Value of flats

TroubledTarts

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

ReadySteadyPop

TroubledTarts said:

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

Where do the 12 and 20 people live at the moment?

ReadySteadyPop

kiwi07 said:

Does anyone know how price of leasehold flats has risen for the last 15 years. Bought my 2 beds leasehold flat (has a garage) in 2009 for 120k so how much the price should have risen by now as the rent has almost doubled since that time? So the rent has doubled but the value of the flats isn't much really?  

In a nutshell rent is driven by wages and the value of your flat is driven by borrowing costs, two completely different things. Doubling rent isn`t sustainable and I don`t believe this is the picture across the UK, agents tend to exaggerate achievable rent to get landlords onto their books 

EssexHebridean

ReadySteadyPop said:

TroubledTarts said:

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

Where do the 12 and 20 people live at the moment?

With parents? With a partner they are splitting up with? In student accommodation? In temporary accommodation? In  a rental which they have to leave as the LL wants to sell?

Not sure what point you are trying to make here? 

TroubledTarts

EssexHebridean said:

ReadySteadyPop said:

TroubledTarts said:

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

Where do the 12 and 20 people live at the moment?

With parents? With a partner they are splitting up with? In student accommodation? In temporary accommodation? In  a rental which they have to leave as the LL wants to sell?

Not sure what point you are trying to make here? 

To add to this great reply

Also those stuck in temporary accomodation (estimated to be some 105,00 families) where there is a lack of available social housing. (We get regular calls from the local councils, well the 7 neighbouring, everytime a property is advertised as they have a book full of people in temporary accomodation)

The simple fact is the available properties for rent are not increasing and where they are they still are not increasing enough to meet the needs of the people needing accomodation.

The system is broke and this means one thing. Demand outstrips supply (back to my original statement)

ReadySteadyPop

TroubledTarts said:

EssexHebridean said:

ReadySteadyPop said:

TroubledTarts said:

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

Where do the 12 and 20 people live at the moment?

With parents? With a partner they are splitting up with? In student accommodation? In temporary accommodation? In  a rental which they have to leave as the LL wants to sell?

Not sure what point you are trying to make here? 

To add to this great reply

Also those stuck in temporary accomodation (estimated to be some 105,00 families) where there is a lack of available social housing. (We get regular calls from the local councils, well the 7 neighbouring, everytime a property is advertised as they have a book full of people in temporary accomodation)

The simple fact is the available properties for rent are not increasing and where they are they still are not increasing enough to meet the needs of the people needing accomodation.

The system is broke and this means one thing. Demand outstrips supply (back to my original statement)

I`m not convinced that it does to be honest.

https://landlordknowledge.co.uk/london-rents-drop-for-fourth-consecutive-quarter/

https://www.landlordtoday.co.uk/breaking-news/2025/01/income-crisis-for-landlords-as-rents-drop-for-fifth-successive-month/

 "December 2024 rental averages were a huge 19% lower than July 2024 rents."

ReadySteadyPop

EssexHebridean said:

ReadySteadyPop said:

TroubledTarts said:

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

Where do the 12 and 20 people live at the moment?

With parents? With a partner they are splitting up with? In student accommodation? In temporary accommodation? In  a rental which they have to leave as the LL wants to sell?

Not sure what point you are trying to make here? 

The point is that demand and rents are dropping, and none of these people will have to leave that situation immediately ( a court could make it hard for a landlord to sell if there are children in the house for example?) 

I was challenging the "not enough properties!" narrative that people keep churning out, what someone would like to be the case posted on a forum is one thing, what the actual experts on the front line of the housing market are saying is something else.

https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

In Wales, and now England if you leave your property untenanted there will be a nasty council tax surprise, this will encourage landlords to drop rents to avoid voids.

ReadySteadyPop

TroubledTarts said:

ReadySteadyPop said:

TroubledTarts said:

kiwi07 said:

TroubledTarts said:

Is this just a thread having a pop at Estate agents?

If so, just do your own research for what properties sell for in your area.

Even better market the property yourself you will potentially save thousands on Estate Agent fees as well as getting away from your "trust" issues.

As for your first post just because 10 years ago a property is worth £100,000 and rents out for £500 it doesn't mean if 10 years later when rent is £1000 that the property is worth £200,000. This is mainly due to the fact that the supply of rentals will have decreased so supply vs demand issue not a property price rise link.

That's not correct, supply of tenants has hugely increased, the flats are flying out even at increased rent rates. Not saying the price of flats has doubled for the last 15 years but surely not just had increase of 25% in value? The houses has doubled in price. So lets say, the house was bought for 150k, 15 years later its worth 300k, at the same time 100k flat only gone up to 125k? So 100% house increase versa only 25% for the flats?

Did you read what I said?

I said the amount of rentals (properties has decreased) so supply and demand meaning the supply is low/demand is high. As in lots of tenants and not many properties........

Flats are not as sought after as houses is the simple answer and they generally do not keep pace with house prices.

Stop talking generic and see what flats in your areas have sold for

https://www.zoopla.co.uk/house-prices/

Check for yourself if the estate agent is doing you a disservice then complain to them if you wish.

That sounds optimistic, as does the claim that rents have "doubled"?

 https://www.property118.com/no-need-for-rent-cap-as-scottish-rents-rise-slower-than-incomes-call/

"Zoopla noted that rent demand is falling across the UK with immigration falling for study and work, while first-time buyer demand has risen.

Available rental properties

Alongside this shift, Scotland has seen a boost in available rental properties, with a 29% rise in supply – the largest jump anywhere in the UK."

So much for the Great Landlord sell off that people were trumpeting about a few years ago?

It was an example to work from you silly sausage,, not an actual case study. It was just based on the OP's thoughts throughout this thread. To keep it simple easy figures were usedm

However

As a Landlady/Lord I can tell you in the East and South East there are still 20 people applying for every rental.

As another example. Flats we were renting our in 2015 commanded £475 are now command £800-£900. (And that's being kind as the affordability ceiling for the area is probably £1050+)

This bit might be interesting to the OP. Despite the rise in rents the market value has only increased by 20-25% in that same 10 year period.

Some takeaways from zoopla link below

12 renters chasing each home

The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth

https://www.zoopla.co.uk/discover/property-news/rental-market-report/

In simple terms it is only going to get worse. The lack of public available rental properties can no longer be supported by private landlords. The system is brokenm

People have been saying this for many years, but it seems to keep ticking over for some strange reason?

ReadySteadyPop

Veteransaver said:

kiwi07 said:

Green_hopeful said:

You could look at what other flats in your block or area are selling for. You could look on zoopla to see what they say. I don’t think they are very accurate but it might be ok on a flat if there are lots of similar ones. 

I got impression the agents are really undervaluing, saying there has only been 25% increase in value, really? So the rent has almost doubled but the value only increased by 25%? So it seems that the landlords have been ripping tenants off by getting it cheaply and making massive profit? 

Look at sold prices then of similar flats
Flats generally haven't been a great investment since the GFC and have underperformed houses, for many reasons but a lot is to do with massive over supply in many towns and cities.

London being a good example.