How far will house prices fall [volume 4]

[Rovinghawk]

mike74 said:

The ''attacks'' on BTL have been anaemic at best

Taxing turnover rather than profit?

Massive increases in paperwork?

You know little.

[anonymous-user]

A little increase in volume:

105k sales in October 2017 versus 96k in October 2016, a 9.2% increase

https://www.gov.uk/government/uploads/system/uploa...


And some more cheap money for banks to lend - £25bn added to the Term funding Scheme pot

http://www.bankofengland.co.uk/publications/Pages/...

[mike74]

Rovinghawk said:

Taxing turnover rather than profit?

Massive increases in paperwork?

You know little.

BooHoo.

Ending of their tax breaks is the least they should be subject to and as for the ''massive increases in paperwork'' don't make me laugh!

[TheLordJohn]

mike74 said:

Utter rubbish. There is NOWHERE in the UK where you could buy a decent property requiring little/no renovation or maintenance work in a reasonable area where you'll attract decent, respectful tenants.

As others have already said at that kind of price point you'll be doing constant repairs and maintenance and only attracting the less reliable type of tenants

My house in the NE has had the same (excellent) tenant in for 12 years. It's worth (possibly) what he has quoted above, and rent is a little less than he's quoted.
I've had to put a boiler in it early last year (£1k, fitted, 7 year warranty) and the gas safety check and repair a leaking toilet just cost me £60 last month.
I'm providing a nice house, for a nice bloke, who has no intention of ever leaving.

There's nice people all over the country. There's just more of them the more North you go.

[TheLordJohn]

mike74 said:

BooHoo.

Ending of their tax breaks is the least they should be subject to and as for the ''massive increases in paperwork'' don't make me laugh!

Yes, hang the bas***ds.

How dare they own more than one house?
What do they think this is, a constitutional Monarchy with a capitalist economy!?

[Sheepshanks]

TheLordJohn said:

I've had to put a boiler in it early last year (£1k, fitted, 7 year warranty) and the gas safety check and repair a leaking toilet just cost me £60 last month.

You've managed to find remarkably cheap trades-people!

I know a couple of people who rent into the bottom of the market and I think a lot of it is about your own psychology - one seems to lurch from one nightmare to another and the other apparently never has any problems. He just seems to exist in a state of blissful ignorance about little things like rules and regulations, never mind laws.

[TheLordJohn]

It's the North of England.
Trades people aren't cheap, they're just normal prices.
They aren't ripped off by people when they need something doing, so they in turn don't need to rip people off.

It's only the south (where I'm stuck for a few years ) that does this.

[TheLordJohn]

anonymous said:

[redacted]

This is hilarious. That is literally all you get in London/SE.
My heating engineer was born in Newcastle. (that's England, BTW)
Runs a legitimate business and is always ran off his feet.
Could charge a lot more, I'm sure, if he so desired.

Edited by TheLordJohn on Tuesday 21st November 11:07

[Rovinghawk]

mike74 said:

Ending of their tax breaks is the least they should be subject to

Taxing turnover rather than profit is punitive. Legitimate expenses is hardly a tax break.

"Least they should be subject to"? I sense spite rather than rational consideration.

mike74 said:

and as for the ''massive increases in paperwork'' don't make me laugh!

Tenancy agreement, inventory, registration of deposit, right to rent paperwork, extra section 21 crap, landlord registration (for a fee, naturally), landlord 'training' courses, HMO rules & regs, local council crap..........................

Are you laughing yet?

[mike74]

Rovinghawk said:

enancy agreement, inventory, registration of deposit, right to rent paperwork, extra section 21 crap, landlord registration (for a fee, naturally), landlord 'training' courses, HMO rules & regs, local council crap..........................

Are you laughing yet?

Nothing wrong what so ever with that list, any responsible LL should be more than happy to comply with it.... in order to cover their own back as much as anything else

Only a spiv slumlord or a brainless, workshy, amateur ''property entrepreneur'' wannabee who realises they're well out of their depth would object to doing any of that.

(Which are you)?

[98elise]

mike74 said:

Rovinghawk said:

Taxing turnover rather than profit?

Massive increases in paperwork?

You know little.

BooHoo.

