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Einstein71

Rising Rents Delay Crash

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When I STR'd back in 2003 I had noticed a shift taking place, slowly a mortgage had become a lot more expensive than rent. I was renting a 2 bedroom flat in London at £650PCM and yet they were then selling for a crazy £180,000. The pace of rent hadn't caught up with the sudden explosion of houseprices between 2000 -2003, plus a lot of the landlords back then were professionals and had bought the property pre boom so could still afford to rent them out at a reasonabe rent.

Over the years I rented 4 bedroom detached houses, penthouse flats, half a manor house etc and for a rent that worked out less than half of what a mortgage would cost me on the same property. It was as the Americans term " a no brainer", especially as the market flatlined around 2005 so Cap Gains were removed from the equation, who would buy a house in such conditions!!!

Unfortunately a few months ago my landlord decided to sell up and so I was given notice (the house sold within 3 days to a cash buyer £550k - a 3 times divorced woman in her mid 50's). I rolled up my sleeves and clicked on Rightmove and was shocked at what I saw. I had been out of the rental market for 2 years but this change I saw was HUGE. Rents had risen on average by about 25%. I usually look at around the £1,200 - £1,500pcm price bracket but it seemed this was now occupied by 2 bed flats, 3 bed ex council semi's. What I wanted was now coming in at £2,000pcm. I toured the letting agents but it seemed everything I liked had gone and as time went by everything I saw literally got snapped up within hours.

In Connells I was lazily browsing the sales board whilst waiting for the lettings guy to photocopy something and I saw a nice little house up for sale so I enquired about it, mainly for voyeuristic reasons. It was on for £265k, had been on the market for 3 months, a buyer had fallen through just a few weeks ago. Anyway I have about £50k savings so I was working out the cost of a mortgage if I managed to get it for £230k and it worked out at about £650pcm. This was a house that if up for rent would probably be £1,500pcm no problem. On a 5 year fix it would be about £800pcm.

Anyway I worked out that if rents just stayed where they are at the moment then over 5 years I would save £50k. This would allow me to own my own place and if prices were to drop by about 25% I would still break even.

I then thought things through on a macro level. If volumes persist at record lows then you have this build up of what was traditional FTB's. These people cant stay at home forever. These people will populate the lower end rental and then in a few years you end up with 70% of 30-40 yr olds still renting and although these people are earning £50k+ per year they simply cannot save £40k+ deposits so they can afford £1500pcm but cannot afford to buy. This rental market is just growing and growing and so pressures on people like me renting will just slowly increase.

So I suppose in conclusion - I DONT see Interest Rates rising in the next 2-3 years at least and then by very little (You can see the banks agree with their reduced 5 yr fixes), obvious economic factors are being completely ignored. I DO see rental demand increasing year after year for the forseeable. I DO see rents increasing. I DONT see mortgage availability being relaxed. I DO see stock markets sliding. This makes me think that surely, and heaven forbid I hope I am wrong, that the Crash wont really happen because if lending remains so cheap and rents rise then houses do offer a genuine long term investment opportunity.

Am I wrong? Even if your asset reduces in value by 25% if you are clearing £500pcm after all expenses such as voids/agency costs/repairs are taken into account on an investment of £50k why would this matter to you?

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When I STR'd back in 2003 I had noticed a shift taking place, slowly a mortgage had become a lot more expensive than rent. I was renting a 2 bedroom flat in London at £650PCM and yet they were then selling for a crazy £180,000. The pace of rent hadn't caught up with the sudden explosion of houseprices between 2000 -2003, plus a lot of the landlords back then were professionals and had bought the property pre boom so could still afford to rent them out at a reasonabe rent.

Over the years I rented 4 bedroom detached houses, penthouse flats, half a manor house etc and for a rent that worked out less than half of what a mortgage would cost me on the same property. It was as the Americans term " a no brainer", especially as the market flatlined around 2005 so Cap Gains were removed from the equation, who would buy a house in such conditions!!!

Unfortunately a few months ago my landlord decided to sell up and so I was given notice (the house sold within 3 days to a cash buyer £550k - a 3 times divorced woman in her mid 50's). I rolled up my sleeves and clicked on Rightmove and was shocked at what I saw. I had been out of the rental market for 2 years but this change I saw was HUGE. Rents had risen on average by about 25%. I usually look at around the £1,200 - £1,500pcm price bracket but it seemed this was now occupied by 2 bed flats, 3 bed ex council semi's. What I wanted was now coming in at £2,000pcm. I toured the letting agents but it seemed everything I liked had gone and as time went by everything I saw literally got snapped up within hours.

