Saturday, August 2, 2008

Denial: They have been saying this for years!!!!

High yields attract the fresher landlords

Parents about to wave children off to university could guarantee a roof over their offspring’s head, while achieving a decent return on their money. Rental yields on student housing are rising, strengthening the case for parents to invest in buy-to-let property. I would never have imagined the FT to come out with such garbage. Must be paying peanuts these days.

Posted by stevie dee @ 06:54 PM (734 views)
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7 thoughts on “Denial: They have been saying this for years!!!!

  • If the author of this sloppy article had done a little work he would have discovered that the universities themselves expect large falls in student numbers due to a) falling government funding, b) demographic changes (kids to expensive to have), c) rising fees and higher levels of part time remote learning.

    http://www.telegraph.co.uk/news/newstopics/politics/education/2275010/Undergraduate-places-to-fall-by-a-quarter,-universities'-report-warns.html

    So as we are always told that the market for housing is driven by supply and demand it looks like the old chestnut of student accommodation is well and truly overcooked. So sell now while there are still middle aged suckers to be suckered out there.

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  • Student houses tend to be dumps and are treated as such, doesn’t sound to me like a sound investment now property prices are falling off a cliff.

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  • “I would never have imagined the FT to come out with such garbage.”

    Why ever not?!

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  • Exactly.. I’m so surprised the FT have come out with this article. Encouraging parents to lose more money. Yesterday, I had the privilege of introducing a BTL Landlord to an “Old-Timer”. The Old-Timer was describing how back in the day, he could put 2 students in one room and get revenue from it. The BTL although in his late 60’s with a wife of 36 (supposedly they no longer sleep together – hardly surprising as necrophelia is becoming less trendy), was interested in buying the property or properties, because he had an investor in London with money to invest in prospective properties. It was fascinating to watch. Two bullsh!tters in one room (like watching the behaviour of two cockroaches in a jar). They were talking about yields, what sort of tenants, the Old-Timer was getting out, as he had enough (I suspect he knew the sh!t was hitting the fan). But he mentioned that the local council now pay the tenants direct. But the BTLer was still keen. The funniest thing was that Old-Timer announced, house prices have dropped £15K, so I am dropping this property from £200K to £150K for a quick sale. I did laugh to myself, as the property in my view will be lucky to get £90k next year. The amazing thing about these individuals are that they don’t care about people, they want to make money out of exploiting people. No consideration about conditionof the dwelling, just what return they can get. I live in a City with two great Universities. I am glad the Universities have invested heavily in new accommodation facilities as both the Old-Timer & this BTLer are purveyors of misery. Incidentally, the BTLer said those words that will make most laugh on here. He said to me, “See Stevie Dee (obviously not my real name) it’s all about Location, Location, Location”. I really tried hard not to laugh. But this is the mentality of these people, and it is the initial Conservative policy & carried on by New Labour that has given us this scenario. Neither of these individuals have or require a Licence and were initially bank-rolled by Banks, now by faceless Millionaires in this case from London. Any under graduate beware of a website called Gumtree, the site is riddled with dodgy BTLers/Landlords. Recommend you contact Student Services on Campus for Housing Advice, they may run a private landlords accreditation scheme.

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  • No intelligent person will contemplate buying a house to let now until there are clear signs that the downturn has bottomed out.

    – Most thickos will be able to work that one also…

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  • “Law says: “We don’t think student houses are as susceptible to house price falls as traditional housing.” ”

    So how susceptible to house price falls do you now think traditional houses are , Eh Stuart ?

    is that really dire diction ?

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  • Gettinglikemymother says:

    Quite apart from anything else, students should not have to look after or worry about their parents’ investments. I know 2 families who bought properties for their children in their first years – both dropped out. Students should live in hall/college in the first year, and subsquently in a scruffy student house where they don’t have to worry if anyone spills beer on the carpet.

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