Thursday, Jul 02, 2009
Suddenly renters are trend setters!
Telegraph: Property market: renting is all the rage
A feel good article for renters that ends up being hijacked by Yolade barnes (Savills) to ramp BTL.
"Renting is the future, but the future is already happening because it is the fastest-growing sector of the market," says Yolande Barnes, head of research at Savills. She anticipates that the private rented sector will grow to over 20 per cent of the property market because it offers a good deal to investors.
Posted by wdbeast @ 06:55 PM (1148 views) Add Comment
13 Comments
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1. paul said...
"They will probably sell the London house when the market recovers"
Ahhh yes. When the recovery comes ...
2. paul said...
Best quotes:
Duncan Clerkin, a 34-year-old venture capitalist, is renting a two-bedroom flat through Knight Frank in Wimbledon.
Yolanda from Savills: "Maybe venture capitalists will be game to build portfolios with high income streams which the institutions will then buy."
Do you ever get the impression that people working in the property business don't think in joined up writing?
3. charlie brooker said...
Renting is the new buying.
4. gone-to-colombia said...
Another worthless article that descibes the doings of the cafe' society to the few. A version of reality that applys to the froth of nation, or the scum depending on your point of view.
5. flintster1994 said...
Poetically put gtc
6. yoyo1 said...
rent now = +20% more negative equity for next year.
7. yoyo1 said...
That is +20% more negative equity on their main house rented in London.
8. mark wadsworth said...
JE5U5 H CHR15T.
If they're renting one property (as landlords) and renting another (as tenants), then, apart from all the tax costs and hassle with maundy tenants at one end and a stroppy landlord at the other, in economic terms, this is exactly the same as if they were owner-occupiers.
Personally, I'd be delighted if we turned the clock back a century and 90% of households were tenants, that'd make introducing Land Value Tax a shoo-in.
PS, what on Earth is a 'zip wire'?
9. crash n burn said...
I think a zip wire is a cord that runs through the air which you clip on to and slide down
10. uncle tom said...
Renting is fundamentally less efficient than buying. Therefore, in the longer term, renting is only appropriate for those who have only temporary housing needs, have a seriously flawed credit history, or are dependant on the state to meet their housing requirement.
For BTL to make an acceptable return for investors (when compared to other forms of investment) the level of rent needs to be at a level that gives the tenant a sound financial argument for buying instead, especially if the money to buy the let, was itself borrowed.
However, never under-estimate just how stupid some seemingly educated people can be...
11. Narrowescape said...
Renting is... for those who have a substantial and growing deposit, looking to buy somewhere to buy at low cost (possibly mortgage free) from one of the bankrupt BTL "entrepreneurs", or overleveraged "owners" at some point over the next 2-3 years.. Come on UT, you'll have to do better than that.
FAIL.
12. contrails are not a conspiracy (formerly npnh) said...
Narrowescape said "FAIL"
Sorry UT but I second that motion!
13. bleakhouse said...
Ha ha ha ha.Negative equity nearly negative equity can't sell house, can't afford live there, (move in with M&D) Well then, rent it out.
Course its a growing sector. Duuuh!