In Connells I was lazily browsing the sales board whilst waiting for the lettings guy to photocopy something and I saw a nice little house up for sale so I enquired about it, mainly for voyeuristic reasons. It was on for £265k, had been on the market for 3 months, a buyer had fallen through just a few weeks ago. Anyway I have about £50k savings so I was working out the cost of a mortgage if I managed to get it for £230k and it worked out at about £650pcm. This was a house that if up for rent would probably be £1,500pcm no problem. On a 5 year fix it would be about £800pcm.

Anyway I worked out that if rents just stayed where they are at the moment then over 5 years I would save £50k. This would allow me to own my own place and if prices were to drop by about 25% I would still break even.

I then thought things through on a macro level. If volumes persist at record lows then you have this build up of what was traditional FTB's. These people cant stay at home forever. These people will populate the lower end rental and then in a few years you end up with 70% of 30-40 yr olds still renting and although these people are earning £50k+ per year they simply cannot save £40k+ deposits so they can afford £1500pcm but cannot afford to buy. This rental market is just growing and growing and so pressures on people like me renting will just slowly increase.

So I suppose in conclusion - I DONT see Interest Rates rising in the next 2-3 years at least and then by very little (You can see the banks agree with their reduced 5 yr fixes), obvious economic factors are being completely ignored. I DO see rental demand increasing year after year for the forseeable. I DO see rents increasing. I DONT see mortgage availability being relaxed. I DO see stock markets sliding. This makes me think that surely, and heaven forbid I hope I am wrong, that the Crash wont really happen because if lending remains so cheap and rents rise then houses do offer a genuine long term investment opportunity.

Am I wrong? Even if your asset reduces in value by 25% if you are clearing £500pcm after all expenses such as voids/agency costs/repairs are taken into account on an investment of £50k why would this matter to you?

Prices doubled under Labour due to two factors:

1. loose credit

2. further restriction of supply as demand increased due to immigration and changes in living habits (single working women paying their own way, more divorces etc)

The restriction of supply is the big one. The market will always be underpinned by the fact that you cannot build your own home on a piece of land even if you think prices have detached from the true cost to build. The lack of supply moves us from a decision of whether to build our own or buy an existing property into a very different scenario. Now when buying we must ask: am I willing to give up more of my life in order to own this property than other people? Until you can buy at or near the cost to build you are always pitted against your fellow citizens. The only people who always collect in this arrangement are banks and the government.

Either you can build a house at cost in your own country or you are essentially a serf, whether you are renting or mortgaging your life away and then renting back from a bank.

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Am I wrong? Even if your asset reduces in value by 25% if you are clearing £500pcm after all expenses such as voids/agency costs/repairs are taken into account on an investment of £50k why would this matter to you?

I think you should take the plunge and stop listening to the negative nellies on here

As an anecdote we STRd in 1792 and the wife still hasnt stopped giving me earache about it yet

Do you really want to be sitting on here in a couple of hundred years time discussing the news topics of the day such as whether Buck Rogers is really nailing Wilma and still waiting for interest rates to go up

Edited by Tamara De Lempicka

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Prices doubled under Labour due to two factors:

1. loose credit

2. further restriction of supply as demand increased due to immigration and changes in living habits (single working women paying their own way, more divorces etc)

Another key factor was the long-term shift from high interest rates to low ones.

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I think you should take the plunge and stop listening to the negative nellies on here

As an anecdote we STRd in 1792 and the wife still hasnt stopped giving me earache about it yet

Do you really want to be sitting on here in a couple of hundred years time discussing the news topics of the day such as whether Buck Rogers is really nailing Wilma and still waiting for interest rates to go up

220 years? Mate - my sympathies. That woman can hold a grudge.

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When I STR'd back in 2003 I had noticed a shift taking place, slowly a mortgage had become a lot more expensive than rent. I was renting a 2 bedroom flat in London at £650PCM and yet they were then selling for a crazy £180,000.

Bit off topic but are you sure about 650pcm? I rented a nice room near Clapham Junction in 2002 for £500PCM and one bed flats were being advertised for £180 a week. Pretty sure you were looking at well over £200pw for two beds back then. Unless my aluminium saucepans have finally given me Alzheimers.

