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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 21st Sep 12, 8:09 AM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Rents rise for fifth month in a row
    • #1
    • 21st Sep 12, 8:09 AM
    MSE News: Rents rise for fifth month in a row 21st Sep 12 at 8:09 AM
    "Typical monthly rents increased by 2.9% year-on-year to reach £734 in August, according to a lettings network ..."

Page 1
  • breadlinebetty
    • #2
    • 21st Sep 12, 8:37 AM
    • #2
    • 21st Sep 12, 8:37 AM
    This was a foregone conclusion.

    Whatever the economy people will always need somewhere to live, and if they can't buy (for whatever reason) then they have no choice but to rent. So the more renters chasing properties the more the rentals will increase. Supply and demand!
  • nollag2006
    • #3
    • 21st Sep 12, 9:14 AM
    • #3
    • 21st Sep 12, 9:14 AM
    Rents are likely to keep rising until the banks start to resume mortgage lending. Would be FTBs are trapped in rental.
    • Pincher
    • By Pincher 21st Sep 12, 10:45 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #4
    • 21st Sep 12, 10:45 AM
    • #4
    • 21st Sep 12, 10:45 AM
    Rents are likely to keep rising until the banks start to resume mortgage lending. Would be FTBs are trapped in rental.
    Originally posted by nollag2006
    Or the landlords start putting in double bunks and charge per bed,
    instead of per room.

    On the Trans Siberian railway, a six berth cabin has triple bunks on each side.

    Green Tortoise, based in San Francisco, has converted Greyhound buses that has fold down planks so you get three levels that accommodates 30. It's a mobile hostel with two drivers, so you get to the next destination while you sleep.
    • squeeks
    • By squeeks 21st Sep 12, 11:26 AM
    • 299 Posts
    • 228 Thanks
    squeeks
    • #5
    • 21st Sep 12, 11:26 AM
    • #5
    • 21st Sep 12, 11:26 AM
    I'd be more interested in seeing a breakdown of the figures to get a better view of whats going on.

    Break down by area and property type/size would be great.

    If the majority of rented properties a year ago were 1-2 bed flats, and now they are 3 - 4 bed houses, I would be shocked if the average hadn't gone up....
  • Turnbull2000
    • #6
    • 21st Sep 12, 1:09 PM
    • #6
    • 21st Sep 12, 1:09 PM
    Rents are likely to keep rising until the banks start to resume mortgage lending and house prices begin rising. Would be FTBs are trapped in rental.
    Originally posted by nollag2006
    Fixed that for you. There's effectively no way out, as the solutions are all non-starters due to the mindset of our politicians and lobbying interests.
    Last edited by Turnbull2000; 21-09-2012 at 1:12 PM.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • rickbonar.
    • #7
    • 21st Sep 12, 4:48 PM
    • #7
    • 21st Sep 12, 4:48 PM
    And government have made squatting illegal.
    • Pincher
    • By Pincher 21st Sep 12, 5:59 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #8
    • 21st Sep 12, 5:59 PM
    • #8
    • 21st Sep 12, 5:59 PM
    And government have made squatting illegal.
    Originally posted by rickbonar.
    Wait till you come home and the lock is changed.
    • CLAPTON
    • By CLAPTON 21st Sep 12, 6:22 PM
    • 41,650 Posts
    • 30,691 Thanks
    CLAPTON
    • #9
    • 21st Sep 12, 6:22 PM
    • #9
    • 21st Sep 12, 6:22 PM
    alternatively one could note that rents are rising about the same as general inflation (but that probably wouldn't make a great headline)
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 21st Sep 12, 9:49 PM
    • 26,040 Posts
    • 59,346 Thanks
    HAMISH_MCTAVISH
    alternatively one could note that rents are rising about the same as general inflation
    Originally posted by CLAPTON
    And around double the rate of wage inflation.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
    • CLAPTON
    • By CLAPTON 21st Sep 12, 10:54 PM
    • 41,650 Posts
    • 30,691 Thanks
    CLAPTON
    And around double the rate of wage inflation.
    Originally posted by HAMISH_MCTAVISH

    it's good to get a more complete picture
    • Shun_di
    • By Shun_di 21st Sep 12, 10:59 PM
    • 9 Posts
    • 7 Thanks
    Shun_di
    It would be interesting to find out where the majority of this rent inflation is coming from. We have have rented a great two bedroom flat in Stafford since March 2010 for £500 a month.

