Is now really a bad time to buy?

Parking_Eyerate

Crashy_Time said:

Parking_Eyerate said:

Crashy_Time said:

MobileSaver said:

Crashy_Time said:

 it is the pressure on BTL and Airbnb that will flood the market as hanging on to where you live is one thing while paying council tax on an empty flat is quite another.

Why will there be a significant number of empty flats in the future? Where will all these people currently living in them live instead?

Most people of reasonable intelligence could come up with one reason (clue, it starts with "R") and maybe four of five places the people could be - I`ll start off with  1) At their parents. - Can you really not think of any more?

Interestingly, apparently the lockdown has helped fuel an increase in rental demand from some. I’m sure it may be different in different areas etc. but it does indicate that there is no one size fits all theory or answer to this situation.
https://www.bbc.co.uk/news/uk-england-52847319
So some places might have a ‘flood’ of BTL or AirBnB properties as you put it (you do seem to be salivating a bit over the idea), but others might not. Do you actually think you can reliably predict everything about what will happen everywhere?

The out of work banker on UC should raise red flags for anyone paying attention.

The person who had recently moved from the Caribbean and had only just obtained an NI number when the lockdown happened? Are you serious? Wow, that's such a blatant red flag for anyone predicting a flood of buy to let and AirBnB properties coming to the market! How could anyone ever dream of doubting anything you say?!
Do you actually ever think about things you claim to read and pay attention to? What about the graph comparing recent rental demand to that of 2019, does that suggest any red flags for your universal collapse of buy to let theory or did you not pay any attention to that part?

Miranda25

MobileSaver said:

Crashy_Time said:

MobileSaver said:

Why will there be a significant number of empty flats in the future? Where will all these people currently living in them live instead?

  I`ll start off with  1) At their parents. -

LOL! You cannot be serious?!?! Even if moving back to parents is an option (which for many it won't be) only a small number of people would actually choose to do that.

Do you have any credible explanations as to why landlords will be "flooding the market" with their "empty flats"? Or was this just wishful thinking on your part?

For example, London is full of foreigners. If there are no jobs after lockdown, they will leave the country and more empty flats coming. I think a lot of Polish people are leaving the UK?

MobileSaver

Miranda25 said:

 I think a lot of Polish people are leaving the UK?

A lot of Poles left last year, mainly due to Brexit, is there any evidence of a mass exodus post-coronavirus?

MobileSaver

Crashy_Time said:

RelievedSheff said:

Where do you get yours from because it is at complete odds with what everyone else is seeing?

BBC, where else?

It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?

Boris Johnson - right to live in UK for over two and a half million Hong Kong citizens

Crashy_Time

MobileSaver said:

Crashy_Time said:

RelievedSheff said:

Where do you get yours from because it is at complete odds with what everyone else is seeing?

BBC, where else?

It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?

Boris Johnson - right to live in UK for over two and a half million Hong Kong citizens

Do you honestly think 2.5 - 3 million are going to come here from HK? Many of the people wishing to leave will have foreign passports anyway for various countries and will have their plan B drawn up long ago, and if they did leave the dispersion is going to include UK but also Australia, Taiwan, U.S, Canada etc.etc. Don`t you understand that if HK is basically evacuated we are going to see major disruption to global credit markets and hence lending including mortgage and BTL lending? This along with Brexit and the inevitable recession more than neutralises any "benefit" from an influx of people who you hope are desperate for accommodation! (did it ever cross your mind that many choosing to come back to the U.K already own a property here anyway and don`t need to buy or rent?)

RelievedSheff

Crashy_Time said:

MobileSaver said:

Crashy_Time said:

RelievedSheff said:

Where do you get yours from because it is at complete odds with what everyone else is seeing?

BBC, where else?

It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?

Boris Johnson - right to live in UK for over two and a half million Hong Kong citizens

Do you honestly think 2.5 - 3 million are going to come here from HK? Many of the people wishing to leave will have foreign passports anyway for various countries and will have their plan B drawn up long ago, and if they did leave the dispersion is going to include UK but also Australia, Taiwan, U.S, Canada etc.etc. Don`t you understand that if HK is basically evacuated we are going to see major disruption to global credit markets and hence lending including mortgage and BTL lending? This along with Brexit and the inevitable recession more than neutralises any "benefit" from an influx of people who you hope are desperate for accommodation! (did it ever cross your mind that many choosing to come back to the U.K already own a property here anyway and don`t need to buy or rent?)

so where are all of these empty properties that these people already own?

If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?

Crashy_Time

MobileSaver said:

Miranda25 said:

 I think a lot of Polish people are leaving the UK?

A lot of Poles left last year, mainly due to Brexit, is there any evidence of a mass exodus post-coronavirus?

The government are still supporting people`s wages, the exodus comes when that stops and the level of unemployment becomes clear and/ or people`s "Right to Remain" is challenged. Not sure why someone who supposedly owns outright in rural Wales is desperate for BTL/Airbnb to remain unscathed in the biggest recession for 300 years, maybe you have some other properties that you rent out?

TonyMMM

Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers

Crashy_Time

RelievedSheff said:

Crashy_Time said:

MobileSaver said:

Crashy_Time said:

RelievedSheff said:

Where do you get yours from because it is at complete odds with what everyone else is seeing?

BBC, where else?

It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?

Boris Johnson - right to live in UK for over two and a half million Hong Kong citizens

Do you honestly think 2.5 - 3 million are going to come here from HK? Many of the people wishing to leave will have foreign passports anyway for various countries and will have their plan B drawn up long ago, and if they did leave the dispersion is going to include UK but also Australia, Taiwan, U.S, Canada etc.etc. Don`t you understand that if HK is basically evacuated we are going to see major disruption to global credit markets and hence lending including mortgage and BTL lending? This along with Brexit and the inevitable recession more than neutralises any "benefit" from an influx of people who you hope are desperate for accommodation! (did it ever cross your mind that many choosing to come back to the U.K already own a property here anyway and don`t need to buy or rent?)

so where are all of these empty properties that these people already own?

If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?

If the tenant finds another property back home in Poland for example (or goes there to live with family or already owns there) where does that leave your "fixed demand" theory?

Crashy_Time

TonyMMM said:

Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers

Think I posted something about that a couple of days ago, should be 20-30% IMO.