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Bloo Loo

Rents To Rise In 2011 In The Uk

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http://www.businessw...-next-year.html

Almost Half of U.K. Tenants Anticipate Rent Increases Next Year

August 09, 2010, 2:08 AM EDT

By Svenja O'Donnell

Aug. 9 (Bloomberg) -- Almost half of Britons who rent their homes predict they will have to pay more for their accommodation in a year's time, Rightmove Plc said.

Forty-five percent of tenants surveyed expect their rent to increase in 2011, the fifth consecutive quarterly gain and 12 percent more than a year ago, the operator of Britain's biggest property website said in an e-mailed statement today in London. The number of properties available for rent by real-estate agents dropped by a fifth in June, compared with a year earlier.

Britons' ability to buy homes is being impaired by banks' rationing of mortgages, while the government's planned spending cuts, the deepest since World War II, have sparked concern the economy may plunge back into a recession. Mortgage approvals fell to a four-month low in June, while consumer confidence dropped in July, according to GfK NOP.

"Many renters are caught in a 'financial markets crossfire,' taking financial hits from all directions," Miles Shipside, commercial director at Rightmove, said in the statement. "As well as being negatively impacted by the new government's austerity measure, they are likely to have to compete harder and pay more for the dwindling choice of rented accommodation."

Rightmove surveyed 2,124 people online between July 5 and July 19.

course, 55% didnt expect rents to rise.....I think the headline tells a different slant.

EDIT to remove copy and paste surplus

Edited by Bloo Loo

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Not really a very interesting story there - "people give a mixed response to a pretty vague question"

Are higher rents seen as a good thing by the MSM?

Obviously if rents are lower people might be able to spend money on other things which are advertised in newspapers it is a good thing if prices drop - but if your newspapers benefits from people who benefit from higher rents (BTL/professional investors), higher prices are a good thing.

Without a doubt, HPI was great for anyone selling papers or magazines.

Titles such as:

Property

House and Home

Country Living

Slumlord Millionaire

Magical Equity Withdrawl

Up Up Up

Location Location Location

City Living

Propertyfinder

................ etc...

I had a quick look at a magazine here in Russia as I think that their Dacha system is pretty cool.

I could pick up for a million roubles a shack somewhere and spend weekends there if I lived here - which I don't

Anyway - all the magazines were selling furniture, fridges, hot-tubs etc...

Basically you are buying into the life-style and paying for it!

For Renting - how does the MSM or VIs benefit?

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Meanwhile, in other news...

Over Half of U.K. Tenants Do NOT Anticipate Rent Increases Next Year

:rolleyes:

Or in other news, tennants tell their agents to shove the planned rent increase (for numerous reasons from shite flat to shite letting agent) and apparently (well as of a couple of weeks) get away with it.

There is a huge difference between planning a rise in rents and actually implementing it.

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What drew my attention to this was the Bloomberg Ticker....every couple of minutes it was comingup...its like this is important financial news, yet they didnt say over half of tenants expect rents to fall/stagnate, they said nearly half thought they would rise.

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  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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