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