Monday, November 19, 2007

The amateurs flee, yeah but the pros stay in… actually they exited a year ago (remember Tgzenicy, whatever his name)

Amateur buy-to-let investors flee

“In particular, we have seen the amateur buy-to-let investor drop out, while there are now more negotiations over price than a few months ago, which is actually helping the professionals. It is basic economics that the release of land will match the demand.” So demand and supply means that prices are falling... but I thought immmmmigrants, diiiivorces, plaaanning peeermissions... wuaauhahahhahahh

Posted by confused76 @ 11:55 AM (853 views)
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5 thoughts on “The amateurs flee, yeah but the pros stay in… actually they exited a year ago (remember Tgzenicy, whatever his name)

  • tyrellcorporation says:

    Absolutely; most professional landlords in Exeter got out at least 12 months ago. I know because I watched loads of shabby large Victorian terraces (student lets) being sold at vast sums to deep-pocketed downsizing Londoners. The same behaviour occured in 1989 when pro landlords saw the top coming and bailed early.

    The term ‘in it for the long-term’ is used repeatedly by VIs to give them time to offload their own portfolios.

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  • I think we should lower interest rates to help the housebuilders… A bit of goodwill never hurt anyone did it?

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  • “Selling properties to investors at below the published prices would enable house builders to meet volume targets, but would hurt margins.”

    Oh, I have so much sympathy for house builders, what 200% profit is not enough, so you can knock up some block of flats or duplex 1-bed & 2-bed apartments, for £50,000 each and it hurts to sell them on at less than £150,000.

    ===

    @Orwell, not sure, but, if they drop Base Rates & the Mortgage lenders follow, then we will find ourselves back in BTL territory and prices will start rising again.
    (I don’t believe that the Mortgage Lenders will all stay dissociated from Base Rate moves, & it only takes one to break ranks before the rest will follow)

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  • Sold My Soul To The Never Never Never says:

    I think I’ve just spotted an amateur BTL on rightmove today. 3 Bedroom modern luxury apartment in Doncaster has come on Agent’s books in the last 24 hours. Well they call it luxury – my dearly departed mother would have referred to it as “all house & no knickers”. They have taken 10 photos – and the furniture is quite sparse and downmarket to say the least!

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  • Interesting to see the word ‘sentiment’ being used here. It was sentiment that drove the market up and sentiment that will drive it down. Perhaps we are trundling along on that gentle downward curve that occurs just before we go into freefall and say goodbye to our stomachs.

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