Sunday, September 23, 2007

BTL landlords shaking in their boots

Houce price crash feared as buy-to-let landlords sell

Buy-to-let landlords could trigger a house price crash as increasing numbers sell their properties because of higher interest rates and fears of price falls.

Posted by anon @ 03:42 PM (1251 views)
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4 thoughts on “BTL landlords shaking in their boots

  • Markets are motivated by greed, fear, or both.

    Shunned for so long, in about a year’s time, first time buyers will become the new uberlords of the property market.

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  • It’s stating the obvious – I know – but how many times has “House Price Crash” appeared in articles in the last fortnight?
    Six months ago, the count was next to none.
    Possibly we’re looking at a double digit count this week, including even the BBC. 🙂

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  • I’m taking the long view:
    David Haq, 37, of Ealing, west London, has more than 60 properties in London and on the south coast, with a total value of £12m. He has no plans to sell. ‘I think the people who will have difficulties in the current market are those with one or two properties with little or no equity to fall back on,’ he says.
    ‘Other people selling are those in their fifties and sixties who have made huge gains over the past 15 or 20 years.’ He says that with the capital value of his properties rising at 8 per cent annually, making him a notional £960,000 a year, he wants to expand his portfolio. ‘I intend to hold for the longer term. I tend to buy small blocks of flats, which I often find in Estates Gazette. I negotiate a discount and I already have a large amount of equity from the start.’

    My, my! 8% annually, you wish!

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  • “Long view”: Are these excuses. Coming to the market for a quick buck and now stuck now these people (BTler) are making excuses to find solace in the current situation which is not that bad. The bad is yet to come.

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