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Rents soar to (another) record high
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HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.lslps.co.uk/documents/buy_to_let_index_jul15.pdfRents rise above £800 for first time on record
Record surge in month-on-month increases takes average rent to new peak across England and Wales
Rents hit highest levels since 2009 in Yorkshire & the Humber, East and West Midlands, and London
Proportion of rent in arrears improves to 8.4% in July, down from 8.6% in June
"We’re faced with a real problem – homes have become a scarce commodity.
As house prices and mortgage deposits continue to eat up a larger and larger proportion of wages, appetite for rental properties has begun to outstrip the available stock."
“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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Only a few months ago I put up my rents to get nearer the market value, but after a comment from my wife last week, I looked around and it looks like I'm further below the market than I thought I would be.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
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Over on the forum hpc.co.uk they are pretty sanguine about this.
a) I don't believe VI indices
The further they rise the further they'll fall
c) The BTL sector is about to be devastated by tax changes, which will flood the market with flats and cause the biggest crash in history0 -
Rents are rising.0
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Neither do I.ruggedtoast wrote: »a) I don't believe VI indices
I only believe in Crashy's bedsit rental index ™ which has been flat since 1897.Don't blame me, I voted Remain.0 -
As much as I hate the idea, rents are rising a lot round our way. A 3 bed semi will cost you 12-1300 a month now
I really don't know how people afford it, no wonder retail is struggling0 -
As much as I hate the idea, rents are rising a lot round our way. A 3 bed semi will cost you 12-1300 a month now
It's just the inevitable consequence of a housing shortage.
One that has been made far, far worse thanks to mortgage rationing.“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 -
Sadly we only own 1 modest 2 bed flat that we rent out but have had to put the rent up this summer. Just £30 per month as were trying to stay competitive.0
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HAMISH_MCTAVISH wrote: »It's just the inevitable consequence of a housing shortage.
One that has been made far, far worse thanks to mortgage rationing.
mortgage availability is better than 3 years ago but the build rate isnt
how long before hamish building theory needs a revision ?0 -
Inner London is on fire
Flats that were getting 1800 two years ago are getting 2200+ now and they sit empty for just days
For cheap rents you need lots of empty homes. The uk and especially London does not have many/any empty homes. This will keep rents strong.
in the hotel trade the saying is, if your occupancy rate is 100% your not charging enough.0 -
mortgage availability is better than 3 years ago but the build rate isnt
Ahem.
New builds...
Mortgages....
Both showing only small improvement over the last few years.
The correlation is remarkable.“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
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