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Say hello to Barratt Homes' 'Brixton Square' on Coldharbour Lane (old Cooltan site)

5.2 per cent gross yield. Kanda's flat offers at least 7 per cent. Let for more than £1,000 a month, then more than 7 per cent!

Mortgage of £700/month, could let it for £1200 easily once tidied up a bit. I hope not to but I'm soon unemployed and that would pay my rent in the pub. Need to see how the job market is....
 
Lol lol lol just meant it would be great for tenants to have no problems with leaking taps etc etc etc but take you point and it made me smile
Thanks for clearing that up, it was probably just your wording that confused us
Mr Bim of Bar said:
Yes but these apartments come with a five year warranty so you will be vitually maintenance free and no grief FROM your tenants
E2a I can't help wondering if the "of Bar..." bit betrays a connection, a bit of assymmetrical marketing strategy mebbe ;)
 
Yes Belushi, but I WANT NEW, as I said before it ticks all my boxes...

I wouldn't buy a Barretts home to live in full stop. I still recall with horror spending a couple of months labouring on a large Barretts development in Middlesex just after I left school (fitting damp course membranes and laying sealant on concrete floors), and being struck by just how closely they shaved the materials bill. The site agent thought it was okay to demand that we used scraps of membrane taped together because "the punter won't know any different". :facepalm:
The same development also had stud partition walls filled with fibreglass insulation, as opposed to brick or breeze block, dividing the semis.

I haven't heard anything since that makes me more sanguine about the quality of Barratt Homes. :)

oh just in case anyone is Interested the projected rental on a two bed apartment is £360 a week

Two-thirds of that, I'd say, will be what they're likely to get, maybe the full £360 if demand tightens.
 
kanda you can't stop market forces without a revolution

Of course you can. Market forces aren't some external, unstoppable mystical force, they're artifacts of, in this case, market manipulation and a chronic undersupply of housing. A chronic undersupply that the coalition's housing benefit cap may well have an adverse effect on by shifting people who can't afford local prices outward toward the suburbs, easing supply in this area.

Make life terribly hard for buy-to-let landlords, that would.
Still, as the great Windsor Davies, says: "Oh dear, how sad, never mind!".
 
Building warranties are bunkum, for the most part, and the developers will begrudge every single penny they have to shell out for fault correction.
Yes, this. You always, always have to look for the other guy's angle. If Barratt are acting as developer, land agent, estate agent, letting advisor, investment manager, insurance provider and god knows what else in between, that is a hell of a lot of margin they must be making. So how are they making their margin....? By putting lipstick on any pigs they can find and selling it as a feature. Doesn't necessarily mean you shouldn't't buy a new build from a developer, but you need to have a really clear view on what you are buying and what you're being sold
 
Yes, this. You always, always have to look for the other guy's angle. If Barratt are acting as developer, land agent, estate agent, letting advisor, investment manager, insurance provider and god knows what else in between, that is a hell of a lot of margin they must be making. So how are they making their margin....? By putting lipstick on any pigs they can find and selling it as a feature. Doesn't necessarily mean you shouldn't't buy a new build from a developer, but you need to have a really clear view on what you are buying and what you're being sold

And, if at all possible, get a passing familiarity with the techniques and materials used in the build. That way it makes it easier to spot howlers like skimped drainage pipes that'll cause a damp problem and too-wide expansion joints that'll let the elements in.
 
And, if at all possible, get a passing familiarity with the techniques and materials used in the build. That way it makes it easier to spot howlers like skimped drainage pipes that'll cause a damp problem and too-wide expansion joints that'll let the elements in.
Agree- but people don't because they have a glossy brochure that tells them it'll all be fine. I have no issue with new builds per se- though they don't appeal to me particularly- but I am always amazed at the stuff people then find is wrong with them- some is preventable, some solvable, some I wouldn't buy a place because of. And the developers are clever- eg Chelsea wharf had a rat infestation, loads of residents called rentokil and similar rather than wait for the official response, so the developers said it was no longer a development issue. And they use reduced size furniture in the show homes- you have no comeback when yours doesn't fit... The finish in the show homes are often not what you get when you buy as the small print says something different, they can build another block pretty much up against your windows (see again Chelsea wharf) etc etc. as I have said elsewhere, you need to know who you are doing business with- the developers do this all day every day so are pretty sharp cookies.... Yet people know nothing about property drink the mediocre wine, take the brochure and feel 'safe'. Clever game of smoke and mirrors....
 
Of course you can. Market forces aren't some external, unstoppable mystical force, they're artifacts of, in this case, market manipulation and a chronic undersupply of housing. A chronic undersupply that the coalition's housing benefit cap may well have an adverse effect on by shifting people who can't afford local prices outward toward the suburbs, easing supply in this area.

Make life terribly hard for buy-to-let landlords, that would.
Still, as the great Windsor Davies, says: "Oh dear, how sad, never mind!".

In London I think it could be worse scenario.

Rental prices are holding up due to demand.

Benefit caps/ low wages could lead to the situation where people move out of London altogether.

Do not think the Coalition have thought about all the cleaners, waitresses etc etc who keep London going for them as cheap labour.
 
Many lenders are wary of New Builds. Generally cos they are overpriced but not proved value, therefore you more likely had a sizeable deposit.

Thing is, SW/SE London, the general housing market is fucked with huge deposits and it helps nobody. All you do is price everyone else out of the market, it's a shite state of affairs that, given a bit more research, if you actually give a fuck, you may come round to.



Never gonna happen though, and yeah, some other cnut will jump in regardless.
 
Benefit caps/ low wages could lead to the situation where people move out of London altogether.

Do not think the Coalition have thought about all the cleaners, waitresses etc etc who keep London going for them as cheap labour.

That's something that I've seen suggested quite a bit on here, but I really can't see it happening. The situation regarding housing in London is fucked but it's not unique, and I've never heard of a single example of anything like that happening. It seems far more likely that what the result will be is increasingly crowded accomodation.
 
It needs house building on a heroic scale to keep up with London's surging population.

I wonder if the proposed conversion of office blocks will help.
 
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