Hi, if I want to buy a propriety up north, and to use the rent income towards my rent in london, is the rent income subject to taxes? As this income is not used as profit, it is use for the same purpose, renting. Thanks
Our home has just gone on the market 22/3/24 and we haven’t had any interest at all. The agent, we have just discovered did not inform us of sole agency agreement, contract etc. they also did not describe our home accurately and had to make a return visit to ensure they had the correct information. I’m not confident at all in their help or support and, we have seen a home we would like to buy but are unable to move forward. Any advice? Oh and they are property mark!
Thanks for sharing this. Where are you based? We agree that setting the right asking price is really important - good agents should back up figures with comparables. Also homeowners need to be realistic about what their homes are really worth too, otherwise there will be price reductions.
I’ve been watching the market closely over last year or so and I can tell you there are a lot of desperate sellers out there, theirs homes have no interest at all and have been reduced multiple times
19:30 from Phil. "I am picking up that business is brisk". Of course there is light at the end of the tunnel, lower interest rates, more choice and more realism on price, but this is after the train in the tunnel has hit them and then reversed over them.
As any market, the Housing market has its ups and downs, that ultimately is controlled by population, be it growth or decline (Decline is not happening anytime soon with current UK/Europe immigration) and changes in demographics within the population. Trying to find a property to downsize into, while maintaining quality, is proving to be extremely difficult. Modern house and housing estate builders, put buildings on top of each other, give no boundary to the front of buildings, like old traditional buildings. This is the biggest reason many who are downsizing are not buying new builds. Rental market looks likely to continued to be constrained. Landlord's, no longer have any remaining good incentives to stay within the rental market. Some, as in Cornwall, would argue this is a good thing, as 2nd home owning City types are the nemesis of all Cornish born and bread. This Cornish example, though is found throughout the UK. On the reverse side, the City types are at least allowing more rural location Housing markets continue to see sales! A perverse market and perverse world it would appear to some, maybe to the many. Good luck predicting the future or future Housing markets. As Phil said, 'It is what it is!" Interesting and informative as always Phil. Thankyou
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Nice one , all good advise
Or advice?
Haven't listened yet. I'm guessing all these people will saying everything is fine
Oh yes what a surprise.
Exactly , nothing about the elephant in the room of Over inflated prices that people get in huge debt just to live
Hi, if I want to buy a propriety up north, and to use the rent income towards my rent in london, is the rent income subject to taxes? As this income is not used as profit, it is use for the same purpose, renting. Thanks
You would need to consult your financial adviser on this
Our home has just gone on the market 22/3/24 and we haven’t had any interest at all. The agent, we have just discovered did not inform us of sole agency agreement, contract etc. they also did not describe our home accurately and had to make a return visit to ensure they had the correct information. I’m not confident at all in their help or support and, we have seen a home we would like to buy but are unable to move forward. Any advice? Oh and they are property mark!
Sorry to hear this www.moveiq.co.uk/advice/selling/complain-estate-agent/
If everything is okay why 6 out 10 properties reduced?
Estate agents overvalue to get sellers sign up a 6 month contract with them.
Thanks for sharing this. Where are you based? We agree that setting the right asking price is really important - good agents should back up figures with comparables. Also homeowners need to be realistic about what their homes are really worth too, otherwise there will be price reductions.
Don't forget the 50% fall-through rate. Hardly a sign of market health.
The Housing (Scotland) Bill....nightmare rent controls !
I’ve been watching the market closely over last year or so and I can tell you there are a lot of desperate sellers out there, theirs homes have no interest at all and have been reduced multiple times
Thanks for sharing, where are you based?
North west, not far from Manchester
This is the same on the south coast lots of top end properties not selling and reducing multiple times
@@cyclist20 www.moveiq.co.uk/blog/selling/over-valuing-property/
Seeing the same in the Midlands
Wish you would cover London and the different locations.
Thanks for your feedback and suggestion we'll look at this for a future podcast as London is very polarised.
19:30 from Phil. "I am picking up that business is brisk". Of course there is light at the end of the tunnel, lower interest rates, more choice and more realism on price, but this is after the train in the tunnel has hit them and then reversed over them.
As any market, the Housing market has its ups and downs, that ultimately is controlled by population, be it growth or decline (Decline is not happening anytime soon with current UK/Europe immigration) and changes in demographics within the population.
Trying to find a property to downsize into, while maintaining quality, is proving to be extremely difficult. Modern house and housing estate builders, put buildings on top of each other, give no boundary to the front of buildings, like old traditional buildings. This is the biggest reason many who are downsizing are not buying new builds.
Rental market looks likely to continued to be constrained. Landlord's, no longer have any remaining good incentives to stay within the rental market. Some, as in Cornwall, would argue this is a good thing, as 2nd home owning City types are the nemesis of all Cornish born and bread. This Cornish example, though is found throughout the UK. On the reverse side, the City types are at least allowing more rural location Housing markets continue to see sales! A perverse market and perverse world it would appear to some, maybe to the many. Good luck predicting the future or future Housing markets. As Phil said, 'It is what it is!"
Interesting and informative as always Phil. Thankyou
but how many can afford a mortgage?
Its not the same as the 1980s ; affordability at 20 incomes vs 3