Like I said, waaaay off topic but worth a Sunday trip down memory lane :-)

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Another key factor was the long-term shift from high interest rates to low ones.

Very true - that was under "loose credit" but I should have made that explicit.

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So I suppose in conclusion - I DONT see Interest Rates rising in the next 2-3 years at least and then by very little (You can see the banks agree with their reduced 5 yr fixes), obvious economic factors are being completely ignored. I DO see rental demand increasing year after year for the forseeable. I DO see rents increasing. I DONT see mortgage availability being relaxed. I DO see stock markets sliding. This makes me think that surely, and heaven forbid I hope I am wrong, that the Crash wont really happen because if lending remains so cheap and rents rise then houses do offer a genuine long term investment opportunity.

Am I wrong? Even if your asset reduces in value by 25% if you are clearing £500pcm after all expenses such as voids/agency costs/repairs are taken into account on an investment of £50k why would this matter to you?

My rent is just shy of £700 PCM. The sort of house I would buy would cost me about £1000 PCM (£580 I/O). Note that I would buy something one bedroom bigger than I rent currently.

Given that I'd be buying around the £250K mark, then a 1% annual fall is therefore about £200 PCM.

Now, I realise inflation, etc, makes this calculation slightly less clear cut, but my gamble at the moment is that prices will fall 1-3% for 2 more years, and wages will only rise 1 or 2% for the next couple of years. After that all bets are off.

So, my conclusion, renting is my preferred option at present. (Though if I were kicked out and had to re-rent, my rent might go up 10% or more.)

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I think you should take the plunge and stop listening to the negative nellies on here

:lol:

And I agree actually, the quicker we bring forward demand from people like yourself (i.e. the minority of buyers with a deposit large enough to make buying worthwhile) then the sooner we can get down to the longer-term business of a demand drought (in terms of those with the desire and ability to pay), and prices falling accordingly.

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If the Govt has recognised people are living longer now with 25% of 18 year olds expected to live to be over 100yr's then I'm sure the banks have realised that 25yr mortgages need to be lengthed to say 50yr morthgages.

Yes it is possible to extend the life of a mortgage. I'm not sure that doubling it is the answer.

Banks do not like to lend past retirement, a 25-year-odl taking on a 50 year mortgage therefore has to imagine working to 75.

There is also a diminishing benefit when you extend the life of a mortgage beyond 25 years. In the early years of a repayment mortgage most of the payments go on interest, extending the term does not significantly reduce repayments (it is also relatively easy to cut the term to 20 years).

On an endowment policy I would guess that the insurance companies would take fright at the prospect of a 50-year policy. Even with extended lifespan there are stil la lot of people who die by 60.

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Rising rents are a normal part of every HPC.

Many on here expected falling prices and falling rents. It doesn't work out like that.

Property will bottom on yields of 10-15%. i.e. rents will rise over the next 5 years and prices will fall.

Edited by ringledman

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Am I wrong? Even if your asset reduces in value by 25% if you are clearing £500pcm after all expenses such as voids/agency costs/repairs are taken into account on an investment of £50k why would this matter to you?

Which is what most people think and one of the things propping up prices.

The fact is most people would rather not have to contend with the UK's miserable tenancy system. You seem to have had a decent landlord for a while, if you'd had two years of 6 month ASTs, Section 21s issued at the same time as the tenancies, hundreds of pounds in agent set up fees and idiot BTL slumlords mucking you around, you wouldnt even care about 25% depreciation.

If you're settled and you can afford it I would go with the buying option.

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I had been out of the rental market for 2 years but this change I saw was HUGE. Rents had risen on average by about 25%. I usually look at around the £1,200 - £1,500pcm price bracket but it seemed this was now occupied by 2 bed flats, 3 bed ex council semi's. What I wanted was now coming in at £2,000pcm. I toured the letting agents but it seemed everything I liked had gone and as time went by everything I saw literally got snapped up within hours.

That seems strange. It used to be the case that high-end properties rented for about 40% less than the mortgage would cost. It was believed (or at least suggested) on here that most people funding that sort of rent were doing it out of taxed interest, and so the break-even point for them needed to reflect the lack of a tax on the benefit derived from owning a home. At the lower end the cost of rent and mortgage were often very similar, not least because BTL buyers would snap up anything where the rent was higher.

