Rents essentially unchanged since august 2008.

geneer

Excellent news for renters.
According to LSL property services rents have risen by only a few quid in the last few years.

Appying the Bullish principle of selecting two arbitrary points and ignoring everything thats happened inbetween, we can safely conclude the rents have not only stagnated, but seen significant real term falls.

IveSeenTheLight

geneer wrote: »

Excellent news for renters.
According to LSL property services rents have risen by only a few quid in the last few years.

Appying the Bullish principle of selecting two arbitrary points and ignoring everything thats happened inbetween, we can safely conclude the rents have not only stagnated, but seen significant real term falls.

It would be nice to link a source.

Anecdotal I know, but I increased the rent on one of my properties by 6.66%, certainly not a real term fall.

On saying that, I have had tenants in one of my properties for almost 5 years now and as they are good tenants, looking after my property, paying always on time, i have kept their rent frozen.

You could see that as a real term fall, but given that in the same time, the mortgage interest rate has decreased, I'm am still up nominally in profit.

auroan

!!!!!!. Please explain then why the property I'm leaving which was costing me £675 a month is now up for rent for £750 and has a new tenent lined up ? This is the same for prices across York.

IveSeenTheLight

auroan wrote: »

!!!!!!. Please explain then why the property I'm leaving which was costing me £675 a month is now up for rent for £750 and has a new tenent lined up ? This is the same for prices across York.

It's a sign of increased demand.

Statistices can show that the population is increasing, with the number of properties not increasing at the same rate.

this leads to either: -
1) Increases in the number of people sharing property
2) Increased demand and therefore people willing to pay more to beat the competition to secure

Incidently, where have you moved to? Another rental, purchase or moved in with others

Blacklight

In real terms...

auroan

IveSeenTheLight wrote: »

It's a sign of increased demand.

Statistices can show that the population is increasing, with the number of properties not increasing at the same rate.

this leads to either: -
1) Increases in the number of people sharing property
2) Increased demand and therefore people willing to pay more to beat the competition to secure

Incidently, where have you moved to? Another rental, purchase or moved in with others

I'm aware of the reasons. More the fact that the original OP posting seems totally out of wack for my area of the country

abaxas

/me looks at the house opposite.

Priced too high as a rental so has sat empty for 4 months.

geneer

IveSeenTheLight wrote: »

It would be nice to link a source.

Well I'm glad you asked lite.
Transpires its the same source thats been sput quite another way on another, more gloating, thread.


So, rents stagnating for 3 years. According to LSL Property services.

http://www.lslps.co.uk/documents/buy_to_let_index_jul11.pdf

Though in nominal terms they've increased by a whopping £20 quid.

nollag2006

I've had good tenants in my properties since May '09, so havent put the rent up. One of them gave notice a few months back, and the new tenants didn't bat an eyelid at an almost 20% rise.

Sign of the times, I suppose.

Still, add that to the healthy little capital gain since purchase and its been a very lucrative couple of years

Turnbull2000

Looks like rents have recovered from their recession induced fall and now rising strongly. We also have a lot more renters than we did in 2008, so there's further upward pressure.

geneer

nollag2006 wrote: »

I've had good tenants in my properties since May '09, so havent put the rent up. One of them gave notice a few months back, and the new tenants didn't bat an eyelid at an almost 20% rise.

Sign of the times, I suppose.

Still, add that to the healthy little capital gain since purchase and its been a very lucrative couple of years

Maybe cause they were paying the same 3 years ago?

One wonders how the new tenants would know it was a 20% rise.