Sunday, Sep 03, 2006

Buy To Let still get space to plug the market!

Observer: Influx of EU immigrants pumps up buy-to-let market

Property boss Nigel Terrington argues that new workers will provide a firm foundation for the rented sector:
Nigel Terrington is chief executive of the Paragon group of companies. Paragon, listed on the London Stock Exchange, is the UK's third-largest buy-to-let lender

Posted by surfgatinho @ 09:06 PM (492 views)
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1. uncle chris said...

Seems that if you have the money you can get whatever you want printed in the newspapers these days.

Sunday, September 3, 2006 10:31PM Report Comment

2. paul said...

Pure market shill BS. With a name like "The Observer", I'm suprised they printed this at all.

The following:

"This trend has been developing over recent generations and is evident from a CML Housing Survey which shows that the declining trend for early home ownership for the under 25s began in the 1980s, not recently as some suggest."

is not saying what it first seems. You might think he's saying the equivalent of "The CML claims the trend for families to start later goes back as far as the 1980s." But separating fact from opinion, what he actually says very carefully in the sentence is ...

"I think that from the CML survey there's a trend for twentysomethings to start families later."
"I think that the CML survey also says this trend started in the 1980s."

Doubt that the BBC's finest cut n'paste journalism graduates will look at this critically though.

Monday, September 4, 2006 12:18AM Report Comment

3. Christopher Ashley said...

The house next to me has a few migrants splitting their bills, where as I have to find the same rent for my whole family, it is getting hard to compete. 1 million new people in 2 years, it is time to shut the gate and pull the plug on the buy to let market at the same time.

Monday, September 4, 2006 01:49AM Report Comment

4. devil's advocate said...

Are you saying that is not the truth??

Its makes logical sense that if there is a massive influx of immigrants that they will require properties to rent.

Monday, September 4, 2006 10:26AM Report Comment

5. Surfgatinho said...

If you think about it there is some logic in the argument. I.e. thousands of new clients isn't going to hurt the market.
However, since the initial capital investment was vastly overpriced and is only just breaking even on more recent buys, the only point of doing it is capital appreciation, which seems to have hit a ceiling

Monday, September 4, 2006 10:44AM Report Comment

6. inbreda said...

DA - I think that because many come over to do the lower paid jobs, they are more likely to 'share'. Add to that the fact that, in a sense, when an immigrant takes a job a local doesn't - keeping salaries down. The opint is that more immigrants can just lead to less people being able to afford property, more people only being willing to pay less rent (as if BTL is profitable now!).

It may well push prices up, but it is just another example of demand for demands sake. BTLers need an inextinguishable supply of other BTLers in order to keep their 'investment' afloat.

Monday, September 4, 2006 12:58PM Report Comment

7. The Bald Man said...

Nice advert for BTL. A lot of the immigrant labour is low paid. Although demand may be there I can not see it chasing rents or profits from letting. Multiple occupancyis becoming increasingly dificult. Also the rental default risk could be high because of the transitory nature of the immagrant labour force.

Monday, September 4, 2006 01:30PM Report Comment

8. Ticktock said...

This is getting to be beyond a joke. Its funny how the liberal papers have fallen in love with property investment more than all others. Hand-wringing about social issues while themselves being a major cause of them.

The journo's clearly have VI in BTL. (One of many reasons that socialists shun liberal luvys and their hypocritical publications)

Please don't call them champagne Socialists - they are liberal capitalists -not Socialists.

Monday, September 4, 2006 02:00PM Report Comment

9. Devil's Advocate said...

I just see more oand more people trapped, unable to afford housing who will have to rent. With more people coming from abroad the demand must be high. As long as BTL is profiable then it will continue.

Bring on more rate rises!!

Monday, September 4, 2006 03:19PM Report Comment

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