Prime London rents in negative territory

brit1234

Prime London rents in negative territory for first time in 2 years‏

Annual prime London rental growth has slipped back into negative territory for the first time in two years, says Savills.

Prime central London values remained flat over the past three months, while values are down -0.5 per cent year-on-year.

Average rents across prime central London now range from £91 per square foot for the top quartile of rental properties, to just £41 per square foot for the bottom quartile.

Full story below:

http://www.planetpropertyblog.co.uk/2012/07/02/prime-london-rents-in-negative-territory-for-first-time-in-2-years%E2%80%8F/

More evidence things are looking shaky in the London property market.

joe_blotts

Didn't Hamish say on another thread they are up 7.7% YOY? or is there a difference between rental property and ordinary houses?

the_flying_pig

every time i see it the way the stupidity of the way that these pwoperdee companies call inflation 'growth', er, smacks me round the face like, well, a wet fish or whatever the expression is.

reminds me a little bit of orwell's nineteen eighty four, where the 'ministry of peace' is in charge of all the wars.

moneyinmypocket

This is more britaganda - just but a house and get over it

brit1234

joe_blotts wrote: »

Didn't Hamish say on another thread they are up 7.7% YOY? or is there a difference between rental property and ordinary houses?

On the other thread we are talking about falling house prices in the South, on this one we are talking about falling rents in London.

Hamish is just trying to deflect from the falling market with figures he chooses to distract attention which are not relevant/timely.

Mr._Pricklepants

Eikcos wrote: »

What is the reason for the falling rents in London? I understand housing benefit will be cut right back and many will be forced to move to cheaper properties. But if rents are falling before these cuts come in it could be worrying.

Very worrying indeed.
Add to that clearing out repossesions and interest rates back to normal (you know, the usual twaddle from your other sockies).

the_flying_pig

Eikcos wrote: »

What is the reason for the falling rents in London? ...

well, -0.5% is a miniscule fall.

i guess that, well, jobs & wages haven't gone up very much in that period, whilst various elements of the cost of living have. not the most fertile ground for rents to 'soar'.

brit1234

Mr._Pricklepants wrote: »

Very worrying indeed.
Add to that clearing out repossesions and interest rates back to normal (you know, the usual twaddle from your other sockies).

Coming from a sock puppet yourself, thats rich.

I guess things are getting harder for people, the rising cost of living with wage freezes is most likely contributing.

chucknorris

brit1234 wrote: »

Coming from a sock puppet yourself, thats rich.

I guess things are getting harder for people, the rising cost of living with wage freezes is most likely contributing.

Not for everone Brit, the savings from being on low margin tracker mortgages dwarfs the comparative insignificance of inflation and low salary rises for me, and probably a lot of others too.

brit1234

chucknorris wrote: »

Not for everone Brit, the savings from being on low margin tracker mortgages dwarfs the comparative insignificance of inflation and low salary rises for me, and probably a lot of others too.

Easy answer then, you wouldn't be renting then would you?

:rotfl:

Its a shame these mortgage rates haven't been passed down from landlords to tenants, stinks of greed.

chucknorris

brit1234 wrote: »

Easy answer then, you wouldn't be renting then would you?

:rotfl:

Its a shame these mortgage rates haven't been passed down from landlords to tenants, stinks of greed.

Why should it be passed down? Your post stinks of lack of intelligence, what an idiotic statement!

Investing in property is (with most forms of investment) risky so when it goes well you reap the rewards and when it goes badly you take the losses.

It is actually you who is being greedy by expecting some of the gain without taking on some of the financial risk, now that is greed!