Why Landlords Are Leaving London
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- Äas pĆidĂĄn 22. 07. 2024
- Thousands of landlords have left London to buy rental properties elsewhere.
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And in 2024 house prices in the capital have fallen by nearly 5%, making them the worst performing in England. So what is going on? Why are landlords leaving the capital and what does this mean for the rental market?
Well, since we started in property we have seen 4 major changes that have affected landlords in London. So in this video we are going to explain what those 4 changes are and why theyâve resulted in landlords leaving the capital. Plus we will explain what impact this is having on landlords, renters and investors across the country.
So the main questions we are looking at is: Should you still invest in London? Is London a good invesment? and what should landlords in London do? Also, is the London Property Market strong in 2024?
Let's find out.
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I think house crash is already happening and Landlords leaving is because all those people who bought homes over asking price, although it was at a low interest rate, they are over their heads. They have no equity if the housing prices continue to go down, and if for whatever reason they cannot afford the house anymore and it goes into foreclosure because even if they try to sell, they will not make any money. I think this will happen to a lot of people especially with the massive layoff predicted for now/future and the cost of living rising at a high speed.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if youâre careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isnât king at all in this time!
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@@hasede-lg9hj Do you mind sharing info on the adviser who assisted you?
The advisor that guides me is Annette Marie Holt, most likely the internet is where to find her basic info, just search her name. She's established.
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Thank god for it. I've been renting in my flat for the past 6 years and my landlord told me she's selling 3 months ago. I'm buying the flat from her.
That's one less property for someone to rent.
@@SB-dg8hq also one less family looking for a flat, so what is your point?
â@@SB-dg8hqLet me guess, clueless socialist?
All I'm hearing is rip off landlords are leaving and house prices are going back to reasonable as there isn't an inflated market anymore.
Not always the case
It's caused and issue for councils and they relied on landlords to solve the homeless issue.
It also caused landlord who have older freehold properties to cash in making the rich richer. Flawed plan from the government
Thought that the homeless issue was due by povertyđ
Please talk about article 4 for HMOs. It is a nightmare for Landlords and most people in Landon cannot afford the rent out the whole house. You also need to talk about all the selective licensing fees and additional money grab from landlords.
buy to let us a waste of money. pool your cash and buy a build plot with planning. build then sell. Iâve made more money in one build than i did with 8 buy to letâs
And you're providing housing that people actually need, new homes
What do you mean by pool?
@@aliasgur3342 Pool = gather what money you have and invite as many other people as you can to invest with you. I had two main partners. Bought an old house for ÂŁ431K spent ÂŁ350ish K sold for ÂŁ1.3M
I wonder if a local council that buys property to house homeless and migrants have to pay the 3% extra?
They don't rent to make a profit because they are offering social housing........which is for need.
why would anyone ever buy a property to rent out in London? Here's ÂŁ500k to geta 2 bed flat that rents out for ÂŁ2.5k, those numbers are madness.
Coz that ÂŁ500k flat was worth ÂŁ250k 15 yrs ago and theyâre hoping itâll continue to rise
No that's not true. They've dropped if anything â@TonyWelch75
That's 6% yield not bad
Because you buy them to do not keep cash. If you have too much cash show me a safer and less risky investment. London property prices double every 10 years. The thing is that London is not for small investors anymore.
@@coolmonkey619same as buying gov bonds, no SELC, no risk
You missed that most councils in London have enacted selective licencing schemes. Meaning a hefty 5 yearly fee, and additional rules to follow.
Yeah instead of targeting errant landlords only, they skim a bit off everyone while doing nothing at all to solve the problems selective licensing is supposed to tackle
Finally you've got a good video â€đ
Great content and no cheesy piano music, I like đ
Regarding the topic, I own a second home thatâs a 3 bed semi in zone 5 west London, and although itâs not currently rented out, I could get 1.5K pcm easily for it, however the mortgage is 1k on it (repayment), after taxes Iâd make no significant profit if it was rented out. Landlords no longer make profits like they used to so they are selling up, but it applies to other parts of the country too, not just London.
Good! Cause being a landlord is not a job and should not be while we have people who never owned a property struggle with massive rents.