Ending of their tax breaks is the least they should be subject to and as for the ''massive increases in paperwork'' don't make me laugh!

Why are all other businesses entitled to this tax break, but not personally owned rental property? Even rental property in a Ltd company gets to keep the break.

Its simply an easy target for a tax raid because the general public won't kick up a fuss.

[Guvernator]

Get the media to whip the public up into a frenzy about tax dodgers, landlords, offshore accounts, the self-employed etc then target taxes at the new public enemy. Some might almost think it was a conspiracy to get the public to blindly accept more and more taxation.

Seems like it's working.

[tannhauser]

p1stonhead said:

jonah35 said:

gibbon said:

jonah35 said:

I think some people are still missing a trick

You can still buy perfectly acceptable 2 bed terraced homes or apartments in the north for £60k and rent them out for £450 per month

Buy 2 or 3 of those and ok you won’t be a millionaire but it always gives you a regular income

I don’t know why more people don’t do it

Because i dont want to be a professional part time handy man part time debt collector.

So many people earn £20-35k per year which is say roughly £1200-2100 pm net and they could put their savings to far better use than have £200k sat in cash isas, kids savings, a £30k car and so on.

How many people have any of this let alone people earning £20-35k?

Absolutely! Shows how disconnected this smug, self-congratulating poster is from reality. Most people earning average wages barely struggle to run a single household FFS!

[XM5ER]

mike74 said:

BooHoo.

Ending of their tax breaks is the least they should be subject to and as for the ''massive increases in paperwork'' don't make me laugh!

Who do you think will pay for the the extra tax take? The land lord or the tenant?

[kingston12]

XM5ER said:

mike74 said:

BooHoo.

Ending of their tax breaks is the least they should be subject to and as for the ''massive increases in paperwork'' don't make me laugh!

Who do you think will pay for the the extra tax take? The land lord or the tenant?

That must depend on the state of local rental market. In my area, rents seem to be easing downwards and the 'To Let' boards are staying up for longer than usual.

A couple of my friends that rent were asked for fairly large increases in the past year and both now rent different places as a result.

[mike74]

XM5ER said:

Who do you think will pay for the the extra tax take? The land lord or the tenant?

House prices are governed by how much cheap money people can borrow (lots and lots being the answer) and for how long (30-35 year mortgages now becoming more and more the norm)

Rents are strictly governed by how much people actually earn, so unless LL's are going to strong arm their tenant's bosses into giving their tenants a nice big pay rise then it ain't gonna be the tenants paying.

[p1stonhead]

anonymous said:

[redacted]

Someone perhaps gave away his hand that he has perhaps had a fairly hefty helping hand with his budding property empire and just assumed everyone got one

[tannhauser]

anonymous said:

[redacted]

Illustrates my point perfectly. It would take about 80 years to save 200k! How is it some people can be so (apparently) disconnected from the norm?!

Rather depressing too, quite frankly!

[scenario8]

anonymous said:

[redacted]

PH never ceases to amuse me with its perceptions of income and wealth. I’m just inside that previously quoted salary bracket and have none of the expected/assumed wealth to draw upon. Nor even any fraction.

I do, however, have an outstanding mortgage liability about equal to that assumed cash hoard.

Yes, I work and live within the M25 and frankly my long term (and immediate) finances are fecked.

tonker, could you pm me your trades? You might recall I’m local (outer SW London) and my previously used trades connections have all got older and wiser and moved out of my league.

[Rovinghawk]

mike74 said:

Rovinghawk said:

enancy agreement, inventory, registration of deposit, right to rent paperwork, extra section 21 crap, landlord registration (for a fee, naturally), landlord 'training' courses, HMO rules & regs, local council crap..........................

Nothing wrong what so ever with that list, any responsible LL should be more than happy to comply with it.

Why should I be happy with paying for registration only to have endless inspectors making up their rules on the spot? Why should I be happy with extra Section 21 nonsense? Why should I be happy giving tenants reams of paper about how to do their own due diligence?

As I said, you know little.

mike74 said:

Only a spiv slumlord or a brainless, workshy, amateur ''property entrepreneur'' wannabee who realises they're well out of their depth would object to doing any of that.
(Which are you)?

Name calling? How childish.

I'm a guy who runs a business & who doesn't like movement of goalposts to suit political whims.