Downturn will bring big fall in migrant workers, says CBI

chucky

carolt wrote: »

Good - so we'll both welcome the fall in rents and lower house prices too!

Here's one for you too! :beer:

there are two sides to this as i've always said.

we've just had an offer accepted on a property and mortgage agreed yesterday - so lower house prices were good as we found the property that we wanted and the seller met our expectations with regards to price.

as for rents - currently doesn't affect me. with interest rates going down around 300%, a 10% drop in rents doesn't really impact me greatly. i haven't really felt this yet as only one property needed a new tenant at 2008 rents.

what is more of a concern is that i now have more profit. the good thing about the profit is that you can improve the property for the tenant and not have to increase his rent. obviously this is all offset against this profit, i pay less tax and i have a nicer property to let and a happy tenant who will be more likely to renew. :T

carolt

That's great chucky.

I hope the value of all your properties have been going down by similar amounts.

Lower prices, lower rents, greater profits - clearly while I wasn't watching someone squared that circle.

Excellent news all round.

chucky

carolt wrote: »

That's great chucky.

I hope the value of all your properties have been going down by similar amounts.

Lower prices, lower rents, greater profits - clearly while I wasn't watching someone squared that circle.

Excellent news all round.

house prices are falling - didn't anyone tell you!!!

my purchase prices were for me good value, i have a decent LTV also.
they have dropped in value but funnily enough last months Land Registry numbers one of the areas increased by 0.6%!! it's only one month, so i'll worry about property values in 20 years time when i'm due to sell.

carolt

Like I said, it looks like by some miracle we're both happy with the direction things are going, even if we interpret that in different ways.

Can't you ever just let up and enjoy agreeing instead of needing to try to turn it into an argument?

chucky

carolt wrote: »

Like I said, it looks like by some miracle we're both happy with the direction things are going, even if we interpret that in different ways.

Can't you ever just let up and enjoy agreeing instead of needing to try to turn it into an argument?

carol, in this case no. because the article you posted has very little if anything to do with BTL and all to do with employment which to me and probably most people is the critical thing in their lives during this recession.

that was my original point.

carolt

Yawn...... can't be bothered to respond again.

Good try.

Cleaver

bo_drinker wrote: »

So the bottom line is the migrants are going home..... Good. Maybe next time whoever is in Gov't when extra hands are needed for the jobs our lot didn't want to do then our wasters should be made to do them. At least then the money will stay in the UK instead of pis sing into Eastern Europe as it has done for years now. Goodbye and don't rush back... :hello:

Well done folks: a whole 9 posts before the now-traditional xenopohbic post. I see this as progress and reckon by next month we could go a whole page before making the forum look like a BNP extension.

As I've said before, I live in a fairly run-down part of the country and welcome the rather refreshing grateful, hard working attitute the Poles who live near me bring. The shops also now sell a wide range of Polish stuff which makes my cooking more interesting. Purely from that, rather selfish, point of view I see the original story as bad news.

RomansProperties

carolt wrote: »

Wonder what effect this will have on BTL?

."

As you seem to consider everything in terms of buytolet landlords I thought I would give you my opinion.
We are currently decreasing the amount of polish and eastern european tenants we have and letting to people claiming LHA from the council.
The overall benefit is we get £101.39 per week per flat where we were getting £70-£75 before.

So overall things are going well. Plenty of tenants and the returns are getting better

carolt

Cleaver wrote: »

Well done folks: a whole 9 posts before the now-traditional xenopohbic post. I see this as progress and reckon by next month we could go a whole page before making the forum look like a BNP extension.

As I've said before, I live in a fairly run-down part of the country and welcome the rather refreshing grateful, hard working attitute the Poles who live near me bring. The shops also now sell a wide range of Polish stuff which makes my cooking more interesting. Purely from that, rather selfish, point of view I see the original story as bad news.

Don't worry, I think enough will stay to ensure you can still get Polish etc food. I agree - I love it.

carolt

RomansProperties wrote: »

As you seem to consider everything in terms of buytolet landlords I thought I would give you my opinion.
We are currently decreasing the amount of polish and eastern european tenants we have and letting to people claiming LHA from the council.
The overall benefit is we get £101.39 per week per flat where we were getting £70-£75 before.

So overall things are going well. Plenty of tenants and the returns are getting better

More tenants?

Or fewer tenants that can pay more?

Swings and roundabouts I suppose.