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Lots of advice for new investors to leverage still with some words of caution.
The question is what do you think the BTL market will look like in ten years time?
Regulation, taxation, mortgage availability, leverage, rent levels, yields, HPI etc etc
If you can ride the storm you'll definitely be quids in.
I am a human bean.
The massive out cry from those unable to get on the property ladder and high rents will force all future governments to address the problem.Schools, hospitals, council services , transport services in big cities will begin to fall apart as low paid staff can't afford to live in these places( already taking place). Slowly the private landlord is being squeezed out by taxation, regulation and unacceptability for owning lots of properties. As we go into recession within the next 2/3 years people will lose jobs and be unable to pay rent. homelessness will build up resulting in massive social disorder as people take to the streets.People go on rent strike . That's when it gets ugly.
Last few years its been a one way bet, low rates, easy money, and house price growth . Landlords cannot expect an easy ride over the coming years. -the good times are well and truly over.
I totally agree
House prices will fall over the next 10 years
in real terms especially in the SE where the shortage of homes are highest.
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.
I only know 2 post codes well in Greater London, and those prices havent fallen and are still rising
the prices in my area are less than most towns 20 miles from London
3 bed house being advertised for £330k today in my area
I wouldnt dare to comment on the SE as a whole and still less about an area I dont know like the NE
you generalise too much.
Chartered Accountant, FCA 34th year in public practice,
BTL since 1992
Definitely Sutton seems fine. I have had 2 properties revalued for better mortgage rates with 2 different lenders in the last 2 weeks. I thought my figures in both cases were top end because I thought I might as well be bold. Both were very quickly agreed.
Zoopla values have also been building back up nicely for Sutton.
I can only go by the comments I see from RICS
They reported that prices were falling in London
The question I have to ask is are they wrong
Maybe you know better than RICS
London 32 London Boroughs, population 8.8million people,
SM5 postcode LB of Sutton population 29.917,
in the above their is no original thought, mere regurgitation of information posted elsewhere
I am sure your right about the area
but one Swallow doesn't mean it summer
I just read the survey and Land registry reports
I know one thing if London has a cold the rest of the UK gets the flu
I was quite shocked yesterday when I saw a house for sale next to a one I purchased for 62k in 2012
the house next to mine is on the market for 120k in 2018 so I have made a tidy profit
Great news on the face of things but I will be interested to see what it sells for
That's the real acid test.
``I was quite shocked yesterday when I saw a house for sale next to a one I purchased for 62k in 2012
the house next to mine is on the market for 120k in 2018 so I have made a tidy profit``
I am pleased for you DL that good healthy CG has finally reached the NE
This mirrors MK from 2010 - 2016 . I am seeing a levelling off now with some being reduced some not
I bought 5 in 2010 . I wish I had bought more
With this anecdotal evidence of yours the ripple from London takes about 2 years to travel 250 miles or so
An investor who is not concerned about where geographically they invest in the UK should take note
Like a surfer they could buy just ahead of the wave and dramatically increase their wealth comparative to the stay at homers. Then sell at the peak and reinvest at the dip elsewhere. Easier said than done of course
But waves come and go and when the wave has reached high tide in the NE and starts to drop away......
London will kick off again gather its speed again and supersede its current lull .
The beauty of the property cycle will start again
Get yourself a good surfboard new investors and ride those waves
Jonathan Clarke. http://www.buytoletmk.com
JC I understand the market as well as you do
and I have made some tidy money since 2007 The one I outlined here is just one example
In real terms its only property I purchased in 2005 ish and Re mortgaged out at 85% which caused me an issue of negative equity
and they were with Good old ME
But I am in a healthy state Good Cash flow and Property Prices rising
and after my Build to Rent is finished I may come back to BTL with leverage via the company
But for now I am not adding new BTL to my business with leverage