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BTL running for the exits ARLA

HenryWeston
HenryWeston Posts: 198 Forumite
in House buying, renting & selling
The rats are jumping off the sinking HPI ship

http://www.findaproperty.com/displaystory.aspx?edid=00&salerent=0&storyid=20423
Why the exodus? Because the average figures for the UK (there are significant regional variations) reveal that rents are falling, capital values are either static or on the slide, and rental returns are down
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Comments

  • Guy_Montag
    Guy_Montag Posts: 2,291 Forumite
    1,000 Posts Combo Breaker
    It's ok, ds1980 will take them off their hands
    "Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
    Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
    "I think I'll become an alcoholic," said Betty.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Guy_Montag wrote: »
    It's ok, ds1980 will take them off their hands

    He's the bstrd lovechild of Warren Buffet and George Sorros.
  • ehs_3
    ehs_3 Posts: 33 Forumite
    Interesting to see a bearish article by ARLA. But yes very interesting stats...
  • pickles110564
    pickles110564 Posts: 2,374 Forumite
    HenryWeston wrote: »
    The rats are jumping off the sinking HPI ship

    Houses: Houses rose by an average of 0.4 per cent since last quarter. They were up by 2.2 per cent in Prime Central London and by 0.3 per cent in the South East . But in the Rest of the UK they fell by -3.9 per cent

    We live in East Anglia and have just sold breaking the ceiling price of properties in our road.
    First viewer bought, cash buyer, two others did drive past and offered more but stayed with first viewer.
    Stats are stats we are still getting good market rent values and they are still rising.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    Found a very similar article here.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Rents are pretty low compared to mortgage repayments in my area. I rent a £300k house (that was the price paid last year so it is a market price, not speculation) for £1050 pcm.

    For the hard of counting, that's a gross yield of 4.2% (assuming no change in market value).
  • mystic_trev
    mystic_trev Posts: 5,434 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    This won't help
    http://investing.reuters.co.uk/news/articleinvesting.aspx?rpc=401&type=personalFinanceNews&storyID=2007-06-12T073535Z_01_NOA226950_RTRUKOC_0_BRITAIN-RATES-KING.xml
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    There definitely seems to be a change of sentiment occuring, at least amongst the scribbling classes.

    It's just as well property only ever goes up.
  • sanfrancisco
    sanfrancisco Posts: 645 Forumite
    Can someone tell me who the people are who are still buying? Does anyone know anyone? Does anyone know how they are paying for it?
  • kingkano
    kingkano Posts: 1,977 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ummmmm good? This means lots of ex-BTL property coming on in FTB territory probably, which might mean prices stagnate or even slip slightly. To be fair though in most areas it seemed to say there was only a 10% shortfall in buyers/sellers of BTL. Thats only going to be about 1% of property overall, is it that significant?
This discussion has been closed.
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