Planning permissions in the wrong areas

Planning permissions for new homes are being granted in the wrong areas, says Savills UK research: https://t.co/kKf2ddhFyr via @TeleProperty pic.twitter.com/xW9xwI8srV

— Savills (@Savills) June 19, 2017

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London new build sales halved

New build sales in London fall by almost half https://t.co/7ex6qWGSTi pic.twitter.com/0FzLGhkatU

— Mortgage Introducer (@MortgageChat) May 23, 2017

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Rent Hike Encourages People to Buy Properties

Earlier this year, property website Rightmove carried out a survey questioning 5,146 people. Rightmove revealed a report showing that 1 in 7 tenants expect their rent to be hiked more than 10% and half of tenants are expecting their rents to increase over the next year.

According to Rightmove, the number of people searching their website for somewhere to rent has increased by two-thirds. However, its rental listings have fallen by nearly a quarter on two years ago.



“Tenants that can play the trump cards of offering the most rent and superior references will be top placed as there is such fierce competition for a declining stock of properties” explains Miles Shipside, Rightmove director. 



Many landlords have started making buy to let purchases. Rightmove also surveyed landlords and found that because of the low performance of other types of investments for example bank accounts, almost 31% (one-third) of people were buying properties. It has also been reported that people have been seeking more advice from lawyers, surveyors and taking out landlord insurance which shows the boost in the people that are interested in stepping into the property market.

FTB's feeling anxious

According to a survey from moneysupermarket.com, 'First Time Buyers' don't expect to be able to buy a property until they are 38 years old or 48 if they live in London ( they might as well go straight for a retirement flat to save on mucking about ).

It's all a bit of nonsense for you plucked out from the pointless world of online surveys.

Pick a figure, any number, now double it, write it down, don't tell me what it is......

I suppose that it reflects the attitude of youngsters to the current economic status in this country, one bit of comfort for them is that sentiment is very changeable in the financial world.

See how you feel in a few years time.

Read more in Citywire article

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That costly Cube

The worst that can happen on the TV's , The Cube, is that you go in with nothing and walk away with nothing, you've probably also had a free lunch, wandered around a TV studio and met Pip Schofield to boot, so not all bad.

However 'The Cube' in Birmingham has been a far more costly experience for many of the property buyers who took on the challenge and bought off plan apartments in this Brummie 'architectural show ( off ) piece'.

With values dropping 20 percent by the time of it's completion many hopeful contestants/ investors were left tens of thousands of pounds down on their investment. Unlike the smiley Pip Schofield who would ladle out a big dollop of sympathy and send you on your way with a pat on the back, the administrators of the troublesome Brummie Cube are coming after investors for everything they've got.

If life was only as simple as bouncing a tennis ball into a dustbin..........

Read more on the off plan investors plight here

Cheaper to buy than rent

Apparently buying a house is cheaper than renting a house and we have seen an increase of 1 million households renting in the past five years.

Don't you just love research and statistics?..........no?

Young still aspire to buy

Almost all young people under 30 want to make buying a home a top priority, and don’t want to settle for long-term renting.

The poll, of 2,465 consumers of all ages, blows wide open the theory that more and more will go the European way and choose to be tenants for lifestyle reasons.

People under 30 are more opposed than any other age group to ‘continental’ models of tenure in which families routinely rent for the duration of their adult lives.

In a new poll 9 out of 10 of the 18 to 29-year-olds questioned would not be happy if they were forced to rent property throughout their life.

64 percent also said they would not be happy if they were still renting when they were looking to start a family.


The research, was conducted independently for Barratt Homes and points to a continued culture of aspiration to home ownership in the UK despite the property crisis of recent years.

So much for the shift towards the continental concept of long term renting.

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The rise of the rent generation

The Telegraph reports on the move away from the aspiration to buy your first home. Giving anecdotal evidence in the form of some London professional renters who don't feel the urge to jump on the property band wagon.

Do we see this as a generation moving away from Britain's love affair with property to a more European style of long term rental?

Well, no! It's a sign that the housing market is stacked against first time buyers jumping on the ladder and that journalists were struggling with a 'no news day'.

The reality is that most young people still want to buy, but can't, and as pinpointed by this recent BBC article this will continue to stifle the Uk property market.

NB- We have now purchased a ipad stylus so expect more self penned illustrations from us, it brightens the site up a bit.....

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First time buyer dilemma

New research from the Home Builders Federation shows that the average first time buyer would have to save every single penny of their earnings for more than two years to have a chance of getting a foot on the housing ladder. In London it would take three years.

Even over five years, young people have to save almost half of their take home pay every month to save a deposit for a house, with some areas even higher.

This sizable hurdle to buy will prolong the time tenants stay in the rental sector.

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Consumer code for offplan buyers

Are you a landlord buying an off plan property?

Well if so you will be protected by a new code of practice for those buyers reserving a property after April 1st this year. The code applies to off plan property covered by both NHBC & Local Authority certified properties.