I don't know if many others have seen rents rising in their area and price bracket, but I haven't.

In Connells I was lazily browsing the sales board whilst waiting for the lettings guy to photocopy something and I saw a nice little house up for sale so I enquired about it, mainly for voyeuristic reasons. It was on for £265k, had been on the market for 3 months, a buyer had fallen through just a few weeks ago. Anyway I have about £50k savings so I was working out the cost of a mortgage if I managed to get it for £230k and it worked out at about £650pcm. This was a house that if up for rent would probably be £1,500pcm no problem. On a 5 year fix it would be about £800pcm.

This does not sound at all usual. Even assuming the seller wants £250k, it's still gross yield of 7.2%. It genuinely would make sense to buy under those circumstances, but I very much doubt these figures reflect the wide market.

Anyway I worked out that if rents just stayed where they are at the moment then over 5 years I would save £50k. This would allow me to own my own place and if prices were to drop by about 25% I would still break even.

You can do amazing things if your deposit yields >7% tax free ...

I then thought things through on a macro level. If volumes persist at record lows then you have this build up of what was traditional FTB's. These people cant stay at home forever. These people will populate the lower end rental and then in a few years you end up with 70% of 30-40 yr olds still renting and although these people are earning £50k+ per year they simply cannot save £40k+ deposits so they can afford £1500pcm but cannot afford to buy. This rental market is just growing and growing and so pressures on people like me renting will just slowly increase.

This sounds very naive. Only a few percent of people earn 50k+ in today's money, and will generally come from backgrounds where a deposit is not a huge problem as they will often receive bonuses and be able to borrow from parents. Outside London, 50k is still towards the top for most middle class professionals (which is why everyone complains about GPs on 100k, seeing as they come from the same part of population that is lucky to get 50k in other jobs). Things are different in London, but even in the city 50k is roughly the average skewed by lots of high-earners, and well over half of the people will be on less than that (then subtract the cost of commuting). While I thought the salary aspect worth commenting on, it is irrelevant. BTL provides a reliable mechanism for putting a floor under prices and a ceiling on rents. It is for that reason we will not see rental yields going out of control. I would expect something like 10 year gilt + 1% lender's margin + 1% maintentance + 1% voids and other overheads to be close to a break-even point.

So I suppose in conclusion - I DONT see Interest Rates rising in the next 2-3 years at least and then by very little (You can see the banks agree with their reduced 5 yr fixes), obvious economic factors are being completely ignored. I DO see rental demand increasing year after year for the forseeable. I DO see rents increasing. I DONT see mortgage availability being relaxed. I DO see stock markets sliding. This makes me think that surely, and heaven forbid I hope I am wrong, that the Crash wont really happen because if lending remains so cheap and rents rise then houses do offer a genuine long term investment opportunity.

Am I wrong? Even if your asset reduces in value by 25% if you are clearing £500pcm after all expenses such as voids/agency costs/repairs are taken into account on an investment of £50k why would this matter to you?

I don't see where your predictions come from, but I note that you are used to living in >500k houses and can now get something suitable for 250k. In your shoes I would quadruple-check the figures are correct and there is nothing horribly wrong with the house, then immediately buy it before someone else does.

In general terms, you may want to ponder just what was so different in Japan. They had low interest rates and lots of people wanting to live somewhere, yet somehow the prices kept going down for over a decade. But the choice you say you have is very clear.

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I don't see where your predictions come from, but I note that you are used to living in >500k houses and can now get something suitable for 250k. In your shoes I would quadruple-check the figures are correct and there is nothing horribly wrong with the house, then immediately buy it before someone else does.

love it ....

:D:D:D

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Bit off topic but are you sure about 650pcm? I rented a nice room near Clapham Junction in 2002 for £500PCM and one bed flats were being advertised for £180 a week. Pretty sure you were looking at well over £200pw for two beds back then. Unless my aluminium saucepans have finally given me Alzheimers.

Like I said, waaaay off topic but worth a Sunday trip down memory lane :-)

Hiya, it was the good old days that is for sure, all went down hill from there. I actually upgraded from a £500pcm very large one bedroom flat I had rented since 1996 to buy a 1 bed flat for £85,000 in 2000. It was in SE3 - Blackheath, so probably a little cheaper than Clapham Junction but still 15mins to London Bridge on the mainline and 20mins CharingX, just didnt have a Tubeline.

