Jonnybegood Posted August 28, 2009 Share Posted August 28, 2009 (edited) Full article here: Rents Rising It does make sense, those forced to rent out are now seeing a chance to sell and by the looks of it property is getting snapped up quite quickly due to low volume coming to market. This in turn gives those left renting out property a better position to raise the rent. I know that many property management companies have raised their fees considerably this year, with landlords passing on the rise to their tenants. The cost of renting a home is rising as "reluctant landlords" sell-up in the recovering housing market, various surveys have suggested.Rents in England and Wales rose by 0.5% in July compared with June - the fastest rate in a year, according to letting agent LSL Property Services. Edited August 28, 2009 by Jonnybegood Quote Link to comment Share on other sites More sharing options...
Goat Posted August 28, 2009 Share Posted August 28, 2009 I hear the thunder of bears approaching at speed. Prices are rising due to ultra limited supply - reluctant landlords selling off property removes the only support the market has left. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted August 28, 2009 Share Posted August 28, 2009 It's a story on the BBC, therefor can be taken with a bucket full of salt. Quote Link to comment Share on other sites More sharing options...
tomandlu Posted August 28, 2009 Share Posted August 28, 2009 Prices are rising due to ultra limited supply - reluctant landlords selling off property removes the only support the market has left. Well, it's not that limited if the RLs are selling... That said, I'm not disagreeing, but there's something here that doesn't make sense. Rents dropped due to large numbers of new reluctant landlords who couldn't sell Sales rise due to limited number of properties RLs now sell, thus no longer limited properties The above still allows house prices to rise Quote Link to comment Share on other sites More sharing options...
kilroy Posted August 28, 2009 Share Posted August 28, 2009 Full article here:Rents Rising It does make sense, those forced to rent out are now seeing a chance to sell and by the looks of it property is getting snapped up quite quickly due to low volume coming to market. This in turn gives those left renting out property a better position to raise the rent. I know that many property management companies have raised their fees considerably this year, with landlords passing on the rise to their tenants. Don't have figs in front of me but sounds seasonal (families feeling time pressure to get in before school starts etc) Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted August 28, 2009 Share Posted August 28, 2009 I keep an eye on the rents here (St Albans) and they have gone up slightly in the last few months. Our landlord just put our rent up - I'm not bothered as it's still peanuts compared to paying a mortgage. Quote Link to comment Share on other sites More sharing options...
Sonic the Hedge Fund Posted August 28, 2009 Share Posted August 28, 2009 Prices are rising due to ultra limited supply - reluctant landlords selling off property removes the only support the market has left. If my recent house viewing experience is anything to go on, it's not the reluctant landlords selling up; it's the 'professional' BTL landlords flogging their beleaguered HMO - I have looked at two such houses this week. One consequence of the recession is a boom in 'rooms for rent' as home-owners take lodgers to make ends meet. Thus pulling the rug from under the HMO landlords. Not to mention the Poles going home. So HMO's are being sold as 'family' homes; but they will tend to be lower priced because they are often a bit ropey having had a succession of short term tenants. IMO this shows that the supply/demand equation is not quite so simple as 'Households vs Builds'; because occupancy trends can shift the balance very quickly in a changing economic climate Quote Link to comment Share on other sites More sharing options...
Sonic the Hedge Fund Posted August 28, 2009 Share Posted August 28, 2009 (edited) Don't have figs in front of me but sounds seasonal (families feeling time pressure to get in before school starts etc) This is very true; in my area school applications run September-October We moved to a new let last August for this very reason. I know several others who did the same; one was even an OO who rented for 6 months just to get the right school and has now moved back to their own home. But of course these houses will become available again around February-April when the 6 month ASTs run out. Edited August 28, 2009 by Sonic the Hedge Fund Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted August 28, 2009 Share Posted August 28, 2009 The cost of renting a home is rising as "reluctant landlords" sell-up in the recovering housing market, various surveys have suggested.Rents in England and Wales rose by 0.5% in July compared with June - the fastest rate in a year, according to letting agent LSL Property Services. A letting agent - neutral data source then. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted August 28, 2009 Share Posted August 28, 2009 (edited) A letting agent - neutral data source then. The BBC - Home of "Cut and Paste Journalism" since the WWW was invented. A separate survey by the Findaproperty.com found that the average UK rent rose to £829 a month in July, up £4 on the previous month. This was the highest level for six months and the third consecutive monthly rise. Fecking hell! Edited August 28, 2009 by HostPaul TAFKA Rover2000 Quote Link to comment Share on other sites More sharing options...
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