From: JF 
Newsgroups: uk.politics.misc uk.finance
Subject: Re: UK Property Market. Is the 'House of Cards' about to come crashing down.
Date: Wed, 23 Nov 2005 16:18:02 +0000

In message <1132741647.271972.76120@f14g2000cwb.googlegroups.com>,
Crowley  writes

>Here is a critique by one of the organisers of the housepricecrash
>site...

(Snip an excellent post. Many thanks)

>Once people start realising next year, that only a small minority will
>actually be able to really benefit from the SIPP rules, the hype will
>evaporate, and wine prices will collpase again, and this will also be
>the final straw for the BTL market.

The only thing I question is the last sentence about the death knell of
the BTL market. Those who are considering entering this market should
consider the following:

1.      This may sound like stating the obvious but exercise care when
        buying. Buy property that you would wish to live in, in a
        location that you would be happy with. In my case I buy only
        purpose-built sea front flats. My own research has shown that
        the owner of such a property at the market rent or slightly
        lower will never be without tenants.

2.      Buy in an area you know well.

3.      Always use a local agent to look after the rental side. Where
        possible I use the agent who also manages the property on behalf
        of the head lease holder. I don't begrudge them their ten per
        cent because such agents usually have a database of local
        plumbers etc who carry out repairs promptly and at a reasonable
        price.

4.      An agent will keep you on the right side of the law!

Of course, there are exceptions to the above as I've discovered! A
colleague has bought the nearest residential flat to Gatwick Airport
possible. It's within a 200 walk of the long-term car park shuttle
buses. I thought he was mad but he's had prospective tenants clamouring
for the place. There's a new and peculiar breed of renter about: couples
who've opted to live in Spain and work in England. Sounds weird but
they're out there! They commute back to the UK for four days per week
and want 'crash-pads' near airports! The closer and noisy the better
because airports usually have good public transport and they don't want
the expense of running a car in the UK.

-- 
James Follett. Novelist. (G1LXP) http://www.jamesfollett.dswilliams.co.uk
"Return of the Eagles", the last book in James Follett's 'Eagles' trilogy
published by Severn House, London & New York, Dec 2004.