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JonnyTomes

Mass Increase In London Rental Availability?

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Just a query to see if this is my imagination or whether it's actually true. When I first moved to London 7 years ago it was impossible to find rental property in the area I now live. A physical trip down from the North, followed by a viewing and deposit payment that day, was required to secure a competitive property. Now there are around 250 middling to decent properties for rent in my area. These don't seem to be shifting due to obvious oversupply and seemingly high rental costs.

If this is a consistent theme in other areas I can't see how the Brown juggler can keep all his dung balls in the air. Some people need to move house. If they can't sell at the price they want (hence property not on the sale market) and can't rent at the price they need (massive oversupply?) then at some point either the rental, or sale market, or both must go down significantly. If like Western Europe it becomes cheaper to rent than to buy who in their right mind would go to the hassle of buying overpriced cr*p in impoverished areas when they can live in a decent neighbourhood for less? Seems odd this utterly ramped property-obsessed Brit mentality. Think 2009 may look like this in the history books. All references to ramps, impossible stunts, and Mr Evil himself are all intentional:

Evil.jpg

post-22119-1250009897_thumb.jpg

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You are correct. The reason surprisingly, is nothing to do with the economy but the mass exodus occurring to the suburbs.

I work in the heart of the city. Everyone wants to move out of London because of the crime.

Love the pictorial reference. :lol:

Edited by Mr G

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You are correct. The reason surprisingly, is nothing to do with the economy but the mass exodus occurring to the suburbs.

I work in the heart of the city. Everyone wants to move out of London because of the crime.

Love the pictorial reference. :lol:

I was having a think about this yesterday when the news was full of us having to grow more of our own produce. If a lot of manual workers take up agricultural work and move out to the suburbs in the nearish future, all the escapees will be looking to move back in to the city again.

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Just a query to see if this is my imagination or whether it's actually true. When I first moved to London 7 years ago it was impossible to find rental property in the area I now live. A physical trip down from the North, followed by a viewing and deposit payment that day, was required to secure a competitive property. Now there are around 250 middling to decent properties for rent in my area. These don't seem to be shifting due to obvious oversupply and seemingly high rental costs.

If this is a consistent theme in other areas I can't see how the Brown juggler can keep all his dung balls in the air. Some people need to move house. If they can't sell at the price they want (hence property not on the sale market) and can't rent at the price they need (massive oversupply?) then at some point either the rental, or sale market, or both must go down significantly. If like Western Europe it becomes cheaper to rent than to buy who in their right mind would go to the hassle of buying overpriced cr*p in impoverished areas when they can live in a decent neighbourhood for less? Seems odd this utterly ramped property-obsessed Brit mentality. Think 2009 may look like this in the history books. All references to ramps, impossible stunts, and Mr Evil himself are all intentional:

Evil.jpg

I have a flat in london which I rent out and I can't really see much difference in terms of availability vs say six years ago BUT things are certainly sticking unrented for longer.

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I was having a think about this yesterday when the news was full of us having to grow more of our own produce. If a lot of manual workers take up agricultural work and move out to the suburbs in the nearish future, all the escapees will be looking to move back in to the city again.

You really are an offensive old bird.

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I have been renting my london flat out since Aug 2006 and fortunately haven't had any voids so far.

About a month ago I noticed a large surge of flats for rent on my development on right move but they all seem to have disappeared now so either rented our withdrawn.

Hopefully it will be this way when I need to renew my lease in April 2010 because I don't want too much competition.

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I have a flat in london which I rent out and I can't really see much difference in terms of availability vs say six years ago BUT things are certainly sticking unrented for longer.

What about the sub letting situation, a few friends move in with their blow up beds and sleeping bags. ;)

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What about the sub letting situation, a few friends move in with their blow up beds and sleeping bags. ;)

Don't know about that because there's no way to find out. Would be difficult in this development due to 24 hour concierge.

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Don't know about that because there's no way to find out. Would be difficult in this development due to 24 hour concierge.

Don't they have workmen or gardeners? ;)

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Just a query to see if this is my imagination or whether it's actually true. When I first moved to London 7 years ago it was impossible to find rental property in the area I now live. A physical trip down from the North, followed by a viewing and deposit payment that day, was required to secure a competitive property. Now there are around 250 middling to decent properties for rent in my area. These don't seem to be shifting due to obvious oversupply and seemingly high rental costs.

If this is a consistent theme in other areas I can't see how the Brown juggler can keep all his dung balls in the air. Some people need to move house. If they can't sell at the price they want (hence property not on the sale market) and can't rent at the price they need (massive oversupply?) then at some point either the rental, or sale market, or both must go down significantly. If like Western Europe it becomes cheaper to rent than to buy who in their right mind would go to the hassle of buying overpriced cr*p in impoverished areas when they can live in a decent neighbourhood for less? Seems odd this utterly ramped property-obsessed Brit mentality. Think 2009 may look like this in the history books. All references to ramps, impossible stunts, and Mr Evil himself are all intentional:

Evil.jpg

Yes, I had similar experiences in the 90s in London. Now decent stuff seems to sit on Rightmove for several weeks, with occasional price falls too.

Like the sig BTW.

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Just a query to see if this is my imagination or whether it's actually true. When I first moved to London 7 years ago it was impossible to find rental property in the area I now live. A physical trip down from the North, followed by a viewing and deposit payment that day, was required to secure a competitive property. Now there are around 250 middling to decent properties for rent in my area. These don't seem to be shifting due to obvious oversupply and seemingly high rental costs.

If this is a consistent theme in other areas I can't see how the Brown juggler can keep all his dung balls in the air. Some people need to move house. If they can't sell at the price they want (hence property not on the sale market) and can't rent at the price they need (massive oversupply?) then at some point either the rental, or sale market, or both must go down significantly. If like Western Europe it becomes cheaper to rent than to buy who in their right mind would go to the hassle of buying overpriced cr*p in impoverished areas when they can live in a decent neighbourhood for less? Seems odd this utterly ramped property-obsessed Brit mentality. Think 2009 may look like this in the history books. All references to ramps, impossible stunts, and Mr Evil himself are all intentional:

Evil.jpg

I don't want to be too critical of your first post (welcome to HPC btw), but it is already cheaper to rent than to buy here in the UK, and has been for a long time.

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