I have had enough of problems with, on one hand tenants who endlessly mess me about, and, on the other, the government's never-ending attacks on the BTL and property sector. Therefore, I'm trying to sell our BTL properties.
They all based in outer London and Hertfordshire and range in price from £400k to £3m.
Obviously the following determinations are somewhat subjective, but we were trying to sell them for c. 5% over what one could deem to be their current actual price, but didn't have any success over a period of six months. We have since reduced their prices signficantly, by around 10%, so they are 5% below what one could consider to be their "actual" price.
However, there is still little interest and the only offers we get are 15% below my current prices.
The agents and buyers are all telling me the BTL sector is in a freefall because of Brexit and the countless government changes. They tell me there are many BTL landlords who are willing to sell their properties at significantly below market price and I need to do the same to. I keep trying to persuade them that, while the market in the south-east is undoubtedly going down, all kinds of independent metrics don't backup their assertions of it being in a freefall, but they strongly disagree with me.
I'd be curious to know what's your experiences and thoughts in terms of BTL property prices in the south-east of England?
Cheers.
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