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Average UK rents fall for first time in more than seven years

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"Average UK rents have fallen for the first time in more than seven years, with London seeing the biggest decline, according to new data.

The slowdown in the rental sector mirrors a similar picture in the housing market, with figures showing that property prices have fallen for the third month in a row."

https://www.theguardian.com/money/2017/jun/06/uk-rents-fall-london-brexit#comment-99808485

So rents and prices drop together? But I thought BtL was interest payments from a bank.

Chortle chortle chortle.

Just need a Jezza win for some summer housing panic.

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A BTLer in my office started whinging about s24 about a month ago. Before then he'd denied all knowledge of it (even though he'd joined a brace of anti-s24 groups on social media, go figure). His cunning plan now is to raise rents. When I suggested rents are pretty much as high as they can go his response was "tenants can always be squeezed more".

Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there.

He and I have now agreed BTL'ing and S24 are off-limits topics.

 

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27 minutes ago, Freki said:

Yummy double whammy! I wonder how many BTLers are getting s**t scared.

I doubt they are aware of the consequences. Skimmed through the most popular BTL forums, there are no mention of rents falling down or even the Nationwide HPI report. They are programed to think HPI forever. 

Most of the idiots wake up when it happens to them and realize that they have reached point of no return.

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12 minutes ago, Horridbloke said:

Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there.

There's a hell of a lot of those coming onto the sales market "great investment opportunity" etc. 

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14 minutes ago, Horridbloke said:

He's investing in a cryptocurrency investment fund now, bless 'im...

:lol::lol::lol:

 

Som people just want easy money dont they.

 

Sad indictment on the UK ( US Style ) society

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My anecdote of the morning, the PA claiming house prices falling in London is a hoax by the media and that house prices can only go up.

Bubble mindset

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Oh my days, here's 118s take on the news...

https://www.property118.com/confusion-rental-market-prices-demand/99403/

"Despite the blip in Homelet’s figures above the evidence from the vast majority of Property118 readers is that long term increase in demand for rental homes combined with the attacks on Landlords reducing supply mean the long term upward trend in rental prices all things being equal is likely to continue.

However, we will have to wait and see what effects Brexit will have especially in the London area."

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3 hours ago, Horridbloke said:

A BTLer in my office started whinging about s24 about a month ago. Before then he'd denied all knowledge of it (even though he'd joined a brace of anti-s24 groups on social media, go figure). His cunning plan now is to raise rents. When I suggested rents are pretty much as high as they can go his response was "tenants can always be squeezed more".

Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there.

He and I have now agreed BTL'ing and S24 are off-limits topics.

 

Do you know when he bought them and what leverage he has?.Is he interest only on a high LTV etc?.A BTLer in an office.Says it all really.If he doesnt have the BTL and loans in a Ltd company he will be glad when rents tank,he will probably be renting.

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2 hours ago, Horridbloke said:

He's investing in a cryptocurrency investment fund now, bless 'im...

A fool and his (borrowed) money........

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31 minutes ago, Lavalas said:

 

"Despite the blip in Homelet’s figures above the evidence from the vast majority of Property118 readers is that long term increase in demand for rental homes combined with the attacks on Landlords reducing supply mean the long term upward trend in rental prices all things being equal is likely to continue.

 

Won't the terror attacks reduce demand in London?  I never have liked London (although I do like many other world cities)...these atrocities don't make it more appealing as a place to live and work...if you have a choice why live in London or the UK?

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48 minutes ago, Lavalas said:

Oh my days, here's 118s take on the news...

https://www.property118.com/confusion-rental-market-prices-demand/99403/

"Despite the blip in Homelet’s figures above the evidence from the vast majority of Property118 readers is that long term increase in demand for rental homes combined with the attacks on Landlords reducing supply mean the long term upward trend in rental prices all things being equal is likely to continue.

However, we will have to wait and see what effects Brexit will have especially in the London area."

Brilliant. They're still in the denial phase then. I love the way that a load of BTLers ranting on a forum is called 'evidence', but hey, let's not question these things too much.

Anyway, I shall fix it for them:

"Despite Homelet’s data showing an annual fall in rental prices, we've convinced ourselves it's just a blip by saying 'it's just a blip', and the vast majority of Property118 readers plan to mitigate the falls by sicking their fingers in their ears and shouting 'tenant tax, tenant tax' at ever increasing volume until a long term increase in demand for rental homes materialises out of tenants realising that over-leveraged landlords are the victims in all this, and agreeing to pay more rent.

However, we will have to wait and see if we can retrospectively blame Brexit for the fact that we're all probably f****d."

 

 

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1 hour ago, Wayward said:

Won't the terror attacks reduce demand in London?  I never have liked London (although I do like many other world cities)...these atrocities don't make it more appealing as a place to live and work...if you have a choice why live in London or the UK?

In all honesty the weekends been shit and yesterday was very subdued, but atmosphere in the office and on the commute is very much business as usual. This is despite several staff members socialising or even living in the area affected. London's always been a target and always will be but it affects tourism more than it affects demand to live and work here.

I won't bother to give London the hard sell though as it's very much like marmite in that people either get it or they don't.

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4 hours ago, Horridbloke said:

A BTLer in my office started whinging about s24 about a month ago. Before then he'd denied all knowledge of it (even though he'd joined a brace of anti-s24 groups on social media, go figure). His cunning plan now is to raise rents. When I suggested rents are pretty much as high as they can go his response was "tenants can always be squeezed more".

Portfolio is several low-end houses in Plymouth. He lives three hours drive away. Plenty of scope for problems there.

He and I have now agreed BTL'ing and S24 are off-limits topics.

 

have you consider adding his work email address in mailing lists for bankruptcy and debt management firms ?

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2 hours ago, Wayward said:

Won't the terror attacks reduce demand in London?  I never have liked London (although I do like many other world cities)...these atrocities don't make it more appealing as a place to live and work...if you have a choice why live in London or the UK?

I think so many things working against London HPI and rents now. Brexit, terrorist attacks, just general negative sentiments, crap currency and of course the shitty weather :lol:

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1 hour ago, fru-gal said:

I think so many things working against London HPI and rents now. Brexit, terrorist attacks, just general negative sentiments, crap currency and of course the shitty weather :lol:

but we have successful Multiculturalism and virtual Grand theft auto on the streets.  

 

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On 6/6/2017 at 0:39 PM, adarmo said:

A fool and his (borrowed) money........

Oh good grief, apparently they (the investors) are collaborating on what amounts to a pump and dump scheme...

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