Guest muttley Posted February 11, 2006 Share Posted February 11, 2006 Any takers? http://www.rightmove.co.uk/viewdetails-400...a_n=15&tr_t=buy Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 11, 2006 Share Posted February 11, 2006 Any takers? http://www.rightmove.co.uk/viewdetails-400...a_n=15&tr_t=buy My guess is this is precisely how the VIs and EAs are getting their increasing asking prices! Just think one run down terrace at 950k raises the average on dozens of like properties to give a nice bump to the Halifax and Nationwide indices. It would be interesting to see just how many are like this. Desperate times make desparate measures necessary I suppose? What else could we expect? :angry: Quote Link to comment Share on other sites More sharing options...
bottletop Posted February 11, 2006 Share Posted February 11, 2006 My guess is this is precisely how the VIs and EAs are getting their increasing asking prices! Just think one run down terrace at 950k raises the average on dozens of like properties to give a nice bump to the Halifax and Nationwide indices. It would be interesting to see just how many are like this. Desperate times make desparate measures necessary I suppose? What else could we expect? :angry: It's actually 11 terraces and 2 flats for 950k Quote Link to comment Share on other sites More sharing options...
Mags Posted February 11, 2006 Share Posted February 11, 2006 It's actually 11 terraces and 2 flats for 950k Yes, a whole portfolio... Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted February 11, 2006 Share Posted February 11, 2006 (edited) i think he means it skews the figures. There should be a new heading such as "portfolio" not "terraced" or "studio" as this listing is. a 950K studio - yes that would push up the average houseprice a few points. I can see it now "Rightmove reports that the average price of studio flats have yet again surged upwards, average is now £100K, now is the time to buy blah blah blah" And its not a rare opportunity. Heres another terraced house, er bunch of houses http://www.rightmove.co.uk/viewdetails-528...pa_n=1&tr_t=buy Edited February 11, 2006 by notanewmember Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted February 11, 2006 Share Posted February 11, 2006 i think he means it skews the figures. There should be a new heading such as "portfolio" not "terraced" or "studio" as this listing is. a 950K studio - yes that would push up the average houseprice a few points. I can see it now "Rightmove reports that the average price of studio flats have yet again surged upwards, average is now £100K, now is the time to buy blah blah blah" This wasn't the point of my original post,but yes,I think this would show up as one property with an asking price of £950K,not 11 properties. There was a thread yesterday which showed five down market properties in Doncaster all priced at £999,999. It's easy to see how the VIs can manipulate the figures to suit their interpretation of the market and very difficult to prove that it is deliberate.No one polices them yet they police us.....eh,zorn Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted February 11, 2006 Share Posted February 11, 2006 yes if that portfolio was such a great invetment, why sell it??? Quote Link to comment Share on other sites More sharing options...
Mrliberty Posted February 11, 2006 Share Posted February 11, 2006 yes if that portfolio was such a great invetment, why sell it??? I know, how foolish, BTL is free monoey after all............... Quote Link to comment Share on other sites More sharing options...
music man Posted February 11, 2006 Share Posted February 11, 2006 http://www.houseprices.co.uk/e.php?q=NOTTI...%2C+DERBY&n=100 and you'll find the buyer is selling for roughly £400K short of the initial payment - Oh Dear! Woops he / she had a slip of the finances. What a loss, silly blighter. Bought at ave £130K selling 8 months later at ave. £88K. He should have paid attention in maths class and certainly studied compound interest. Anyone fancy being a land-lord. Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted February 11, 2006 Share Posted February 11, 2006 (edited) i think he means it skews the figures. There should be a new heading such as "portfolio" not "terraced" or "studio" as this listing is. a 950K studio - yes that would push up the average houseprice a few points. I can see it now "Rightmove reports that the average price of studio flats have yet again surged upwards, average is now £100K, now is the time to buy blah blah blah" And its not a rare opportunity. Heres another terraced house, er bunch of houses http://www.rightmove.co.uk/viewdetails-528...pa_n=1&tr_t=buy Its not just skewing the prices up because it adds one house to the figures therefore pushing the overall average up. Its also taken 11 houses at 88K out of the picture, significantly softening the downward trend as well. Edited February 11, 2006 by Elizabeth Quote Link to comment Share on other sites More sharing options...
