London rents fall...again

Austin_Allegro

chucky wrote: »

is the City bust or is it suffering a bad recession? i believe just a bad recession.

as for foreigners moving out - i don't think so, they're moving back in to grab a bargain from those that need to sell; see below from the FT

http://www.ft.com/cms/s/656a9a72-cdfd-11dd-8b30-000077b07658,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F656a9a72-cdfd-11dd-8b30-000077b07658.html&_i_referer=http%3A%2F%2Fwww.ft.com%2Fworld%2Fuk

Ah, good old 'pent up demand'...the words 'Estate agents said' in that article might give you some idea as to its trustworthiness...

chucky

Austin_Allegro wrote: »

Ah, good old 'pent up demand'...the words 'Estate agents said' in that article might give you some idea as to its trustworthiness...

yep - that must be it... but don't let facts (from a reasonable source - the FT) get in the way of the discussion. :rotfl: :rotfl: :rotfl:

but if I had posted this (by the same journalist) in big bold font, maybe it would have been better appreciated.

http://www.ft.com/cms/s/2f0ed168-c2fa-11dd-a5ae-000077b07658,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F2f0ed168-c2fa-11dd-a5ae-000077b07658.html&_i_referer=http%3A%2F%2Fboards.fool.co.uk%2FMessage.asp%3Fmid%3D11350371%26sort%3Dpostdate

Austin_Allegro

chucky wrote: »

yep - that must be it... but don't let facts (from a reasonable source - the FT) get in the way of the discussion. :rotfl: :rotfl: :rotfl:

but if I had posted this (by the same journalist) in big bold font, maybe it would have been better appreciated.

http://www.ft.com/cms/s/2f0ed168-c2fa-11dd-a5ae-000077b07658,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F2f0ed168-c2fa-11dd-a5ae-000077b07658.html&_i_referer=http%3A%2F%2Fboards.fool.co.uk%2FMessage.asp%3Fmid%3D11350371%26sort%3Dpostdate

...but that also contains the magic words 'say estate agents'...so again, I would take anything it said with a pinch of salt....

beingjdc

the_ash_and_the_oak wrote: »

Heh I just had my rent go up for the first time since 2002! (zone 2 london)

Curious, though I guess if it's been the same since 2002 it might be below market rates. We're in Zone 2 London and I'm seriously thinking about asking for a reduction as prices around us tumble.

the_ash_and_the_oak

I'm in a houseshare and I think that for primary london at least houses have not been in the reach of the more recent landlords (apparently my landlord has 50+ places and has been doing this since early 80s). While I don't disagree with the article that rents will come down (especially for flats and for top range houses) I don't know how much that will take place in traditional 'houseshare' parts of London where there haven't really been rises to now 'undo'

I don't blame you for asking for a reduction and in many cases I would also do the same (especially if I lived in a one or two bed flat). In my particular case I considered a 5% rise acceptable

mean_momma

Austin_Allegro wrote: »

Ah, good old 'pent up demand'...the words 'Estate agents said' in that article might give you some idea as to its trustworthiness...

Well I would assume that everybody on this forum, including myself, would jump at the chance to buy/trade up if prices reached a suitable low = so there is indeed a 'pent up demand'!

the_ash_and_the_oak

Not entirely sure thats true! I'm happy where I am (yes! in a houseshare!) and my parents want to downsize!

IveSeenTheLight

carolt wrote: »

"Rents for one- and two-bedroom flats in the £1,350 to £2,000 a month range have increased "

Above almost lost in the post.

I'm interested to know, for those that rent in London, what has happened to your rent.

Has it increased in the last two years?

Has it decreased in the last two years?

Has it stayed the same in the last two years?

Also, What is your retn now compared to when you first rented the property?

chucky

good spot - i'm surprised that this wasn't highlighted in bold or in larger font in her post...

carolt wrote: »

"Rents for one- and two-bedroom flats in the £1,350 to £2,000 a month range have increased but it is apparent there is less demand for higher-priced flats."

seeing that most people on here wouldn't go for the higher priced flats in London it's a very interesting post from Carol - are you looking at renting a reduced rent top end flat Carol?

carolt

No. And I'm not in London.

Why, are you?