To hate homes under the hammer

You don't have to watch it. I like to see the before and after, like getting ideas not that I can do anything lol

I love it.
They aren't affordable homes though, they cost at least 20-30k to sort if not more! What kind of new property owners have that spare?

I find it difficult to believe the renovation costs. They say they will get new double glazing,gas central heating,new kitchen and bathroom with a 10k budget.
How?

It's when they buy a 4 or 5 bed family home up north, then turn it into loads of flats, or a HMO. There are plenty of flats and HMOs about, people want family homes. I really wish councils wouldn't allow the conversion of houses into flats and HMOs. Fine for big old buildings like old schools/ office blocks/ converted churches where the space is vast but normal homes should stop normal homes not be allowed to be flats and HMOs.

On the point at PP sais about them been out of reach for FTB or people who need mortgages. I do believe if landlords with huge portfolios were not around, those houses on Homes under the hammer would be bought cheaply by councils/ housing associations who have maintenance teams who fit kitchens/ bathrooms ect as a job. It would vastly increase social rental supply if they could get their oars in. Instead they are bought by "Mark with his 87th portfolio house who is going to gut the place and paint it landlord magnolia or white, pop a cheap kitchen in, a cheap bathroom and some £1 a metre carpet all on a budget of £10k and turned round in 8 weeks. Then the estate agent mooches round and exclaims it is done to a high quality and now can attract rents of £900pcm when every other property on the rental market in the area goes for £600. Ugh the show gives me the ick.

Most galling I ever saw, was one where a LL bought a cheap 4 bed house in a relatively cheap area up north, did a cheap renovation and turned the 2nd reception into a 5th bedroom. Then, as he very gleefully told the presenter, he could rent it out to someone with a lot of children, on benefits. He already had someone lined up.
At the time you could still claim HB for a 5 bed house, but AFAIK no longer.

I used to watch it now and then while attacking the dreaded ironing!

If it didn't go to them, it's not going to go to someone who is looking for cheap rent, or someone with a young family looking for their first home that needs thousands of pounds of work that people must freely have to buy a house like that. That programme is all about someone looking for a do'er upper and sell on or rent....thats business. Just don't watch it.

I agree with your thinking OP but as a PP pointed out, it needs to be someone with ready cash who is good at renovation - that counts most people out.

Oh and Homes Under the Hammer lie. My friend was on it and they lied about how much money he made - made it seem like a lot more than he actually did.

Always amazes me how they can get a complete refurb and change from 10K.

And theh always decorated them in the same blah,way ,

Houses sold at auction are usually not what would be classed as affordable - even if they were sold via the usual route they'd be unaffordable because of the renovation required and wouldn't be habitable doer-uppers. You also couldn't get a mortgage on most of them, so someone with lots of ready cash has to buy them. What would happen to those houses if developers weren't allowed to buy them?

I understand your point about a lack of affordable housing, but I don't hold Dion Dublin responsible for that.

As soon as I hear the word “portfolio” I start rolling my eyes.

lots of people, buying cheap properties in the North, to rent out, so they can pay the mortgage on their posh London pile.

The housing crisis will never be solved if some people own 20 properties.

i would love rent control to come in, so it was a % of the average salary in that area.