Rents falling again

Pete111

Damaged wrote: »

depending on your tenants and whether this is a new tenancy, I think it would be mad to increase the rent in this market. When my AST runs out with my tenants will be getting a discount of about £50 pcm. (600 per year)

They have been wonderful tenants and I'm going with the theory of golden handcuffs, in so far as the rent they pay is such a good deal they would be silly to move. The £600 works out to halve of the agents finders fee for a new tenacny so even if I am losing I am still winning in the scheme of things.

New tenant - They were happy with the deal as rents in London apparently rose quickly in 2010.

I do agree however, losing good tenants over a few quid is unwise.

Still - happy days!

Cleaver

smeagold wrote: »

seeing as this forum is called The Debate House Prices & the Economy Board One would expect to see people from 2 opposing sides debating those very things. What we're you expecting to find? The hanging gardens of babylon, or perhaps herds of buffalo sweeping majestically over the horizon?

Just my personal point of view, but I think this board would be a more interesting place if it represented the way people are in real life. In the real world I have never, ever come accross people with such unshakable, unchanging views as you find on here. Of course there will be people on here who think (or want) house prices will go up and other that think (or want) house prices to go down, but you get the distinct the impression that the majority of people on here that are in one of these camps are there for life. Nothing will ever change them. You, for example. Will you ever come on and post that you have doubts about gold? No, of course not. You're obsessed with it and will only ever be positive about it. The way in which people in the two camps on here debate and their general language tells the reader that their views are completely entrenched and nothing will change that. Graham started off this discussion by stating that Hamish could see any article about property and would imediately conclude that it meant houses prices going up no matter what the content, and he's is right to stay this. There's plently of people on the 'bearish' side (Brit?) who could see a house price graph with six months of rises and still somehow conclude they were falling. It's maddening and all a little bit strange.

In summary, how often do you see people on here say things like "y'know what, I was wrong on that one." Or, "you know what, I've got a hunch that gold will rise, but I'm not 100% sure. Or, "my feeling is prices will fall, but what do I know?". Hardly ever. This forum has become two entrenched sides just yelling at each other, and the word debate should be taken out of the title really.

Add to all this Sibley's ramblings, the fact that about half the posts are by THE_ONES_WHO_WRITE_IN_CAPITAL_LETTERS and the other half about how great gold is and it means that this place is a waste of space at the moment. Apologies to the few decent, balanced posters out there (of which there are a few), but most of the decent posters only write on the 'nice people' thread nowadays and hardly bother with the rest of the stuff.

Blimey, what a rant. I'll take a breather for a while.

MissMoneypenny

Generali wrote: »

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.

The first of the many changes with rent payments (LHA), don't start until April.

nembot

To be fair to Hamish, moved to another rented property in December and managed to get a reduction on advertised rent.

stevsand

THE_GHOULS_ARE_FOOLS wrote: »

That's nothing. I put my rents up 15%. It's never been a better time to be a landlord.

People do think being a landlord is all pink champagne , fine dining, nightclubbing, fast cars and loose women. Well admittedly it is all those things and alot more. But the best thing is, the renters are paying for it, happy days.

Your type will make it even funnier when it happens:rotfl:

Generali

MissMoneypenny wrote: »

The first of the many changes with rent payments (LHA), don't start until April.

Generally you sign up to a contract for a fixed period of at least 6 months. If you know your LHA is being cut in 3 months it would make sense to change before you have a problem rather than afterwards.

[Deleted User]

smeagold wrote: »

Interesting, why do you think that is? Does this concern any of the BTLs?

Doesn't concern me. Generally I ignore December figures due to the Christmas effect. My general opinion on the market is as follows:

It seems to me during a housing boom the rents increase at a lower rate as more people are buying. Durig the height of the boom yields were very low.

Since the credit crunch this has been reversed - the number of house purchases have dropped massively and the people who would be buying still have to live somewhere so there is more demand for rental accommodation and this is driving the prices upwards.

I think it takes a while for inflation to effect rents and would expect it to increase them in the near(ish) term and reduce them in the long term. The reason being that the rents will go up with inflation with a bit of a lag due to typical tenancy agreements being 6-12 months long. In the longer term inflation will make buying property more attractive/feasible and seems to be the weapon of choice for the politicians to tackle the nations debt problems and should slowly free up the credit markets.