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House Price Crash Forum

What's Launching Rents Skywards Now?

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In my experience, EA's manage most of the stock in London. LL's are absent. Fine in the last 15yrs of HPI, when capital gains meant they were making money, YoY.

Now, there are 1000s of empty flats all looking for tenants, but the EA's still want to control and keep rents high (ergo, their comms also).

LHA reductions will help bring down rents for the working person, but this will only impact in the longer term. Maybe 12-18months from now?

As for "Easily finding someone who will" ? Looking at sites such and Gumtree, Propertfinder, etc suggests otherwise.

I've a relative looking for a 1 bed in London. There are 100s of flats to rent, many not rented out for 3-6 months and still empty. Why ? Seems to be EA's reckon the rent should be £270 - £300 p/w (ie. £1100-1400 pcm). Relative has now taken to emailing EA's asking if the LL will rent for £850pcm. A couple of EA's have said they will ask the LL. The others reply that this is the "market rate" :lol:

From experience I'd agree with that and Im a landlord (albeit one whose renting out his house out whilst working abroad). I really had to badger the agent to lower the rent to get the right tenant. As a result of them overpricing it it cost me 3 months rent through a void :angry: . They wanted £950. We ended up agreeing on £800 pcm

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Previously pleased to see rents falling, now where I am (S Essex) rents are up in most cases. Ask anyone locally, they confirm. I asked a neighbour, he said with glee and almost jumping for joy as he said it "Supply and demand" (turns out he is a BTL with property in Wales)


Price of most things seems to be rising - but cannot understand where the money is coming from, and where it will all end, surely it has to go pop?

I work fairly close to you (Greenhithe, north Kent) and it's a similar story here - rents are skyrocketing despite an increase in supply (building work has continued unabated here despite the recession). I can only guess it's due to London renters being priced out and forced to move further afield. I was renting in the village until September 2010, when I moved in with a relative to save more money. I'm regretting it now and very depressed because rents have risen so much :(

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  • 1 month later...

Estate agents are the ROOT OF ALL EVIL where all this goes/

They are public enemy no 1.

I saw places that are on the market 6 monts now and still no tenants.

Were in a situation where ' The child ' - the estate agent has a piece of birthday cake and wont share it , he wont lower his expectations and GREEDS his master and money and the mentality i hear from estate agents when i ask them is

' well if we cant rent at that price then it will just saty on the market until it does. They also state that ' in the end people have to live somewhere and we control pricing on the majority of local rents ' and people will just have to pay or be homeless.

THATS the real mentality.

They wont lower rents until they are almost BANKRUPT and i dream of the day.

Estate agents are the most EVIL force in this nation.

The social and class divides they are maintaining and making Bigger are by far the most destructive thing happening in our nation and like all destructive force it will Oneday turn back on those who created it.

One day the housing market will destroy itself as its Evil.

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  • 433 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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