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curious1

Glasgow Rentals Collapse

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A friend here is sticking a flat on the rental market... he expected to get 800pm for it... 'aye right!' I told him I thought that was pretty optimistic (to say the least).

Anyway, this week, he tells me its going on for 575-600.... his letting agent (for a major name agents ) layed it out straight.... the market has dropped 30% over the last 4 years... there's a massive glut of properties for rent, especially from the new stuff along the river... Many investors sitting with empty properties.

Fair enough there have been some articles on this subject recently, but I don't think anyone has really expressed the true extent of the problem here.... There's still loads of housing going up with no one to buy OR rent it...

:ph34r:

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Oh good. Now if the biggest city in Scotland is about to follow the rest of the UK downwards maybe we can finally get on with the HPC and get past all this 1.6% monthly price rise rubbish! :angry:

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A friend here is sticking a flat on the rental market... he expected to get 800pm for it...  'aye right!' I told him I thought that was pretty optimistic (to say the least).

Anyway, this week, he tells me its going on for 575-600....  his letting agent (for a major name agents ) layed it out straight.... the market has dropped 30% over the last 4 years... there's a massive glut of properties for rent, especially from the new stuff along the river...  Many investors sitting with empty properties.

Fair enough there have been some articles on this subject recently, but I don't think anyone has really expressed the true extent of the problem here.... There's still loads of housing going up with no one to buy OR rent it...

:ph34r:

I've been watching this situation build up for months ie the glut of rental and new-build properties.

It is this reason that makes me think we should be having a very fast correction in prices. I am puzzled as to why it seems to be dragging on and on.

I think/hope it'll just hit a critical mass and fall off a cliff! :o

NDL

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  • 302 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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