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There's been a great deal in the media recently about how the London property market is in decline, both in terms of prices and rental yields.Like any market, it's very hard to make generalisations. I have found that London is made up of many smaller micro-markets where comparables can differ from street to street. Location is everything in London and intense due diligence should be undertaken.Key things for BTL in London are:1. Within 10 minutes walk of a tube station or on a bus route into the centre/West End.2. A decent area that feels safe to walk around at night3. Local amenities such as supermarket, restaurants, bars etc.I've been a landlord in London for 14 years now, so I've recorded the below video with a few thoughts on it:
See my full guide of how to BTL in London >>> here.London can also work very well for holiday lets and short term rentals, provided that you respect the legislation and any local authority rules.SEE ALSO - Spotlight: London investment property marketUP NEXT - Spotlight: London investment property marketDON'T MISS - Brexit good news for London property pricesNOW WATCH:
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**
Deloitte are also positive about the future of the property market in London:
Any market is a great market if it makes money
But we are in a sector which is under huge change
We can only inhabit this sector with Govt Will
I don't think we have Govt Will I see a Govt who doesn't want banks to over lend and I see a Govt who wants more regulation
I also see a Govt who wishes to tax more and more
I see a Country divided I see low wage growth
and I see a Govt who would rather see home owners rather than landlords
It doesn't matter where you invest to make money If the Govt takes over 50% of your profits
If you can roll the clock back to pre Osbourne its was like shelling peas
today the Bean stalk is higher then ever before and the easy beans have gone
its all down to an investor to ask themselves the question
Will we have more regulation
Will we have Higher Taxes
Will we have harder lending rules
Will my Effort and risk be rewarded enough for me to be a Landlord in the future years
Just because it worked in the past Doesn't say it will work in the future
Its all down to Government Policy Not down to the Landlord.
Learn Change and Adapt ?????
I sold a flat last year due to S24.
The Rightmove sold index shows the extent of price rises in Greater London.
As you can see the property increased in value well over 400% in 20 years.
Interestingly in terms of DD, Rightmove doesn't show that I bought it in 2014.
Whilst I certainly didn't sell at the peak, I think I'd be lucky to get £330 for that property now.
Flat XX, Maryland Court, 1, Lambourn Grove, Kingston Upon Thames, Greater London KT1 3SE
It’s still been a fantastic investment for you Dom the North is so different the nearest I can come to a comparison is 12k flat purchase in 1989
value today 75k.
But in the north is been a very up and Down market
the future is so uncertain
House prices in London recovered in the latest quarter as the city’s property market begins to stabilise.
Hometrack, which provides residential property data, reported that prices had increased by 1.8 per cent in the three months to June. That came after a 1 per cent decline over the previous six months.Full/source article