pipllman Posted July 15, 2015 Share Posted July 15, 2015 (edited) Asking rents outside London jumped by 2.7% in the second quarter of 2015, compared to the capital’s smaller but still substantial increase of 2.0% South East leads the way with a 4.1% increase, and rents are up across all regions except Wales (-4.1%) and North East (-0.5%) In the past year tenant demand for rental property has hit an all-time high nationally with a 52% increase in email enquiries, the East of England seeing the highest increase, up by 64% - Tenant demand hotspots are Essex towns of Grays and Southend - Within London highest demand in more affordable areas of Bexleyheath, Sidcup and Carshalton Highest rental growth year-on-year outside London found in Bushey in Hertfordshire (+21%) and Deal in Kent (+13%)3, and in Battersea (+14%) within London ...The substantial rent rise this quarter will offer some encouragement for the buy-to-let sector, following the summer Budget’s announcement of a clampdown on tax relief... http://www.rightmove.co.uk/news/articles/property-news/rent-rise-surge-as-rest-of-country-outstrips-london-%E2%80%93-high-tenant-demand-growing-most-in-the-east Edited July 15, 2015 by pipllman Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted July 15, 2015 Share Posted July 15, 2015 There is only one key piece of data in the whole press release. It's the first word. *Asking* rents. First time I've ever heard that term used by a VI like rightmove. Interesting. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted July 15, 2015 Share Posted July 15, 2015 The last thing we need after the budget announcements is some new VI index hyping up rents to potential BTLers (and the MSM picking up on it and conveniently ignoring that magic word asking which makes all the difference to the data). Let's give this new RM initiative all the attention it deserves - ie, absolutely none. Quote Link to comment Share on other sites More sharing options...
pipllman Posted July 15, 2015 Author Share Posted July 15, 2015 From the report (my underline) "Rightmove’s first quarterly Rental Trends Tracker shows demand for rental property is at an all-time high" Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted July 15, 2015 Share Posted July 15, 2015 Let them have their deluded media orgasm. Doesnt change the facts one tiny bit :-) If it pulls in a few more people at the top who didn't do their research so be it. Every market needs its greatest fool. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted July 15, 2015 Share Posted July 15, 2015 The last thing we need after the budget announcements is some new VI index hyping up rents to potential BTLers (and the MSM picking up on it and conveniently ignoring that magic word asking which makes all the difference to the data). Let's give this new RM initiative all the attention it deserves - ie, absolutely none. Quote Link to comment Share on other sites More sharing options...
richc Posted July 15, 2015 Share Posted July 15, 2015 The biggest increase in asking rents in London is in Battersea, where there's been a huge increase in supply of high end flats along the river. I wonder how they account for quality mix in their starts. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted July 15, 2015 Share Posted July 15, 2015 The biggest increase in asking rents in London is in Battersea, where there's been a huge increase in supply of high end flats along the river. I wonder how they account for quality mix in their starts. If it`s anything like the asking prices for houses they don`t Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted July 15, 2015 Share Posted July 15, 2015 The biggest increase in asking rents in London is in Battersea, where there's been a huge increase in supply of high end flats along the river. I wonder how they account for quality mix in their starts. I'm quite sure if one had paid £600k for a off plan 1 bed apartment, one would want quite a lot in rent once its erected. Best of luck getting ones 'asking' price. Dublin 2005-2007 anyone? The stats will just average things. Again with the skewing VI rubbish. It would be an interesting thing to see how much of that supply is home to anything other than dust. Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 15, 2015 Share Posted July 15, 2015 If it`s anything like the asking prices for houses they don`t +1 Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 15, 2015 Share Posted July 15, 2015 (edited) Part of the references part of getting a rental is the earnings v rent section. If you dont meet the criteria, they dont get the insurance and you dont get the place at that price, so, either the asking is negotiated down or the tenant walks. simples. Looking back at 6 years of no rises here, but there is no way any sales organisation can possibly know. Only the taxman could know, and he aint telling. Edited July 15, 2015 by Bloo Loo Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted July 15, 2015 Share Posted July 15, 2015 What skanky dog shit. Quote Link to comment Share on other sites More sharing options...
thombleached Posted July 15, 2015 Share Posted July 15, 2015 What skanky dog shit. I'm going to try my best to work that line into at least one conversation today Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted July 15, 2015 Share Posted July 15, 2015 There is only one key piece of data in the whole press release. It's the first word. *Asking* rents. First time I've ever heard that term used by a VI like rightmove. Interesting. Always good to check the 'most reduced' on zoopla. I just found 31 reductions on 2 bed flats £1k PCM to £2k PCM in Sw17, starting from about 13 % down. Quote Link to comment Share on other sites More sharing options...
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