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I don't know where the OP lives exactly but I think it is a myth that rents have risen in real terms, unless perhaps you are living in areas like London, Edinburgh and exceptional examples elsewhere. In most areas there is no doubt that rents have either fallen in real terms or remained static over the last five years. My own rent has diminished yet the space I have is better. Thousands of flats and houses in my, and other, areas have been reduced in the last three months.

If I took out a mortgage on current terms, let alone if interest rates were to rise (and they will), my monthly payments would be between one and a half times and double what I would pay in rent.

Edited by VacantPossession

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I don't know where the OP lives exactly but I think it is a myth that rents have risen in real terms, unless perhaps you are living in areas outside like London, Edinburgh and exceptional examples elsewhere. In most areas there is no doubt that rents have either fallen in real terms or remained static over the last five years. My own rent has diminished yet the space I have is better. Thousands of flats and houses in my, and other, areas have been reduced in the last three months.

In my part of the NW rents have been static for the past 4 years in nominal terms.

Rent in the flat next to mine over the past four years has been.. £420pm, £395pm, £450pm.. though the latest one is a bit odd as it was advertised at £425 before a DSS guy inexplicably decided to pay over the odds.

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I don't know where the OP lives exactly but I think it is a myth that rents have risen in real terms, unless perhaps you are living in areas like London, Edinburgh and exceptional examples elsewhere. In most areas there is no doubt that rents have either fallen in real terms or remained static over the last five years. My own rent has diminished yet the space I have is better. Thousands of flats and houses in my, and other, areas have been reduced in the last three months.

If I took out a mortgage on current terms, let alone if interest rates were to rise (and they will), my monthly payments would be between one and a half times and double what I would pay in rent.

Mid Sussex. I can only really go on my experiences. In my area lower end 1 bed and 2 bed flats are still staying static around £750 - £900 but because it is an area with good schools and just 40 mins into London, 20mins into Brighton it attracts families and those looking for an escape from both of those cities. As a result there is a large jump to a 3 bed ex council semi in the estate part of Town that is now renting for around £1200 because it has a postage stamp garden. For a half decent 3 bed semi in a decent part of town you are going above £1500pcm.

The house I was looking at which I reckon you could get for £230k is a fairly small 3 bed semi, but in a nice area. For some reason these kind of properties are selling quite cheaply but renting for quite a wedge. The same goes for decent 2-3 bed flats which are a little different.

It is as if there has been a huge swell of 30-50yr olds with a joint income of £50k+ coming into the rental market and as a result those "classier" properties are in high demand and the rent is rising accordingly. What I was saying was that 10 years ago renting was only really the thing to do if you were pretty poor or under 30, as a result I always found as a 30+ person with a decent wage I could pay £1000+ pcm and get almost anything. From what I can tell at this current point in time my niche market has been flooded.

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I think all this talk of ‘rising rents’ is mainly bull$hit. We always seem to hear panic stories about how rents are rising once house prices start to teeter/fall.

All I know is that at the start of 2004 I rented a two bedroom apartment in Reading for £725 PCM. I looked on Rightmove the other day and there was an identical apartment in the same block being listed for £775 PCM.

That represents a stunning 7% increase over nearly 8 years.

Rents may be rising in London. I have no knowledge of that market. But they sure as hell are not ‘flying up’ all over the South East…..

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That seems strange. It used to be the case that high-end properties rented for about 40% less than the mortgage would cost. It was believed (or at least suggested) on here that most people funding that sort of rent were doing it out of taxed interest, and so the break-even point for them needed to reflect the lack of a tax on the benefit derived from owning a home. At the lower end the cost of rent and mortgage were often very similar, not least because BTL buyers would snap up anything where the rent was higher.

Yes I fully agree, that was always the the way it worked. I think a combination of rising rents and cheaper mortgages have tipped the balance the other way. I see rents have risen mainly because demand for these high end properties has increased substantially, mainly because people in the older age bracket are earning the money but just cannot save up a decent deposit. The wife demands luxury and so good properties are getting snapped up

I don't know if many others have seen rents rising in their area and price bracket, but I haven't..

