Anyone bought or researched in the UK?

[josko]

Hi all,

I was just reading an article in API on Gill Fielding.

I quote:

" I do look overseas, however I will say that the UK market is so fantastic for property investing that really you don't need to go outside of the UK."

She goes on to say she is getting 6000pds/mth and her total expenditure- including mortge is 500pds.

We have no idea of her LVR - it would have to be significantly low....although I can't assume anything.

Has anyone researched or bought in the UK? grossreal?

Regards JO

 

[tab]

ive just left the uk after living there for 18 months.

i never bought there (i arrived in 07 amidst the plunge) but i kept track of the market, especially in the north east where I was based.

The main thing was that there were many many places for sale and as the market tanked people dropped their prices, so good deals (depending on your perspective) were around.

i used to use sites like propertysnake.co.uk and one that i think was called zoopla.co.uk to track prices, medians etc.

the other thing I noticed is that in the NE, the abundant terraces were all poorly designed and decorated and a couple of people I know who had longer contracts than I did, bought cheap and have refurbished hoping the market will rise again by the time they leave.

 

[joeExpat]

I bought 10 years ago, sold 2 years ago. Lived in it for a while so no cap. gains tax.
Used to be easy but most banks, etc have stopped lending to investors as they are seen as high risk now, a lot of investors have gone under or are stuck with properties worth much less than their loan. Banks that still lend require 40% deposit. I don't think yields are much different to Australia. Many (most?) flats are leasehold, value of the property starts dropping fast when less than 100 years left.
The conveyancing process is a complete nightmare, it took 7 months after finding a buyer in 1 week and the buyer can pull out anytime or lower their offer price as no deposits are required.

 

[josko]

Thanks for your replies guys.

Maybe it's fine for a UK resident like Gill but ot an OS Investor.

I do have my British passport lying around somewhere.....but would suspect you need to be a resident.

Regards JO