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  • Buy-to-Let

    Investing near Canning Town station

    Council is talking rubbish as most of them do.

    They would never find out as a lodger doesn't need to be on the ER or Council Tax register.

    Once there are more than one person full CT is payable irrespective of occupant numbers.

    Newham Council are very easy to beat.

    A lodger of your tenants would NEVER be detected

    I have never and would never allow a council to prevent my tenants taking on lodgers.

    I would advise my tenants what they needed to do to prevent council detection of any lodger they may choose to take on.

    No way would I allow a council to control anything other than mandatory licensing of HMO for more than 4 occupiers.

    Any other stupid legislation would be ignored  because the council could not detect otherwise

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    Another high density development for 3,810 homes was approved by Newham Council for Canning Town, to be completed by 2029.

    https://www.homesandproperty.co.uk/prope...17906.html


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    This location seems to be oversupplied and will continue to be.

    Agent is telling me people will move from Canary Wharf and the development of Asia Business Port would be able to absorb the supply.

    However, with the stringent licensing arrangement imposed by the Newham Council, I doubt if it is really a good investment for landlord.

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    I know this area quiet well and have BTL experience there, i would say its a great up and coming location, with potential to really really grow further, but at the same time i would say currently there is too much stock in the area, with over supply of high end purpose built residential developments with more coming. I think one of the biggest issues in the last 5 years has been oversea's investors buying new builds, as well as investors who cannot afford canary wharf and the city investing in the area. All may seem positive, but they have overpaid by substantially, with a large amount of new build stock, and the prices you are quoted in your previous posts seems way to high to me, as a BTL investor your apartment will be on the market with another 3,500 apartments at the same time to rent, and at that point demand and supply equation plays in and the yields of 4.5% isn't attractive at all, i would say rather concentrate on houses, or units such as ex local where you can purchase and add value through refurbishment or planning.

    My experience of the area is there is a lot of super hype, and rental values are not as high as advertised or achievable at times. Specially with the amount of stock available in the market.

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