Wednesday, Nov 01, 2006

Is anyone at home?

Firstrung: Letting agents see their vacant properties increase by over 100 percent in a year

What bit of this message are buy to let investors not getting?
"The average number of vacant properties reported per agent in the third quarter of 2006 was 14, compared with 6 empty properties per agent in the third quarter of 2005, yet the average time to let has decreased from 14 days in 2005 to 12 in 2006. A greater number of properties coupled with the increase in speed taken to let, indicates a strong sector".

Posted by converted lurker @ 12:10 PM (387 views)
Add Comment
Report Article

13 Comments

1. monty said...

CL - methinks you've not read the article in its entirety.

"average time to let has decreased"
"sector is performing well"
"significant improvements in business"
"increase in demand for rental property"
"hike in rental prices"

All sounds like good news for BTL.

Wednesday, November 1, 2006 03:05PM Report Comment
 

2. converted lurker said...

No, I was highlighting the glaring 'brushed under the carpet' bit of the release from the NAEA, yes it's suposedly 'booming' but look at the empty stock that's being built up, up 120% year on year. That indicates so much that is wrong with BTL IMHO and blows out all the other 'facts'...

Wednesday, November 1, 2006 03:12PM Report Comment
 

3. holding out said...

Does anyone know when Germany, France etc.. are opening their labour markets to eastern europe as this could result in a departure of eastern europeans from the UK to these countries. This might cause some pain to the BTL brigade.

Wednesday, November 1, 2006 03:33PM Report Comment
 

4. sirgoogle said...

Holding.

I do not think they are so stupid. They will note the lessons of the UK.

I am sure that somewhere there is a recording somewhere of our Govt ministers making remarks similar to the Hungarian PM !!

Wednesday, November 1, 2006 03:39PM Report Comment
 

5. holding out said...

Their restrictions are temporary under EU law they will have to open their labour markets. I don't know exactly what the time limit is it but I seem to recall 5 years being banded about.

Wednesday, November 1, 2006 03:44PM Report Comment
 

6. holding out said...

I've found a link on what countries are doing vis-a-vis the new members.

http://www.euractiv.com/en/enlargement/free-movement-labour-eu-25/article-129648

God forbid Turkey joins!

Wednesday, November 1, 2006 04:07PM Report Comment
 

7. monty said...

CL,

You're choosing to overlook every other indicator in the article and focus on First Rung's spurious headline instead. They spin the facts for their readership in the same way that Daily Mail pander to their own. Every other sentence in that article says that BTL is booming and rentals are up.

14 vs 6 tells me nothing. What would be really useful to know is what proportion of the average agent's rental portfolio is empty. Simply put, if they've had a total portfolio increase since last year of say, 300% (because we all know that the BTL market is swamped!) then it's 6/25 vs 14/100 which is a 10% decrease in the amount of empty stock.

There are lies, damn lies and statistics. Regretably, I cannot get to the NAEA website right now for the original report. Go to the source, Lurk. :-)

Wednesday, November 1, 2006 04:22PM Report Comment
 

8. tyrellcorporation said...

Let's face it the biggest pull for immigrants is the fact that everyone speaks English to some degree and that we have a thriving black market of cash-in-hand jobs.

They won't want to go and live in anywhere else unless they're set on living in a warm climate...

BTL is safe in the UK for the time being...

Wednesday, November 1, 2006 04:24PM Report Comment
 

9. holding out said...

Where I am (south shrops) there are a lot of people from the Czech republic for some reason. They are here for the money and whilst quick happy, most seem to want to work in Germany but aren't allowed to work there.

So whilst it might not make a huge difference when Germany et al open up - if that is combined with a downturn in the UK economy (or rather spending money in shops) that could have an affect and reduce the number of renters. Stick in higher interest rates as well and who knows it could be the BTLers reaching for the Luger.

Wednesday, November 1, 2006 04:56PM Report Comment
 

10. Nohpc said...

Only 14 empty properties per rental agent. I thought it would have been much higher than that. Usually they have more than that in their shop window or maybe that is every property they have for rent. I think buy to let landlords who bought a few years ago are very happy and will not feel the need to sell if the property market dips as this will probably strenghten the demand for rentals.

Wednesday, November 1, 2006 09:59PM Report Comment
 

11. indiablue19 said...

Nohpc....

In case you don't think to look back at previous Blog threads.....here's a link to all you need to know about Identity Cards in the UK, in case you intend to exit when they are introduced, this gives you a little lead time. But be warned, they are already underway in the Passport and Immigration service. Also notice, they don't mention why we are getting a biometric chip with an attached ANTENNA -- whether to track us like FedEx packages or listen to every word we say on holiday???

http://www.identitycards.gov.uk/scheme-what.asp

Thursday, November 2, 2006 12:00AM Report Comment
 

12. Nohpc said...

Indiablue thanks for the link I will have a read. I have just noticed that my new passport has a chip in it! I don't even know what it's for nobody scanned it when i went through customs coming to new zealand. Very scary big brother stuff. I seriously hope when the time comes the british public will not stand for this. Does anybody know if the Tories will go for this when they get into power?

Thursday, November 2, 2006 01:28AM Report Comment
 

13. indiablue19 said...

Nohpc....

Read my comments/links further up the Blog. It's a done deal.

Thursday, November 2, 2006 11:29AM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies