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Rents Rising due to supply shortage....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.dailyexpress.co.uk/posts/view/161523/Supply-and-demand-boost-rentsTHE good news is that rental incomes across the UK rose by 1.2 per cent to £814 a month in February as the supply of properties available to rent fell to a 15-month low, according to new figures.
Supply is falling as “accidental landlords”, people who rented out their home because they couldn’t find a buyer, take advantage of the property revival to sell their properties, says Nigel Lewis, property expert at FindaProperty.com. “The market is no longer awash with a surplus of property to rent. If this continues, landlords may enjoy a further recovery in rents this year.”
Another factor bolstering tenant demand is that many potential first-time buyers can’t afford the large deposits that lenders are still demanding, and have to continue renting instead.
Landlords who clung on to their properties through the recession are now enjoying improved returns, says David Brown, commercial director at LSL Property Services: “After a couple of challenging years, buy-to-let has bounced back. In January, total annual returns from capital growth and income were an impressive 16.7 per cent. If investors carefully select the property based on rentability and yield, buy-to-let will return a tidy profit in the long-term.”
As predicted by RICS towards the end of last year.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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What sort of article starts with "the good news is" with nothing before it, and no reference to bad news.0
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In the area that I rent out property i.e. Battersea SW11 I have noticed rents have picked up againChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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In other news.
'Going to see a football match is bwrilliant' says footballers.0 -
No rent increase for me in SW19.They are an EYESORES!!!!0
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HAMISH_MCTAVISH wrote: »http://www.dailyexpress.co.uk/posts/view/161523/Supply-and-demand-boost-rents
As predicted by RICS towards the end of last year.
Purely anecdotal, but after three years of holding the rents on my properties, I'm considering a 9% and 6.67% increase on the in the summer.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Indeed it is good news. People selling rather than renting means more houses coming onto the sales market and lower prices. :beer:0
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And so the rich get richer, the poor get poorer... all under the glorious Labour Party.
One day there will be an uprising. Wonder how soon?Long live the faces of t'wunty.0 -
One reluctant landlord sells. Rental stock reduces by one. Number of potential tenants reduces by one. No change to supply/demand ratio.
Builders stop building houses. Population continues to rise. Supply/demand ratio changes.
It ain't rocking horse science.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
THE good news is also that petrol price, food prices and everything else is rising.
I love all the price rise, it makes me feel all warm inside.
It's getting more expensive to live everyday and I am loving it.
I am looking forward to pay £2 for a loaf of bread. Brilliant. :jMore bearish than bullish at the moment0 -
Out,_Vile_Jelly wrote: »No rent increase for me in SW19.
The rents are merely recovering to previous levels, I will not be raising the rents to tenants who did not ask for a rent reduction, but I will to those who asked for and got a rent reduction and those who started a new tenancy where I reduced the rent from previous levels.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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