fellow Posted January 17 Share Posted January 17 Number of homeowners renting a room jumps 89%... as average lodger now pays £739 a month https://www.dailymail.co.uk/property/article-12968619/Number-homeowners-renting-room-jumps-89-average-lodger-pays-739-month.html Quote The number of homeowners taking in a lodger has jumped 89 per cent in three years, according to new data. The findings by the flatshare site SpareRoom found that numbers had increased by this amount when comparing January 2024 with January 2021. It comes as the average amount a lodger pays to rent a room increased to £739 per month at the end of 2023, up from £658 at the end of 2022, a rise of 12 per cent. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 17 Share Posted January 17 Everything is available to rent, back garden and front drives.......divide a bedroom into two, two rooms for the price of one, tax free, boomerang kids helping out with bills and cost of debt.....live in carers, cheaper than renting privately, a job and a home in one. Quote Link to comment Share on other sites More sharing options...
Insane Posted January 17 Share Posted January 17 A friend of my Brother is currently renting a room in a shared house in East London he is paying £950 a month for a room with an ensuite. He is now looking for a 1 bedroom flat as he is sick of sharing with others. Every time he goes after a place (very few available) he ends up in a bidding war and has not secured anything yet. Quote Link to comment Share on other sites More sharing options...
fellow Posted January 17 Author Share Posted January 17 (edited) This is: A sign of financial distress. Increasing the supply of housing. Taking tenants away from BTLers. Putting downward pressure on rents. Putting downward pressure on the housing market. Edited January 17 by fellow Quote Link to comment Share on other sites More sharing options...
telespy Posted January 22 Share Posted January 22 Room to rent for £1500 per month! https://www.dailymail.co.uk/news/article-12991657/tiny-studio-flat-north-london-microwave-bedroom-market-1500-month.html Quote Link to comment Share on other sites More sharing options...
Stewy Posted January 22 Share Posted January 22 On 17/01/2024 at 12:48, Insane said: A friend of my Brother is currently renting a room in a shared house in East London he is paying £950 a month for a room with an ensuite. He is now looking for a 1 bedroom flat as he is sick of sharing with others. Every time he goes after a place (very few available) he ends up in a bidding war and has not secured anything yet. BLT profit margins must be soaring if rents are rising so fast. I don't know why anyone would want to live there though... Quote Link to comment Share on other sites More sharing options...
Insane Posted January 22 Share Posted January 22 4 minutes ago, Stewy said: I don't know why anyone would want to live there though... Lol Are you a snob? East London is fine those that don't know why anyone would want to live there are ignorant. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 22 Share Posted January 22 Can live almost anywhere with a tinternet 5g connection.....can learn a language if determined, younger you are the easier......if was to give a useful gift to a child, give them the gift of another language, never know when they might find it very useful, living here or overseas.......very small world. Saying that, soon we will all be able to speak to every nation and understand every language.....AI will facilitate that..... Quote Link to comment Share on other sites More sharing options...
Tony_Teacake Posted January 22 Share Posted January 22 56 minutes ago, Insane said: Lol Are you a snob? East London is fine those that don't know why anyone would want to live there are ignorant. He only thinks his a snob but if the truth is to be known he actually lives in a very deprived area. Quote Link to comment Share on other sites More sharing options...
Ballyk Posted January 22 Share Posted January 22 On 17/01/2024 at 21:20, fellow said: This is: A sign of financial distress. Increasing the supply of housing. Taking tenants away from BTLers. Putting downward pressure on rents. Putting downward pressure on the housing market. Hurrah! Quote Link to comment Share on other sites More sharing options...
Stewy Posted January 22 Share Posted January 22 1 hour ago, Insane said: Lol Are you a snob? East London is fine those that don't know why anyone would want to live there are ignorant. 23 minutes ago, Tony_Teacake said: He only thinks his a snob but if the truth is to be known he actually lives in a very deprived area. I live riverside...walking distance from many great pubs, gym, best curry house in the north... If you wait until some place has appeared in your glozzy Sunday magazine for permission to like it then you're too late... ✓✓ Quote Link to comment Share on other sites More sharing options...
Insane Posted January 22 Share Posted January 22 4 minutes ago, Stewy said: I live riverside...walking distance from many great pubs, gym, best curry house in the north... If you wait until some place has appeared in your glozzy Sunday magazine for permission to like it then you're too late... ✓✓ There is riverside with great pubs, gym and many great curry houses in East London , did you not know that ? The River is called the Thames. Quote Link to comment Share on other sites More sharing options...
Casual-observer Posted January 22 Share Posted January 22 (edited) 1 hour ago, Stewy said: BLT profit margins must be soaring if rents are rising so fast. I don't know why anyone would want to live there though... Absolute precise opposite The BTL profits will be ebbing away towards landlords debt free or now increased spare room competition against homeowners with no inflated BTL mortgage to pay for. If it's a spareroom then £7500 is tax free versus a landlord with a 40% tax burden. BTL is dead in the water without significant HPI, even your plateau renders BTL worthless. Edited January 22 by Casual-observer Quote Link to comment Share on other sites More sharing options...
