The rental property market

chipotle_2

With house prices falling and an increasing number of people unable to pay their expensive mortgages, you'd think rental prices would go up. However, some people say in some areas there's too much choice and so rental prices are going down.

I thought I'd start a thread to discuss this. Maybe there are regional differences, what is it like where you live? is renting the same, more or less expensive than last year/two years ago?

stevetodd

chipotle wrote: »

With house prices falling and an increasing number of people unable to pay their expensive mortgages, you'd think rental prices would go up. However, some people say in some areas there's too much choice and so rental prices are going down.

I thought I'd start a thread to discuss this. Maybe there are regional differences, what is it like where you live? is renting the same, more or less expensive than last year/two years ago?

I have put my rents up for both of the last 2 years, I don't tend to ask over the market price though, I prefer to be quite reasonable and have a good choice of tenant, that's in Battersea

DaveyDave_3

Rents seem to be pretty static in this area of the SE (Maindstone). Looks to me that people you can't sell their property are making it available to let. As a consequence there are lots more rental properties available and so the preice isn't really rising.

If property are *really* loosing 2% a month, then renting has got to be worth while even if it means that you can't save as much.

lillylei

the rental here in north hampshire seems to be decreasing, we got served 2 months notice to leave our property (before crimbo with 2 kids, thanks landlady!) and we booked a veiwing at a house on the friday, by the tuesday when we viewed it had dropped in price by £55, makign it bigger and cheaper than our current rental!

Gingernutmeg

In my experience (recently moved to Wilts from London) there were lots of rental properties available and we were able to negotiate well on prices. There seems to be a lot of properties that are being rented because the owners can't sell so it seems (from a tenant's pov) that there's lots of choice in the market and good deals to be had ... although there didn't seem to be any landlords willing to commit to tenancies longer than six months ... Lots of properties seem to be sticking for ages though, usually those with no flexibility on prices.

poppy10_2

Gone up 5-10% annually for last few years; lately seen a few drops but nothing major.

chipotle_2

It seems at least 3 of the replies are about London rentals, and that there seems to be plenty of choice around. How about the rest of the UK?

RomansProperties

HI
We rent studio apartments in Leeds and last year they were £60/£65 and this year we are getting £70/£75 for the larger 1 bed places quite easily.

N79

This year rents appear static (London communter belt towns outside of London). Healthy rent rises over the last few years though (4.2, 5.7 and 3.6 percent respectively).

MissMoneypenny

I'm just outside zone 6. I became an accidental STR last year (sold house, moved area and was renting while looking for an area to live in, then the crash started). Latest asking rents in paper show that I am paying too much for this house now.

MissMoneypenny

If you install Firefox and then Property Bee, you will be able to see what rental asking prices are in your area and any drops in those asking prices.