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I was thinking this morning about the new Licence that has been introduced in Newcastle On Tyne
One area I know very well and its always been a cut above the areas which I purchase investment property
The Area is largely Victorian and has been very good for HMO Student and Professional Lets it has good transport and shops and compared to where I buy its a little more up market
In my own area a Tyneside Flat is around 75K rent around £450 Pcm
The area with the new Licence Flats are around 125k 145k and more
There are sections of the Licence are which are quite expensive some houses are over 350k which is good price
In my area House would be 50% lower
My thoughts are I am in a working class are the Licence are is in what has been seen as a middle management area But I dont have a Licence
so my question will the New LIcance effect the area in a bad way
The area has been picked because of ASB poor repair ect
Are we seeing a change here
The outcome could be that home owners could see the value of there homes falling because its a Licence area I know for certain it will not have a Good effect when buyers relise they are buying in an area which the Council has out lined as a poor area Now
If I was a home owner would I be happy at what the Council has done a blanket Licence covering Thousands of home that at one time was a good area
Or has BTL brought the area down
I think the thing I have learned is maybe the Eight Streets thing may not be wise because if a Licence comes to the area the costs of being a Landlord could be high and it may well effect the capital values of property for all home owners
This is why I strongly believe a licence on every property in an area is a bad thing because it can cause more harm than it solves in the long run.
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.
The new Licence are Is Heaton which borders Jesmond very similer area but not quite as expensive
But very similer in lots of ways
Some swanky Agents look down on my area who trade in Heaton but there are is now Licanced how odd is that
Property cost more than my area and the council just stick a licence on it
Heaton was a big student area and with the new student blocks I think students have moved on and its depressed Heaton hence More DHSS ect in Flats& HMOs that may have been used by students
Its really strange when you think about this
Motorists have been screwed by the Govt for over 20+ years with increasing fuel prices (duty), road tax, scameras, congestion charge, T-charge, narrowing roads, etc..... did we retaliate? no.....did the Govt buckle, no....... now its the turn to milk the LLs and I doubt the result will be any different.