msi Posted January 22 Share Posted January 22 2 minutes ago, Casual-observer said: Absolute precise opposite The BTL profits will be ebbing away towards landlords debt free or now increased spare room competition against homeowners with no inflated BTL mortgage to pay for. If it's a spareroom then £7500 is tax free versus a landlord with a 40% tax burden. BTL is dead in the water without significant HPI, even your plateau renders BTL worthless. So anything more than £625 per month is taxable at marginal rates? Sounds like a tip off to the Tax man is needed Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted January 22 Share Posted January 22 On 1/17/2024 at 8:42 AM, fellow said: Number of homeowners renting a room jumps 89%... as average lodger now pays £739 a month https://www.dailymail.co.uk/property/article-12968619/Number-homeowners-renting-room-jumps-89-average-lodger-pays-739-month.html It's the free market dealing with the problem of shortages. If the government managed the economy responsibly we would not be in this position. Those London prices are ridiculous. It's a dump too. That place is going to collapse. Why anyone would pay those prices is beyond me. You could get around that by sleeping at bed & breakfasts and save cash. Just stay at hostels and other B & Bs and change every few days according to availability and price. If you can get £50 a night or less then you save cash. No council tax. No deposit. Quote Link to comment Share on other sites More sharing options...
sta100 Posted January 22 Share Posted January 22 3 minutes ago, The Angry Capitalist said: It's the free market dealing with the problem of shortages. If the government managed the economy responsibly we would not be in this position. Those London prices are ridiculous. It's a dump too. That place is going to collapse. Why anyone would pay those prices is beyond me. You could get around that by sleeping at bed & breakfasts and save cash. Just stay at hostels and other B & Bs and change every few days according to availability and price. If you can get £50 a night or less then you save cash. No council tax. No deposit. Nobody is going to move around to hostels and B&B's to save cash, it's an unrealistic idea, you wouldn't even have a permanent address The reason a lot of people live in London is because they get good salaries and have good careers and friends and their lives there. A lot aren't just going to uproot because some people think it's a dump. Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted January 22 Share Posted January 22 Just checked on booking.com Specified for 1 room from today until 2nd February. There's about 15 all under £600 for 2 weeks. One even includes breakfast. Just keep doing that every 2 weeks. Giving your money to entrepreneurs instead of parasitical landlords. Problem solved. Put your possessions in storage. https://www.booking.com/searchresults.en-us.html?aid=2306727&label=SR-Responsive-BandB-single&sid=48dafa86efd240c4e3e507cdca580237&checkin_monthday=22&checkin_year_month=2024-01&checkout_monthday=3&checkout_year_month=2024-02&city=-2601889&class_interval=1&dest_id=-2601889&dest_type=city&do_availability_check=1&dtdisc=0&group_adults=1&group_children=0&inac=0&index_postcard=0&keep_landing=1&label_click=undef&nflt=sth%3D2&no_rooms=1&offset=0&order=price&postcard=0&room1=A&sb_price_type=total&shw_aparth=1&slp_r_match=0&ss_all=0&ssb=empty&sshis=0& Quote Link to comment Share on other sites More sharing options...
sta100 Posted January 22 Share Posted January 22 Yeah, I don't recommend becoming homeless to save money Quote Link to comment Share on other sites More sharing options...
Insane Posted January 22 Share Posted January 22 4 minutes ago, The Angry Capitalist said: You could get around that by sleeping at bed & breakfasts and save cash. Just stay at hostels and other B & Bs and change every few days according to availability and price. If you can get £50 a night or less then you save cash. No council tax. No deposit. No thank you. At £50 a night if you can find somewhere that low it would be £1,500 a month to have no cooking facility's (how much extra eating out) and constantly needing to be on the move. I have heard and understand people that travel a lot for work like celebrities getting sick and tired of living out of a suit case and these people will be staying in top hotels not a Hostel or a B&B. Quote Link to comment Share on other sites More sharing options...
Tony_Teacake Posted January 22 Share Posted January 22 On 1/17/2024 at 9:20 PM, fellow said: This is: A sign of financial distress. I mentioned this to someone on here the other day as he is thinking about letting one of his bedrooms at £800 per month. I said things must be tight but he told me it was to fund a new kitchen. Quote Link to comment Share on other sites More sharing options...
fellow Posted January 22 Author Share Posted January 22 1 hour ago, Tony_Teacake said: I mentioned this to someone on here the other day as he is thinking about letting one of his bedrooms at £800 per month. I said things must be tight but he told me it was to fund a new kitchen. Sounds like they can't afford a new kitchen because. . . . . .things are tight. Quote Link to comment Share on other sites More sharing options...
Quid Game Posted January 22 Share Posted January 22 5 hours ago, Tony_Teacake said: I mentioned this to someone on here the other day as he is thinking about letting one of his bedrooms at £800 per month. I said things must be tight but he told me it was to fund a new kitchen. Might let the second spare room out as well, though that’ll fetch less as it’s a bit smaller. Maybe £600. Quote Link to comment Share on other sites More sharing options...
Tony_Teacake Posted January 22 Share Posted January 22 Just now, Quid Game said: Might let the second spare room out as well, though that’ll fetch less as it’s a bit smaller. Maybe £600. Why not get a few sets of bunk beds in there and turn it into a HMO. You won't need to advertise for your tenants as Serco will take care of this for you. Quote Link to comment Share on other sites More sharing options...
Quid Game Posted January 22 Share Posted January 22 3 minutes ago, Tony_Teacake said: Why not get a few sets of bunk beds in there and turn it into a HMO. You won't need to advertise for your tenants as Serco will take care of this for you. Because I’m not a morally bankrupt individual. Quote Link to comment Share on other sites More sharing options...
Tony_Teacake Posted January 22 Share Posted January 22 3 hours ago, fellow said: Sounds like they can't afford a new kitchen because. . . . . .things are tight. I believe things are very tight if you need to entertain a lodger but this is nothing to be ashamed off. I am not afraid to tell anyone but my business is doing terrible at the moment but I won't deny I've also had some very good times. Quote Link to comment Share on other sites More sharing options...
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