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Rents rising again....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
Private rents in England and Wales rose by 0.5% in April, according to letting agency group LSL Property Services.
That pushed the average rent up to £709 a month.
It was the first recorded increase for three months, and left rents 2.4% higher than a year ago.
David Newnes of LSL said the rental market had begun to "heat up" in April.
"As fewer tenants rushed to leave the sector, competition for rental accommodation intensified, and rents rose correspondingly," he said.
"Tenant demand will only strengthen, providing impetus for rental inflation in the long-term."
So after the temporary pause in rent increases, normal service has resumed.
A minor uptick in arrears of a few tenths of a percent, but still markedly lower than they were last year.
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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It's getting very interesting. The more rents rise, the cheaper it will become to buy than rent.HAMISH_MCTAVISH wrote: »So after the temporary pause in rent increases, normal service has resumed.
A minor uptick in arrears of a few tenths of a percent, but still markedly lower than they were last year.0 -
Is this signs of the UK becoming a renters market instead of ownership? BTL is still on the up, people are struggling to get mortgages, talk of more mortgage rate hikes is going to start crippling some mortgage holders, then there's the prospect of base rate rises
This could lead to better rental regulation, I imagine the situation will need to spiral out of control first, as usual in this country
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Never knew it was quite so low!The figures are gathered from the rents paid on 18,000 homes.
Admire your wording though Hamish!
Arrears going up just "a few tenths of a percent" but, the "few tenths of a percent" 0.5% is just described as "up"
Infact, rent arrears incresed 1.2%, not a "few tenths of a percent" (silly boy Hamish), from 8.7% to 9.9%. The physical amount of unpaid rent rose 14% to £306m, from £267m the previous month.0 -
If it makes you feel better, rents are rising in London quite considerably.Graham_Devon wrote: »Never knew it was quite so low!0 -
If it makes you feel better, rents are rising in London quite considerably.
I don't know about Graham but that certainly makes me feel better :beer:Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
You can't stop greed.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
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Greed is the market force.
Lets put it simply.
You buy a house to rent out.
You set a rental figure which clears costs and makes a small profit.
All sudden your costs drop due to low interest rates so profits are up.
So what is the reason to increase rent it costs have dropped?
Greed...Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Are they? I thought they were court orders that ordered repossessions not market forces.Graham_Devon wrote: »Well, reposessions are market forces.
Doesn't stop you calling those who talk of them being greedy, selfish people wanting families thrown to the streets.
It's quite sad that you want people and families with children evicted from their homes so that you can get a bigger house. It's disgusting actually.0
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