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Any Evidence Of Downward Rent Pressure?

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been reading HPC for quite a while but this is my first post -

For info I'm an impatient FTB who could just about buy something aweful but isn't going to until I can afford something a bit better than a cockroach-infested hovel next door to the local crack house (not any time soon then!).


Even non HPCers generally agree that house prices are currently a ridiculous multiple of salaries.

A lot of people argue that one of the main reasons for this is BTL speculators and I can see a lot of evidence to suggest that BTL has fuelled the boom considerably - many more properties have appeared to-let that previously would have been owner-occupied e.g larger houses as well as flats.

Although I have seen a notable increase in the number and types of rental properties in my local area (Reading), I have yet to see any indications that there is downward pressure on rents due to oversupply.

Having said this rents have definately not increased even by a nominal inflationary figure.

My theory on this is that more people are having/choosing to rent because of the high prices to buy so landlords have not yet felt the full force of having their properties unfilled. This has had the effect of delaying the pain that ill thought out BTL/speculators must inevitably face.

Has any one else seen any evidence of rents going down elsewhere, or am I barking up the wrong tree?

PS. HPC is great. I am so addicted that I almost hope there isn't a crash so I can carry on reading it ;-)

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I know that the Gumtree website has reported that the average rental price for the ads placed on their site has fallen in the last few months. These are mainly London properties though.

According to letting agents rents (like house prices) are rising.

Note who is the vested interest here (ads placed on the gumtree site are free!)

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rents in nw went up recently, but have frozen since. possibly very small drops in rents if any.

current asking for rent is not sustainable for this area.

i guess they got caught up in all the btl excitement.

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