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MSE News: Rents are back on the rise
Comments
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The reason rents are rising is because there's a shortage of housing.
Even the London councils have now admitted defeat, they know full well the benefit cuts won't reduce rents, so are now planning to send claimants to live in Hull instead.
https://forums.moneysavingexpert.com/discussion/3804003“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 -
HAMISH_MCTAVISH wrote: »The reason rents are rising is because there's a shortage of housing.
Even the London councils have now admitted defeat, they know full well the benefit cuts won't reduce rents, so are now planning to send claimants to live in Hull instead.
https://forums.moneysavingexpert.com/discussion/3804003
As a resident of East Yorks I'm quite looking forward to this. As daft as it sounds it will increase trade in the area.0 -
0.1%? Is that even a story?0
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I find the 0.1% rise in rents a little hard to believe. It seems very light
I have a number of BTLs in South and West London, and the rents in all properties have risen between 5-10% in each of the past two years. I intend to put the rents up a similar amount again this year.0 -
HAMISH_MCTAVISH wrote: »Rents are rising and will continue to rise as the housing shortage worsens and mortgage rationing forces the young to enrich their landlords instead of themselves.
Sadly, this is very true
The only way rents will fall is when banks start lending to FTBs, and allow them to buy the property they have always wanted.
The inevitable consequnece of this, though, is that house prices will rise.0 -
edinburgher wrote: »0.1%? Is that even a story?
That's 4.3% in the last year, which is higher than both RPI and CPI, and more than double the rate of wage inflation.
So yes, I'd say it is well worth reporting on.“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 -
That's 4.3% in the last year, which is higher than both RPI and CPI, and more than double the rate of wage inflation.
So yes, I'd say it is well worth reporting on.
?? Ok so YOY is 4.3%, but 0.1% is a very small part of that...0 -
edinburgher wrote: »?? Ok so YOY is 4.3%, but 0.1% is a very small part of that...
You have to look behind the numbers.
--The year on year increase is above both inflation and wage increases.
--Rents should be falling month on month at this time of year, so to have them rise, even a little, is remarkable.
Look at the wider picture, a weakening economy, rising unemployment, etc.....
That rents are rising at all, let alone at double the rate of wage inflation, by more than both RPI and CPI, and in the middle of winter when they should be falling, is a testament to how critical the housing shortage has become.“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 -
Rents ALWAYS rise. They always have. Just check back 10/20 and 30 years ago to see how RENTS ALWAYS RISE! It's a fact of life, and anyone who denies it is an ostrich.0
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