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Demand For Rental Properties 'at Record High'

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http://www.bbc.co.uk/newsbeat/12122119

More people than ever are trying to find properties to rent in the UK, according to the Association of Residential Letting Agents (ARLA).

It says the number of tenants on agents' books has reached a record high.

A year ago, one in four agents say demand was higher than the number of properties available but that's now tripled to three quarters.

They say it's down to more people being forced to rent as they can't buy.

It means people are spending months trying to find a home and end up taking places with high rents or somewhere they don't want to live.

ARLA, the only professional self-regulating body that looks after lettings, is concerned people will be ripped off as independent landlords join the market, start renting out properties and try to exploit desperate renters.

Can't find the newsbeat report which is being broadcast, but there's a nice landlord saying how great it is and all his property's are let.

Clearly buy to let is where the money is.

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So maybe lots of people buy to let (if they can get a mortgage). Lots of people have to rent from them. Whole families end up living in one or two cramped, rented rooms. Noise problems, neighbour problems, maintenance problems, health problems due to stress, lack of sleep, unhealthy buildings, rent defaults. No cash for social housing. Unemployment and inflation. Interest rate rises? Reposessions?

Will non student type people ever get angry enough to campaign / march / riot in protest? What happens to property prices? A long, slow decline? Stasis? Ah the mysteries . . . I feel strangely sanguine. I'm kinda glad things are actually changing. It's gonna be painful though.

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im looking at renting in a couple of months, i've been keeping my eye on the market in my area. and over the last 6 months i've found, Landlords dropping prices due to long periods of no tennents.

nice 2 bed + flats/houses staying empty for upto 6 months, and over that period prices dropping.

loads of properties comming to the market at the mo on rightmove, there are too many properties in my criteria (2 bed +, £700 maximum PCM, house or ground floor flat with private entrance, off road parking/private parking for at least 1 car, garden, and in 2 specific areas, unfurnished some housescome with a garage) for me to actually look through them all, and more being added by the week.

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immigration down but rental demand up?

You don't think it's repo former owners looking for somewhere to live. If banks aren't selling cos they don't want to make a loss ...

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people forced to rent as they cant buy?

where were they last month?

ARLA are a shower of cuss....I complained about my agent and palmed off with no action other then a thank you for your letter.

Oh, and there are 764 properties to rent with 10 miles of me.

time was when an agent had just a few on its books, and timing was all important if you wanted to move.

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I've been having a bit of a poke around near me, as I'm certain that when it comes to my renewal, the landlord is going to want a big increase. Last time, the dipstick agent sent them a letter saying they could be getting considerably more than now, but I called their bluff and told them to stuff off.

Anyway, whilst there's a lot on the market, most of it is bloody awful. I won't end up on the street, but I'm not going to be able to get anything like what I'm in now for the same money. I'd say rents are definitely on the up.

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http://www.bbc.co.uk/newsbeat/12122119

Can't find the newsbeat report which is being broadcast, but there's a nice landlord saying how great it is and all his property's are let.

Clearly buy to let is where the money is.

I am convinced that a lot of this about rising rents is just a load of guff. It is part of the gaming that is going on to ensure that the move to pay HB claimants a max of 30th percentile rents for an area. So, pretend that the rents are going up and you can still get your wad from the taxpayer for the HB claimants in your property.

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Can anyone give any *good* data on this? I've heard the anecdotes too.

A year ago, one in four agents say demand was higher than the number of properties available but that's now tripled to three quarters.

This is such a convoluted "statistic". Demand was higher than the number of properties available? How's that measured? Are they measuring total enquiries vs current vacancies?

It means people are spending months trying to find a home and end up taking places with high rents or somewhere they don't want to live.

There's thousands of properties available for instant take up. There's always flats you'd like out of your price range no matter how rich you are.

Is this actually true?

Are rents going up in line with increased costs of fixing boilers with new parts, furnishing?

Edited by cica

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even the nice bits of leicester/nottingham are not shifting in terms of rentals.the nad bits are not moving at all and yet they're still asking the same as the nice areas.madness ah tell ye.

I guess location is the key - I'm looking round the Thames Valley, where property lunacy is commonplace. Just been looking at house prices, and (pretty ordinary) three bed semis are up for £300k. Bloody ridiculous...