tonification Posted February 11, 2006 Share Posted February 11, 2006 A 5% yield, if all are occupied, minus costs, voids and a bucketload of hassle. 'Rare opportunity' , maybe, but not a good one. If I had a million pounds, I'd rather take my chances with some shares paying a 5% dividend Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 11, 2006 Share Posted February 11, 2006 A 5% yield, if all are occupied, minus costs, voids and a bucketload of hassle. 'Rare opportunity' , maybe, but not a good one. If I had a million pounds, I'd rather take my chances with some shares paying a 5% dividend Or how about a nice safe Building Society account at 5%? Same income with zero hassle. It simply makes no sense investing in BTL when prices are so high compared with yields. If the object is to flip and make a capital gain it does make sense but in a market taking on the shape of a pear that is not going to happen. Quote Link to comment Share on other sites More sharing options...
mon-keyhanger Posted February 11, 2006 Share Posted February 11, 2006 It's actually 11 terraces and 2 flats for 950k No it is 11 terraced houses and 2 flats! 11 terraces would be 11 streets! It would be easier if you read slower maybe. Some missed the point of the poster who said - one run down terrace- I think he/she is too polite to pull you up. Quote Link to comment Share on other sites More sharing options...
FTBagain Posted February 11, 2006 Share Posted February 11, 2006 My guess is that many of these portfolios will not sell as a single lot. Just too much of a risk, as someone else has already pointed out, why sell otherwise! If they do not sell quickly then the LL may well end up making big losses and loosing the lot as a repo!! Quote Link to comment Share on other sites More sharing options...
A Fool & His Borrowed Money Posted February 11, 2006 Share Posted February 11, 2006 i think he means it skews the figures. There should be a new heading such as "portfolio" not "terraced" or "studio" as this listing is. a 950K studio - yes that would push up the average houseprice a few points. I can see it now "Rightmove reports that the average price of studio flats have yet again surged upwards, average is now £100K, now is the time to buy blah blah blah" And its not a rare opportunity. Heres another terraced house, er bunch of houses http://www.rightmove.co.uk/viewdetails-528...pa_n=1&tr_t=buy Millionaire's Row (thats what i thought when i looked at that street and saw the asking price ) Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted February 11, 2006 Share Posted February 11, 2006 Has anyone found any more? Here's one in Crewe that may not be included in RightMove's figures as the headline says commercial.* http://www.rightmove.co.uk/viewdetails-825...pa_n=1&tr_t=buy *Could a RightMove lurker confirm this? Quote Link to comment Share on other sites More sharing options...
Karen Posted February 11, 2006 Share Posted February 11, 2006 i think he means it skews the figures. There should be a new heading such as "portfolio" not "terraced" or "studio" as this listing is. a 950K studio - yes that would push up the average houseprice a few points. I can see it now "Rightmove reports that the average price of studio flats have yet again surged upwards, average is now £100K, now is the time to buy blah blah blah" And its not a rare opportunity. Heres another terraced house, er bunch of houses http://www.rightmove.co.uk/viewdetails-528...pa_n=1&tr_t=buy Why are all the downstairs windows boarded up? Quote Link to comment Share on other sites More sharing options...
mxs Posted February 11, 2006 Share Posted February 11, 2006 (edited) Well spotted Karen! Very clever BTL landlord if he can rent out houses with the windows boarded up for ooh, a whopping 5%. gross yield. Really these chaps are so bloody clever, I just wish I'd listened harder at school, who knows perhaps I could be a bankrupt BTL landlord with a "portfolio" up my ****.... Edited: amazing how one's spelling lapses after a cheeky bottle of Bordeaux Blanc of a Saturday night! Edited February 11, 2006 by mxs Quote Link to comment Share on other sites More sharing options...
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