Wednesday, Jun 10, 2015

Britain’s best-known landlords begin sell-off of buy-to-let homes

Guardian: Britain’s best-known landlords begin sell-off of buy-to-let homes

Wilson said selling off a vast number of homes in one area had problems attached.
“In Ashford there is nothing available – I own it all. We totally dominate everything – it’s not intentional and we’re not proud of it,” he said. “If you want a three-bed detached home, what we used to call a mini-executive house, there’s not one on the market other than ours. If we put 10 on at once there’s a glut and the price goes down.”

Posted by cornishman @ 11:00 AM (5104 views)
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1. cornishman said...

He (Wilson) also suggested that current price rises were unsustainable. “Prices always used to go up so a property would double about every seven years, so about 13% a year. I used to say 10% was quite healthy, but when you see them going up at 25% you think it can’t continue.”

Wednesday, June 10, 2015 11:03AM Report Comment

2. Captain Tightwad said...

How on earth does he think 10% YoY rises were sustainable, given that wage rises were never anywhere NEAR that?

Wednesday, June 10, 2015 02:11PM Report Comment

3. reticent said...

"about 13% a year... " proof that you can be as innumerate as Libby and still make a ton of money out of housing.

Looks like all those foreign buyers didn't exist or wanted too much of a discount. Now they'll have to dribble them out. Not ideal if they genuinely expect a negative price outlook.

Thursday, June 11, 2015 07:07AM Report Comment

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