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Rics Drops A Bombshell On Uk Rental Market

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data showing a significant fall in rental value and many estate agents forecasting further downside. ......... :)

The problem appears to be oversupply in the UK rental market ................................... :D

The buy to let market has also shown significant signs of weakness over the last few months with more and more property investors struggling to pay their bills................ :lol:

http://financialadvice.co.uk/news/9/proper...e-pressure.html

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Vacant flat below us has just dropped it's asking price from £420pm to £395pm.

Don't know why it hasn't gone.. nice area and the neighbours are great :unsure:

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Had lunch yesterday with a friend who works for the council finding accomodation for homeless families. He says there's a marked increase in landlords coming to them (Bournemouth area) looking for benefit funded families.

The landlords have failed to find conventional tenants. The Council is now negotiating them down, both on rent and on deposits etc. Some of them whinge about rents offered being 'not enough to cover my mortgage'

My friend says this is a new phenomenon in this area

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Vacant flat below us has just dropped it's asking price from £420pm to £395pm.

Don't know why it hasn't gone.. nice area and the neighbours are great :unsure:

Perhaps you just depress everyone? :P

If you don't mind me asking do you own your flat or do you rent as well? If you rent how does your rent compare?

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Had lunch yesterday with a friend who works for the council finding accomodation for homeless families. He says there's a marked increase in landlords coming to them (Bournemouth area) looking for benefit funded families.

The landlords have failed to find conventional tenants. The Council is now negotiating them down, both on rent and on deposits etc. Some of them whinge about rents offered being 'not enough to cover my mortgage'

My friend says this is a new phenomenon in this area

If the council send a family, and they wreck the joint, does all that fall on the landlord or can they claim anything back from the council. Is there a deposit as such, that the LL can keep, or is this not a legal minefield maybe when you are dealing with councils (and you may not wish to cut of your supply as such?)

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Perhaps you just depress everyone? :P

If you don't mind me asking do you own your flat or do you rent as well? If you rent how does your rent compare?

Cheeky sod :P

We rent as well. We pay £420, the flat below has been reduced to £395.

I could ask for a reduction, but to be honest the LL has been pretty good and I am not going to start posturing for the sake of £25 a month. What would convince me to move is if I see something really nice for a similar price that I would rather live in.. but for now I'll live with it.

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Had lunch yesterday with a friend who works for the council finding accomodation for homeless families. He says there's a marked increase in landlords coming to them (Bournemouth area) looking for benefit funded families.

The landlords have failed to find conventional tenants. The Council is now negotiating them down, both on rent and on deposits etc. Some of them whinge about rents offered being 'not enough to cover my mortgage'

My friend says this is a new phenomenon in this area

Tee hee. It's the mid 90's all over again.

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Tee hee. It's the mid 90's all over again.

The rents are ludicrously high anyway -- propped up - [surprise, surprise!!] by the public sector - i.e. OUR money via the appalling "council tax".... :angry:

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If the council send a family, and they wreck the joint, does all that fall on the landlord or can they claim anything back from the council. Is there a deposit as such, that the LL can keep, or is this not a legal minefield maybe when you are dealing with councils (and you may not wish to cut of your supply as such?)

The deal with the council is (usually) that they will re-instate back to original condition.

tim

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This is satisfying: some BTL scum getting less than expected. Newbuild in 2006, and I look down on the grass roof of this small development (nine 1 and 2 bed shoebox flats). http://www.rightmove.co.uk/property-to-ren...y-24096629.html

Oh, er, it's just turned "let agreed", after

Tue Jun 30 14:19:58 2009

* Status changed: from 'New home' to 'Let Agreed, New home'

Fri Jun 26 02:13:29 2009

* Price changed: from '£495 pcm' to '£450 pcm'

Fri May 15 18:33:21 2009

* Price changed: from '£575 pcm' to '£495 pcm'

Mon Dec 29 01:20:58 2008

* Price changed: from '£595 pcm' to '£575 pcm'

Fri Nov 28 21:50:38 2008

* Initial entry found.

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Rents are far too high. Period. Loads of younger people are simply refusing to do it. Going back to their parents - ir ANYTHING but oay the ludicrous rents. Can't anyway - even if they wanted to. Gone are the days of raising "money" out of thin air...... [nearly]..... :P

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The deal with the council is (usually) that they will re-instate back to original condition.

tim

Waste of council tax payers' money == these places are trashed by people who don't care - and the cost is borne by the poor old council taxpayer....

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