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Rental nightmare in coastal Cornwall (and coastal Devon, IoW)


Frank Hovis
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Frank Hovis

I've heard a few things anecdotally, and posted them in the property thread, but this is major and deserves its own thread.

Coastal parts of Cornwall, Devon, and the Isle of Wight @Wight Flight are suffering from a perfect storm regarding the rental market.

This is a combination of several factors, all ultimately deriving from Covid lockdown.

  • No evictions
  • Soaring (the Express had to be right one time!) house prices as people look to relocate from the south east and big cities meaning that landlords are selling their houses rather than renting them out - tenants are being given notice
  • And soaring demand for the same reason where people are looking to relocate and rent

 

To top it all I heard on the radio that Newquay (population 30k+) had one single property available to rent on Rightmove.  I couldn't quite believe this so checked.

There are currently actually three; and only one would be enough for a family.  Maybe it was a family looking hence their saying just the one.  Which is unprecedented.

 

image.thumb.png.af8a9e6626edbf78bdeb733cab040a98.png

 

It isn't however a housing "crisis" because there are still plenty of cheap rentals in inland Cornwall such as in Camborne, link below, but if you wish to find a rental in a coastal town - because of family, friends, work, school - you can forget it. 

Here's a cheap three bed link detached.  Not the best area but it's still a house.

 

image.thumb.png.f9f8cff075073498e097f5490eef4e86.png

https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION^273&propertyTypes=&includeLetAgreed=false&mustHave=&dontShow=&furnishTypes=&keywords=

 

There has been plenty of this in the local press - rentals being snapped up the same day with typicaly ninety enquiries for each - but I haven't seen it covered nationally.

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Wight Flight
4 minutes ago, Frank Hovis said:

I've heard a few things anecdotally, and posted them in the property thread, but this is major and deserves its own thread.

Coastal parts of Cornwall, Devon, and the Isle of Wight @Wight Flight are suffering from a perfect storm regarding the rental market.

This is a combination of several factors, all ultimately deriving from Covid lockdown.

  • No evictions
  • Soaring (the Express had to be right one time!) house prices as people look to relocate from the south east and big cities meaning that landlords are selling their houses rather than renting them out - tenants are being given notice
  • And soaring demand for the same reason where people are looking to relocate and rent

 

To top it all I heard on the radio that Newquay (population 30k+) had one single property available to rent on Rightmove.  I couldn't quite believe this so checked.

There are currently actually three; and only one would be enough for a family.  Maybe it was a family looking hence their saying just the one.  Which is unprecedented.

 

image.thumb.png.af8a9e6626edbf78bdeb733cab040a98.png

 

It isn't however a housing "crisis" because there are still plenty of cheap rentals in inland Cornwall such as in Camborne, link below, but if you wish to find a rental in a coastal town - because of family, friends, work, school - you can forget it. 

Here's a cheap three bed link detached.  Not the best area but it's still a house.

 

image.thumb.png.f9f8cff075073498e097f5490eef4e86.png

https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION^273&propertyTypes=&includeLetAgreed=false&mustHave=&dontShow=&furnishTypes=&keywords=

 

There has been plenty of this in the local press - rentals being snapped up the same day with typicaly ninety enquiries for each - but I haven't seen it covered nationally.

When I checked yesterday we had 4 3+ bed houses available. Population 140,000.

Moving inland isn't an option here, so the only alternative is to move overseas or cram your family in to a 2 bed flat.

There are some seriously desperate cases cropping up on facebook. Probably us soon!

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Frank Hovis
25 minutes ago, Wight Flight said:

When I checked yesterday we had 4 3+ bed houses available. Population 140,000.

Moving inland isn't an option here, so the only alternative is to move overseas or cram your family in to a 2 bed flat.

There are some seriously desperate cases cropping up on facebook. Probably us soon!

 

I've probably said before that if you draw a line 1 mile inland from Cornwall's coast that 90% of people in the one mile coastal strip will have been born outside of Cornwall and 90% of people in the rest of the county will have been born within Cornwall.

