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Renters Gazumping!

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...so what you are saying is the extra you can earn by living in London goes towards paying extra rent added to that extra stress...seems a pointless exercise imo..... :blink:

I wouldn't bother... Londonites all seem to desperately justify their living existence in the city. They somehow don't understand that it is possible to enjoy all the city has to offer without any of the high living costs / stress just by travelling in for weekends / evenings of fun. They probably don't want to accept how cheap life outside London is, and likely fewer hours spent working / commuting and more hours for fun.

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I wouldn't agree with that.

It seems to me people that don't live in London always seem to be trying to justify why not.

The people that do tend to just get on with life and what the city has to offer for ill as well as good.

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I wouldn't bother... Londonites all seem to desperately justify their living existence in the city. They somehow don't understand that it is possible to enjoy all the city has to offer without any of the high living costs / stress just by travelling in for weekends / evenings of fun. They probably don't want to accept how cheap life outside London is, and likely fewer hours spent working / commuting and more hours for fun.

Actually a fair proportion of people living/working in London, have lived elsewhere and are fully aware of advantages/disadvantages. I myself used to do far more commuting when I lived in other UK locations. There again I'm now the opposite example, in that I don't seem to be a contender for jobs (now I'm 50) so have a lot more free time, if little money. London's not my favourite city (nor even my second favourite), but it has a lot of good things going for it, and it suits me to be here currently. In some ways it's actually cheaper here eg plenty of shops are accessible without spending on transport, free newspapers, mags, wi-fi zones etc. The things that people do spend more on eg eating out - doesn't affect me as I can cook far more cheaply and better at home. I can see that someone who's had to go to London to work, and has needed to live in private accommodation in zones 1,2,3, would find it very expensive. But, in many cases they have to do this to gain experience in their job field, and oviously many feel it's worth the cost. I think this has always been the case with London.

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I wouldn't agree with that.

It seems to me people that don't live in London always seem to be trying to justify why not.

The people that do tend to just get on with life and what the city has to offer for ill as well as good.

Fair enough, there are enough people on both sides of the coin.

I said what I said, because to me, there are just so many people moaning about the cost / price / stress of living in London, compared to those moaning about living elsewhere. I believe there is a thread or two in this forum alone bemoaning just that.

Just move away. The barriers are all in the mind.

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We left our previous rental after half-freezing during the cold snap at the beginning of 2010. Found a new place with the same EA and told them the old place had no insulation, single glazing etc so was too cold. Turns out she's friends with the old LL and passed on that information...

We bumped into our old neighbours who said that after we left, the LL spent months getting the windows done and insulating the loft etc then put it back on the market at 15% more than before and it wasn't a bargain then. Guess what? No-one took it until a further nine months later when they dropped the rent back down to what we paid. Serves them right for being greedy IMO.

That's ok, cos the improvements will have further increased the value of the house. No problems.

:o:lol:

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Worth remembering that rents in London will fall a lot inJan when the Housing Benefit 30% rules get applied to existing tenants, and then fall off a cliff when the benefits cap comes in.

Edit to add - every wondered what the posh folks would do if suddenly they found they couldn't get cheap cleaners, secretaries, gardeners, cooks, binmen, milkmen etc.

If said staff suddenly weren't in receipt of huge amounts of housing benefit, they would need higher wages to be able to live in central London and provide the wealthy with all those services. Much higher.

Part of the attraction of London to the wealthy is it's very fancy but you still get cheap staff... as cheap as if you were living in Manchester or Newcastle, since most of your staff costs (their accomodation) are bourne by the state/taxpayer.

Edited by RufflesTheGuineaPig

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I haven't seen any signs of gazumping.

It's just typical BBC propaganda along with an increase in daytime TV property shows to try and stimulate the market.vtongue.gif

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Worth remembering that rents in London will fall a lot inJan when the Housing Benefit 30% rules get applied to existing tenants, and then fall off a cliff when the benefits cap comes in.

Handy to know, thank you, something to look forward to if I return to the UK

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"Worth remembering that rents in London will fall a lot inJan when the Housing Benefit 30% rules get applied to existing tenants, and then fall off a cliff when the benefits cap comes in."

Well lets hope so because they are too high at the moment.

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Part of the attraction of London to the wealthy is it's very fancy but you still get cheap staff... as cheap as if you were living in Manchester or Newcastle, since most of your staff costs (their accomodation) are bourne by the state/taxpayer.

My sister in law says it would cost £70k for childcare for her 3 sprogs in Barnes. Stays at home instead.

