Snapshot of btl in liverpool

Liverlad67

I live in a deprived area of liverpool lots of terrace streets with multiple to let signs. Over the last year noticed lots still vacant. Usually you see the usual single mum brigade taking them on not knocking single mums btw. Is this a result of the bedroom tax and cap on hb rates having an effect? How are the landlords making money with long voids. Think lots of amateur btl landlords are having there fingers burned after capital of culture. Prices don't seem to be dropping much either even after expected crash.

gazter

Liverlad67 wrote: »

I live in a deprived area of liverpool lots of terrace streets with multiple to let signs. Over the last year noticed lots still vacant. Usually you see the usual single mum brigade taking them on not knocking single mums btw. Is this a result of the bedroom tax and cap on hb rates having an effect? How are the landlords making money with long voids. Think lots of amateur btl landlords are having there fingers burned after capital of culture. Prices don't seem to be dropping much either even after expected crash.

For buy to let landlords the "bedroom tax" has existed since 2007. Plenty of time to get used to it.

SailorSam

Did you see on the local news last week about the Council doing another sell off of houses for £1, around Picton Rd and Smithdown Rd areas . The Major was on the radio saying for anyone who couldn't afford to get the money to modernise them, the Council may step in and lend the money.

tincans6

Liverlad67 wrote: »

I live in a deprived area of liverpool lots of terrace streets with multiple to let signs. Over the last year noticed lots still vacant. Usually you see the usual single mum brigade taking them on not knocking single mums btw. Is this a result of the bedroom tax and cap on hb rates having an effect? How are the landlords making money with long voids. Think lots of amateur btl landlords are having there fingers burned after capital of culture. Prices don't seem to be dropping much either even after expected crash.

Where in Liverpool ?

In many parts of the city what has driven this is that vast amount of new build student property in the city centre.

Close to 3000 student flats are being added each year, and the number of students who need accomodation is flat.

No surprise that in Wavertree & off smithdown there are now lot of empty lets.

PasturesNew

My guess would be they all bought into the BTL/instant riches dream - but the reality kicked in and they won't take benefits claimants....and people who aren't on benefits don't want to live in those houses, but have better/other choices available to them.

Unable or unwilling to be able to reduce the rent, they sit on them, probably selling them through auctions time and time again to the next biggest fool.

[Deleted User]

Ah Smithdown road.. i remember those days Even then the place was chock-full of amateur rubbish landlords. Even the 'professional' ones aren't much better.

I'm sure the vacant houses are due to students preferring to live in high-spec flats (after all, if you're spending £27k on an education, you might as well live in a nice flat at the cost of a few extra grand - i guess that's the modern mindset)