Rent Price Crash

economic

i wonder what the impact on rents has been on the growth in websites like spareroom and airbnb?

i think spareroom surely must have impacted negatively on rental demand given its huge popularity. the opposite could be true for airbnb which would reduce the supply of btl.

LordSnoooty

This is interesting or should be to the people who think that there is no impact on rents with a movement between owner occupiers and rentals or vice versa

I can confirm on my patch rentals are down notably and voids are up due to a shift from owners to renters as the BTL group purchased a lot of property in the first quarter

So this should be clear evidence to those who think if BTL become net sellers it wont impact rents because renters just buy the home. It should be obvious that if BTL shrinks rents will rise and voids will fall. Just like if BTL expands rents fall and voids increase (as is the case right now)

Of course normally the trend is slow so it does not show up so clearly but its clear right now in the market for all to see. 'Thanks' Osborne its normally hard to prove economic theories as we cant run experiments in the economy and this was an experiment and the proof is right there.[/QUOTE]


What is a "void"?

lisyloo

Void = empty property I.e. Not earning any rent.

mwpt

LordSnoooty wrote: »

This is interesting or should be to the people who think that there is no impact on rents with a movement between owner occupiers and rentals or vice versa

I can confirm on my patch rentals are down notably and voids are up due to a shift from owners to renters as the BTL group purchased a lot of property in the first quarter

So this should be clear evidence to those who think if BTL become net sellers it wont impact rents because renters just buy the home. It should be obvious that if BTL shrinks rents will rise and voids will fall. Just like if BTL expands rents fall and voids increase (as is the case right now)

Of course normally the trend is slow so it does not show up so clearly but its clear right now in the market for all to see. 'Thanks' Osborne its normally hard to prove economic theories as we cant run experiments in the economy and this was an experiment and the proof is right there.


What is a "void"?

Oh look, another landlord pretending he isn't. Welcome to the forum.

caronoel

One of my own tenants in Clapham gave notice last month.

I took a cheeky punt to put the rent up 20%. Rented at full asking within 4 days. Just waiting on references, deposits, etc

Not much of a Rent Price crash round my way

westernpromise

caronoel wrote: »

One of my own tenants in Clapham gave notice last month.

I took a cheeky punt to put the rent up 20%. Rented at full asking within 4 days. Just waiting on references, deposits, etc

Not much of a Rent Price crash round my way

But Crashy's rent is £400, so ner.

caronoel

westernpromise wrote: »

But Crashy's rent is £400, so ner.

Good point, and it hasn't moved in 17 years.

MiserlyMartin

caronoel wrote: »

One of my own tenants in Clapham gave notice last month.

I took a cheeky punt to put the rent up 20%. Rented at full asking within 4 days. Just waiting on references, deposits, etc

Not much of a Rent Price crash round my way

Congratulations