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Si1

BTL bubble in northern cities

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I think there's a bubble in speculatively bought properties (cheap end terraces, flats) in northern cities.

Up between 25 and 40% in parts of Leeds in last 5 years, off home.co.uk and supported by anecdotes. More expensive end of the market has been flat by comparison.

https://www.telegraph.co.uk/property/landlord-guide/btl-investors-attracted-to-northern-powerhouse/

 

https://www.landlordnews.co.uk/opportunities-buy-to-let-investors-broaden-north/

 

Edited by Si1

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BTLers were actively encouraged to buy places in Leeds, Manchester, Newcastle, etc. as they were so much cheaper than London.  My mother had a London based BTLer look at her house when she was selling a few years back (house oop North).  Apparently, he made the trip to look at several places at once.

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Transaction numbers are low.

It might be EEers buying cheap places.

A very daft thing, considering the benefit and work permits cganges on the horizon post brexit.

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It must be very challenging managing these cheap homes from 200 + miles away. Landlords really need to have trust in the letting agents in the locality. I've heard of a few horror stories.

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On 03/11/2019 at 17:22, MattW said:

It must be very challenging managing these cheap homes from 200 + miles away. Landlords really need to have trust in the letting agents in the locality. I've heard of a few horror stories.

The half dozen people I've ever spoken to who've tried "trusting" letting agents to manage their investment have been unanimous in their condemnation.

To summarise, they take up to 15% off you and it's almost impossible to get them to do any useful work at all.

No doubt there will be a few exceptions. Somewhere.

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  • 295 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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