    We have just renewed for another 6 months and we are still paying £500 per month. I suspect that most of this inflation figure is coming from the south east of the country and distorting the figures.

    There is life outside of London
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 21st Sep 12, 11:38 PM
    • 26,040 Posts
    • 59,346 Thanks
    HAMISH_MCTAVISH
    There is life outside of London
    Originally posted by Shun_di
    I live about as far away from London as it's possible to get in the UK.

    Average rent for a 2 bed flat here is £827 per month. And for a 3 bed is £1225.

    My neighbour lives overseas and has raised the rent on his place by over £150 a month in the last 18 months or so. The last tenants moved out on Friday, he had it painted Friday night, and the new ones moved in that weekend.

    So yes, there is life outside of London. But it ain't necessarily much cheaper...
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 21st Sep 12, 11:46 PM
    • 26,040 Posts
    • 59,346 Thanks
    HAMISH_MCTAVISH
    it's good to get a more complete picture
    Originally posted by CLAPTON
    Indeed.

    Like the fact rents have risen by 12% in just 3 years.

    To new all time record highs.

    And by more than double wage inflation.

    In a recession. With high unemployment.

    And despite significant housing benefits cuts.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
    • diable
    • By diable 21st Sep 12, 11:59 PM
    • 5,114 Posts
    • 3,968 Thanks
    diable
    Or the landlords start putting in double bunks and charge per bed,
    instead of per room.
    Originally posted by Pincher
    Its called a hostel and quite a few in Earls Court and Shepards Bush (IO6 Spelling)
    • somethingcorporate
    • By somethingcorporate 23rd Sep 12, 12:56 PM
    • 9,119 Posts
    • 8,806 Thanks
    somethingcorporate
    I live about as far away from London as it's possible to get in the UK.

    Average rent for a 2 bed flat here is £827 per month. And for a 3 bed is £1225.
    Originally posted by HAMISH_MCTAVISH
    That is bonkers! which city is that? (if you don't mind sharing).
    Thinking critically since 1996....
  • nollag2006
    Fixed that for you.
    Originally posted by Turnbull2000
    No need to do any "fixing", thanks

    House prices are rising.

    This is according to the ONS, the Land Registry, the Nationwide, and pretty much every other index out there. The only one that is negative is the Halifax, and that will change in a few months.

    What is holding back house prices from rising even more rapidly is the availability of the very mortgage finance that is preventing renters from becoming FTBs,
    • Pincher
    • By Pincher 23rd Sep 12, 4:38 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    Its called a hostel and quite a few in Earls Court and Shepards Bush (IO6 Spelling)
    Originally posted by diable
    I hear it's truly barbaric and savage and full of Australians.
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 23rd Sep 12, 7:55 PM
    • 26,040 Posts
    • 59,346 Thanks
    HAMISH_MCTAVISH
    That is bonkers! which city is that? (if you don't mind sharing).
    Originally posted by somethingcorporate
    Aberdeen.

    http://www.citylets.co.uk/reports/pdf/Citylets-Rental-Report-Q2-12.pdf?ref=reports

    http://www.citylets.co.uk/reports/pdf/maps/Q212/aberdeen-rental-values-Q2-2012.pdf
    Last edited by HAMISH_MCTAVISH; 23-09-2012 at 8:06 PM.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
    • Pincher
    • By Pincher 24th Sep 12, 9:51 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    Oil town UK.

    If they made Dallas here, it would be called Aberdeen.

    No need to change the names, since so many oil men are Scottish.
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