UK Rents "highest in Europe"-- due to mortgage rationing

HAMISH_MCTAVISH

UK room rents 'highest in Europe'

Source PA News
Updated on 28 June 2010



UK tenants face the highest rents in western Europe, new research shows.

It costs an average of £348 a month to rent a room in a shared property in the UK, 75% more than in Spain, where rents average just £199 a month, according to flatshare website Easyroommate.co.uk.

France was the second most expensive country in which to rent a room, but at an average of £285 a month rents were still considerably cheaper than in the UK, while in Italy they averaged £282 a month.

The group blamed the high cost of renting a room in the UK on the lack of mortgage finance currently available, which it said was forcing potential first-time buyers to continue renting, driving up demand.

http://www.channel4.com/news/articles/business_money/uk+room+rents+highest+in+europe/3694002

Poor crashaholics just can't catch a break these days.

More unintended (although entirely predictable) consequences.....:cool:

boomerangs

HAMISH_MCTAVISH wrote: »

Poor crashaholics just can't catch a break these days.

.....:cool:

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vaporate

Why am I not surprised?

carolt

How shameful.

Thanks for making the point so eloquently, Hamish, that it is clearly time to bring back rent controls.

PasturesNew

Rents have been unaffordable for many singles in many areas for many years. It sucks....

House prices need to come down.
Rents need to come down.

Let's all find our wages can be used to buy things/do stuff, generating more jobs instead of it all disappearing into a black hole.

carolt

But we can't have that, PN, because then the lazy parasite landlord class would have to actually earn and save towards their pensions like the rest of us. :mad:

nearlynew

Are you suggesting that this is a good thing McTittish?


If so, you are a very silly boy.

marklv

HAMISH_MCTAVISH wrote: »

http://www.channel4.com/news/articles/business_money/uk+room+rents+highest+in+europe/3694002

Poor crashaholics just can't catch a break these days.

More unintended (although entirely predictable) consequences.....:cool:

This is hardly 'news'. Rents have been high in the UK since I can remember - and tenants have little security or rights. It's all to do with rents needing to cover the mortgages that landlords have on rented out properties.

Malcolm.

HAMISH_MCTAVISH wrote: »

http://www.channel4.com/news/articles/business_money/uk+room+rents+highest+in+europe/3694002

Poor crashaholics just can't catch a break these days.

More unintended (although entirely predictable) consequences.....:cool:

The bigger they are the harder they fall.

If rental prices are high and economic fundamentals poor, this favours the crashahololic argument, Shirley!?

HAMISH_MCTAVISH

marklv wrote: »

It's all to do with rents needing to cover the mortgages that landlords have on rented out properties.

Less than half of landlords have any mortgage at all. And of those that do, most are far smaller than the rent.

As always, it's all about supply and demand.

brit1234

"House prices are going to rocket"

Hamish
House Price Information Minster