Rents on the Up - The Times

Bishop87

It's probably just more eye grabbing headlines, yesterday it's 63% drop in houses, now it's rent going up, tomorrow it'll be aliens have arrived.

I couldn't decide which has more truth in it...Alien, crash then rent...yep.

Microstar_2

brit1234 wrote: »

Yes there are some increases but as an average rents are falling. There is an increase in rental demand but there is also more rental properties coming online all the time and lots of vacant newbuild flats in city centers.

Remember Paragons former company went bankrupt in the last crash.

There are some quite decent newbuild flats in Leicester recently dropped from £495 to £395 p/m. Like a lot of towns, there is major oversupply and large numbers are lying empty, either unsold or unlet. There is absolutely no shortage of apartment-type accommodation in most cities away from the SE. Larger family houses (i.e. 3 or more b/room) probably scarcer, but no drastic undersupply.

Snooze

Microstar wrote: »

There are some quite decent newbuild flats in Leicester recently dropped from £495 to £395 p/m. Like a lot of towns, there is major oversupply and large numbers are lying empty, either unsold or unlet. There is absolutely no shortage of apartment-type accommodation in most cities away from the SE. Larger family houses (i.e. 3 or more b/room) probably scarcer, but no drastic undersupply.

It's in Leicester - that's the problem there. The place is an immigrant-ridden $hithole.

Rob

MissMoneypenny

m00m00 wrote: »

Paragon say one thing

Property Bee says another

Property Bee and ARLA say another.

Geenie

Microstar wrote: »

Rental market has not really strengthened in the Midlands. I am asking about a 3-5% increase and that is merely to cover my increased costs, no actual net gain to me. I think some rent increase is to be expected against the current background of inflation. Remember that general running costs and maintenance costs are rising for OO's too.
No idea of the London, and SE market, maybe a lot stronger?

Not sure it is much better in London. Have a friend, the chuck money around, 5 holidays a year city type who liked to impress big time....country shoot anyone?

Bought a very large house in Dulwich a year ago and spent bucket loads doing it up to impress the neighbours with expensive interior. Planned to move into it this March and then sell their smaller one in same area also.

The !!!!! has hit the fan big time. Can't sell old house and now having to accept a dire rental for first whilst paying the mortgage on new one. And this is a posh, private school area with loaded people supposedly!!

fc123

Geenie wrote: »

. And this is a posh, private school area with loaded people supposedly!!

Who are all strapped as they're paying out on school fees. Often, these areas have less spare cash floating around in them than people think.
Bridging loans were the downfall of many in '88 / '90.

SouthCoast

He's actually sorted for a place now - a flat in a recently converted mansion up near Rawdon (very nice area) in private grounds for £350/month, free internet and council tax paid.

Be aware that if a cash strapped landlord does not pay the council tax your friend will be liable.

Have seen it happen with landlords who have gone bankrupt.

Microstar_2

Snooze wrote: »

It's in Leicester - that's the problem there. The place is an immigrant-ridden $hithole.

Rob

Indeed. As are most major UK cities. Don't live there myself, thank goodness.

neverdespairgirl

Looks to me like a vested-interest propoganda press release. "according to research from Paragon, a buy-to-let mortgage lender...."

In central London, rents aren't going up, even in line with inflation, according to Property Bee.

neverdespairgirl

fc123 wrote: »

Who are all strapped as they're paying out on school fees. Often, these areas have less spare cash floating around in them than people think.
Bridging loans were the downfall of many in '88 / '90.

Dulwich is where I went to school - achingly respectable, dull-as-ditchwater (-: