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general operations director, site owner and moderator - propertytribes.com
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Quite a lot I would imagine!
So anyone know what actually happened? This was originally posted 2 and a half years ago. How's Southampton these days for investment?
I bought a 5 bed bed student house in Southampton last year.
Due to Article 4 and additional licensing, very few C4 properties come on to the market.
When they do, they generally get snapped up very quickly.
I thought C24 would cause a lot more to come onto the market. This has not happened.
The good student houses let very quickly. I put mine on the market on 1/2 and re-let it for next year on 3/2.
SOUTHAMPTON City Council has rejected plans to transform a home into a HMO in Bargate on the grounds it would be an "unneighbourly form of development".
Developers had hoped to change the property at 56 Wilton Avenue into a home for up to three people to live in.
But last week city council officials refused permission for the development.Full/source article
Southampton City Council are very rigid in enforcing their Article 4 Direction.
An Estate Agent told me that he knew of only one owner being granted C4 permissions since 2012 (when the A4D was introduced), in the main student area.
I'm an investor in Southampton and built up a portfolio in 2014-16 of mainly young professional HMOs. I tended to buy existing HMOs and also did a conversion to 6 flats. I avoided the student areas because its really hard to pick up a good value property without a huge hike for the HMO scarcity.
I've changed my strategy in the city - picking up lease purchase options where the landlord is tired or the property is empty
This is a classic 5-bed student HMO in Southampton.
The current yield is ~7.4%. If you'd bought it 5 years ago it would have cost ~ £250k and give a very reasonable yield
Fantastic news for Southampton's economy - a strong employment boost in the first quarter of this year has put it in the top ten for growth nationally.The UK Powerhouse report is produced by Irwin Mitchell and the Centre for Economics and Business Research (Cebr). It provides an estimate of GVA growth and job creation within 46 of the UK’s largest cities.
The latest study revealed Southampton’s GVA growth of 2.4 per cent in first quarter of 2018 made it the sixth best-performing city economy in the UK, with Portsmouth and Bournemouth also recording growth of 2 per cent and 1.7 per cent respectively.
Southampton trailed only to Leeds in terms of employment growth, with its workforce growing by 1.9 per cent to 160,800.Full/source article