If prices crash I'll just buy more loverly property

andygb

I for one believe that house prices are still on their way down

http://www.cliveemson.co.uk/past_results_display.asp?Auc=134

It is interesting to compare the prices which these properties realised, with similar properties in the area. There are various sites which give Land Registry details for every house sold.

FungusFighter

IveSeenTheLight wrote: »

You should do a bit more reading mewbie rather than thinking you know.

"Buy-to-let activity in second quarter of 2009

There were 21,600 new buy-to-let loans advanced in the second quarter, a relatively modest 4% decline from 22,400 in the preceding three months.

The fall in advances in the second quarter was concentrated in remortgaging, down 15% on the preceding quarter, whereas the number of house purchase loans rose 5%.



from http://www.cml.org.uk/cml/media/press/2358

That's hilarious mate, only you could see a small rise from rock-bottom as a recovery and the salvation of the BTl maket:rotfl:

(There's been a "recovery" round the corner from me too, one of the flats sold:rotfl::rotfl:

You BTLers

JonnyBravo

FungusFighter wrote: »

That's hilarious mate, only you could see a small rise from rock-bottom as a recovery and the salvation of the BTl maket:rotfl:

(There's been a "recovery" round the corner from me too, one of the flats sold:rotfl::rotfl:

You BTLers

That's hilarious, only you could assume ISTL saw it as a recovery when he didn't mention the word at all. He was simply supplying the numbers actually taken out as opposed to mewbies (deliberately daft) assumption of zero.
(Oh and it was a small fall not a rise but I don't s'pose that you count higher than 10 anyhow do you?)

You hackneyed "humourists" :rolleyes:

mewbie_2

JonnyBravo wrote: »

mewbies (deliberately daft) assumption of zero.

I'll take that as a compliment.

As far as I am concerned, on occasions I think all the stats in the world, and the media reporting seem to form a mass of impenetrable nonsense. That's when I have a look at Property Bee, and a think about the type of property selling and what we 'know' from our experience over the last how ever many years.

And I see what would have been considered 'prime' BTL properties, on the market, and not selling. Delving deeper, but not too much into the figures - it is obvious that there is no profit to be made on such properties - therefore they will not sell.

Now there may well still be those who believe in HPI, and I am sure there are still a few (21,000 - lol) who really want to get into BTL at any cost - but I don't think that is enough to prop up what remains of the bubble.

My gut feeling tells me this is the end.

JonnyBravo

mewbie wrote: »

Now there may well still be those who believe in HPI, and I am sure there are still a few (21,000 - lol) who really want to get into BTL at any cost - but I don't think that is enough to prop up what remains of the bubble.

My gut feeling tells me this is the end.

Yep, I suspect at least half of those 21,000 are making a poor decision but that has improved on where it was 3 years ago!

As for it being the end, couldn't disagree more. It'll be around for a long time yet. Everyone was saying it was dead this time last year and it's still here..... oh and it'll only increase as prices drop.

IveSeenTheLight

FungusFighter wrote: »

That's hilarious mate, only you could see a small rise from rock-bottom as a recovery and the salvation of the BTl maket:rotfl:

(There's been a "recovery" round the corner from me too, one of the flats sold:rotfl::rotfl:

You BTLers

Not once did I say or intimate that a small rise from rock bottom was signs of a recovery and the salvation of the BTL market

I merely provided factual evidence that proved Mewbies thoughts were incorrect and that he might benefit from reading up on topics before making his thoughts.

mewbie_2

IveSeenTheLight wrote: »

I merely provided factual evidence that proved Mewbies thoughts were incorrect and that he might benefit from reading up on topics before making his thoughts.

1. Look in Rightmove.
2. Spot superb* BTL properties.
3. Ask why no one is buying.

Go away and type 100k into your calculator, run up a spreadsheet or two, factor in costs and see what profit remains.

4. That is why I will trust my 'facts' more than your obfuscation.

*When I say superb I mean the places people were falling over themselves to buy a few years ago. The properties that not even a first time buyer would want to make a home in but are 'great' for renting.

IveSeenTheLight

mewbie wrote: »

1. Look in Rightmove.
2. Spot superb* BTL properties.
3. Ask why no one is buying.

Go away and type 100k into your calculator, run up a spreadsheet or two, factor in costs and see what profit remains.

4. That is why I will trust my 'facts' more than your obfuscation.

*When I say superb I mean the places people were falling over themselves to buy a few years ago. The properties that not even a first time buyer would want to make a home in but are 'great' for renting.

Why would I: -

1) look up rightmove - when it does not cover all the properties in my VI area? www.aspc.co.uk covers a far better property coverage

2) Spot superb* BTL properties - All properties are potential for a BTL, Don't understand your point here

3) Ask why no one is buying - Already proven to you that there are buyers out there. Numbers are lower and there is caution in the market (shock:eek:) but the numbers can add up (not for all properties) for BTL investment. Someone once posted a link recently of an article showing the top 10 area for BTL, all above 7% Retnal Yield.

4) That is why I will trust my 'facts' more than your obfuscation - :rotfl:YOUR facts (certainly in this case) are factually incorrect as proven, YOUR facts are what you think, not what is true

As for running up a spreadsheet or two, don't need to, I've already succesfully calculated out the rental yield for my BTL's and am well ahead of my initial projections for becoming mortgage free with them.
I'm also proven with my track record for tenancies and lack of void periods so I KNOW my calculations and marketing were sound. Still yet to see YOUR proof

P.S. nothing obfuscation about my post or the facts I presented for most people. Sorry if you could not understand it.

themanbearpig

What bargains?

Prices have shot up again. This made me laugh today:

http://www.rightmove.co.uk/property-for-sale/property-23468062.html?locationIdentifier=OUTCODE^1763&maxDaysSinceAdded=1&pageNumber=1&fromSummary=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DOUTCODE%255E1763%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26maxDaysSinceAdded%3D1%26retirement%3D%26partBuyPartRent%3D%26_includeSSTC%3Don%26x%3D105%26y%3D12%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse

Asking £245,000


About March this year, it was on the market for £145,000!
Needed a bit of work, but not a full refurbishment. Things are getting silly again.

the_ash_and_the_oak

themanbearpig wrote: »

What bargains?

Prices have shot up again. This made me laugh today:

http://www.rightmove.co.uk/property-for-sale/property-23468062.html?locationIdentifier=OUTCODE^1763&maxDaysSinceAdded=1&pageNumber=1&fromSummary=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DOUTCODE%255E1763%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26maxDaysSinceAdded%3D1%26retirement%3D%26partBuyPartRent%3D%26_includeSSTC%3Don%26x%3D105%26y%3D12%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse

Asking £245,000


About March this year, it was on the market for £145,000!
Needed a bit of work, but not a full refurbishment. Things are getting silly again.

agree w this if it sells at that price