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What is happening in the rental market?

Having bought a house, the rental property I'm currently in is on the market for new tenants. 

It's listed for hundreds more than I'm paying a month, and the number of viewings is just unreal. 

Is this typical? 
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Comments

  • Flugelhorn
    Flugelhorn Posts: 5,418
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    I think rental property is in huge demand - viewings get booked up very quickly 
  • Albermarle
    Albermarle Posts: 21,116
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    RHemmings said:
    Having bought a house, the rental property I'm currently in is on the market for new tenants. 

    It's listed for hundreds more than I'm paying a month, and the number of viewings is just unreal. 

    Is this typical? 
    The very high demand for rental property has been in the news for months/all last year.
    It is worse in some areas than others.
  • MikeJXE
    MikeJXE Posts: 3,029
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    East Midlands but more central

    2 bed flat this time last year was £625 now  £725 + 

    My 1 bed  I moved into last  February was £625 

    No increase yet 
  • Albermarle
    Albermarle Posts: 21,116
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    MikeJXE said:
    East Midlands but more central

    2 bed flat this time last year was £625 now  £725 + 

    My 1 bed  I moved into last  February was £625 

    No increase yet 
    A friend searched Reading area for 6 months before securing a property. One bed flat - £1050 per month + bills.
    One year rent up front.
  • Try getting a rental on near minimum wage! They won’t even consider you, even if you’ve been paying your rent on time and been no trouble for decades. And if you should expect anything, like repairs done then the rent goes up or you get a section 21. But you need to live somewhere and can’t afford to save for a deposit to try and buy. 
    But yeah, rampant house price inflation is a great thing 🙄
  • RHemmings
    RHemmings Posts: 3,150
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    RHemmings said:
    Having bought a house, the rental property I'm currently in is on the market for new tenants. 

    It's listed for hundreds more than I'm paying a month, and the number of viewings is just unreal. 

    Is this typical? 
    The very high demand for rental property has been in the news for months/all last year.
    It is worse in some areas than others.
    Yes, but I didn't expect it to be quite like this. 
  • oldernonethewiser
    oldernonethewiser Posts: 1,704
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    Supple and demand, lots of potential renters and too few properties available.

    Sad really.
    Things that are differerent: draw & drawer, brought & bought, loose & lose, dose & does, payed & paid


  • Alderbank
    Alderbank Posts: 2,696
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    Supple and demand, lots of potential renters and too few properties available.

    Rental properties now go so fast that you have to be agile as well as supple!
  • theartfullodger
    theartfullodger Posts: 14,368
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    Tory government: Largely don't care about those who rent.

    Others will hold alternative views.

    Best wishes to all.
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