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


Frank Hovis
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With a crooked smile
1 hour ago, One percent said:

In my home town, over 70 percent of new build is sold as second homes

Interesting I've always thought new builds represented poor value for money. But I guess like some flats cost as much as a nice Victorian terrace down the road it's horses for courses. 

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Don Coglione
1 hour ago, With a crooked smile said:

Interesting to see a ban on second home owners buying new builds. My brother lives in Oz he's only allowed as an immigrant to buy a new build and can't by an existing house. They see it as a way of boosting the construction trade. 

A great way to support the corrupt market and funnel cash to the bent state government politicians, whilst appeasing their Chinese overlords.

Australia is proper fucked.

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With a crooked smile
Just now, Don Coglione said:

Australia is proper fucked.

Hmm some think western Europe is on the demise and the east including Australia with its wealth of natural resources is on the rise. 

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Don Coglione
1 minute ago, With a crooked smile said:

Hmm some think western Europe is on the demise and the east including Australia with its wealth of natural resources is on the rise. 

Paul Keating was wise to recognise the rise of the East (ie China), but the subsequent implementation of policy in favour of corrupt, short-term, interests has ensured the demise of Australia.

It could have been so different.

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One percent
33 minutes ago, With a crooked smile said:

Interesting I've always thought new builds represented poor value for money. But I guess like some flats cost as much as a nice Victorian terrace down the road it's horses for courses. 

I guess that because they are new it means (in theory) no maintenance. Taking on a relatively old building that needs constant looking after isn’t easy from a distance. Although I’m not sure that these people are switched on enough to have gone through that mental process. 

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Frank Hovis
44 minutes ago, Bilbo said:

 

The Guardian sorry!

 

https://www.theguardian.com/society/2021/jun/06/homeless-lose-beds-as-g7-takes-over-cornwall-hotels-says-charity

Poor homeless having to move out of their hotels and be put elsewhere!

It's not though all "homeless" with everything that conjures up but lots of people who without the Lockdown lunacy would have been renting their homes as normal.

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Wight Flight
15 minutes ago, Frank Hovis said:

It's not though all "homeless" with everything that conjures up but lots of people who without the Lockdown lunacy would have been renting their homes as normal.

How is it going in your neck of the woods?

We currently have 13 properties available in total.

My fear now is that rental prices have risen so much that landlords will start evicting tenants to get a higher paying one in.

That will cause a whole new breed of homelessness.

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Don Coglione
2 hours ago, Bilbo said:

 

The Guardian sorry!

 

https://www.theguardian.com/society/2021/jun/06/homeless-lose-beds-as-g7-takes-over-cornwall-hotels-says-charity

Poor homeless having to move out of their hotels and be put elsewhere!

A friend is working behind the scenes at the G7. There are so many delegates that they have taken all the hotel rooms, meaning the support staff are staying in AirBnBs, at 3 grand a week for a 3 bedroom place.

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Wight Flight
15 minutes ago, Don Coglione said:

A friend is working behind the scenes at the G7. There are so many delegates that they have taken all the hotel rooms, meaning the support staff are staying in AirBnBs, at 3 grand a week for a 3 bedroom place.

I understood they had chartered a huge cruise ship for a lot of the staff?

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Don Coglione
1 minute ago, Wight Flight said:

I understood they had chartered a huge cruise ship for a lot of the staff?

Quite possibly, but said friend is staying in a ritzy seaside place.

I was surprised at the sheer size of the event - why does it need so many attendees?

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Wight Flight
4 minutes ago, Don Coglione said:

Quite possibly, but said friend is staying in a ritzy seaside place.

I was surprised at the sheer size of the event - why does it need so many attendees?

They don't have t'internet down there yet so couldn't zoom in.

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Frank Hovis
1 hour ago, Wight Flight said:

How is it going in your neck of the woods?

We currently have 13 properties available in total.

My fear now is that rental prices have risen so much that landlords will start evicting tenants to get a higher paying one in.

That will cause a whole new breed of homelessness.

 

It's simply getting worse as the temporary accommodation is now coming into being already booked up.

People have already been relocated to Plymouth and I see more of the same will happen; whether to their or the desolate places like Princeton and Oakehampton.  Maybe even to Exeter.

These people are then housed but have lost their jobs and the kids their schools.

I do wonder whether there will be a backlash as with the holiday cottages being burned down in Wales in the 1980s; I'd be angry in their situation.  Cornish nationalism is not a patch on Welsh nationalism in terms of support but it does exist as a movement and going way back to the 80s even had a "provisonal wing" in An Gof which carried out a firebombing.

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Wight Flight
3 minutes ago, Frank Hovis said:

 

It's simply getting worse as the temporary accommodation is now coming into being already booked up.

People have already been relocated to Plymouth and I see more of the same will happen; whether to their or the desolate places like Princeton and Oakehampton.  Maybe even to Exeter.

These people are then housed but have lost their jobs and the kids their schools.

I do wonder whether there will be a backlash as with the holiday cottages being burned down in Wales in the 1980s; I'd be angry in their situation.  Cornish nationalism is not a patch on Welsh nationalism in terms of support but it does exist as a movement and going way back to the 80s even had a "provisonal wing" in An Gof which carried out a firebombing.

Are the rental asking prices going stratospheric?

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Chewing Grass
1 hour ago, Don Coglione said:

A friend is working behind the scenes at the G7. There are so many delegates that they have taken all the hotel rooms, meaning the support staff are staying in AirBnBs, at 3 grand a week for a 3 bedroom place.

