Stupidity rises for 4 months in row

the_ash_and_the_oak

CLAPTON wrote: »

I would need to research the numbers to answer properly so I have to sort of guess... do you have any real numbers

We had a little look at this before so I have a few here (archive.org is really good for this btw)

3bed places in N19 in 2002 and today
http://web.archive.org/web/20020131061948/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0274&opt=prop&salerent=1&sp=1
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0274&bedrooms=03

1bed places in NW5 in 2003 and today
http://web.archive.org/web/20031027012311/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0275&opt=prop&salerent=1&sp=1
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0275&bedrooms=01

1bed places in W12 in 2002 and today
http://web.archive.org/web/20030521093641/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0052&opt=prop&salerent=1&sp=2
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0052&bedrooms=01

basically looked for these because I pay less rent than I did in 2003 and have a better place and didn't really remember prices ever much changing when i did move - anecdotals are anecdotals so pinch of salt and all so I thought I'd see if archive.org tallies up

b0rker

Yes.

The market in London is crazy and has been for decades.

Please start a thread telling us something we don't already know for a change.

Next!

baileysbattlebus

the_ash_and_the_oak wrote: »

We had a little look at this before so I have a few here (archive.org is really good for this btw)

3bed places in N19 in 2002 and today
http://web.archive.org/web/20020131061948/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0274&opt=prop&salerent=1&sp=1
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0274&bedrooms=03

1bed places in NW5 in 2003 and today
http://web.archive.org/web/20031027012311/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0275&opt=prop&salerent=1&sp=1
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0275&bedrooms=01

1bed places in W12 in 2002 and today
http://web.archive.org/web/20030521093641/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0052&opt=prop&salerent=1&sp=2
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0052&bedrooms=01

basically looked for these because I pay less rent than I did in 2003 and have a better place and didn't really remember prices ever much changing when i did move - anecdotals are anecdotals so pinch of salt and all so I thought I'd see if archive.org tallies up

Isn't part of rent stagnation in London due to the huge increase in rental properties that have become available over the last few years?

Accidental landlords, btl investors etc, haven't they increased the number of properties available for rent by a significant amount?

I guess the more properties for rent - the lower the rent will be.


QUOTE]The number of properties available in London has risen steadily throughout the first half of 2009, and stands 68% higher than a year ago. This has largely been a consequence of homeowners being unable to sell their properties in a difficult sales market and deciding to let them instead, creating a flood of homes available to rent[FONT=Arial,Arial][FONT=Arial,Arial].[/FONT][/FONT][/QUOTE]

[FONT=Arial,Arial][FONT=Arial,Arial]http://www.findaproperty.com/media/rental-index/FindaProperty_Rental_Index_Jul_09.pdf[/FONT]
[/FONT]

the_ash_and_the_oak

baileysbattlebus wrote: »

Isn't part of rent stagnation in London due to the huge increase in rental properties that have become available over the last few years?

Accidental landlords, btl investors etc, haven't they increased the number of properties available for rent by a significant amount?

I guess the more properties for rent - the lower the rent will be.

Well here's the thing. Apparently we have a shortgage of places to live so apparently must build more but this is occurring at the same time as a huge increase in rental properties?

CLAPTON

b0rker wrote: »

Yes.

The market in London is crazy and has been for decades.

Please start a thread telling us something we don't already know for a change.

Next!

a little light on analysis

baileysbattlebus

the_ash_and_the_oak wrote: »

Well here's the thing. Apparently we have a shortgage of places to live so apparently must build more but this is occurring at the same time as a huge increase in rental properties?

I suppose not everyone wants to live in London or could afford to pay London rents & prices - living in London would be miy idea of hell.

There are less people (graduates) taking up positions in London, the number of working age people has gone down - perhaps some of those are O/O who have left and are trying rent out their London properties?

But I take your point about a lack of housing and a glut of rentals.

the_ash_and_the_oak

baileysbattlebus wrote: »

I suppose not everyone wants to live in London or could afford to pay London rents & prices - living in London would be miy idea of hell.

It seems enough people want to live in London to drive prices up by 2-3 times during a period where there aren't enough people who want to live in London to affect rental prices?

There are less people (graduates) taking up positions in London, the number of working age people has gone down - perhaps some of those are O/O who have left and are trying rent out their London properties?.

I can understand this if we're talking about the last 12-18 months but the timeframe in question is getting on for 8 years

chucknorris

the_ash_and_the_oak wrote: »

We had a little look at this before so I have a few here (archive.org is really good for this btw)

3bed places in N19 in 2002 and today
http://web.archive.org/web/20020131061948/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0274&opt=prop&salerent=1&sp=1
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0274&bedrooms=03

1bed places in NW5 in 2003 and today
http://web.archive.org/web/20031027012311/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0275&opt=prop&salerent=1&sp=1
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0275&bedrooms=01

1bed places in W12 in 2002 and today
http://web.archive.org/web/20030521093641/www.findaproperty.co.uk/cgi-bin/area.pl?areaid=0052&opt=prop&salerent=1&sp=2
http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=1&areaid=0052&bedrooms=01

basically looked for these because I pay less rent than I did in 2003 and have a better place and didn't really remember prices ever much changing when i did move - anecdotals are anecdotals so pinch of salt and all so I thought I'd see if archive.org tallies up

My own personal experience is that rents have not been stagnant, at least not in the Battersea area of London for 7 years, My rental inflation for my 4 Battersea flats is as follows:

2002

2.41%

2003

1.76%

2004

5.32%

2005

4.94%

2006

4.29%

2007

2.31%

2008

5.51%

2009

-3.92%

and from 2001 to 2009 the figure is +24.5%

Obviously the above is based on the exact same flats not simply comparing available properties in 2002 to 2009. Whilst I do not doubt what you are saying is true, it could easily be explained by you happen to be on a much better deal now than you were earlier in 2003.

the_ash_and_the_oak

chucknorris wrote: »

Obviously the above is based on the exact same flats not simply comparing available properties in 2002 to 2009. Whilst I do not doubt what you are saying is true, it could easily be explained by you happen to be on a much better deal now than you were earlier in 2003.

Of course - though when I have moved and looked around prices never seemed particularly different. but you are right my own experience is purely anecdotal and should be taken with pinch of salt.

But wanted to show that imo you can get the same type of place for around the same money as you could 7 years ago in many parts of London (actually I should go look out an older post on this where there were a few good examples of the same flats and houses on for less today than in 2002 N5 and NW8 i think were the examples I used - tho I think there's a couple in the links above which are the same flats and houses too - i'll check in a bit).

Graham_Devon

baileysbattlebus wrote: »

Isn't part of rent stagnation in London due to the huge increase in rental properties that have become available over the last few years?

Accidental landlords, btl investors etc, haven't they increased the number of properties available for rent by a significant amount?

I guess the more properties for rent - the lower the rent will be.

This doesn't tally though with this "demand" every keeps talking about.

If we don't have enough properties, it doesnt matter if those properties are available to rent or buy.....if this demand stuff is really the be all and end all for property prices, it will effect both rentals and properties on the market.