@@thatgreypainwhat about people who canât afford to buy and need to rent?
@@thatgreypain of course, but with landlords selling up, supply of housing for rent will go down, and that will further increase rental fees, so whatâs the solution?
@@MsJustice4ever landlords sell to people who want to buy for a reason, either to become landlords themselves or to live in the house. The process of selling rental property naturally leads to a price decline, which in turn helps people to jump on the property ladder. Equally, the price decline means that rent naturally decreases as well as owners pay a smaller mortgage. This is the economic cycle of supply and demand.
@@thatgreypain but thatâs the issue, there has been a landlord exodus for a while now but property prices are still unaffordable for the majority of people.
There are too many people for too few rental properties as it is, and some people never buy and always going to rent so some landlords are needed.
The 5% drop likely includes central London prime and might be skewing the figures. Central and suburban areas are two markets.
Brilliant. I was able to keep my rent at its current rate after the landlord proposed an increase, given the softening of the London housing market. I have no intention to buy a home but for those that want to, landlorda flooding the market with properties will decrease prices.
I sold my 2 flats ,
Shit investment, and massive headaches đ€Żđ€Żđ€Żđ€Ż
Lol. I guess parasitism isn't for everyone
Thank you !!
Property is a horrible investment now, after two decades of making double on what should typically be expected from a low to medium risk investment, now faces the wakeup call of several decades of low to negative performance as a result.
The next massive problem which is the main reason to avoid property as a long term investment going forward is the collapsing global birth rate. In short, the worlds population is now stagnating and set to decline by over a billion people over the next 50 years, in a couple of decades time even with zero house building, supply will be outstripping demand year-on-year leading to lower and lower prices. The global elite know this is coming so want to shift to a renter based market rather than a buying market. The problem is how do you manage the transition without it collapsing the banking sector, expect to see another major global crash within the next decade as all the bad debt brings the banking sector into meltdown again.
You are talking about the whole world. But people from poor countries (where population keeps growing) will always do their best to immigrate to rich countries like the UK. So there won't be any decline in population in this country as long government will keep allowing immigration to this country. The moment immigration to here stops, everything you said will become a very sad reality.
Around about the 1:00 point the audio starts going up and down a lot. Please fix
Good video but the audio is strange
Yes but at least thereâs no cheesy piano music like in some of the previous ones, credit where credit due to him đ
good
Interest rates is surely the main answer. Following the 2008 Crash, 14yrs of QE kept rates at extraordinary lows. Now rates have normalised, mortgages have become more expensive wiping out whatever yield you earn on rent. And that's before stamp duty, EPCs, gas & electric safety certs, smoke & CO alarms, letting agent fees, landlord licenses, ICO reg, insurance, tenant acquisition, empty/void periods, maintenance, damage not covered by the deposit, legal costs, income tax & (unless you're called Angela Rayner) capital gains tax when you sell.
Why there a picture of sadiq?
Short of direct price controls on rents, Tories meddled with other :levers': but the effect is exactly the same as price controls anyway: shortages and higher prices - it's cyclical stupid idea of Governments thats as old as the hills.
I did
Sounds like Norman Collier
Russian money flooding out
Really đź please give some evidence
âFallen by 5%â - Yeah, thatâs great that theyâre still completely unaffordable
Remember the word â circle â all asset classes go through ups and downs - holding an asset in a blue chip area is simple common sense . What grows faster also falls faster . I am not a landlord just fyi
There can be only one!
Maybe the microphone is a bit iffy or you're using some audio effect post production, I don't know, but the audio has little troughs where occasional words become inaudible. I've noticed it before on a previous video too.
Back to topic - Not all landlords are mean and uncaring. I was an accidental landlord and have been for over 12 years now, but I want to sell the property in London giving the tenants at least 6 months notice. They are good people but I'm finding it difficult to pull the trigger and send the instruction to the agent.
Its the way he edited the video I think
Just imagine to have some money left to buy a gucci bag people move north â€
After having been abused 8 times in the past 4 years in London by landlords, for whom it is a game, IDK what to think. Are they going to have the same behavior out of London? đ
To have been abused once in 4 years sounds like bad luck and a bad landlord. To be abused 8 times by landlords in 4 years sounds like you were an awful tenant.
