Patient London FTB Posted June 17, 2016 Share Posted June 17, 2016 Letting agencies Your Move and Reeds Rains claim rents have started to drop in many areas following the arrival of a glut of buy to let homes on the market after the passing of the stamp duty surcharge deadline. https://www.lettingagenttoday.co.uk/breaking-news/2016/6/rents-begin-to-fall-as-glut-of-homes-to-let-go-on-the-market Welcome to the fear phase Quote Link to comment Share on other sites More sharing options...
thewig Posted June 17, 2016 Share Posted June 17, 2016 You F**KING what mate? Quote Link to comment Share on other sites More sharing options...
thewig Posted June 17, 2016 Share Posted June 17, 2016 More landlords generally means higher rents you TW*T. The more of us there are, the stronger a group we are and the more power we have over our customers. We are a fearsome force when acting as one. Make no mistake, rents WILL go up. Innit. Quote Link to comment Share on other sites More sharing options...
LC1 Posted June 17, 2016 Share Posted June 17, 2016 Quote Link to comment Share on other sites More sharing options...
999house Posted June 17, 2016 Share Posted June 17, 2016 (edited) I get an email every morning from spareroom from previous searches. Can see with my own eyes that rents are coming down. good to have it backed up in empirical study. Id say about a 10-15% reduction from 12-18 months ago. You couldnt get anything decent in London under 650pcm. Now there is quite a bit around the 550 mark in decent areas. Edited June 17, 2016 by 999house Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 17, 2016 Share Posted June 17, 2016 Must be all that Brexit fear. I just hope people do the right thing and vote Remain so we can continue to squeeze the pips out of all of the flithy riff raff. Quote Link to comment Share on other sites More sharing options...
MississippiJohnHurt Posted June 17, 2016 Share Posted June 17, 2016 You F**KING what mate? Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted June 17, 2016 Author Share Posted June 17, 2016 Loving the role play thewig Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 17, 2016 Share Posted June 17, 2016 Loving the role play thewig Role a carpet or role a wallpaper? ( both beige) Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted June 17, 2016 Share Posted June 17, 2016 Must be all that Brexit fear. I just hope people do the right thing and vote Remain so we can continue to squeeze the pips out of all of the flithy riff raff. If we stay in the EU the demand side will stay the same and any changes to VAT on repairing old homes to increase supply will be impossible. Not surprisingly everyone I know who wants to make money selling their house or renting it out are hoping for a remain vote. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 17, 2016 Share Posted June 17, 2016 If we stay in the EU the demand side will stay the same and any changes to VAT on repairing old homes to increase supply will be impossible. Not surprisingly everyone I know who wants to make money selling their house or renting it out are hoping for a remain vote. No, no, no . no. The ECJ judgment this week has put a hole in the ability of EUers to claim benefits. And given an magic get-out card of 'protecting the nation states finances'. 80% of EUers do not earn enough to stay in the UK without a TV or HB top-up. The UK (and Germany + NL) no longer have to pay benefits to migrant EUers. Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted June 17, 2016 Author Share Posted June 17, 2016 Read my signature. The result of all this 'snapping up' will take time to take effect and then we'll be back to the races with an even bigger clientele looking for a roof over their heads. Possible, but at some point the trend ends and yields go so low BTL makes no sense. So you need to be able to call the end of the trend. For me, while the BTL wave is spreading out from London into the rest of the country, the trend has ended in central London. Let's see what happens next. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 17, 2016 Share Posted June 17, 2016 No mention of this on the EA websites I follow... Quote Link to comment Share on other sites More sharing options...
renting til I die Posted June 17, 2016 Share Posted June 17, 2016 You F**KING what mate? Can't these Muppet LL's follow your simple advice! 'just put the rent up, innit!' It's because of the tenant tax I tell you! Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 17, 2016 Share Posted June 17, 2016 Osborne has openly stated rents are to come down by 12% by 2020. It's goverment policy. Did landlords not get the memo? Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted June 17, 2016 Author Share Posted June 17, 2016 (edited) London rent down for 8th month in a row and 6.2% from peak now. Edited June 17, 2016 by Patient London FTB Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 17, 2016 Share Posted June 17, 2016 Rents - falling or rising - are only half the story. Its the voids that kill LLs. Quote Link to comment Share on other sites More sharing options...
thewig Posted June 17, 2016 Share Posted June 17, 2016 1 month void = just put the rents up by 1/11th 2 month void = just put the rents up by 1/5th 3 month void = just put the rents up by 1/3rd 4 month void = just put the rents up by 1/2 5 month void = just put the rents up by 5/7ths 6 month void = just double the rents, innit. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted June 17, 2016 Share Posted June 17, 2016 Letting agencies Your Move and Reeds Rains claim rents have started to drop in many areas following the arrival of a glut of buy to let homes on the market after the passing of the stamp duty surcharge deadline. https://www.lettingagenttoday.co.uk/breaking-news/2016/6/rents-begin-to-fall-as-glut-of-homes-to-let-go-on-the-market Welcome to the fear phase Reading the release the reason is “This is the equivalent of a flash flood for the rental market. Landlords escaping a much larger stamp duty bill by completing their purchases before April 1 have now finished their repairs and paperwork, with these homes to let competing for tenants in May and into June. That short-term mismatch has made May an exceptional month” I am not a renter but thanks George. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 17, 2016 Share Posted June 17, 2016 House prices will follow the rents down.......get down on it, in it. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted June 17, 2016 Share Posted June 17, 2016 Rents didn't go up at the same rate as house prices, why would they lead going down. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted June 17, 2016 Share Posted June 17, 2016 Must be all that Brexit fear. I just hope people do the right thing and vote Remain so we can continue to squeeze the pips out of all of the flithy riff raff. Renter scum have nothing to lose but their chains and their Labour MP's with their BTL portfolio's. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted June 17, 2016 Share Posted June 17, 2016 Rents didn't go up at the same rate as house prices, why would they lead going down. Absolutely.Rents are a cash market,mortgages credit,they are by their very nature,quite different. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted June 17, 2016 Share Posted June 17, 2016 1 month void = just put the rents up by 1/11th 2 month void = just put the rents up by 1/5th 3 month void = just put the rents up by 1/3rd 4 month void = just put the rents up by 1/2 5 month void = just put the rents up by 5/7ths 6 month void = just double the rents, innit. Lovin your work at the minute..... you should really consider going onto 118 and carrying on your good work there. Much as you would be taking the mickey,they'd view you as a property pro. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 17, 2016 Share Posted June 17, 2016 Rents didn't go up at the same rate as house prices, why would they lead going down. Yield.......or do you expect negative income and stagnant growth?....hoarding houses becomes a huge costly liability. Quote Link to comment Share on other sites More sharing options...
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