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


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Don Coglione
15 minutes ago, Wight Flight said:

Ah. Shalford was where Phil Collins' local was. Not my gallery.

My gallery, to my knowledge, never had anyone famous visit.

Fuck me, you must be James Bond, then.

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  • Wight Flight

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Cornwall property is hot because it's a prime destination for all the boomers currently retiring on final salary pensions and cashing in their house price inflation on their shitty 2 up 2 down in the

Schools are the next thing to suffer. Lovely post on facebook this morning. 'Just bought a house in Ventnor. Is the local school good? Great reply - yes, very good. And full. We bought

Could it be we're seeing the minimum/lower wage workers priced out of renting in much of the UK as well as buying? BTLers renting out to holidayers via airb&b or ramping up the rent as demand

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Wight Flight
1 minute ago, Knickerless Turgid said:

Fuck me, you must be James Bond, then.

Nope. You lost me.

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sleepwello'nights
6 minutes ago, Wight Flight said:

Nope. You lost me.

Easy enough around Shalford. Lots of hills for walking :ph34r:

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Frank Hovis

More of the same.

Port Isaac bungalow sells in just five minutes as Cornwall housing madness continues

A buyer also offered £4.5m for a Polzeath home they hadn't seen

 

https://www.cornwalllive.com/news/cornwall-news/port-isaac-bungalow-sells-just-5372836

 

At least the local paper is now referring to it as what it realy is: madness.

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5 minutes ago, Frank Hovis said:

More of the same.

Port Isaac bungalow sells in just five minutes as Cornwall housing madness continues

A buyer also offered £4.5m for a Polzeath home they hadn't seen

 

https://www.cornwalllive.com/news/cornwall-news/port-isaac-bungalow-sells-just-5372836

 

At least the local paper is now referring to it as what it realy is: madness.

Wow!

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sleepwello'nights

I know its been pointed out before but does no one ever check before printing?

 in Cornwall are said to have increased in price year-on-year by 11%, with the average property prices rising from £302,880 to £318,852.

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Frank Hovis
5 minutes ago, sleepwello'nights said:

I know its been pointed out before but does no one ever check before printing?

 in Cornwall are said to have increased in price year-on-year by 11%, with the average property prices rising from £302,880 to £318,852.

If that's the six month movement then 11% is correct on an annualised basis.  I know it doesn't say that but I am interpreting it.

Also "Trainee Reporter" so probably on apprenticeship and not even minimum wage.

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If this happens in Northern Ireland, it could get very tricky to rent privately.

https://thenegotiator.co.uk/northern-ireland-private-sector-leasing-letting-agents-propertymark/

Proposal will offer landlords guaranteed rent in return for tenancies of 3-5 five years but could suck 50% of stock out of market at lower end.

A private rental market scheme being proposed in Northern Ireland by its government could see some letting agents there lose up to half their stock, it has been claimed.

ARLA Propertymark says the introduction of a Private Sector Leasing (PSL) scheme as revealed by the Northern Ireland Executive at Stormont would be ‘bad news’ for both letting agents and landlords.

The PSL will be a national rent-to-rent style scheme offering landlords a long-term lease on properties and enabling tenants to sign up for tenancies of between three and five years.

In return landlords would be offered in return for a lower but guaranteed rental income similar in many ways to the rent-to-rent model offered by many agents all over the UK.

ARLA Propertymark is worried that the scheme, if it became popular, would hoover up market share in the lower end of the market and could ‘steal’ up to 50% of this kind of stock from full-management lettings agents.

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spygirl
34 minutes ago, TMM said:

If this happens in Northern Ireland, it could get very tricky to rent privately.

https://thenegotiator.co.uk/northern-ireland-private-sector-leasing-letting-agents-propertymark/

Proposal will offer landlords guaranteed rent in return for tenancies of 3-5 five years but could suck 50% of stock out of market at lower end.

A private rental market scheme being proposed in Northern Ireland by its government could see some letting agents there lose up to half their stock, it has been claimed.

ARLA Propertymark says the introduction of a Private Sector Leasing (PSL) scheme as revealed by the Northern Ireland Executive at Stormont would be ‘bad news’ for both letting agents and landlords.

The PSL will be a national rent-to-rent style scheme offering landlords a long-term lease on properties and enabling tenants to sign up for tenancies of between three and five years.

In return landlords would be offered in return for a lower but guaranteed rental income similar in many ways to the rent-to-rent model offered by many agents all over the UK.

ARLA Propertymark is worried that the scheme, if it became popular, would hoover up market share in the lower end of the market and could ‘steal’ up to 50% of this kind of stock from full-management lettings agents.

Thee have been around for ages.

They only work for LL with little to no leverage/debt.

IO BTL of 2002 onwards tend to have leveraged right up the limits, so cannot afford to take the reduced rent offered by LAs.

Some mortgage TnCs also forbid these long contracts - the bank wants to be able to repo the building within a short perios. Having a ~5 year contract is a problem.

And, last but not least, LHA tend to change.

 

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Wight Flight
On 28/04/2021 at 13:47, Frank Hovis said:

Updating this a few days on:

Total rentals in all of Cornwall: 125 -> 112

Of which three bed or more: 63 -> 53

Of which £1,000 per month or less: 19 -> 13

My update:

Total rentals available - 29  - now 19

Three bed or more - 9 - now 3

Of which under £1k - 5 - now 3

New category - 2 beds or more. Just 9.

 

Edited by Wight Flight
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Don Coglione

I mentioned previously (fuck knows where!) that our hideous previous rental property had been re-listed at £1400 per month, up from the £1250 we had been paying for the last year.

An all-but identical house has now been put up at £1600 per month.

This in central, rural Wiltshire.

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