To find out more about the code of practice have a look at the website.

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Inside track founder - retargets buy-to-let investors

Landlords who experienced the 'inside track' buy-to-let experience and their notorious buy-to-let club would no doubt give them a wide berth the 2nd time round.

Alarmingly the Inside Track founders are reportedly looking to target their original database of 25,000 property investors with a new campaign offering landlords the potential of building a portfolio of 5 buy-to-let properties from distressed residential developers in return for fees of £40,000.

The original company collapsed into administration but then the database was purchased by a new company IAP Global, set up by Inside Track founders Jim Moore and Tony McKay.

Does a leopard change it's spots? New buy-to-let investors beware....

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Buy-to-let Bovey fights back!

Celebrity buy-to-let entrepreneur Grant Bovey is suing a buy-to-let investor for £4.2m after a deal to sell 34 flats at a north London scheme fell through.

According to Property Week Bovey is refusing to repay the investors deposit and is counter claiming against the buy-to-let investor over a shortfall payment and losses sustained as a result of not being able to sell the 34 apartments that were originally sold.

The actions of Bovey and the investor high lights the on going problem where buy-to-let investors who bought off plan property in the boom are either unable to finance the deals or where prices have dropped to make purchase uneconomic.

For more on this story

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BTL investors face getting chased by developers following court case ruling.

A High Court test case in Bristol has been won by Prestige Homes South West, which won damages from a BTL property investor who pulled out of the purchase of two apartments at the Zero 4 development in Plymouth.

This test case could lead to many more investors facing bankruptcy as developers chase those who walked away from deals when they realised the properties had dropped in value by more than the deposit value they had placed with the contract with the developer.

With the test case awarding £133,282 to the developer it could lead to developers chasing a lot more investors who walked away from the contracted deals.

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Developer landlord - bags a brace at Highbury

Landlords who may have read my recent blog about investing in a bit of football heritage may be interested about the word on the street is that a big institutional buyer is buying 146 units at a 27% discount to their individual market price.

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London & Stamford has bought the block in the former North stand from Highbury Holdings for £41.4m equivalent to £400/sq ft. The market value of the units is thought to be nearer £550/sq ft.

At the purchase price the investment is thought to give a gross yield of about 7% - pretty good for central London.

The company founded by legendary property men Raymond Mould and Patrick Vaughan are known throughout the industry for picking up bargains and selling out at the top of the market.

I'm hoping this proves the case as I've got a small holding of London & Stamford AIM listed shares in my pension.

The purchase by London & Stamford adds weight to those that think residential prices may have bottomed and also indicates that for bulk purchases its still possible to negotiate big discounts.

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BMV property investor gets a nasty shock when he tries to sell his property

A property investor comes to the realisation that his BMV property might be more difficult to sell than he expected.

He can't quite believe that the nice agent ( con man) would of possibly sold him a duff investment.


View all the landlord comic strips

Off plan buy-to-let investors being forced to complete purchases

There are many landlords who were tempted buy the projected profits of buying off-plan property investments during the 'boom years'. Either as a way of making a quick buck by 'flipping' the property on following practical completion or as a discounted long term property investment to hold.

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The promise of a solid long-term profits and an instant capital gain drew in many investors including sports stars and those from the world of entertainment.

An example of this type of development is the £11m residential scheme in a development called Stella Nova in Bootle, Merseyside. Investors in the residential scheme are thought to include Joe Calzaghe along with four Premier League footballers.

Reports in Property Week indicate that some investors are looking to pull out from the purchase of the £100,000 properties on the basis that they can not raise the necessary buy-to-let mortgage or that the 'discounted' price they paid is less than the current open market value.

However, many buy-to-let investors who put down a deposit and thought they could just walk away from the development and loose only their deposit may have an unpleasant surprise according to latest reports in the Financial Times. Thousands of buy-to-let investors are facing the prospect of being persued by Developers determined to make these potential landlords complete their purchase.

Jeremy Raj, head of residential property at Wedlake Bell, the law firm comments:

"The buyers are legally obliged to complete on the transaction."

It looks like for many buy-to-let investors including Joe Calzaghe, there may be no
way of fighting their way out of this corner, however much they duck and weave.


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Property Dreams Collapse for North West Landlords

The glittering dream of property investment continues to tarnish for many of the hopeful 'dream catchers' who were blinded by the never ending upward surge of the property market.

Guaranteed rental income lured hundreds of wannabe property investors into new developments in the North West that have never been built.

One such dream provider, Dylan Harvey Residential Ltd (DHR), which is part of the Dylan Harvey Group, went into administration two weeks ago with debts of £100 million.

This has left 500 property investors without a property and without their cash deposits, of up to £20,000. Nightmare!

Many are uncertain as to whether they will be refunded any money after the collapse.

Dreams can come true, but often they don't..... Life hurts,.. I'm off for a snooze.

Read the full article in the Times

Buying off-plan development tips