@@Lee-xl9fb I'm a European and have to pay the entire year for bad housing, not the ones depicted in the bridgertons may I say. So I went back to my country. The landlord hold you if you are a european and do whatever they want of you. After a few months If you go, the refund for 8 remaining months will never come and they know we cannot go to the court... Are you okay?
They can fill them up with the boat migrants.
Government wants Foreign investment
Demographic change
KHAN is the kiss of death for London
4:04 That graph is misleading on purpose. The gap didnât grow much at all. If you look at the percentage (relative) difference of prices in London and outside you can see it increased but not by much. London was always way more expensive than the rest of the country.
Actually London was affordable in the 90s with one person's wage and a low wage. London didn't get crazy until the Blair years. That's when it started to get out of control
@@johnB11ify Yeah I am talking since 1999 like on the Chart
Behold! The BTC transaction has safely reached our coffers.
But all this bravery amounted to nothing at all.
thanks just so you know - the sounds is terrible
The great replacement in effect
There are a bunch of brits who want a flat but donât want to pay for itâŠ. being a squatter is the new national sport in the UK đŻma advice avoid to rent your property to born and raised english ones at all cost!!!!!đ
Would you elaborate more if you had any experience in this, please?
A hoodie for a sophisticated real estate analysis presentation video? Wow. Good grief..
Almost seems like Freehold is attracting the world to buy up chunks of our country.. while the actual working class get poorer, as opportunities diminish due government legislation.
Labour is always a Taxing political party, too many investors will live London and it will end the housing market. That Labour government won't last for long.
Everyone should leave the uk with Labour in charge đđđ
Good. Donât let the door hit ya
@@serverthanos
You is funny brobro đđ
@@serverthanos but who will pay your benefits and your childrens "free" dental appointments when I leave ?
@@garethwilliams4467 Buddy, I am a higher rate taxpayer with a plan 2 student loan and postgragraduate loan. I pay my fare share. I would still rather have a benefit system than have your unpatriotic, globalist self pretending you love the country when all you do is complain. If you don't like our British Isles, our values of fairness, compassion, self determination, you my friend are welcome to leave. Simply pack up and go. People literally shove themselves on dinghies and cross bodies of water just to set foot on English soil, whereas you complain incessantly about how unfair your life is because you have to pay tax.
All land loads should expect 15 percent intrest rates at some point in the future when the bond market crash not it expected intrest rates between 12-15 unfortunately people say that is impossible during my lifetime the truth is it will one day
I was in London today and it's the quietest I've ever seen it this time of year - even Covent Garden . The Khan effect..
how the f did he get voted back in?
It's the rain, buddy...
â@@garnhamrBecause it's not British anymore... That's what the whole country will be like in future.
after effects of the covid hysteria
â@@garnhamrthe other candidates handed it to him.
Why would anyone want to live in Muslondon. đ€
Bye đ đđđđđ
Good!!! All the VAST majority of them care about... Is making money!!! At the expense of people's lives!
Go gamble with something else!!! Like the damn Stock Market!!!
Why would anyone want to live in the new Afghanistan
Afghanistan is not that bad
Afghanis are much more hospitable than Londoners
Nothing to do with London increasingly resembling a Sub-Saharan African city, surely
Donât talk rubbish.
I left UK 3 years ago to go live in one of those âsub-Saharan African citiesâ and I rent a luxury apartment in a very clean, top notch security, quiet estate with great transport links for less than ÂŁ150 a month including practically 24/7 electricity supply, broadband and Netflix subscription at exchange rate of less than ÂŁ5 per month.
I was paying over ÂŁ3k a month rent and bills on a bog standard 2 bed flat in Highbury when I temporarily moved back to London in 2017
I let out my mortgage~free 3-bed house in Berkshire for ÂŁ2.3k a month. I live like Royalty in Africa for peanutsđđ
Go figuređ
And you forget, the British went and colonised African countries (un invited) so people from the African continent truly have every right to come to the UK. P.S and where would the England football team be without immigration!
Oh no someone think of the poor penniless landlords đ
Not if your a Muslim because he doesnât pay that 5% and he doesnât have to pay it