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Hi everyone,

After months of lurking, I've decided to post as the attached link proves the sheer madness of BTL 'investment' in the current market.

One of the houses (from the front row, alonf the main road) has been for rent for some weeks now at £995.00 per month. That makes a gross rental annual income of £11,940 for a house that must have cost, net of the various developer's bribes, around £350,000 (unfortunately, no sold prices available yet from the Land Registry). That's a gross yield of 3.41% !!!

For those who don't know the area, the Blenheim Mews (a pretentious name for badly built boxes with overlooked tiny gardens) are located in the heart of Hallamshire, the very posh and affluent part of Sheffield (it is the 4th wealthiest constituency in the whole of the UK in terms of household income) where, thnks to the lag effect vs. London and the South East, prices are still just about holding.

The scheme is now fully built but only half sold (come on you BTL muppets, go on I'll rent it off you for £800 !!). I am currently renting a 4-bedroom semi a few hundred yards away, in a very quiet road and with a great garden, for £900.00.

A one to watch - could get nasty when developers start discounting big times (they are currently offering £20K cash back plus all the usual crap)

negative yield

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UK_Estate_agents_with_homes__houses___property_for_sale_on_rightmove_co_uk.htmPersimmon_Homes.htmThanks for the welcome W&L.

Here are a couple more nuggets from my local patch (south west Sheffield).

1. 'Ranulf' (what a naff name). This horror has been on the market coming on 12 months with very few apparent viewings (my house backs onto their 'designer' garden - complete with cheap decking and outdoor heater ......... really off-putting !!!).

In my modest opinion, there is no way this is going to sell at this price, or I shall really despair of Yorkshire folks.

2. Weetwood Gardens (Persimmon).

Looking at nightime internal lighting and furniture on the balcony, I reckon that at most, ONLY 2 of the penthouses have been sold. The whole thing was finished nearly two years ago and is visibly struggling to sell (several 2 bedders regularly advertised for rent in the local rag - for £700/£750 pm).

The penthouses were first advertised at £373,000, ie £60,000 more than current listed price (that a 16% reduction !!). Well, Persimmon - looks like you've really screwed up on that one ....

The only good thing is that in order to get planning permission from the council, Persimmon had to build a new library just nest to the flats (oops appartments ... ) which is great for the renting locals like me.

UK_Estate_agents_with_homes__houses___property_for_sale_on_rightmove_co_uk.htm

Persimmon_Homes.htm

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Persimmon_Homes.htmThanks for the welcome lipsey.

Here is the working link. Aplogies for earlier mishap. If you're really interested in the penthouses, I reckon you should be able to negotiate a good deal. They've been on the market for nearly 2 years despite all kinds of offers from Persimmon (maybe it's just the price ......).

third time lucky.....

weewood_gardens.htm

Persimmon_Homes.htm

weewood_gardens.htm

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Sorry if I gave the wrong impression . The reason I was interested was because I have been having discussions on the iii board with some guys who are bullish on Redrow and Perm . I have been pointing out that apart from takeover talks the shares are a bad bet . They will not believe me that house market is very shakey and I thought this was a good example

I still can't get on through your address??

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  • 301 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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