You must be very lucky or live in an area with a declining population

This does not sound at all usual. Even assuming the seller wants £250k, it's still gross yield of 7.2%. It genuinely would make sense to buy under those circumstances, but I very much doubt these figures reflect the wide market..

it seems very usual for Mid Sussex

This sounds very naive. Only a few percent of people earn 50k+ in today's money

I meant £50k joint income (Very normal), which works out at about £3000 per month, as a result £1500 is seen as about right for rental

I don't see where your predictions come from, but I note that you are used to living in >500k houses and can now get something suitable for 250k. In your shoes I would quadruple-check the figures are correct and there is nothing horribly wrong with the house, then immediately buy it before someone else does.

The house I am about to be thrown out of is what they class a "Turner" property in a very nice close, 3 bed semi but in my eyes nothing spectacular. Sold to a woman who loves the original windows and features but she has paid around £150k over the odds. The one next door which in fact is a little bigger sold for £345k in 2005 so that gives you some idea about how crazy it was!! All of a sudden he is looking to put his house on the market next door as well and I dont blame him if he can find another mug like that. Anyway the house for £265k is in an area I know well and actually quite like but it is about 1/2 mile further from the station, it is a litttle quirky and would definitely get snapped up if it was being rented but nothing in this price bracket is being sold at the moment, I think chains are collapsing because people are struggling to get mortgages.

In general terms, you may want to ponder just what was so different in Japan. They had low interest rates and lots of people wanting to live somewhere, yet somehow the prices kept going down for over a decade. But the choice you say you have is very clear.

LOL Christ. Listen I have been a HPC member for more than 5 years, I have probably used the Japan comparison in more arguments than you can imagine. I have been talking about it and talking about it and do you know what I used to believe it but now I think it is just a comfort blanket. It is something I used to convince myself that supply and demand was irrelevant, I used it to prove to myself that Interest Rates were irrelevant. I look around and I genuinely think we will see price reductions but I also see an ever growing number of people wanting to live in this area and no houses being built. If sales figures fall off a cliff then numbers renting shoot up like a rocket, in the last recession in 89' this was kind of irrelevant because Interest Rates were double figures so mortgage/renting were even stevens, I dont see the BoE ever being brave enough to be the ones to start increasing IR's unless we get back to boom times again, too many people walking the tightrope. Low IR's make it difficult to see why people wouldnt want to move money out of savings/stocks into property and extra cheap mortgages. I really do see a rentals bubble coming with returns topping 10%+ for most LL's.

I hate BTL by the way, it is a hideous practise. This doesn't stop me admiring the possible returns and the long term trend for renting which will invariably lead to a slow upward curve in rental costs. Look at the Chinese guy who owns 2000 properties already in London, think how he is underpinning prices. He must see the bubble that I think is about to appear in rental in the next 9 months.

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I think all this talk of ‘rising rents’ is mainly bull$hit. We always seem to hear panic stories about how rents are rising once house prices start to teeter/fall.

All I know is that at the start of 2004 I rented a two bedroom apartment in Reading for £725 PCM. I looked on Rightmove the other day and there was an identical apartment in the same block being listed for £775 PCM.

That represents a stunning 7% increase over nearly 8 years.

Rents may be rising in London. I have no knowledge of that market. But they sure as hell are not ‘flying up’ all over the South East…..

PLEASE read my posts, I do mention that 1 and 2 bed flats are remaining pretty static at around £750 -£900 in my experience

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PLEASE read my posts, I do mention that 1 and 2 bed flats are remaining pretty static at around £750 -£900 in my experience

Reminds me of the bottom of the last crash. Not renting but buying . The 3 bed semis had fallen into the reaches of the FTB's and they jumped over the one and two bed flats straight into the houses. As the prices started to rise for houses the flats remained at the bottom for quite a while.

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I'm going through the same calculations as the OP

The numbers are as follows.

If I was to buy my current rental (not an option) then with my large deposit it would cost me £740pcm on an IO mortgage.

My rent has been static since 2003 and is £1400 pcm. So I'd save £660 pcm if I bought it. I would need to pay probably £1600 pcm if I now moved to another rental.

When I first bought I was getting £600 pcm in interest on my STR deposit.

The maths are simple, buying a house is much cheaper in terms of monthly outgoings. Provided someone has a large enough deposit, its nearly a no-brainer today to buy rather than to rent so long as you are not in a postcode or kind of property that will fall 50% in the next 5 years.

I would not apply this logic to buying a flat over a kebab shop in a riot prone urban area, but for nice houses... I'm thinking of getting one myself.

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  • 276 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% +
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      • Even
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      • up 5%



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