It's always however been a gradual process - family moves down and lives by the sea, children grow up and move inland because they can't afford anywhere local -  but this is suddenly accelerating it.

Yes, Cornwall does have the benefit of having lots of down at heel inland towns and villages where you can live and commute to work so you don't have to leave altogether unlike the IoW.

This is IMO going to start slowly unwinding once the lockdowns stop and people are ordered back into their offices to work but it will be a very slow unwind when you currently have ninety plus people chasing each rental.

Maybe you will have to bite the bullet and buy even if it does mean paying loads of tax.

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Wight Flight
41 minutes ago, Frank Hovis said:

Maybe you will have to bite the bullet and buy even if it does mean paying loads of tax.

At the moment I wouldn't get a mortgage for the sort of place I like to live in.

Things might change when the lad graduates.

 

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Frank Hovis
5 minutes ago, Wight Flight said:

At the moment I wouldn't get a mortgage for the sort of place I like to live in.

Things might change when the lad graduates.

 

osborne-house-martin-newman.jpg

?

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Wight Flight
6 minutes ago, Frank Hovis said:

osborne-house-martin-newman.jpg

?

No. Just somewhere very similar (if not identical) to the place I am renting now.

Problem is that it is probably about £460k, so even if I rustled up £100k deposit I will need to have an unencumbered income of £100k per year, and assuming I could get a 20 year mortgage I would still be paying £2k per month.

Renting at £1,100 seems much easier for now.

 

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Frank Hovis
2 minutes ago, Wight Flight said:

No. Just somewhere very similar (if not identical) to the place I am renting now.

Problem is that it is probably about £460k, so even if I rustled up £100k deposit I will need to have an unencumbered income of £100k per year, and assuming I could get a 20 year mortgage I would still be paying £2k per month.

Renting at £1,100 seems much easier for now.

 

 

As I've mentioned before if we had the sort of renters' rights as they do in Germany meaning that I could be confident of living somewhere for twenty years or however long I wished then I would be renting.  The big downsides of ownership are maintenance and it being difficult to move compared to when renting where you just give notice and book a removals' van.

I thought insecurity was the only downside but now, in an unexpected side effect of Covid lockdown, it turns out to be homelessness if you're renting in a pleasant area.

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Wight Flight
3 minutes ago, Frank Hovis said:

 

As I've mentioned before if we had the sort of renters' rights as they do in Germany meaning that I could be confident of living somewhere for twenty years or however long I wished then I would be renting.  The big downsides of ownership are maintenance and it being difficult to move compared to when renting where you just give notice and book a removals' van.

I thought insecurity was the only downside but now, in an unexpected side effect of Covid lockdown, it turns out to be homelessness if you're renting in a pleasant area.

I am hoping the current situation is a temporary madness.

The thing that annoys me is that a house can be advertised as 'long term' To me that means 5+ years, to the owner it means 6 months.

I was lucky in my previous place to agree a 4 year, 364 day lease. I doubt it was actually legal, but it kept Mrs Flight happy.

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Green Devil
4 hours ago, Frank Hovis said:

 

As I've mentioned before if we had the sort of renters' rights as they do in Germany meaning that I could be confident of living somewhere for twenty years or however long I wished then I would be renting.  The big downsides of ownership are maintenance and it being difficult to move compared to when renting where you just give notice and book a removals' van.

I thought insecurity was the only downside but now, in an unexpected side effect of Covid lockdown, it turns out to be homelessness if you're renting in a pleasant area.

That is the biggest hassle of renting. Maintenance. Because your scummy landlord never does any, and expects you to live in a shithole, then when you move out becuase youve had enough of the damp, dry rot, shitty bathroom and kitchen, he then renovates the place, and charges you for the priviledge out of your deposit. LANDLORDS ARE CUNTS and buying despite the costs and commitment is a much better option IMO. 

