The Wilsons - 875 buy to let property empire

zar

MissMoneypenny wrote: »

They own half of Hawkinge too, according to a Folkestone EA. The Wilson's seem to like to get in at the start of housing developments and (it seems) be near proposed high speed rail links to London and Europe. Didn't Ebbsfleet steal that thunder?

I keep a close eye on both the buying and renting markets in Hawkinge. There's no denying its a bit of an odd place and a free £30k from the government wouldn't persuade me to buy one of the awful new builds they are throwing up there (not so fast in these CC times). My DH said he almost drove off the road in shock when he saw them sticking brick chimneys precariously on top of the insubstantial timber frames. I'm quite glad the Wilsons are buying them as with any luck they will be good homes for their tenants for a few years and will then fall down.

The advertised prices for the newbuilds are falling slightly on property bee
31 August 2008

• Brief Description changed: 4 bedroom Townhouse from £219,995 £199,995
• Price changed: from 'From £219,995' to 'From £199,995'

15 August 2008

• Initial entry found.

The market round here is slow. Stuff is sitting for ages and sales keep falling through. Hawkinge suffers from that well known problem - why buy a second-hand two or three year old house instead of a brand new one. Why buy a new one when you know that they are still plans to increase the number of houses another 50% on the size it is now? When I was on the bus into Canterbury a few weeks ago I was eavesdropping on two ladies behind me, one of who's son has had his Hawkinge property on the market for months with no viewings.

Typical rightmove/property bee listing:
dateevent20 June 2008

• Price changed: from 'Offers in Excess of £150,000' to 'Offers in Excess of £145,000'

23 May 2008

• Price changed: from '£164,995' to 'Offers in Excess of £150,000'

27 March 2008

• Initial entry found.

(It always amused me when vendors revise down an Offers in Excess Of price)

Or this one where they just don't seem to have a clue how much to ask:
dateevent09 August 2008

• Brief Description changed: Price Range: £100,000 - £115,000 range: £ 80,000 to £ 110,000 Superb Starter Home One Bedroom Two Allocated Parking Spaces
• Price changed: from 'From £100,000' to 'From £80,000'

18 July 2008

• Price changed: from 'From £107,500' to 'From £100,000'

27 June 2008

• Price changed: from 'From £100,000' to 'From £107,500'

20 June 2008

• Price changed: from 'Guide Price £107,500' to 'From £100,000'

14 June 2008

• Brief Description changed: Price Guide Range: £100,000 - £125,000 £115,000 Superb Starter Home One Bedroom Two Allocated Parking Spaces
• Price changed: from 'Guide Price £120,000' to 'Guide Price £107,500'

10 March 2008

• Brief Description changed: Price Guide £115,000 - £125,000 Superb Starter Home One Bedroom Two Allocated Parking Spaces
• Price changed: from '£127,500' to 'Guide Price £120,000'

03 February 2008

• Initial entry found.

The rents that are asked for some houses in Hawkinge compared to Folkestone and surrounding villages seem very high, and I've always wondered if that's a Wilson effect. On rightmove Hawkinge 2beds are listed for between £750 and £565pcm. We pay £600 for ours. I just can't see what justifies asking above £650pcm - unless its to make the Wilsons' returns look better on paper.

As for whether Hawkinge is a good buy, I'm not sure. The transport links are not bad - Maidstone is easily commutable (I do it everyday along with half of Hawkinge judging by the amount of traffic leaving the M20 with me) and the journey into Canterbury is OK too. I'm looking forward to the Folkestone fast rail link to London.

OTOH here's why there is a government neighbourhood pathfinder in Hawkinge:

Hawkinge was selected as a Pathfinder as it shares many of the characteristics of other areas of disadvantage. In 2000, the Indices of Multiple Deprivation ranked the ward of Hawkinge and Paddlesworth as the 1414th most deprived ward in England, making Hawkinge within the top 20% most deprived wards in England.

