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A question re: the housing market....
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Something nobody has mentioned.... so prices slip, BTLs all start to sell, all the people who are renting start to compete for the same couple of properties that are left, rents go up maybe??
In the long run yes, but at the moment there is a glut of rental properties due to the proliferation of BTL, so in the next 2-3 years rents won't rise much. Just look at the vast swathes of vacant flats in Leeds, Manchester, Liverpool and most other big cities - they have to be occupied first before competition for rental places hots up and rents rise.
Eventually, as rents become more expensive and house prices (and therefore mortgages) become cheaper, balance will be restored and people will start to buy again. But we have a long, long way to go before that market correction is complete.poppy100
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