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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 15th Feb 13, 1:26 PM
    • 2,324Posts
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    Former MSE Helen
    MSE News: Rents slip as more first time buyers get mortgages
    • #1
    • 15th Feb 13, 1:26 PM
    MSE News: Rents slip as more first time buyers get mortgages 15th Feb 13 at 1:26 PM
    "Private rents dropped for the third consecutive month in January as increased mortgage availability eased pressure..."

    Read the full story:

    Rents slip as more first time buyers get mortgages



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Page 1
    • tim123456789
    • By tim123456789 15th Feb 13, 2:09 PM
    • 1,597 Posts
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    tim123456789
    • #2
    • 15th Feb 13, 2:09 PM
    • #2
    • 15th Feb 13, 2:09 PM
    I have to say I can't see the point in news release like this

    Rent changes vary considerably from region to region and posting headlines based upon the average is just nonsense

    tim
  • sandsni
    • #3
    • 15th Feb 13, 4:46 PM
    • #3
    • 15th Feb 13, 4:46 PM
    It's also possible that rents have slipped in the past 3 months because few people want to move close to Christmas time and desperate LLs have dropped their prices to attract more interest. Might have nothing whatsoever to do with mortgage availability.
    • rogerblack
    • By rogerblack 15th Feb 13, 9:42 PM
    • 9,287 Posts
    • 9,443 Thanks
    rogerblack
    • #4
    • 15th Feb 13, 9:42 PM
    • #4
    • 15th Feb 13, 9:42 PM
    Or indeed because the changing of LHA to the 30th percentile rates has finally kicked in, and tenants on LHA are being forced to negotiate lower rents, or are unable to take up properties with higher rents.
    • ruggedtoast
    • By ruggedtoast 15th Feb 13, 11:13 PM
    • 8,726 Posts
    • 19,104 Thanks
    ruggedtoast
    • #5
    • 15th Feb 13, 11:13 PM
    • #5
    • 15th Feb 13, 11:13 PM
    Good! GOOD!!!
    It's better to be a dead hero than a living wuss. - Drazic: Heartbreak High
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 15th Feb 13, 11:21 PM
    • 22,815 Posts
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    HAMISH_MCTAVISH
    • #6
    • 15th Feb 13, 11:21 PM
    • #6
    • 15th Feb 13, 11:21 PM
    It's also possible that rents have slipped in the past 3 months because few people want to move close to Christmas time and desperate LLs have dropped their prices to attract more interest. Might have nothing whatsoever to do with mortgage availability.
    Originally posted by sandsni
    That's right.

    The LSL rent index falls over winter every year.

    It would be good news if significantly more people were getting mortgages, and so lessening demand for renting to the extent rents would come down, but it's unlikely that point has been reached yet.

    Rents will probably rise again this year, but perhaps more slowly than the last few years, as mortgage availability continues to slowly increase.
    "At the Observer 10 years ago, I was writing things such as "the housing boom has to end" and "it's impossible for house prices to go higher".

    Friends who took note of those articles still find it hard to speak to me."


    ~Faisal Islam, Ch 4 Economics Editor, August 2013
    • sammyw
    • By sammyw 16th Feb 13, 9:36 PM
    • 441 Posts
    • 150 Thanks
    sammyw
    • #7
    • 16th Feb 13, 9:36 PM
    • #7
    • 16th Feb 13, 9:36 PM
    Our rent went up £40 a month in January Still saving for deposit for our first house
  • Turnbull2000
    • #8
    • 16th Feb 13, 10:12 PM
    • #8
    • 16th Feb 13, 10:12 PM
    Just a seasonal blip. Rents will rise ahead of earnings for a good few years yet. Expect 5-6% growth in 2013.
    Hi, weíve had to remove your signature. If youíre not sure why please read the forum rules or email the forum team if youíre still unsure - MSE ForumTeam
    • jayship
    • By jayship 16th Feb 13, 10:16 PM
    • 335 Posts
    • 98 Thanks
    jayship
    • #9
    • 16th Feb 13, 10:16 PM
    • #9
    • 16th Feb 13, 10:16 PM
    I wish!!!!. Landlords in London are demanding an increase.
    • zerog
    • By zerog 17th Feb 13, 11:53 AM
    • 2,208 Posts
    • 743 Thanks
    zerog
    I wish!!!!. Landlords in London are demanding an increase.
    Originally posted by jayship
    Rents have nothing to do with mortgages, at least in London. Private rents are set by the councils, as landlords will not rent privately with all the risk when the council will pay them directly to house those people who don't pay their own rent.

    Lots of foreigners want to live in London and either they don't care what the rent is, or the employer pays and doesn't care. This forces people who do care about their rent to move further out, which increases the demand there.
    • jayship
    • By jayship 17th Feb 13, 12:10 PM
    • 335 Posts
    • 98 Thanks
    jayship
    Zerog
    This thread is about rents and from what i know private landlords are reluctant to let out to local authotities in London as they pay 25/30% less than what they are able to get privately. There is a possibility of rent not being paid in all sectors including where housing benefit is paid to the tenant and not the landlord.
    • keybored
    • By keybored 17th Feb 13, 2:57 PM
    • 12 Posts
    • 2 Thanks
    keybored
    Our rent went up £40 a month in January Still saving for deposit for our first house
    Originally posted by sammyw
    Luxury, our landlord wants an extra £200pcm
    • Pincher
    • By Pincher 18th Feb 13, 3:42 AM
    • 5,365 Posts
    • 1,913 Thanks
    Pincher
    If I get good tenants, I typically don't raise rent for the first three years, because the changeover cost a lot of time and money, so I would rather they don't economise by downgrading. In these days of long term salary freezes, you can upset a perfectly good apple cart by being too greedy.

    If they are a nuisance, the increase in rent is really a hint that I want them to go.
    What happens if you push this button?
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