BTL running for the exits ARLA

manhattan

pickles110564 wrote: »

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.

My part of east anglia is dead. Nothing moving and people being very cautious.
Lots of for sale boards are popping up, but no takers.

wisbech_lad

Yes, because (altogether now) prices are set at the margin

Generali

I'm not surprised that people are selling in Prime Central London. Gross yield is about 3% if you're lucky.

Also, as you need to put down quite substantial amounts of cash if you're going to BTL a £400k flat, I suspect that there is a higher proprtion of savvy investors who understand all those boring concepts like cashflow, yield and all that and so are able to compare different asset classes.

Romani_Ite_Domum

pickles110564 wrote: »

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.

Excellent timing pickles. So you going to rent for a while now?

pickles110564

Romani_Ite_Domum wrote: »

Excellent timing pickles. So you going to rent for a while now?

In our town there are three or four roads which all the Posh sorts want to buy in, we have taken a chance bought one on a large plot that needs renovating for £90,000 less than what the cheapest up dated one has gone for.
I know all the signs are pointing for a massive correction but if we can get done on time we could make a nice tidy profit.
Worst case we get stuck there for a long time and the neighbours will get Poll tax reduction for us lowering the tone.

sanfrancisco

pickles110564 wrote: »

In your opinon maybe but we have a very large employer who pays excellant rates of pay, still confident of its future and still hiring.
Once you get a job for them it is as close to excellant job security in our present climate that you can get and you still can get on the housing ladder for reasonable prices.

Do you mean Norwich Union?

"Insurer to cut 4,000 jobs"

http://news.independent.co.uk/business/news/article1579024.ece

14th Sep 06

:rotfl: :rotfl: :rotfl:

keeperbear

HenryWeston wrote: »

The rats are jumping off the sinking HPI ship

As with all of these stupid headline grabbing articles, it contradicts itself. Namely:

"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"

There are certainly significant regional variations! In my part of West London prices are still increasing and you can't find a decent rental property due to the ever increasing Polish community. Since March 2007, 1 bedroom flats have gone from 180k to 205k.

franklee

Generali wrote: »

For the hard of counting, that's a gross yield of 4.2% (assuming no change in market value).

That beats me, I'm paying a massive 4.39% :rotfl:

nelly_2

I keep meaning to take my camera to work with me. The job I'm on at the mo is about 3 miles away theres something like 300 flats to rent on that single journey.
Theres piles of for sale signs too.
theres something 'going on' in Manchester.

HenryWeston

The developers "feel terrible" for the people wh paid $300,000 for identical houses a few weeks before but $145,000 was a fair market value....

Not to worry, it wont happen here...
http://www.winknews.com/news/local/7896352.html?video=YHI&t=a