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CommonSense

Rent Ups And Downs

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My 'rent' to the bank went down with the last interest rate cut. But I upped my overpayment by the same amount (actually a good big more than the reduction), to take advantage.

As for actual rents, I rents in Glasgow seem to be still holding up. I think it must be just the continuing stand-off between landlords and renters and vendors and buyers and the fact that the whole downward purchase and rent situation is likely a good bit behind those of you in the south east.

There are huge numbers of unoccupied new-builds though and I think a lot of these are due for significant rent and purchase price drops once reality sets in.

EDIT: PS, I didn't vote, since I'm not really renting. Didn't want to spoil your poll.

Edited by aclwalker

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My rent has gone up by about 15% over the last four years.

However it was a very good price to begin with. Now it's more or less what I expected to have been paying four years ago. (i.e. what the rent on other similar houses was back then)

Edited by Free Thinker

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Mine has stayed the same, but I did move 18 months ago to a bigger house. I wouldn't be surprised, however, if most of the rent rises happen "between tenants", i.e. one lot paying £500pcm moves out, another lot moves in paying £600pcm.

Just a thought...

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Moved in 3 years ago. Before we moved in the rent was £1800 (House share for 4 people) we reduced this to £1600 and has stayed the same ever since. Think house is worth about £500,000. So they are getting a very healthy 3.84% return on their capital much better than say a HSBC current account.

Edited by since the beginning

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Was a bargain when I got it; has stayed that way (if not improved due to inflation). Because there are so many estate agents where I live (an area of SE1 which has about 10 agents in an area barely 1/2 a mile square!) I can easily keep an eye on rents, and they seem to have been flat, if not even falling slightly, and this is on the doorstep of the City.

Also, the flat next to us has been in one agents office as 'Under offer' for the last 2&1/2 years... been empty the entire time. Waste of a really good flat (nb: price hasn't altered either). I've often wondered if such empty flats were one of the drivers behind the bubble - artificial restrictions on supply by people buying residential property as an asset and not bothering renting, just relying on CA.

IMD

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Was a bargain when I got it; has stayed that way (if not improved due to inflation).

Same here. And I'm more than happy to carry on renting the same place for another 5 years.

Nomadd

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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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