How is the London market?

Planet_Switzerland

On the Zoopla estimate point, the place I was renting and the place I now own are both first floor converted one bed flats which are the same size and in the same area. The estate agents were the same ones my landlord used, when I picked up the keys the agent said that he would value the place we rented a bit higher because it was closer to the tube station and was in better condition.


Looking on zoopla it values my old rental property at £50k lower than the one I own. The thing is the last one bed flat sold down that street was the one I was renting, which was sold in 2001, so I can see how it would be difficult coming up with an accurate estimate.

Crashy_Time

Planet_Switzerland wrote: »

On the Zoopla estimate point, the place I was renting and the place I now own are both first floor converted one bed flats which are the same size and in the same area. The estate agents were the same ones my landlord used, when I picked up the keys the agent said that he would value the place we rented a bit higher because it was closer to the tube station and was in better condition.


Looking on zoopla it values my old rental property at £50k lower than the one I own. The thing is the last one bed flat sold down that street was the one I was renting, which was sold in 2001, so I can see how it would be difficult coming up with an accurate estimate.

Hard to imagine a street in London with no sales since 2001?

Planet_Switzerland

Crashy_Time wrote: »

Hard to imagine a street in London with no sales since 2001?

There were other properties sold, just not one bed flats.

brit1234

Crashy_Time wrote: »

Got any more detail on that?

Yes, the landlord stuff for september is below:

https://www.youtube.com/watch?v=Nj8OUH2t764

Not many people know about it and many landlords with 4+ properties will be in line for a shock. Its the 2nd part of the PRA reforms.

Below is a story on the foreign ownership land registry reforms which is already scarring money launders.

https://guardian.ng/property/panic-grips-nigerian-investors-as-uk-opens-foreign-property-register/

Crashy_Time

Planet_Switzerland wrote: »

There were other properties sold, just not one bed flats.

I`m not doubting you, but it is hard to imagine that as well! I would have thought the only way many people could get into the London bubble would have been via a one bedder?

Crashy_Time

brit1234 wrote: »

Yes, the landlord stuff for september is below:

https://www.youtube.com/watch?v=Nj8OUH2t764

Not many people know about it and many landlords with 4+ properties will be in line for a shock. Its the 2nd part of the PRA reforms.

Below is a story on the foreign ownership land registry reforms which is already scarring money launders.

https://guardian.ng/property/panic-grips-nigerian-investors-as-uk-opens-foreign-property-register/

Interesting, cheers.

Planet_Switzerland

Crashy_Time wrote: »

I`m not doubting you, but it is hard to imagine that as well! I would have thought the only way many people could get into the London bubble would have been via a one bedder?

That's true, but it would be more to do with the owners not selling rather than people not wanting to buy. If the owners are landlords who bought in the 90s they are probably making too much rental income to consider selling.

Crashy_Time

Planet_Switzerland wrote: »

That's true, but it would be more to do with the owners not selling rather than people not wanting to buy. If the owners are landlords who bought in the 90s they are probably making too much rental income to consider selling.

I would expect more sales now then, because of the BTL tax changes?

GDB2222

Planet_Switzerland wrote: »

That's true, but it would be more to do with the owners not selling rather than people not wanting to buy. If the owners are landlords who bought in the 90s they are probably making too much rental income to consider selling.

Why sell, and incur a CGT charge, then pay stamp duty if you reinvest in property?

Crashy_Time

http://business.financialpost.com/news/fp-street/home-capital-taps-lifeline-as-accounts-bleed-more-than-1-billion-in-withdrawals-in-one-week


Any contagion risk to UK banks?