Anyone Buying At Present?

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    Anyone Buying At Present?

    Wondering if BTL investors are buying at the moment, taking into account property prices and uncertainty over Corona, jobs and the economy? Property prices still seem to be holding up near me and lots still selling. Anyone care to predict what's going to happen to prices and demand in near future.

    I'm still undecided about buying in Bristol. Been looking at modern 2 bed houses that were around £210K beginning of year and these seem to have crept up to around £220K now. Rent would be in region of £850 p.m. Not sure if these are now getting over priced and should wait and see what happens with prices and economy.

    #2
    I’m waiting to see what happens, I find it hard to believe that prices will be any higher this time next year than what they are now.

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      #3
      I think the Stamp Duty holiday is boosting prices and bringing buyers into the market. Look for a lull next spring if you like but the market seems quite buoyant just now.

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        #4
        Yields seem fairly horrendous. £850 pcm on a £220k property is 4.6% gross with no voids.

        Rental return is low, compliance requirements and risk are high.

        I don't see much of a case for buying unless you can do something clever or find something genuinely underpriced.
        There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.

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          #5
          Look further North. You can much better yields and the market is only getting going there. Lots of interest and competition

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            #6
            I own a 4 bed property in Bristol. Cost £195k in 2016, now worth £230-240k, all rooms very good sizes, ex. LA. The house has two reception rooms so I use one as the fourth bedroom. My rental yield currently is 8% with all bedrooms rented based on purchase price which is now on the low side for the area based on what I have seen recently on spareroom, there is potential for it to be 9% and still competitive now. My house is in an area with good rental yields for Bristol, there were not many landlords in this area a few years ago, there are now more but the demand for rentals here is strong.
            The OP needs to do some more research I think if intent on buying in Bristol. For £220k it is possible to get a 3 bed house in Bristol currently in an up and coming area. As others have said if you are flexible regarding area then your money will go further in the North.

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              #7
              Unless it’s a super bargain I’d hold my nerve for 9-12 months and see where we are. Govt is propping up the economy which when removed the market is going to adjust IMO

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                #8
                I think I've had a lucky escape. I would have bought after lockdown but prices in my area have increased so I didn't. Given yesterday's changes and possibility that it could take over a year to evict a non-paying tenant whilst still obliged to repair, pay for eicr/gas checks etc etc I'm glad I didn't.

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                  #9
                  Originally posted by Dan_Manchester View Post
                  Unless it’s a super bargain I’d hold my nerve for 9-12 months and see where we are. Govt is propping up the economy which when removed the market is going to adjust IMO
                  Not sure the government will withdraw support for the economy in our lifetimes. The BOE is still supporting the economy after the crash of 2008!

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                    #10
                    The big government support measures (i.e. the likes of furlough) have to be withdrawn. The recent reductions in LL's possession rights seems likely to prompt/force more landlords to sell. And then there's Brexit. So I would have thought prices are likely to drop.
                    There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.

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                      #11
                      This time six months ago i was all up for buying, I had spent the previous five or six months refinancing and had (and still do have) money set aside for deposits on three more properties, I was gradually working my way towards getting out of the day job and into property full time. Now with all the balance of power being thrown towards tenants and this ridiculous shutting down of the country and the costly furlough scheme that seems like it’s never going to end I’m happier to stay in the day job that I previously couldn’t wait to get out of, I know my job inside out and just need to turn up each day and do my work, the vacancy I would’ve created by leaving would’ve created job openings for other people further down the ladder as my job would need to be filled by somebody else and that person filling my job would leave another job that needed to be filled by somebody else etc etc etc. Even buying, renovating and selling doesn’t appeal what with the uncertainty around capital gains tax changes.
                      Some of the first time buyers that think evil landlords are pricing them out are welcome to step in and buy as many houses as they want, maybe they’ll soon realise that the government control the housing market however they want to control it and that is not with first time buyers in mind which has been made evident by the recent abolition of stamp duty which has put all main residence buyers on a level playing field and made it more difficult for first time buyers as it has only succeeded in pushing prices up as the money that would’ve been paid in stamp duty by non first time buyers now goes towards a higher offer on the house.

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                        #12
                        Your anger is revealed by the sparse punctuation.

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