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Realistbear

R I C S: Biggest Drop In Tenant Demand Since Slump In 2005

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http://www.citywire.co.uk/News/NewsArticle...VersionID=92607

Tenant demand has faltered while sales increased in response to a reduction in employment growth and rising rents according to the Royal Institution of Chartered Surveyors (Rics) Lettings Survey. Some 16% more chartered surveyors reported a rise than a fall in tenant lettings, down from 28% in October 2006.
This is the biggest drop in tenant demand since the first quarter of 2005 and below the long run average of 18%
. Demand fell for both flats and houses, although the slowdown was greater in the housing sector. For houses, 15% more chartered surveyors reported a rise than a fall - down from 34% in January...../
The fall in activity has been driven by a continued reduction in yields and signs that underlying house price growth is beginning to slow.
The percentage of landlords selling their properties jumped more than one per cent to 5.2%,
the highest level in two years. Many landlords are selling into a tight housing market in the face of
falling gross yields and rising borrowing costs.

With so much bad news coming out now with regard to BTL what must it be like to be in a BTLer's shoes looking down the barrel of Great Crash 2?

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Guest d23
http://www.citywire.co.uk/News/NewsArticle...VersionID=92607
Tenant demand has faltered while sales increased in response to a reduction in employment growth and rising rents according to the Royal Institution of Chartered Surveyors (Rics) Lettings Survey. Some 16% more chartered surveyors reported a rise than a fall in tenant lettings, down from 28% in October 2006.
This is the biggest drop in tenant demand since the first quarter of 2005 and below the long run average of 18%
. Demand fell for both flats and houses, although the slowdown was greater in the housing sector. For houses, 15% more chartered surveyors reported a rise than a fall - down from 34% in January...../
The fall in activity has been driven by a continued reduction in yields and signs that underlying house price growth is beginning to slow.
The percentage of landlords selling their properties jumped more than one per cent to 5.2%,
the highest level in two years. Many landlords are selling into a tight housing market in the face of
falling gross yields and rising borrowing costs.

With so much bad news coming out now with regard to BTL what must it be like to be in a BTLer's shoes looking down the barrel of Great Crash 2?

shame about the 'soaring' increase in rents in your neck of the woods RB

Surveyors report that rental levels increased at their fastest pace since July 2006, although the figure was skewed by unusually large rental increases in the Midlands. Some 29% more chartered surveyors reported a rise than a fall in rents which is only one per cent below the survey's record high.

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Guest Cletus VanDamme
So where is everybody living?

Having finally gotten sick of the pocket-billiards playing landlord, turning up unannounced while they're in the shower/taking a dump/having sex, and had it with the thin brown carpet, woodchip wallpaper, non-matching 70s furniture and musty smells, they're buying?

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Guest grumpy-old-man
So where is everybody living?

some are living, most are existing. :(

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shame about the 'soaring' increase in rents in your neck of the woods RB

STR is the name of the game here locally.

Although with the grim employment stats for the W Midlands I am not sure who is paying the soaring rents. In any event soaring rents are not going to save the housing market so I am afraid you can offer little hope to the bulls and neithers based on this report.

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One thing that seems to be overlooked when extrapolating huge demand for property from singletons is that this is precisely the same group who can easily share property or solve their need for shelter by returning to parents, living with friends, etc. Whereas a family are unlikely to move back with mum & dad, or take a room in friends house, the single buyers who everyone has pinned their HPI hopes on will more readily do this as they feel the squeeze.

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Guest wrongmove
Having finally gotten sick of the pocket-billiards playing landlord, turning up unannounced while they're in the shower/taking a dump/having sex, and had it with the thin brown carpet, woodchip wallpaper, non-matching 70s furniture and musty smells, they're buying?

:P

OT, and I have posted this before, but if you haven't seen it, you may find this amusing: IKAKA: Furnishings for the Frugal Landlord

Even more OT, but the section on Higher education is very funny too: University of Bums on Seats

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So where is everybody living?

I know of many who have left rented accomodation & moved back home with parents.

If theres space then its not a bad move for both partys.

- Parents may have less stress on mortage with a lil rent / living charges thrown in...

- Parents may miss the youngstas company....

- No harsh responsibility's by kids anymore & mum cooks up a nice dinner everynight..

This may seem childish but there are a large number of 30 somethings who have never moved out of home. :(

Crash needed by the time im 28 :angry:

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I know of many who have left rented accomodation & moved back home with parents.

If theres space then its not a bad move for both partys.

- Parents may have less stress on mortage with a lil rent / living charges thrown in...

- Parents may miss the youngstas company....

- No harsh responsibility's by kids anymore & mum cooks up a nice dinner everynight..

This may seem childish but there are a large number of 30 somethings who have never moved out of home. :(

Crash needed by the time im 28 :angry:

Suppose this also gives a short respite for migrants to find somewhere to live at affordable rates and keeps the homless numbers down for a while. So this is a good thing right?.....What if someone under 30 wants their own place? this would be a bad thing as it increases rental demand or even worse house purchase demand. I think anyone (even in their 40s or 50s) should move back to their parents as it is really selfish keeping up this demand and taking many a hard working migrant family/persons chance of accomadation away from them. Remember many will multi occupy even the smallest flat or bedsit.

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I know of many who have left rented accomodation & moved back home with parents.

If theres space then its not a bad move for both partys.

- Parents may have less stress on mortage with a lil rent / living charges thrown in...

- Parents may miss the youngstas company....

- No harsh responsibility's by kids anymore & mum cooks up a nice dinner everynight..

This may seem childish but there are a large number of 30 somethings who have never moved out of home. :(

Crash needed by the time im 28 :angry:

I moved out soon as I could when I was 22. Now I've just turned 31, and I'm seriously considering moving back with the parents. And looking back on it, while I am an independent cuss who likes living on his own, I do wonder if that was a serious mistake, because some small measure of independence cost me an arm and a leg.

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Guest wrongmove
quality site! Friends of yours?

:unsure::P

I'm not sure what you are implying here - I strongly believe they are friends of my landlord though!

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With their mums. Saves on council tax.

And Elec, Gas, Water, repairs, gardening.....

Oh and the washing 'fairy' seems to wash, iron and replace clothes in only a day!

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I moved out soon as I could when I was 22. Now I've just turned 31, and I'm seriously considering moving back with the parents. And looking back on it, while I am an independent cuss who likes living on his own, I do wonder if that was a serious mistake, because some small measure of independence cost me an arm and a leg.

Same boat, but a bit younger (moved out at 18, moved back in this year at 26).

Bes thing i have ever done! :)

Somehow parents are more friendly as you get older and they treat you like an adult. A real pleasure.

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Guest AuntJess
Same boat, but a bit younger (moved out at 18, moved back in this year at 26).

Bes thing i have ever done! :)

Somehow parents are more friendly as you get older and they treat you like an adult. A real pleasure.

I guess not having wild parties any more and leaving ciggy burns on the furniture might account for that. :P

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