London rents set to rise almost 20% - Khan

Newnoel

woahsoah said:

Simple supply and demand. Landlords like myself are cashing out reducing the supply (there is no 1 to 1 mapping between renters and buyers), mostly due to house prices and an increasing tax burden on landlords.

Very true. With a drop off in supply due to punitive taxes on landlords, and students and workers returning to London, a strong uptick in rents and property values looks very likely.

macman

woahsoah said:

Simple supply and demand. Landlords like myself are cashing out reducing the supply (there is no 1 to 1 mapping between renters and buyers), mostly due to house prices and an increasing tax burden on landlords.

But who is buying from all these BTL'rs who are cashing out? Surely many of the buyers will be other more optimistic BTL'rs, or multi-property LL's who operate their businesses more efficiently and can still see an acceptable rate of return being achievable in future?
Or are you suggesting that all the buyers are going to be owner-occupiers?

TonyMMM

My son moved  back home and out of London at the beginning of the first lockdown  - the flat he was renting/sharing is currently being advertised for rent at 28% less than he was paying 18months ago.

 It is one of four flats in a converted house in a very good area - three of the four flats are currently empty and available ( they were all occupied when he was there).. the other is owner occupied (and for sale).

Crashy_Time

TonyMMM said:

My son moved  back home and out of London at the beginning of the first lockdown  - the flat he was renting/sharing is currently being advertised for rent at 28% less than he was paying 18months ago.

 It is one of four flats in a converted house in a very good area - three of the four flats are currently empty and available ( they were all occupied when he was there).. the other is owner occupied (and for sale).

Excellent news for London money savers!

Crashy_Time

Newnoel said:

woahsoah said:

Simple supply and demand. Landlords like myself are cashing out reducing the supply (there is no 1 to 1 mapping between renters and buyers), mostly due to house prices and an increasing tax burden on landlords.

Very true. With a drop off in supply due to punitive taxes on landlords, and students and workers returning to London, a strong uptick in rents and property values looks very likely.

Latest Covid data says no.

[Deleted User]

The students will always come to London, but they are skint. What matters is the middle class families and couples, who are going mostly, not coming and not staying for as long. 

LookingForLondon

Central London flats will do just fine because there will always be people wanting to be there and the number of properties is limited. Flats a bit further out with a couple of night buses home might struggle. 

Also professionals in london have been doing well over the past year - loads of work, very little expense. There’s a tonne of money sloshing about.