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Thursday, September 08, 2016

6 BTL properties for under £40k

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Landlord fires shotgun to frighten tenants


A Norfolk landlord, who fired his 12 bore shotgun into the air to scare his tenants from a mobile home he was renting to them has been handed an eight month prison sentence at Norwich Crown Court.

Landlord Marcus Strong, 64, shot his gun into the air as he walked towards the tenants before announcing they had five minutes to vacate the mobile home.

Mr Strong was described as having 'lost control'.

The tenants, an elderly couple, managed to ring for police before Strong grabbed the phone and broke it in half.

The mobile home was sited in the grounds of Mr Strong's home at Gunthorpe Lane, Briningham, Melton Constable.

Strong’s firearms licence has since been revoked .

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Halifax HPI for August reflects slowdown

The Halifax House Price Index for August 2016 reflects the market slowdown.





Halifax housing economist, Martin Ellis says:

"House prices in the three months to August were 0.7% higher than in the previous quarter; down from 1.5% in July. The annual rate of growth fell from 8.4% in July to 6.9%.

House price growth continued the trend of the past few months in August with a further moderation in both the annual and quarterly rates of increase. There are also signs of a softening in sales activity.

The slowdown in the rate of house price growth is consistent with the forecast that we made at the end of 2015. Increasing difficulties in purchasing a home as house prices continued to increase more quickly than earnings were expected to constrain demand, curbing house price growth.”
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Falling prime London rents

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Surveyors feeling a bit more confident

Surveyors are feeling a bit more confident about the post-Brexit property market.

RICS UK Residential Market Survey  for August 2016 reports after an initial slump in market activity after the referendum bomb shell, surveyors are feeling more positive with their three and 12 month outlook.

12% of surveyors reported seeing price increases up from the low of just 5% in July. However this upswing in confidence does follow the five month run in falls, and is still way down on the high, recorded 18 months ago, when surveyor confidence hit 50%. 

 RICS chief economist,Simon Rubinsohn comments: 

“There are clear signs that the housing market is settling down after the initial surprise of the outcome to the EU referendum.”

August's sales volumes also showed signs of stabilising with the RICS agreed sales indicator improving to zero from -32%. 

RICS believe the key factor for future rising prices is the continued shortage of stock for sale, with surveyors reporting August seeing a further decline of supply.

Stock on estate agents books fell again, to close to the record low seen in December 2015.


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BofE could cut rates further this year

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