Brexit DOOM™: BTL
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  1. #11

    Old Greg is my bitch's bitch

    northernladyuk - scorchio!

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    Quote Originally Posted by AtW View Post
    "Rents in Britain have recorded their first annual drop for six years, according to the UK’s biggest estate and lettings agency.

    In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Countrywide, which compiled the figures, said the buying frenzy ahead of the hike in stamp duty last year pushed up the supply of new homes for letting by 10%. Meanwhile tenant demand has been dropping, particularly in London, possibly related to Brexit.
    England's housing market is 'broken', government admits in white paper

    Rents are falling fastest in the capital, down 4.3% over the year to an average of £1,246 a month. It means tenants are now typically paying £63 a month less to secure an apartment compared to last year.

    Rents in the south-east have also dropped, by an average of 2.6%, but in other parts of the UK they are still rising. Countrywide said rents in Wales were up 5.3% over the last 12 months to an average of £636 per month, while in the east of England they rose 3.1% to £945.

    In London, the supply of new homes to let is up 18%, but the number of tenants looking for properties has fallen by 3%. Tenant demand is also falling in the south-east, but in other parts of the UK it continues to rise."

    https://www.theguardian.com/business...y-hike-letting

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  2. #12

    Fingers like lightning

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    Quote Originally Posted by AtW View Post
    Bubbles don't get corrected - they get burst.

    Triggers could be difference, in this case Brexit can easily be one for London property - a fair few foreigners don't feel welcome anymore and they'll move somewhere else.
    The kind of foreigners who should be (wrongly) feeling unwelcome by the Brexit vote are those who can't afford a property of any description in London. So that can't be the reason.

    The foreigners in London who can afford London properties don't give a **** what Brexit voters think. Fairly sure those Russian oligarchs aren't giving two hoots in that respect.

  3. #13
    AtW
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    Quote Originally Posted by chopper View Post
    The kind of foreigners who should be (wrongly) feeling unwelcome by the Brexit vote are those who can't afford a property of any description in London. So that can't be the reason.

    The foreigners in London who can afford London properties don't give a **** what Brexit voters think. Fairly sure those Russian oligarchs aren't giving two hoots in that respect.
    We are talking about renters here.

    For example Governor of the Bank of England is a renter.

    For rich foreigners Brexit is also bad because buying property in a EU member state is much more interesting, a fair few of them would now choose Paris, Berlin, Amsterdam, Vienna etc

  4. #14

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    Quote Originally Posted by AtW View Post
    We are talking about renters here.

    For example Governor of the Bank of England is a renter.
    But not from the EU. I don't think he feels unwelcome.

    The average pret-a-manger worker can't afford to rent a place in London. Not even when shacking up with ten of his mates.

    For rich foreigners Brexit is also bad because buying property in a EU member state is much more interesting, a fair few of them would now choose Paris, Berlin, Amsterdam, Vienna etc
    So what you're saying is that demand for properties in London is coming down because foreign buy-to-letters are choosing elsewhere, thus causing prices to become more sensible.

    Boom. BOOOOOOM.

    Lets have more of that.

  5. #15
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    Quote Originally Posted by chopper View Post
    But not from the EU. I don't think he feels unwelcome.
    He gets £5k per week taxpayer-funded housing "allowance".

  6. #16

    More fingers than teeth

    OwlHoot - scorchio!

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    Quote Originally Posted by northernladyuk View Post
    Short URL alert! NLUK may be sending us off to some dodgy porn site that keeps popping up windows all over the place!

    We're not discussing _that_ sort of renter!
    Work in the public sector? Read the IR35 FAQ here

  7. #17

    Old Greg is my bitch's bitch

    northernladyuk - scorchio!

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    Quote Originally Posted by OwlHoot View Post
    Short URL alert! NLUK may be sending us off to some dodgy porn site that keeps popping up windows all over the place!

    We're not discussing _that_ sort of renter!
    It is pretty grimy but SFW.
    Where there's muck there's brass.

  8. #18

    Banned

    diseasex has more data than eek


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    Quote Originally Posted by sasguru View Post
    Nope. Ride the markets, cowboy. Yee hah!
    what you invested in ?

  9. #19

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    Quote Originally Posted by sasguru View Post
    Why do you think I sold my BTLS last year?
    Bad weather affecting the rental price of allotments out on the east side of Scunthorpe?

    I'll bite. Entertain me.

  10. #20

    Better than AtW

    sasguru - scorchio!


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    Quote Originally Posted by diseasex View Post
    what you invested in ?
    Boring index trackers.
    "The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is."

    Winston Churchill

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