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Noallegiance
47 minutes ago, Green Devil said:

That is the biggest hassle of renting. Maintenance. Because your scummy landlord never does any, and expects you to live in a shithole, then when you move out becuase youve had enough of the damp, dry rot, shitty bathroom and kitchen, he then renovates the place, and charges you for the priviledge out of your deposit. LANDLORDS ARE CUNTS and buying despite the costs and commitment is a much better option IMO. 

I've had three different private landlords. All outstanding. New cooker within days when the 2 year old one gave out a week before Xmas. One came round to help us settle in to their former family home. One came round religiously to assist us for anything at all.

We've purposely never rented a flat or a new build. Established family homes only.

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spygirl

The root causes predate covid.

One, when the io btl fucktards twigged s24, a lot poured into FHL.

Two, a lot of under 45s esp London are renting. One months notice and they can move.

Soon as lockdown went iver 3 months, loads quit for nicer areas.

And FHL were empty/ deal for a short term tenant.

It's going yo cause tax problems as FHL have an upper 30 limit.

 

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Green Devil
1 hour ago, Noallegiance said:

I've had three different private landlords. All outstanding. New cooker within days when the 2 year old one gave out a week before Xmas. One came round to help us settle in to their former family home. One came round religiously to assist us for anything at all.

We've purposely never rented a flat or a new build. Established family homes only.

Great. Thats not my experience. Our landlord was a cunt of the highest order. Withheld our whole deposit (2k) , for 6months without receipts for "refurbishment" , until deposit  protection gave us it all back. 

Edited by Green Devil
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Wight Flight
1 minute ago, Green Devil said:

Great. Thats not my experience. Our landlord was a cunt of the highest order. Withheld our whole deposit, for 6months without receipts for "refurbishnent" , until deposit protection gave us it all back. 

I think the problem is that a lot of landlords are skint.

If only we could credit check them.

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Green Devil
1 minute ago, Wight Flight said:

I think the problem is that a lot of landlords are skint.

If only we could credit check them.

He should of spent some of the 1500 a month i was payimg the cunt on fixing the rotten floorboards, leaking guttering, painting, shoddy heating syatem, kitchen, bathroom (where do i stop), instead of buying his fancy new electric hybrid car. People like him made me puke. 

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Wight Flight
1 minute ago, Green Devil said:

He should of spent some of the 1500 a month i was payimg the cunt on fixing the rotten floorboards, leaking guttering, painting, shoddy heating syatem, kitchen, bathroom (where do i stop), instead of buying his fancy new electric hybrid car. People like him made me puke. 

I guess you haven't followed my thread on my previous landlord who was having numerous holidays on my rent, and couldn't even afford a b&b the second I stopped paying.

For supposed long term investors they tend to have very short term views.

At least when you are dealing with the average landlord you can safely know you are the smartest guy in the room.

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Wight Flight
12 minutes ago, Green Devil said:

Great. Thats not my experience. Our landlord was a cunt of the highest order. Withheld our whole deposit (2k) , for 6months without receipts for "refurbishment" , until deposit  protection gave us it all back. 

 

6 minutes ago, Green Devil said:

He should of spent some of the 1500 a month i was payimg the cunt on fixing the rotten floorboards, leaking guttering, painting, shoddy heating syatem, kitchen, bathroom (where do i stop), instead of buying his fancy new electric hybrid car. People like him made me puke. 

Why didn't you just move?

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Green Devil
Just now, Wight Flight said:

 

Why didn't you just move?

I did. The place was falling apart. Thats why we left. Then he tried to charge us to refurbish it.  Standard landlord behaviour.

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Wight Flight
1 hour ago, Green Devil said:

I did. The place was falling apart. Thats why we left. Then he tried to charge us to refurbish it.  Standard landlord behaviour.

Don't pay the last month's rent. It is what scum landlords expect.

Edited by Wight Flight
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Castlevania
13 hours ago, spygirl said:

The root causes predate covid.

One, when the io btl fucktards twigged s24, a lot poured into FHL.