What makes Hawkinge unique to other Pathfinder areas is the extent of growth and development over the past ten years. Between 1991 and 2011 the Shepway District Local Plan, allocated a number of housing sites in Hawkinge in order to cater for the majority of the district’s housing allocation. Since 1991 over 1,400 houses have been completed and this growth has placed a strain on the capacity and resources of service providers in catering for the needs of the local population. It is inevitable that pressure on services will increase as further development is scheduled in the coming years. Growth will eventually equate to the area increasing threefold over a twenty year period and the integration of ‘old’ and ‘new’ Hawkinge is one of the key challenges of neighbourhood management in this area.

As well as there being obvious physical differences, residents living within various parts of the village experience vastly differing standards of living. This is especially true in considering parts of the newly developed areas. These are built to a high standard and are highly sought after, in comparison to some of the more established areas.

It won't happen, but I'd like the Wilsons to go bust and their property become social housing. There are 2500 people on the Shepway housing list. Last year the council let to 300 people and aim to build 60 new houses a year. A windfall of houses from the Wilsons in Hawkinge would be ideal to make the list a bit smaller!

Jimuth

Excellent post Zar. I enjoyed finding out about someplace I'd never heard of before.

mr_magoo_5

Jonbvn wrote: »

That use to be true. However, I feel that just recently that some posters on here are starting to froth at the mouth, such that they think that their views are undeniable facts.

Oooh hang on,
I posted in a light hearted thread that the Dow had fallen 300 points, an undeniable fact, and you went off on one and accused me of being and anarchist! Lol

You could have balanced it out by saying ‘We are better placed than others to ride out this turbulence’.:p

zar

Darts wrote: »

IMO The fast London train will not be as popular as it should have been because it runs to St Pancras. A lot of commuters in Kent work around Cannon St, London Bridge, Victoria and Canary Wharf. This means you will lose a lot of the time you save on the faster train having to make an additional journey across London, instead of perhaps walking from the station as at present, and pay a hefty premium for the privelege.

I have thought this too. I'm looking forward to it for when we need to travel from Euston or Kings Cross but if it does turn out to be much more expensive than I won't use it after all. If its a couple of pounds more I would use it for travelling north but I probably wouldn't use it for going to London itself.

Isn't there some sort of plan for Canary Wharf users to get off at Stratford rather than St Pancreas and travel onwards from there? (My London geography isn't great.)

zar

Jimuth wrote: »

Excellent post Zar. I enjoyed finding out about someplace I'd never heard of before.

Cheers but I don't blame you if you're being sarcastic! I was thinking when I'd finished writing it that it was a bit of a long post about one little village in an obscure part of darkest Kent and would send most people to sleep.

jamescredmond

Jonbvn wrote: »

So you must all be in sum sort of gang like eh! Gr8t idea!

if you think it's a 'gang' you're welcome to join.

instead of trolling.

Darts

zar wrote: »

I have thought this too. I'm looking forward to it for when we need to travel from Euston or Kings Cross but if it does turn out to be much more expensive than I won't use it after all. If its a couple of pounds more I would use it for travelling north but I probably wouldn't use it for going to London itself.

Isn't there some sort of plan for Canary Wharf users to get off at Stratford rather than St Pancreas and travel onwards from there? (My London geography isn't great.)

I understand that is the case, although I'm also led to believe that the interchange from Stratford International to Stratford regional will involve a lengthy walk.

Dithering_Dad

jamescredmond wrote: »

if you think it's a 'gang' you're welcome to join.

instead of trolling.

Ah, the 'gangs' usual accusation against anyone who doesn't agree with them. Dismiss them as a 'troll'.

It's embarrasing that this is the best you can do, it really is.

<-look, this is me being embarrased for you.

Jimuth

zar wrote: »

Cheers but I don't blame you if you're being sarcastic! I was thinking when I'd finished writing it that it was a bit of a long post about one little village in an obscure part of darkest Kent and would send most people to sleep.

I wondered if you'd think I was being sarcastic. Seriously, no, I wasn't. It's good to see someone try and help a thread with a good post, so thanks.

jamescredmond

Dithering_Dad wrote: »

Ah, the 'gangs' usual accusation against anyone who doesn't agree with them. Dismiss them as a 'troll'.

It's embarrasing that this is the best you can do, it really is.

<-look, this is me being embarrased for you.

whassup dad?

feeling like a minority of one?

there is no 'gang', but you're forgiven for thinking that there is one when some of your posts invite derision from all angles.