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Buy-to-let investors who fear they may be left homeless
Comments
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There was nothing in the areas I was looking at under 215 one bed, now theres plenty at 160 not sold.
Where? London E3.
Are you sure?
I have a few BTLs there and they are not only holding their value, but rents are increasing too.
1 Beds are going for minimum £250k, and 2 beds are going for £330k plus.
If you dont believe me, look for postcode E3 2US in rightmove (or better still, try www.o-j.co.uk and look for properties in Bow Quarter)
Rents for 1 beds are approx £250per week, and over £320pw for 2 beds.
I'm not trying to talk up the market, but what I am saying is that a lot of the older (approx 15 years or so) private development still hold their prices for both sales and rental0 -
ncooper1974 wrote: »Are you sure?
I have a few BTLs there and they are not only holding their value, but rents are increasing too.
1 Beds are going for minimum £250k, and 2 beds are going for £330k plus.
If you dont believe me, look for postcode E3 2US in rightmove
E3 on rightmove. Flats from 150k
http://www.rightmove.co.uk/action/publicsite.PropertySearchRENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
IS this a "paradigm Shift" (oops, nearly left out the F) in Property prices.tribuo veneratio ut alius quod they mos veneratio vos0
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Much as I'd love to see guys like these (& that downright nasty Millard woman) having to sell themselves down the docks to make get a roof over their head, they won't end up homeless. They may have to rent; but that's not the same as being homeless is it?"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
MissMoneypenny wrote: »
Within 1/2 a mile of E3 2US, the flats start at about £170K. For a two bedder. Less than the £250K for a 1 bed or £330K for a two bedder quoted. I think there has been some error made somewhere.0 -
I agree that you can get a 2 bed flat for approx £170k within half mile of E3 2US, but my point was that the 1 bed flats in Bow Quarter are going for as much as £250k, and there are people out there paying those figures!0
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Don't they keep telling us on "The Real Hustle" that an honest man cannot be swindled?
I'm not sure that's entirely right, thinking of old ladies who get ripped off just wanting their heating fixed, etc....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
If you had sold to rent 3 years ago you would be much worse off now than if you had stayed in and sold today
Depends where - I understand that in some places, prices haven't changed much over the last 3 years, such as Nottingham....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
ncooper1974 wrote: »I agree that you can get a 2 bed flat for approx £170k within half mile of E3 2US, but my point was that the 1 bed flats in Bow Quarter are going for as much as £250k, and there are people out there paying those figures!
You did use the words "minimum" and "plus". Now you use "as much as" which has an entirely different meaning. But I don't see even your new point. Lynzpower said that previously nothing was available for 215 in an area, now plenty at £160K not sold. You disputed this, and gave a postcode. Even a tight search around that postcode (let alone E3 in general) supports Lynzpower's assessment not yours.
There will always be expensive flats selling. But how does this contradict what Lynzpower was saying?0 -
like anything you need to know when to get in and when to get out.
As the bishop said to the actress.......much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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