Two, a lot of under 45s esp London are renting. One months notice and they can move.

Soon as lockdown went iver 3 months, loads quit for nicer areas.

And FHL were empty/ deal for a short term tenant.

It's going yo cause tax problems as FHL have an upper 30 limit.

 

FHL?

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Onsamui
21 hours ago, Frank Hovis said:

I've heard a few things anecdotally, and posted them in the property thread, but this is major and deserves its own thread.

Coastal parts of Cornwall, Devon, and the Isle of Wight @Wight Flight are suffering from a perfect storm regarding the rental market.

This is a combination of several factors, all ultimately deriving from Covid lockdown.

  • No evictions
  • Soaring (the Express had to be right one time!) house prices as people look to relocate from the south east and big cities meaning that landlords are selling their houses rather than renting them out - tenants are being given notice
  • And soaring demand for the same reason where people are looking to relocate and rent

 

To top it all I heard on the radio that Newquay (population 30k+) had one single property available to rent on Rightmove.  I couldn't quite believe this so checked.

There are currently actually three; and only one would be enough for a family.  Maybe it was a family looking hence their saying just the one.  Which is unprecedented.

 

image.thumb.png.af8a9e6626edbf78bdeb733cab040a98.png

 

It isn't however a housing "crisis" because there are still plenty of cheap rentals in inland Cornwall such as in Camborne, link below, but if you wish to find a rental in a coastal town - because of family, friends, work, school - you can forget it. 

Here's a cheap three bed link detached.  Not the best area but it's still a house.

 

image.thumb.png.f9f8cff075073498e097f5490eef4e86.png

https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION^273&propertyTypes=&includeLetAgreed=false&mustHave=&dontShow=&furnishTypes=&keywords=

 

There has been plenty of this in the local press - rentals being snapped up the same day with typicaly ninety enquiries for each - but I haven't seen it covered nationally.

We arecurrently selling my parent's house in Feock, only 6 places left for sale in the area.  It is a probate sale and have not had probate back after 8 months!! This is seriously affecting our ability to sell as the viewers want to move before end of June. No chance, solicitors are taking 4 months to forefill to completion.  My husband and I went over to Newquay last week to view coastal, very expensive flats which are climbing in price daily, unbelievable.  Our previous business in Porth of holiday homes, sold in 2007 and now bulldozed down and housing going on there, due to their brilliant views, the houses are selling for more than we sold the whole site for.  Not sure for how long this can go on for, but we have walked away, Quality of the flats for sale are quite shabby.  We saw a place in Golant, a knock down and rebuild, no more viewings after 3 days on market as they have 60 so far.  I can't see us making any progress until furlough/stamp duty ends.  Saving grace for us though is my parent's house which needs revamping may well achieve a better price whilst we wait for Probate.

Edited by Onsamui
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Frank Hovis
17 minutes ago, Onsamui said:

We arecurrently selling my parent's house in Feock, only 6 places left for sale in the area.  It is a probate sale and have not had probate back after 8 months!! This is seriously affecting our ability to sell as the viewers want to move before end of June. No chance, solicitors are taking 4 months to forefill to completion.  My husband and I went over to Newquay last week to view coastal, very expensive flats which are climbing in price daily, unbelievable.  Our previous business in Porth of holiday homes, sold in 2007 and now bulldozed down and housing going on there, due to their brilliant views, the houses are selling for more than we sold the whole site for.  Not sure for how long this can go on for, but we have walked away, Quality of the flats for sale are quite shabby.  We saw a place in Golant, a knock down and rebuild, no more viewings after 3 days on market as they have 60 so far.  I can't see us making any progress until furlough/stamp duty ends.  Saving grace for us though is my parent's house which needs revamping may well achieve a better price whilst we wait for Probate.

I would note that flats with a sea view are currently on for ludicrous prices in all the coastal towns.  Also nobody in their right mind would buy one to live in as they will find themselves surrounded by parties into the small hours during the summer because most of them will be holiday lets / Air BnBs.

