Wednesday, Mar 04, 2009
Rents on the way down just like house prices
The Telegraph: BTL-Rental properties flood the market
8% rise in the amount of rental properties advertised in one month alone. Rents dropping-supply outstrips demand !!
Posted by johnnyp @ 08:14 PM (586 views) Add Comment
6 Comments
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1. Yoss said...
Can't sell for a reasonable price? You could always let it out for a year or two and rent a smaller place.
People taking this as a serious option, want to think long and hard, because rent (on a more modest place)+a mortgage you couldn't afford is the road to ruin. It only takes one 6 month void or one awkward tenant and your looking at huge hole in you finances.
Seriously if you want to do this, make sure you move back in with mum/dad or nan/grandad as the "To Let" signs are going up like flak on a dark night in 1940.
2. little professor said...
It's OK, the capital appreciation will make up for the loss of income.
Oh, wait....
3. inbreda said...
I think, little prof, that you are forgetting that these intelligent investing entrepreneurs are in it for the long term.
4. crunchy said...
I can't wait for the second wave of BTL bankruptcy when house prices become affordable on mass and they find that they have fewer
tentants as well as nursing a big loss. In it for the long term. D'oh!
5. fancypants said...
for crying out loud, don't these people know that there's a property shortage?
6. Patient Ftb said...
Viewed a house recently that was on the market to let at £1,250 pcm or for sale at £400k. Nice place - considered making an offer at £1,100 pcm but was called out of the country at short notice. Recently the vendor dropped to this price and has dropped again to £995ppcm and £340k. Might now make an offer at £900 pcm. People are hurting out there.