 

46 minutes ago, Wight Flight said:

I understood they had chartered a huge cruise ship for a lot of the staff?

My lad is doing security, 10 hour shifts, doesn't know where the accommodation is, they find out when they get there!!!

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Frank Hovis
2 minutes ago, Wight Flight said:

Are the rental asking prices going stratospheric?

I haven't been tracking individual rentals but my search band price limit of £1k for a three bed house would have rented you a nice house in a seaside town two years ago with reasonable houses in the same towns going for £700.

Now pretty much every three bed, even in the grottiest parts of inland towns, is over a thousand a month.

That's what I call inflation - 40%+ in two years.

And most local people on the local low wages simply cannot afford a thousand a month rent.  So where does that leave them?

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Wight Flight
2 minutes ago, Frank Hovis said:

I haven't been tracking individual rentals but my search band price limit of £1k for a three bed house would have rented you a nice house in a seaside town two years ago with reasonable houses in the same towns going for £700.

Now pretty much every three bed, even in the grottiest parts of inland towns, is over a thousand a month.

That's what I call inflation - 40%+ in two years.

And most local people on the local low wages simply cannot afford a thousand a month rent.  So where does that leave them?

Homeless.

The usual rule is that your salary must be 30 times the rent, so in theory even a couple on minimum wage could just about afford it.

The problem I foresee is that an average three bed here can command £1300+. They were £700 two years ago.

Our main agent has a built in inflation increase every year, so if a landlord has had a tenant for two years, they are now underachieving by £7k per year. The only way they can get to trouser that is by evicting the current tenant.

I worry that many will.

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Frank Hovis
13 minutes ago, Wight Flight said:

I worry that many will.

I think so.

What has happened in Cornwall is that the traditional landlord / landlady is now usually retired from work and many are cashing in their properties because of the recent mentalness.  I would guess that my house has gone up in value 20% in the last year; which I don't see as good news because it prices out locals and when my older neighbours sell I can see them going to holiday lets.  And at that point then I am moving out as well.

These sales are going from the local rented market for good IMO.

More recent and so indebted BTLers are going to be happy to raise the rent because the tenant is their cash cow.

And others will simply go to holiday rental because it pays so much more; somebody was on the radio having paid £8k for two weeks in a caravan in St Ives this summer.  I'd have thought taht you could buy the bloody thing for that amount.

Rentals converting to holiday lets are not a minor issue as this story, and more clearly the maps, show:

Big circles whole house for holiday let, small circle just the room.  These are the two worst towns for it:

Newquay

1_LL_DCM040621-AirDNA-Cornwall_06JPG.jpg

Falmouth

0_LL_DCM040621-AirDNA-Cornwall_03JPG.jpg

 

Not a lot left for a local to rent in either town.

https://www.cornwalllive.com/news/cornwall-news/maps-show-extent-airbnb-vrbo-5491865

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With a crooked smile
1 hour ago, Frank Hovis said:

I would guess that my house has gone up in value 20% in the last year; which I don't see as good news because it prices out locals and when my older neighbours sell I can see them going to holiday lets.  And at that point then I am moving out as well.

There are parts of The Lake District National Park that I wouldn't live in even if I could afford too. 

Small hamlet type villages of maybe 10 or so properties but no one living there full time. I've said to the other half I'm only prepared to live as somewhere that has some community to it rather than a completely desolated village. 

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Frank Hovis
25 minutes ago, With a crooked smile said:

There are parts of The Lake District National Park that I wouldn't live in even if I could afford too. 

Small hamlet type villages of maybe 10 or so properties but no one living there full time. I've said to the other half I'm only prepared to live as somewhere that has some community to it rather than a completely desolated village. 

 

I also think that such places are highly vulnerable to break-ins; where there are no neighbours there is nobody to hear a window break or alarm ring.

I've seen small pretty south coast villages already go like this.  St Ives, Padstow and Rock are heading that way despite their larger size for certain areas within the towns which are near-exclusively holiday lets.

And if it's tne houses with only one occupied - by you - you become the de facto unpaid special constable / caretaker reporting in incidents, dealing with the police when they arrive, securing the property, contacting the owner etc.

Hear a noise in the night?  Well it's you that's investgating.

Like I said if either of my neighbouring houses goes holiday let then mine is going on the market the next day because I refuse to live next to one.

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Guernsey's housing 'crisis' forcing people to leave the island

https://www.bbc.co.uk/news/world-europe-guernsey-57280698

 

 

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stokiescum
7 hours ago, Wight Flight said:

How is it going in your neck of the woods?

We currently have 13 properties available in total.

My fear now is that rental prices have risen so much that landlords will start evicting tenants to get a higher paying one in.

That will cause a whole new breed of homelessness.

Let them

eat cake or move to stoke

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sleepwello'nights
5 hours ago, Frank Hovis said:

 

And most local people on the local low wages simply cannot afford a thousand a month rent.  So where does that leave them?

Have you got an old caravan to sell?

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With a crooked smile
15 minutes ago, sleepwello'nights said:

Have you got an old caravan to sell?

Price of a luxury caravan. I imagine the areas pretty rough but there is work about locally to it at Workington, Whitehaven and Sellafield. It still amazes me how cheap some stuff is up here. 5k down only requires a low income to secure mortgage. https://www.rightmove.co.uk/property/80191467

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Wight Flight
20 minutes ago, sleepwello'nights said:

Have you got an old caravan to sell?

A caravan here is now up for £700 per month.

Same as a 3 bed house two years ago.

 

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