Good news for tenants RENTS FALLING

chucknorris

economic wrote: »

the thing about rental figures/data is that many properties have landlords who dont raise rents in line with market levels (at a level where it would clear). this understates the numbers.

This is a very valid point, which is probably not fully appreciated.

economic

chucknorris wrote: »

This is a very valid point, which is probably not fully appreciated.

i know a few landlords who do this. to keep the good tenants. its a lot of hassle to find new tenants if the existing ones dont like to the increase in rent. its usually better to agree less rent with a good long lasting tenant then higher rent with a careless/non-trustworthy tenant who wont stay long.

chucknorris

economic wrote: »

i know a few landlords who do this. to keep the good tenants. its a lot of hassle to find new tenants if the existing ones dont like to the increase in rent. its usually better to agree less rent with a good long lasting tenant then higher rent with a careless/non-trustworthy tenant who wont stay long.

We do that all the time.

Electrum

It is what it is, if its because landlords are too frightened or not, the facts are rents are falling.

Conrad

Do we know whether HMO's are on the increase, as this could make rental figures appear lower?


And note there are plenty of non official HMO's out there, and often the Landlords insist on cash rentals only to avoid tax.

westernpromise

Electrum wrote: »

It is what it is, if its because landlords are too frightened or not, the facts are rents are falling.

Why are you insisting on this when you've been shown the opposite?

AG47

So year on year Feb to Feb are the hose numbers wrong? If they are what are the correct numbers?

The numbers are correct, that rents are falling in London and the south east,

ukcarper

AG47 wrote: »

So year on year Feb to Feb are the hose numbers wrong? If they are what are the correct numbers?

The numbers are correct, that rents are falling in London and the south east,

Who knows they are just the figures of one estate agent so we will have to see what is happing in the wider market when ONS release them.

Do you know what countrywide figures were for Jan to Jan .

westernpromise

Rents are still rising in the year to February, according to the ONS:

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/indexofprivatehousingrentalprices/feb2017

1. Main points

• Private rental prices paid by tenants in Great Britain rose by 2.1% in the 12 months to February 2017; this is down from 2.2% in January 2017.
• In England, private rental prices grew by 2.3%, Wales saw growth of 0.5% while Scotland saw zero growth in the 12 months to February 2017.
• London private rental prices grew by 1.9% in the 12 months to February 2017, which is 0.2 percentage points below the Great Britain 12-month growth rate.

Rents aren't falling anywhere in the country. Not even in Scawtlun.

Broadly speaking, if Moneyweek says one thing and somebody else says the opposite, it's Moneyweek that's wrong.

The-Joker

Electrum wrote: »

Good news for hard-pressed, hard-working, would-be first-time buyers – last month, rents in the UK were down year-on-year.

Well, not strictly across the UK. The average figure fell, but it was dragged down entirely by figures for London and southeast England.

Still, it’s a momentous occasion. Rents in the UK haven’t fallen on this basis since November 2010, according to Countrywide, Britain’s biggest estate and lettings agency.

So what’s going on? And does this signal some sort of turning point for the UK’s mad property market?

http://moneyweek.com/property-market-rents-falling-bad-news-for-landlords-is-just-beginning/

Its too early to say rents ARE falling, but its true to say they were falling in London.

Time will tell if the trend continues.