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http://www.independent.co.uk/life-style/house-and-home/property/house-rents-soar-to-a-record-level-2298770.html

Rents in Britain have reached a record high after rising for the fourth month in a row during May.

The average cost of renting a property rose by 0.5 per cent in May to £696 per month, a £30 increase from the same time last year, according to the UK's biggest lettings agent network LSL Property Services.

The increase is attributed to rising inflation and high house prices, which lead to an increase in demand for rental properties. Many who would in the past have been in a position to buy a house are having to put their plans on hold while they raise the large deposits needed.

David Newnes, the estate agency managing director of LSL Property Services, said: "Soaring inflation has taken its toll on would-be buyers' deposit funds. The rocketing cost of living, combined with the ongoing difficulty first-time buyers are experiencing in obtaining a mortgage is increasing the number reliant on rental accommodation.

"With the fierce competition for homes, rental gazumping is becoming more commonplace and properties are being let beyond asking price."

The research comes a week after the Royal Institution of Chartered Surveyors said growing numbers of tenants were finding themselves priced out of the market as rents continued to be pushed up by strong demand and a shortage of supply

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On one of the other threads on this, Ruffles said

Worth remembering that rents in London will fall a lot inJan when the Housing Benefit 30% rules get applied to existing tenants, and then fall off a cliff when the benefits cap comes in.

Edit to add - every wondered what the posh folks would do if suddenly they found they couldn't get cheap cleaners, secretaries, gardeners, cooks, binmen, milkmen etc.

If said staff suddenly weren't in receipt of huge amounts of housing benefit, they would need higher wages to be able to live in central London and provide the wealthy with all those services. Much higher.

Part of the attraction of London to the wealthy is it's very fancy but you still get cheap staff... as cheap as if you were living in Manchester or Newcastle, since most of your staff costs (their accomodation) are bourne by the state/taxpayer.

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I have rented in the South for 7 years the same time I joined HPC, and lived in 3 different places, rents have stayed the same nominally. Sure the landlord will put up the rent by 5%, in the second year, but then you move elsewhere that's cheaper. Don't buy a load of stuff because you should know it'll be much easier to move, when (not if) that time comes.

I can still find 2005 rents on rightmove.

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One of the reasons I am buying is due to high rents E of Brighton. £1k pcm for the typical 2 BR bungalow. Do a search on RM for 3 miles around Saltdean and you get the picture--virtually 0 to rent.

I have taken my 20-25%* off the top now and settling down with a more or less permanent roof over my head after frequent moves following my STM in 2003. Its been a long time and probably no one on here would have thought the government and banksters could have dragged this crash out for so long. We are the last man standing with a paltry 20-25% down from peak whereas we need at least another 20% down to be what most of us hoped for. It will get there but it will take longer than we could have imagined in our worst nightmares. And the cost has been to bankrupt the country and millions of people more than would have been the case if they had followed the US and let it go when it should have done 2 or 3 years ago.

*Paying £220k for a house that peaked at around £290k about 3 years ago. A paltry 25% or so off. :(

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Lots of stories recently about sky high rents and it being cheaper to buy than rent. Is that desperation I smell? :lol:

I do believe so. They can't trot out the old 'miss the boat' chestnut anymore so this is the best they can do. I'm expecting this once a month for the foreseeable - at least until prices have stopped falling.

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One of the reasons I am buying is due to high rents E of Brighton. £1k pcm for the typical 2 BR bungalow. Do a search on RM for 3 miles around Saltdean and you get the picture--virtually 0 to rent.

I have taken my 20-25%* off the top now and settling down with a more or less permanent roof over my head after frequent moves following my STM in 2003. Its been a long time and probably no one on here would have thought the government and banksters could have dragged this crash out for so long. We are the last man standing with a paltry 20-25% down from peak whereas we need at least another 20% down to be what most of us hoped for. It will get there but it will take longer than we could have imagined in our worst nightmares. And the cost has been to bankrupt the country and millions of people more than would have been the case if they had followed the US and let it go when it should have done 2 or 3 years ago.

*Paying £220k for a house that peaked at around £290k about 3 years ago. A paltry 25% or so off. :(

have to agree - cannot believe the crash is so long drawn out. Had cash to buy a house (sold mine at 2004 level in 2010) and rented for 6 months (not a lot of fun having to pussy foot around a landlord). The cash was earning b.... all (in fact only paid about half the rent) so bought with no mortgage at about 20% off original asking price and no chain. Life is too short to wait for IR rises and the denial to dissipate. No wish to move and still have enough savings for a rainy day :) suited me. Really expected IRs to soar once I had spent my wad of cash :unsure:

Edited by olliegog

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  • 277 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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