Just when you think the good days are gone

triathlon

This is only anecdotal, but I went with a property investor friend to a university town, well it was actually a town very close to a university town which for some reason seems to have been totally overlooked until now, maybe because of the now improved transport links.
Property was amazing and sitting down in a country pub having a meal later we just quickly put pen to paper and did a few numbers on a potential HMO conversion for a 5 bedroomed property.

Was it doable?
Put it this way, for the first time in years after thinking I have made more than enough and do not want to start taking risks at this time, I found myself going home and doing some research this weekend for myself before this area is saturated with too many BTL's in the coming months.

Since the election and with a now a clear Brexit plan, there is a strong feeling that confidence is returning, and it's been only 5 weeks since the election. I have heard other stories also of people wanting to expand just recently.

Seriously, every time I think this is it, the good times have started to stall or even come to an end, there is fresh life again.

Are we entering yet another boom?

lisyloo

I have a friend who works in finance.
The deal they have been working on is a multi million pound property deal for student accommodation (I don’t know where).
This reflects confident from the lenders, surveyors and professional landlord who wouldn’t be embarking on such a project without experience in the business.

It could be limited to certain sectors of the markets but it appears some have confidence that there is money to be made and are putting their money in it (the real test).

Arklight

I suspect the "good days" are rather more apparent for the people who own HMOs than those who have to live in them. However, with beloved 'Bojo' in power for 5 years they will be a desirable step up from the slums.

Hey, maybe you can get an early in on converting hospitals into workhouses, and debtors' prison expansion on the sites where the libraries used to be.

Arklight

lisyloo wrote: »

I have a friend who works in finance.
The deal they have been working on is a multi million pound property deal for student accommodation (I don’t know where).
This reflects confident from the lenders, surveyors and professional landlord who wouldn’t be embarking on such a project without experience in the business.

It could be limited to certain sectors of the markets but it appears some have confidence that there is money to be made and are putting their money in it (the real test).

When companies like Unite and Liberty Living were entering the marketplace over a decade ago I though there was no way that students would pay those prices. Student accommodation is meant to be basic, not wall to wall flat panel TVs and rainforest bathrooms. But, many do. It either goes on the loan and living expenses go on the overdraft, or it's a direct debit from mum and dad.

lisyloo

I’m not convinced the entire market is good.
For example many struggling chains (now beales) are negotiating rent reductions, so that doesn’t look like a great sector to be in and with lots of stores also moving business on line, the high street is dwindling not thriving.

I think there are thriving sectors and dwindling ones so it’s not boom times across the board.

triathlon

Arklight wrote: »

I suspect the "good days" are rather more apparent for the people who own HMOs than those who have to live in them. However, with beloved 'Bojo' in power for 5 years they will be a desirable step up from the slums.

Hey, maybe you can get an early in on converting hospitals into workhouses, and debtors' prison expansion on the sites where the libraries used to be.

If there is a type of argument I hate it's the type you just gave.
All that's asked of a British citizen is to be law abiding, pay your taxes, and try to put something back into society, I work for a homeless charity by the way, what do you do?.
And then everyone has to make a living and as long as you follow the rules and play the game, which I do, there is no problem, even morally.
If you are trying to claim things are on a par with the times of Charles Dickens then there is no point even giving you the time of day

I offer housing, and with this venture I am offering it to people staying only for a few years and usually to professional people or even some students , I am proud of what I do and what I contribute to society, what do you do that is so special ?

Thrugelmir

triathlon wrote: »

Since the election and with a now a clear Brexit plan

Suspect that we haven't seen the end of intransigence from the EU. Switzerland's ongoing angst over an agreement suggests that the relationship will deteriorate over time.

Herzlos

What good old days fo you mean? The rich have always been able to buy property to rent to the poor.

I don't see any indication that the wealth inequality is improving, I'm not sure those just-about-copings will regard this as the return to the good old days.

Arklight wrote: »

When companies like Unite and Liberty Living were entering the marketplace over a decade ago I though there was no way that students would pay those prices. Student accommodation is meant to be basic, not wall to wall flat panel TVs and rainforest bathrooms. But, many do. It either goes on the loan and living expenses go on the overdraft, or it's a direct debit from mum and dad.

I thought the same, but there are plenty of wealthy students (quote often foreigners) who are happy to spend a fortune on luxury accommodation.

When I went to university we lived in a flat barely better than a squat, but I wasnt rich and this was when landlords could get away with murder (or at least, negligent death). Theres definitely a market for cheap functional accommodation and luxury accommodation.

[Deleted User]

I don't really understand the use of "good times" other than you've spotted an opportunity.  I'm all for people putting work in and making a house habitable.  If I could afford a freshly renovated house I would buy one for sure. But I'm struggling to see how our society can keep going without a real solution to the housing crisis. That should worry anyone who benefits from society.  We all lose in the end.

triathlon

amywoodmead said:

I don't really understand the use of "good times" other than you've spotted an opportunity.  I'm all for people putting work in and making a house habitable.  If I could afford a freshly renovated house I would buy one for sure. But I'm struggling to see how our society can keep going without a real solution to the housing crisis. That should worry anyone who benefits from society.  We all lose in the end.

Society is still "going", just look at the numbers still buying and selling houses. And just like every period in history there are those that have it in them to buy and those who sadly don't, it is just the survival of the fittest, what other alternative is there, that the strong just roll over because they feel sorry for the weak and let them have the spoils, though it is getting too close to that now.

BikingBud

Herzlos said:

When I went to university we lived in a flat barely better than a squat, but I wasnt rich and this was when landlords could get away with murder (or at least, negligent death). Theres definitely a market for cheap functional accommodation and luxury accommodation.

And the landlord was called Jerzei Balowski: