michael fickling

Registered with Property118.com
Saturday 19th July 2014

Latest Comments

Total Number of Property118 Comments: 119

michael fickling

9:27 AM, 9th June 2017
About 2 years ago

What does a Hung Parliament mean for Landlords?

We should take the hung parliament as a positive.... from the result.. May and her cronies have alienated a lot of traditional tory voters ( including hundreds of thousands of landlords )...they have had numerous u- turns and silly socialist populist type policies..eg...they promised no tax rises and actually invented a completely new one in a tax based on a cost ( Cl 24)..they tried to raise national ins. tax for self employed etc etc. and various other nonsense. Both May and towards his end..cameron.. made the major error of trying to focus more on gaining new supporters with socialist type policies. They failed in that and at the same time forced many of traditional tory voters to abandon them...We should encourage them to take due note and get back to supporting business..especially small enterprises including landlords. They needed a big slap for their arrogance and foolishness and theyve finally got one.
Maybe they will be now a little more inclined to listen to us and other investors and business people. May is no leader and her conceptual thinking around politics and the electorate has not been good since she moved to No10. .She has now made a number of major blunders with this election being the last and biggest. Hopefully the conservative party will perhaps now wake up and remember that they need to support business and investment with real policy not rhetoric and increased taxes and interference as they have been doing.. In the long term its a good result for us.... Read More

michael fickling

11:18 AM, 27th April 2017
About 2 years ago

Sadiq Khan announces new database of criminal landlords and agents amid opposing industry views

The problem with any one sided "list" such as the one the Mayor is creating is it will have the effect of painting a bad picture of landlords and cant show anything negative on any of the hundreds of thousands of tenants that miss paying rents...or any of the other problems they
can create..such as damage......stealing ...dirt and mess etc etc. which just about all of us have seen occur at some time or other.The media will only report from that list of course. In fact there are almost very certainly more rogue tenants than landlords..and probably certain stats. ( bonds ? ) that would support that...certainly stats on offending and social income type- groups or similar would raise the very strong probability that ratios of law breaking are higher by tenants than landlords. The mayor would of course hate that statement....he would see his
new landlords list as the truth..and justify it as such....but he wouldnt like to handle the real truth! .... Most landlords have never had legal action taken against them by a tenant...but very many of us have had to take legal actions against tenants...often several times...and with
eventual court findings generally in the favour of landlords...and we dont generally bother where amounts are relatively small.
Once again landlords are effectively discriminated against... with this mayors list.. without any balance whatsoever. Perhaps we should ask him if he would support such a problem based list..identifying rogues in any other single section of the community.??...without any opposite to give a balance view. Seems landlords are a minority so its ok to prevent one sided information against them..( mmhh where have we heard that before ! )...one..cant discriminate on gender, age, faith or race..marriage..sexuality.etc etc but landlords ..yep no problem. >>>>He cant ethically or morally speak out or resist discrimination against minority groups whilst creating a one sided list such as this...when he would not tolerate let alone create such an index in any of those spheres.<<<<<<< If anyone creates a list relating to any of those areas hes in a tough spot... got himself nicely hooked up..on his own moral maze. His own prejudice against landlords would appear to have clouded his judgement. Can someone ask him how hed feel about the creation of a rogue tenants list and for him to also explain/rationalise his probable contrary positions.... Read More

michael fickling

8:34 AM, 26th April 2017
About 2 years ago

Busting The Great Myth of House Price Growth

The office of National Stats. have replied to my comments as outlined in the lead article i put together above.
Not the easiest reply to understand or summarise I have to say...bottom line..I dont think from their reply... that their data truly reflects the "over time" effect of significant and typical improvement to properties as they are re sold over the years. There is certainly nothing in it that would appear to capture internal improvements and additions.
They do make a comment that "houses are not traded" often?? which basically misses the point completely that a house re sold some years down the track is very likely to have been improved... a markedly more likely scenario than denuded value. Eg ( note only by illustration) the average 1940s terrace home will be hugely improved in many ways from its original features. Indeed a simple upgrade such as double glazing would ..twenty years after first sold probably exceed the original purchase price. OR.. If you prefer something over a shorter period>> a 10k kitchen on a cheap four year old house ..will also maybe effectively double its apparent "growth" price if then re sold.
I remain convinced that house prices achieved are very significantly affected in terms of GROWTH calculations ..over time ..by improvements to properties..which are constantly being fed into the figures on hundreds of thousands of sales each year. ...and given the small fractions involved in true growth and the significant value added by improvements and upgrades the figures are not showing true organic growth.They significantly over exaggerate the apparent growth to the upside.They will continue to do so until a better method is used ( incorporating full allowance for improvements..by some sort of typical formula figure )...and this goes along way to explain how each subsequent generation seems to have house price growth significantly in front of other economic indicators. That cant be both real and sustained in the way it broadly appears to have been.... Read More

michael fickling

20:37 PM, 21st April 2017
About 2 years ago

Busting The Great Myth of House Price Growth

Reply to the comment left by "John Frith" at "21/04/2017 - 17:49":

Your point about the achievement of CAPITAL appreciation by leverage is well made. ie organic growth on domestic dwellings is actually tiny..and it is generally only via leverage by finance that, for most of the country and most periods.., it becomes a sensible aim to make appreciable gains on house price inflation.( please>>> no diatribes about London or rental income.... ). And despite the silly headlines and rhetoric... there are huge areas of the uk which have still only just about got back to pre G>F>C price levels. including some cities.
Hence why Clause 24 is so destructive and ill conceived. Finance leverage is generally key to capital growth investment on houses and it being a reasonable investment aim..
For the country as a whole.. and long term.... true growth...without leverage... is very low single digit stuff....hardly different to bank deposits...and much more troublesome to manage and difficult to exit/realise gains.

Moving to rents... few normal and sensible small business persons would be remotely interested..generally... in a business generating income at around 4 or 5% .GROSS..on cost of same business. Those figs would be pretty typical. with a rental of a house at present...maybe even generous at current entry..

So..if one wants serious rental income its HMOs etc with all the aggro accompanying same to get that % up......or ordinary house and single family/or whatever.... leveraged by at least 50% finance...... or some sort of combination of the two..The myth that houses are a money fountain is just that. Their attraction is the long term, almost, certainty of growth..coupled with the potential of leverage via finance. Unless you are prepared for the frequent aggro of multi occupancy...houses.......then houses without leverage by finance do not stack well compared to % returns on other small businesses.
The geography student who drafted C 24 was probably ignorant of these facts....and the problems which will now follow..... Read More

michael fickling

21:15 PM, 19th April 2017
About 2 years ago

Four Election Issues On Which Landlords Should Be Lobbying Their MP's

The point was to get this lot to change the policy ie Cl 24.. Their policy.Not to swap them for a different party.......and to do so by amongst other things ..telling them that we would not vote for them...and that the clause is in conflict with their stated claims around both supporting business and investment and NOT raising income tax.... Read More