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Ah-so

Foreign landlords leave UK over taxes and weak pound

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The Times reports a sharp reduction in foreign landlords....

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Overseas landlords have been deserting Britain owing to higher taxes, slowing house price growth and shrinking rental income on the back of the weak pound since the Brexit referendum.

Hamptons International, the estate agent, said that the proportion of homes let by an overseas landlord had more than halved in eight years, from 14.4 per cent in 2010 to 5.8 per cent.

London has experienced the biggest drop, from 26 per cent to 10.5 per cent in that time, with the share falling by 4.7 percentage points in the past two years.

😀

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12 minutes ago, PeanutButter said:

“from 26 per cent to 10.5

 

So at one stage London had 26% foreign landlords?! Dangnabit that’s high.

One thing is that I'm not sure about is whether they are going off of their customer base rather than some wider piece of research. The former I imagine, so it may not be a representative pool, but the figures are certainly material. 

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2 hours ago, Ah-so said:

The Times reports a sharp reduction in foreign landlords....

😀

I am looking forward to the day where I am not shown a photo on a mobile phone from  Polish BTL landlords and their workers in Cambridge of the big  amazing homes they own back home in Poland paid for by the professionals they rip off in rent for crappy HMO rooms

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2 hours ago, PeanutButter said:

So at one stage London had 26% foreign landlords?! Dangnabit that’s high.

Wow, that's high.  Priced out youth, and a lot of resulting profit siphoned off abroad.  The UK has lost its way so badly on the welfare and training/education of the next generation. 

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36 minutes ago, zugzwang said:

Explodes the myth about a cheaper pound bringing in more foreign money.

Never understood the cheap pound / overseas BTL investor shizzle.

If you want a currency play, take a currency play

Overwise, your yield is the same as the rent and property are in the same currency (to state the obvious)

Unless of course, you want to holiday in London Luton.

Suspect it's more to do with POCA, extra stamp, disclosures etc

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54 minutes ago, monkeyman1974 said:

Never understood the cheap pound / overseas BTL investor shizzle.

If you want a currency play, take a currency play

Overwise, your yield is the same as the rent and property are in the same currency (to state the obvious)

Unless of course, you want to holiday in London Luton.

Suspect it's more to do with POCA, extra stamp, disclosures etc

Ditto, surely if you don't live in the UK and  are in it for the long term you want to invest when the pound is weak (unless you think it will only get worse).

I am not saying that foreigners should invest in BTL in the UK.

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1 hour ago, jonb2 said:
Quote

As Britain anguishes over its effort to negotiate a deal to leave the European Union, one Israeli is swimming against the tide and is hoping to make a fortune off Brexit. He has bought up 1,200 apartments in London over the past half year.

So apparently he  is now Britain's biggest landlord.

 

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4 minutes ago, Ah-so said:

So apparently he  is now Britain's biggest landlord.

 

Yes. It won't stop there after Brexit IMO. The whole underlying thrust of the ERG is disaster capitalism. Deals like this are only the beginning.

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Weak pound means property is even cheaper to buy......the very wealthy individuals or collectives can move where they want, store their money where and how they want and buy-up what they want.....will always have FOM.;)

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Ah yes, flogging our finite resource of land to foreign interests. Now That's What I Call Taking Back Control 2018

Perhaps he can grab a newspaper and a football team while he's at it. 

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3 hours ago, Ah-so said:

So apparently he  is now Britain's biggest landlord.

 

He is gambling on the apartments going up in value once Brexit is sorted ..seems to me they where overpriced in the first place and the builders have gotten a lucky escape .

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2 hours ago, PeanutButter said:
 

FOREIGN BUYERS OF ISRAELI PROPERTIES: ARE THE GOOD TIMES OVER?

 https://www.jpost.com/Israel-News/Foreign-buyers-of-Israeli-properties-Are-the-good-times-over-549505

 

Israeli govt cracking down on the tiny 5% of foreign property owners. 

land.jpg

When you see things like this is does make you wonder why the British Establishment are so contemptuous of the electorate and keen instead to line the pockets of the global wealthy at the expense of their fellow Brits..

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1 hour ago, hotblack42 said:

When you see things like this is does make you wonder why the British Establishment are so contemptuous of the electorate and keen instead to line the pockets of the global wealthy at the expense of their fellow Brits..

With a trade deficit it is hard to see how the UK can stop this. Most of our infrastructure is sold so those excess pounds have to either buy houses/land or currency devalues. 

Or we could stop buying useless rubbish from China and overpriced German cars but that would require people disconnecting from advertising and social media

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OK.............what even more interesting, is that the article is saying that the consequence of a total of 15% BTL landlords (foreign or not) leaving the market, is that both rent and house price actually came down.

Can I now officially call BS on the "If BTL landlords quit market in mass, rent will sky rocket" theory?

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35 minutes ago, warrior88 said:

I would say f*** off to both local and foreign landlords

Some people want to rent. It just needs to be better regulated. All landlords should be licenced at a national (not council) level. And tax evasion is huge in the sector.

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21 minutes ago, PeanutButter said:

Some people want to rent. It just needs to be better regulated. All landlords should be licenced at a national (not council) level. And tax evasion is huge in the sector.

Not only better regulated, there also has to be a level playing field (thanks to S24 this is happening now).

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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