Saturday, Mar 03, 2018

Says alot about the Mail readership

Daily Mail: Experts warn of buy-to-let crunch

As commented before the BTL gravy train is being turned off. The Daily Wail obviously think that they have more BTL landlords than potential FTBs in their readership.
ARLA continuing the myth that houses mysteriously disappear when withdrawn from the rental market. That certainly didn't happen in 1982 when friends, landlord was trying to sell him a house near Stapleton Road railway station Bristol for £15K as he wasn't making any money from it !!!

Posted by tenyearstogetmymoneyback @ 11:11 AM (4101 views) Add Comment


1. quiet guy said...

The ONS publish an "experimental price index tracking the prices paid for renting property from private landlords in Great Britain."

The most recent index
seems to paint a benign picture with some weakness in London and reasonably normal rises elsewhere.

Alexandra Morris, managing director of MakeUrMove, said: 'The rising costs associated with the changing legislative and regulatory environment will result in either increased rents or landlords having to sell their properties.

'The worst-case scenario will be a housing market crash if landlords default on their mortgage payments or decide to cut their losses.

'The Government is currently sleep walking into this crisis when the alarm bells should be ringing.'

So when BTL was making hay, everything was fine. Now it's the government's crisis to deal with. Hmm.

Saturday, March 3, 2018 03:19PM Report Comment

2. sneaker said...


I thought we’d had enough of them but they are BACK!

Saturday, March 3, 2018 08:03PM Report Comment

3. stillthinking said...

I think they do kind of disappear for a while. I know somebody who was renting out a house in London, multiple occupancy, and getting extremely well compensated on a per room basis. Anyway, he decides to sell. Which means giving 2 months notice period. Most people don't wait around and shift, but until the last person is gone the house sale can't be completed.
In London you don't qualify for emergency housing if you leave accomodation voluntarily, you must be -made- homeless i.e. you must be evicted for the council to rehouse. So I imagine that for a few people sitting it out make a lot of sense. In which case you have a lot of rooms empty, and in that case many rooms -have- "effectively" disappeared.
So you could imagine a temporary spike in rents if a large number of landlords tried to prepare for sales at the same time.

Sunday, March 4, 2018 01:12PM Report Comment

4. mombers said...

@3 the data simply doesn't reflect any increase in rents beyond a long term trend (see the graph). Such a small increase in voids as described has not translated into any rent rises, and I bet some of these are being sold to owner occupiers. They will of course largely be higher earners than average, leaving a lower average wage for the PRS to tuck into. A Deliveroo driver simply can't pay the same rent as a trainee solicitor/accountant/software developer/etc. Especially since Housing Benefit has been cut in real terms (thank goodness)

Monday, March 5, 2018 10:38AM Report Comment

5. nickb said...

the assumption that landlords might simply pass on their cost increases to tenants is the other obvious howler here. What the landlord can charge depends on the benefits afforded by the location and dwelling. Rising taxes for BTLers are not a cost of production that has to be met in order for the dwelling to be brought to market.

Thursday, March 8, 2018 03:21PM Report Comment

6. mombers said...

@5 interestingly, one of the complaints about section 24 was that it was the equivalent of a 1.5 percentage point increase in mortgage rates. If so, we should see the same effect on rents as a 1.5 percentage point increase, i.e. nothing. If rate changes were passed on in rents, renters would have enjoyed a large fall in rents since 2009 FFS. And a huge increase in the early nineties.

Friday, March 9, 2018 10:05AM Report Comment

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