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Debate House Prices
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Rents falling again
macaque_2
Posts: 2,439 Forumite
We have heard a lot of noise and spin about rising rents lately, so this little item came as a complete surprise:
London rents tumbled by 2.3% in a month (or 27.6% a year)!
Is this a blib or a sea change? I can already the howls from owners of dingy sheds in London suburbs
"£5k a month? Only £5k a month! I'm not renting out for free you know!"
According to the British Property Federation, rents fell in December for the first time in 11 months. Prices fell fastest in Wales (down 2.6%) whilst London saw a drop of 2.3%, and the West Midlands of 2.2%.
http://www.walletpop.co.uk/2011/01/24/how-to-avoid-being-ripped-off-as-a-tenant/
London rents tumbled by 2.3% in a month (or 27.6% a year)!
Is this a blib or a sea change? I can already the howls from owners of dingy sheds in London suburbs
"£5k a month? Only £5k a month! I'm not renting out for free you know!"
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Comments
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Latest Lsl rent index showed rents dipping in dec.
But they tend to dip every year around this time.
Any sustained fall in rents would be bad news for the bears, as it would mean increasing rental supply, and as happened last time decreasing supply for sale. We saw the results of that in 2009...“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”0 -
Interesting, why do you think that is? Does this concern any of the BTLs?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Interesting, why do you think that is? Does this concern any of the BTLs?
Rent increases have been lagging behind inflation all year at least (I've not followed prior to that) and from memory at least, rents have risen appreciably more slowly than house prices for many years according to the Government inflation statistics at least.
I suspect a big fall like this is a blip as a rapid shift in a stat like this usually is (eg the big fall in the HBOS house price index earlier in the year). It may be that changes in housing benefit are having a larger impact than many predicted of course.
Time, as ever, will tell.0 -
We have heard a lot of noise and spin about rising rents lately, so this little item came as a complete surprise:
London rents tumbled by 2.3% in a month (or 27.6% a year)!
Is this a blib or a sea change? I can already the howls from owners of dingy sheds in London suburbs
"£5k a month? Only £5k a month! I'm not renting out for free you know!"
Already been discussed
https://forums.moneysavingexpert.com/discussion/3002268Rents fell in December but expected to climb again
Or are you trying to put another slant on it?
[note to mods]
can you merge this thread with the MSE linked thread above?
[/note to mods]:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Are more people house sharing or moving back home? That could contribute.0
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We have heard a lot of noise and spin about rising rents lately, so this little item came as a complete surprise:
London rents tumbled by 2.3% in a month (or 27.6% a year)!
Is this a blib or a sea change? I can already the howls from owners of dingy sheds in London suburbs
"£5k a month? Only £5k a month! I'm not renting out for free you know!"
I'm surprised personally - I put the rent up by 8% last month.
Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger0 -
HAMISH_MCTAVISH wrote: »Latest Lsl rent index showed rents dipping in dec.
But they tend to dip every year around this time.
Any sustained fall in rents would be bad news for the bears, as it would mean increasing rental supply, and as happened last time decreasing supply for sale. We saw the results of that in 2009...
What?
So less people renting = house prices up.
Less people selling = house prices up.
More people renting = house prices up.
How on earth do house prices actually fall in your theory bank?0 -
and don't forget:
less people buying=house prices up!
:rotfl:Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Graham_Devon wrote: »What?
So less people renting = house prices up.
Less people selling = house prices up.
More people renting = house prices up.
How on earth do house prices actually fall in your theory bank?
Does not compute ! Does not compute !30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
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