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jethrotull

Void For Two Years

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I have been watching rentals in the Hever and Ashdown Forest areas for a couple of years. This bungalow has been on the market all that time.

The bungalow is currently on for £1,695: http://www.rightmove.co.uk/viewdetails-216...2&tr_t=rent

And with another agent for £1,700: http://www.rightmove.co.uk/viewdetails-105...2&tr_t=rent

The old advert with Savills for £1,995 is still on also: http://www.rightmove.co.uk/viewdetails-199...3&tr_t=rent I don't have the original adverts but the price started somewhere north of even this.

The house was part of a farm sold in November 2006: http://www.charlesclark.co.uk/greatCansironFarm.html

I watch Primelocation and Rightmove and as far as I can remember the bungalow has been on the market for almost two years. It started off very overpriced and is steadily being cut to a reasonable price, but still has some way to fall. The bungalow is still about £200 to £300 over priced. It is in a beautiful area but no garage, no workshop/shed, long travel to shops, etc. The farm was sold without sitting tenants as far I can tell, so the void must be about two years long now.

Any landlord who bought the farm and buildings for £3m in 2006 probably doesn't need the bungalow let for financial reasons, but that is still £36k missed at £1,500 for two years. And the building gets damp and overgrown, and the area gets security problems without neighbours to look out for you. Sometimes a wealthy landlord can afford to be selective on tenants moving onto their estate, but two years is a long time.

Housing seems to be being used as a safe store of wealth and not put to productive usage. The "old money" families take pride in running their estates productively, but a lot of the new money just sees land as somewhere to park cash. Landlords can get up to 12 months exemption at a time from Council Tax for empty properties. If there was no exemption for empty properties then landlords might be incentivized to get tenants in on properties.

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I have been watching rentals in the Hever and Ashdown Forest areas for a couple of years. This bungalow has been on the market all that time.

The bungalow is currently on for £1,695: http://www.rightmove.co.uk/viewdetails-216...2&tr_t=rent

And with another agent for £1,700: http://www.rightmove.co.uk/viewdetails-105...2&tr_t=rent

The old advert with Savills for £1,995 is still on also: http://www.rightmove.co.uk/viewdetails-199...3&tr_t=rent I don't have the original adverts but the price started somewhere north of even this.

The house was part of a farm sold in November 2006: http://www.charlesclark.co.uk/greatCansironFarm.html

I watch Primelocation and Rightmove and as far as I can remember the bungalow has been on the market for almost two years. It started off very overpriced and is steadily being cut to a reasonable price, but still has some way to fall. The bungalow is still about £200 to £300 over priced. It is in a beautiful area but no garage, no workshop/shed, long travel to shops, etc. The farm was sold without sitting tenants as far I can tell, so the void must be about two years long now.

Any landlord who bought the farm and buildings for £3m in 2006 probably doesn't need the bungalow let for financial reasons, but that is still £36k missed at £1,500 for two years. And the building gets damp and overgrown, and the area gets security problems without neighbours to look out for you. Sometimes a wealthy landlord can afford to be selective on tenants moving onto their estate, but two years is a long time.

Housing seems to be being used as a safe store of wealth and not put to productive usage. The "old money" families take pride in running their estates productively, but a lot of the new money just sees land as somewhere to park cash. Landlords can get up to 12 months exemption at a time from Council Tax for empty properties. If there was no exemption for empty properties then landlords might be incentivized to get tenants in on properties.

All this 'old money' stuff is full of 'Witches promises', if you ask me :lol:

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  • 395 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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