I've posted before about walking past a new build block back from the cliff path near to Carlyon Bay and it looking like a prison yet teh flats were on for mental prices.

Taking Carlyon Bay:

Four bed detached bungalow £410k.

image.thumb.png.3f8adf2533750d678cd5d40854ca8ca0.png

Freehold, no service charges, no management company, no party walls and partying neighbours.

 

Two bed ground floor flat £650k.

image.thumb.png.1083f47cdae7e5d4653aa51ded225167.png

Leasehold, service charges, party walls and partying neighbours.

https://www.rightmove.co.uk/property-for-sale/Carlyon-Bay.html

Flats are now being treated simply as commercial properties to let out and priced based upon that.

If you were buying somewhere in which to live then it's going to be the detached four bed freehold house for £240k less than the two bed ground floor flat.  And ground floor - people walking past can see into your bedroom unless you keep the curtains closed all day.

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10 minutes ago, Frank Hovis said:

I would note that flats with a sea view are currently on for ludicrous prices in all the coastal towns.  Also nobody in their right mind would buy one to live in as they will find themselves surrounded by parties into the small hours during the summer because most of them will be holiday lets / Air BnBs.

I've posted before about walking past a new build block back from the cliff path near to Carlyon Bay and it looking like a prison yet teh flats were on for mental prices.

Taking Carlyon Bay:

Four bed detached bungalow £410k.

image.thumb.png.3f8adf2533750d678cd5d40854ca8ca0.png

Freehold, no service charges, no management company, no party walls and partying neighbours.

 

Two bed ground floor flat £650k.

image.thumb.png.1083f47cdae7e5d4653aa51ded225167.png

Leasehold, service charges, party walls and partying neighbours.

https://www.rightmove.co.uk/property-for-sale/Carlyon-Bay.html

Flats are now being treated simply as commercial properties to let out and priced based upon that.

If you were buying somewhere in which to live then it's going to be the detached four bed freehold house for £240k less than the two bed ground floor flat.  And ground floor - people walking past can see into your bedroom unless you keep the curtains closed all day.

I still can't get my head around this one (yeah ,I know it's Littlehampton ...)

Top floor 3 Bed Penthouse with two external balconies. Roger Moore even rented it while he was filming The Saint (apparently). £500K

https://www.rightmove.co.uk/properties/97364714#/

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Frank Hovis
5 minutes ago, CVG said:

I still can't get my head around this one (yeah ,I know it's Littlehampton ...)

Top floor 3 Bed Penthouse with two external balconies. Roger Moore even rented it while he was filming The Saint (apparently). £500K

https://www.rightmove.co.uk/properties/97364714#/

I don't know the area but it does look very nice and whilst it has a £4k annual charge I regularly see £6k annual charge for static caravans on sites.

That looks cheap for what it is and very cheap compared to the two bed flats going for £600k plus in Cornwall.

People seem to forget how much it rains in Cornwall compared to the south centre and south east; if I just wanted to live by the sea then I would pick that one above any of the flats on offer in Cornwall.

The lease is long and therefore cheap to extend so no problem there.

Either it is genuinely great value or perhaps (sheer guess) the block has structural problems as they will cost a load to put right.

 

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Wight Flight
27 minutes ago, Frank Hovis said:

I don't know the area but it does look very nice and whilst it has a £4k annual charge I regularly see £6k annual charge for static caravans on sites.

That looks cheap for what it is and very cheap compared to the two bed flats going for £600k plus in Cornwall.

People seem to forget how much it rains in Cornwall compared to the south centre and south east; if I just wanted to live by the sea then I would pick that one above any of the flats on offer in Cornwall.

The lease is long and therefore cheap to extend so no problem there.

Either it is genuinely great value or perhaps (sheer guess) the block has structural problems as they will cost a load to put right.

 

Anyone that buys one of these is going to regret it.

I doubt any local would touch them.

https://www.breakwaters.co.uk

Top floor 2 bed from £425k

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