Rents going up: another westernpromise prediction comes true

Cakeguts

Herzlos wrote: »

Or will just never earn enough to buy.

Yes and then are unable to move to get a better paid job because there won't be anywhere for them to live.



At the moment people can take jobs in London because they can rent a property. If these changes to s21 and 3 year tenancies come in they won't be able to and not only that but people who are already renting will be unable to move because there won't be anywhere to move to.

Crashy_Time

Cakeguts wrote: »

Of course if there is an introduction of 3 year tenancies and the removal of no fault s 21 rents will go up a lot as the number of properties available to rent will fall. With fewer properties to rent people will not be able to move to get a job.



People won't be able to come from the EU or anywhere else to work in the NHS because there won't be anywhere for them to live. The only reason why there is so much rental property available at the moment is because of the shorter tenancies and the no fault s21. Making these two changes will mean that the numbers of rental properties will fall and the homes of people working abroad or just away will remain vacant. They won't be able to let them in case they can't get them back when they need to move back in.



Having fewer rental properties won't mean that more people will buy. There is a fair percentage of the population who don't want to save for a deposit they want to spend what they earn on things they can see rather than tie it up in a house.

Nah, tenants will be able to terminate earlier, and this will be watered down with landlords able to terminate earlier as well IMO. JC is a real threat now, the government have to make noises about the housing "crisis" or they are toast (in fact they are toast anyway because of their handling of Brexit IMO) The reason there are so many properties to rent is because millions believed the spiel about ever increasing yields :rotfl: The bankers must be laughing their tats off (well until it all collapses again that is ) Many people can`t afford to leave a house vacant while they buy another one or move for work, these people are going to be forced to drop their price to sell or just get someone in on the QT, at a reduced rent of course.

Crashy_Time

Cakeguts wrote: »

Yes and then are unable to move to get a better paid job because there won't be anywhere for them to live.



At the moment people can take jobs in London because they can rent a property. If these changes to s21 and 3 year tenancies come in they won't be able to and not only that but people who are already renting will be unable to move because there won't be anywhere to move to.

No, at the moment people can`t afford to live/work in London because rents/prices are too high, a rent/price crash will be an economic boost to many people, and a boost to the general economy as people have more free cash each month. If there genuinely was "No where to move to" we will have Nigel Farage as PM, but in reality there will be a lot less people wanting/allowed to come here after Brexit IMO, and there never really has been a shortage of property, just a shortage of property at sensible prices.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

No, at the moment people can`t afford to live/work in London because rents/prices are too high, a rent/price crash will be an economic boost to many people, and a boost to the general economy as people have more free cash each month. If there genuinely was "No where to move to" we will have Nigel Farage as PM, but in reality there will be a lot less people wanting/allowed to come here after Brexit IMO, and there never really has been a shortage of property, just a shortage of property at sensible prices.

I'd say property is sensibly priced everywhere except SE / London. So I doubt any crash will happen nationally, if it does I'll be buying more property, which in turn will increase property prices again in the future. Fingers crossed for a crash.

westernpromise

If there's a shortage of property anywhere, its price is going to go as high as the local market will stand.

In Edinburgh this is fourpence ha'penny, because nobody has a bean. In London it's half a million quid for 2 bedrooms. So it goes.