I think I'm just going to buy a campervan and stick it in the office car park! :D

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I am convinced that a lot of this about rising rents is just a load of guff. It is part of the gaming that is going on to ensure that the move to pay HB claimants a max of 30th percentile rents for an area. So, pretend that the rents are going up and you can still get your wad from the taxpayer for the HB claimants in your property.

Rents rise every year recently below inflation but usually about the same, but the press say rising without mentioning this.

There is a shortage of rental properties but no rise in rents.

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Rents rise every year recently below inflation but usually about the same, but the press say rising without mentioning this.

There is a shortage of rental properties but no rise in rents.

Sounds believable to me.

Regarding the shortage of rental properties...in what way is there a shortage of rental properties? There's always a shortage of everything at prices just below what people are willing to pay. I'm not arguing I'm just interested with a genuine question. Are you comparing to how many single occupier renters there are in other countries or something? Or you mean immigration is increasing the ratio of renters:properties.

Edited by cica

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Here is a little anecdote about rental demand.

A friend is looking for a house to rent in north London (edgeware / harrow ) due to his current rented house being condemed with major subsideance problems.

Anything that is good is let within hours of going on the market.

He has been looking for over a month and it is literally a race to sign as soon as something comes on the market so far he has not won that race. Even hovels you wouldnt put your worst enemy in are being let quickly.

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Here is a little anecdote about rental demand.

A friend is looking for a house to rent in north London (edgeware / harrow ) due to his current rented house being condemed with major subsideance problems.

Anything that is good is let within hours of going on the market.

He has been looking for over a month and it is literally a race to sign as soon as something comes on the market so far he has not won that race. Even hovels you wouldnt put your worst enemy in are being let quickly.

Sounds like the prices are too low if that's true.

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Here is a little anecdote about rental demand.

A friend is looking for a house to rent in north London (edgeware / harrow ) due to his current rented house being condemed with major subsideance problems.

Anything that is good is let within hours of going on the market.

He has been looking for over a month and it is literally a race to sign as soon as something comes on the market so far he has not won that race. Even hovels you wouldnt put your worst enemy in are being let quickly.

I've heard this before. Hasn't this always been the case? There's always variation in rents and the ones priced lowest, those whose agents/owners have miscalculated the trade off between getting rental income ASAP and waiting for the minority of tenants that'll pay too much because they weren't organised and panic-rented. Maybe your friend is a bargain hunter.

We need some *good* stats that something is actually any different. It's hard to really take some of those anecdotes seriously.

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We have a fairly nice rental - not perfect but good enough. Anyway, I check RM every now and then just in case anything brilliant comes up, and I just end up thanking my lucky stars we found the property we did. There's plenty of rentals, but they're either VERY expensive, or grotty 1 or 2 beds (we wanted 4), and if they do claim to have 4 beds, you find that means no sitting or dining room.

I have no idea what's going on. The whole country seems to be living in never-never land. I wish I could join them sometimes...

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There's always a shortage of everything at prices just below what people are willing to pay. I'm not arguing I'm just interested with a genuine question. Are you comparing to how many single occupier renters there are in other countries or something? Or you mean immigration is increasing the ratio of renters:properties.

I think there is a shortgage of properties as the number vacant and for rent is gradually falling, in London from about 10% to 5% or as

house prices rose and people had to rent along with a growing population and rising age of FTB.

Landlords can only charge what the person renting can afford unlike banks, and renters pay right up the laffer curve

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I've often suspected that this rent story is a pile of BS by the property industry, so I started tracking number of properties for rent vs those for sale in my area...the scales are different (rents lower one), but the trends are clear - as you'd expect numbers for sale has dropped significantly as all those trying the market fall out, but interestingly, all those desperate first time buyers aren't renting either as the number of properties available to rent has risen dramatically over the past 5 months.

Ignore ARLA, RICS and the NAEA etc, they're full of cr@p

torentvsforsalejancopy.jpg

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A good place to look is this rent index. Closest thing I've found to an objective view.

Percentage change

12 months 6 months 3 months 1 month

+0.936% +2.075% -1.479% -0.570%

Prices been pretty much flat since Oct 2008

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A good place to look is this rent index. Closest thing I've found to an objective view.

Percentage change

12 months 6 months 3 months 1 month

+0.936% +2.075% -1.479% -0.570%

Prices been pretty much flat since Oct 2008

Sounds more believable overall. Thank you for that.

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  • 312 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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