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Buy-to-let landlords rush to sell before capital gains tax rise
Comments
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The current tenants(?) - maybe they'll buy the homes the landlords are selling?
The BTL explosion led to around a 5% reduction in private housing stock for owner occupation.
What impact do you think that had on house prices?
The BTL explosion led to the supply of privately rented housing increasing by 100%.
What impact do you think that had on rent prices?
Or rather, even if you completely reversed the entire 20 year BTL boom, and increased the number of properties available to owner occupiers by just 5%, how much do you think prices would fall?
Because I am fully aware just how high and how fast rents would rise if you cut the number of properties available to rent in half.......“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Buy-to-let landlords are greedy money-obsessed cretins responsible for pricing millions of people out of the housing market.
That is all, carry on.:whistle:0 -
HAMISH_MCTAVISH wrote: »The BTL explosion led to around a 5% reduction in private housing stock for owner occupation.
(1) What impact do you think that had on house prices?
The BTL explosion led to the supply of privately rented housing increasing by 100%.
(2) What impact do you think that had on rent prices?
(3) Or rather, if you increased the number of properties available to purchase by 5%, how much do you think prices would fall? Because I am fully aware just how high and how fast rents would rise if you cut the number of properties available to rent in half.......
In answer to your questions.
1) I think house prices rose 7% due to buy to let's - this guy who spends all day looking at himself in the mirror and admiring himself told me so on another thread.
2) The local boy hasn't upped his rates, I'm therefore assuming rents are unchanged.
3) If you increase the number of properties to purchase by 5%, house prices wouldn't fall, as all the dumb landlords would still be holding out for mega-bucks, obviously!0 -
Thats Business........Nice_Username wrote: »Buy-to-let landlords are greedy money-obsessed cretins responsible for pricing millions of people out of the housing market.
That is all, carry on.:whistle:0 -
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If landlords are rushing to sell, where are the tenants going to live?
Em, maybe in the same properties when other BTL landlords buy them? Obviously so many houses are going to flood the market that prices will crash & the remaining BTL landlords will snap them up. Just checking back of the sofa to see how many I can afford A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"0 -
1) I think house prices rose 7% due to buy to let's - this guy who spends all day looking at himself in the mirror and admiring himself told me so on another thread.
It's difficult to calculate the impact of BTL on house/land values. It's complicated and I wouldn't like to try and isolate BTL on prices alone.
It's a mix with all the other variables in the market. Ever higher FTB stretch in competition with BTLers / MEWers especially from 2003 onwards, prices pushed ever higher up making BOMAD feeling richer / increased consumerism on the back of MEW / banker types getting huge bonuses on back of the HPI win.
http://www.guardian.co.uk/money/2008/feb/22/buyingtolet.personalfinancenewsHe added: "Those who did not receive a letter this week and believe they may have escaped the Revenue's grasp should note that this is only a pilot exercise for ongoing interventions that will start later this year."
There are understood to be nearly 1 million buy-to-let landlords in the UK, with the numbers ballooning in recent years.
It is estimated that 340,000 loans and remortgages were granted to buy-to-let landlords in 2007 - more than the total amount of loans to first-time buyers. Many landlords have portfolios of 50 or more homes.
As the numbers have soared the Revenue has become concerned that many may have fallen under the tax radar.0 -
sorry to break it you but i'm still here and will be for a long time
I've done the sums and I too have chosen to hold on and not be affected by the CGT changes.
It's all likely to change again before I'd be thinking of selling:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
It'd be interesting to see any LL's opting to sell.
I know one, but that is because he is retiring and the time is right.
The CGT changes will cause some to sell up, not all and not panick selling as far as I can see:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
It should be the tenants who are paincking. Where will their next home come from?
The potential raising of CGT was not very well handled from a Government point of view. The announcement should have been saved for budget day. The implementation should be phased in over a number of years.
My tenant needn't panic though and I'm paying 0% CGT...
... because I am not selling.
Besides, my BTL empire made £531 million more than BA last year.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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