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Being a NE Landlord I have seen the good and the bad times with Property Investment
It's quite something when you realise you have owned a Property since 2005 and made no capital growth!
This is certainly true with property I purchased in 2005
The question now has to be where are we all going next?
My own guess is we are all going to feel a similar effect in the coming years
I think so much is changing in the UK today, it's hard to see Capital Growth
The Stock Market is falling and it looks as if Property is doing the same
I know I never thought in a month of Sundays that I would have a property for 13 years that has never made a penny in growth
I personally don't need to sell and If I see little growth in the coming years it makes my life easier to sell my own property into my company
I knew when I became a Landlord that property I purchased would never be sold and I stick to that rule
As long as I have Good Customers and good yields I will plough on
I still find life ironic I purchased BTL to provide me with an income into my old age
Now I am using the Income to fund My Pension and my wife's pension
I have learned never say never in this game and keep an open mind
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Sobering thoughts. At inflation of say 2% for each of those 13 years, on paper wouldn't you be down overall value wise by quite a bit?My quick spreadsheet calculation at say a starting price 13 years ago of £100k, the property could have been worth £98k at the end of it and moving on downwards!Now I know you didn't purchase outright, so hopefully the rent has made up for the annual inflationary loss in value? I'm not sure if inflation can be calculated this way so I'm sure someone will correct me.
I'm in exactly the same boat with my NE properties, luckily the NW ones have moved quite a bit in the last 2 years but it took 10 years to get out of negative equity after the crash.
Looking on the bright side I won't have much CGT to pay when I make moves to mitigate S24.
So true that is the bright side we can manoeuvre which is my intention
Is the lack of growth acting as a disincentive for FTBs in NE - despite 13 yrs of wage growth and flat prices?
Feel your pain. Yorkshire even worse. Still in £30k negative equity on a £110k property bought in 2007!
Not sure you can just categorise the three Ridings of Yorkshire with one comment, Portsmouth. Some of my high-end properties in Leeds had recovered from recession by 2013 and have seen 8% YoY growth since. In fact, I made my last residential purchase (18 months ago) in fear of being priced out of the market, things were moving up so fast.
Hi Simon with the OP saying North East I thought we were just generalising. My property is in Barnsley. Never again.
Can you give an example of what the yield has been for each year since purchase, I don't think you can look at one without the other.
The yields are good between 8% and 9% that’s why I am holding on to them and that’s why I am selling them to my company
they are good properties and rent well
That's significant and if reinvested helps to balance out the lack of growth when comparing with much of the SE and the higher growth and low yields.