Bbc On Buy-to-let Rental

[crash2006]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

The average weekly rent for a flat in London is now £525 a week,

if thats the average weekly rent then it works out to be £27,300 a year, and the average london wage is 30k, so how do people live in london with out benefit help hey.

[sossij]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

if thats the average weekly rent then it works out to be £27,300 a year, and the average london wage is 30k, so how do people live in london with out benefit help hey.

£525 is my monthly rent! Ha!

[domo]

30 polish guys x 200 quid a week = much money for the commies back home

[South Lorne]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

if thats the average weekly rent then it works out to be £27,300 a year, and the average london wage is 30k, so how do people live in london with out benefit help hey.

.....the story is originated by VIs ....the surveyors need a moving market to keep the turnover of surveys respectable.....the Association of Rental Letting Agents need the rentals.....is there a proper rental index which could be authenticated..?...if they are all rising as they say they are then inflation must be rocketing ......basket or no basket.....!....

[othello]

.....the story is originated by VIs ....the surveyors need a moving market to keep the turnover of surveys respectable.....the Association of Rental Letting Agents need the rentals.....is there a proper rental index which could be authenticated..?...if they are all rising as they say they are then inflation must be rocketing ......basket or no basket.....!....

BBC = BTL Bullsh1t and Cover-up

[Jason]

Pure propaganda, it is.

[pimperne1]

BBC = BTL Bullsh1t and Cover-up

But they had Merryn Somerset Webb (editor of Moneyweek) who has been predicting a crash for nearly four years now on BBC Breakfast about 10 days ago doing her normal thing.

[since the beginning]

I think like immigration statistics a lot of data is based on 2001 census stats. I reckon when the next census comes out, England and London in particular will see:

A fall in Home ownership.

A massive rise in number of people per house (i.e. renting together)

A fall in the number of square feet of living space per person.

A level of immigration that will surprise even migration watch.

i.e. rental costs per person will have hardly increased but a big fall in the standard of living.

[misfit]

Pure propaganda, it is.

That is true but as long as those with excess cash decide property is a sound investment it looks like prices will keep rising until someone sees sense as they are all following each other like lambs to the slaughter

[right_freds_dead]

im rushing out to pay my licence fee right now.........

[cells]

like everyone is saying it is total ********

i lived in kensington for 2 years and for our two bed flat we paid 375 per week (this year)

so this figure of 500+ for an average london flat is TOTAL ********

[music man]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

if thats the average weekly rent then it works out to be £27,300 a year, and the average london wage is 30k, so how do people live in london with out benefit help hey.

WOW - how can anyone afford that?

30 polish guys x 200 quid a week = much money for the commies back home

Oh Yeah...

[Ash4781]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

"The average weekly rent for a flat in prime central London is now £525 a week, with £215 a week being charged in the South East and £150 in the rest of the UK."

""Current economic uncertainty has created an ideal platform for buy-to-let investors to cash in on rising rental levels," said RICS spokesperson Jeremy Leaf."

215*4 = 860

150*4 = 600

These look a bit low to me!

Rising rental levels maybe but what are the rental price increases ? 2%? 3% ?

Edited September 11, 2007 by Ash4781

[Jimmy2Times]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

if thats the average weekly rent then it works out to be £27,300 a year, and the average london wage is 30k, so how do people live in london with out benefit help hey.

I noticed this too and did a quick calculation and then needed a lie down, can someone verify this figure or is it the worse case of pot smoking at the beeb seen so far this year.

Edited September 11, 2007 by Jimmy2Times

[Ash4781]

I noticed this too and did a quick calculation and then needed a lie down, can someone verify this figure or is it the worse case of pot smoking at the beeb seen so far this year.

"The average weekly rent for a flat in prime central London is now £525 a week, with £215 a week being charged in the South East and £150 in the rest of the UK."

[Guest DissipatedYouthIsValuable]

"The average weekly rent for a flat in prime central London is now £525 a week, with £215 a week being charged in the South East and £150 in the rest of the UK."

Best ask for some significant pay rises then.

[Without_a_Paddle]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

MISQUOTE

The average weekly rent for a flat in London is now £525 a week,

if thats the average weekly rent then it works out to be £27,300 a year, and the average london wage is 30k, so how do people live in london with out benefit help hey.

You've managed to misquote the article and then confused yourself with your conclusions from your own misquote!

It says weekly rent in PRIME CENTRAL London.

Average Londoners don't live in prime central London.

Edited September 11, 2007 by Without_a_Paddle

[South Lorne]

"The average weekly rent for a flat in prime central London is now £525 a week, with £215 a week being charged in the South East and £150 in the rest of the UK."

.....this 'prime central London is now' phrase sounds like VI spin.....I am sure there were many nice flats 4 bedroom five bathrooms rented out in Central London to Corporates for nooo's per week which helps the average...what they don't mention is how this compares with the figure 3, 6 or 12 months ago and we may learn something....to say 'now' is like inviting a response 'so what'..........

[refusnik]

http://newsvote.bbc.co.uk/1/hi/business/6988664.stm

"The average weekly rent for a flat in prime central London is now £525 a week, with £215 a week being charged in the South East and £150 in the rest of the UK."

""Current economic uncertainty has created an ideal platform for buy-to-let investors to cash in on rising rental levels," said RICS spokesperson Jeremy Leaf."

215*4 = 860

150*4 = 600

These look a bit low to me!

Rising rental levels maybe but what are the rental price increases ? 2%? 3% ?

Make no mistake: we now have an ideal platform for buy-to-let investors to cash in...

[South Lorne]

Make no mistake: we now have an ideal platform for buy-to-let investors to cash in...

.....depends on their timing....if they bought 10 years ago.....OK ...if they bought last year or the year before and try to sell now ....could be 'not so ideal'..... l

[Austin Allegro]

Sounds like a desperate attempt to talk up the market to me.

Eg, houses are unaffordable, therefore more people are renting, therefore rents are going up, therefore BTL is a good investment, therefore houses are unaffordable, etc etc

Or is this really what is happening?

[@contradevian]

Sounds like a desperate attempt to talk up the market to me.

Eg, houses are unaffordable, therefore more people are renting, therefore rents are going up, therefore BTL is a good investment, therefore houses are unaffordable, etc etc

Or is this really what is happening?

Well no, because rents have to be founded in the reality of what people earn and can afford to pay. This doesn't apply to house prices of course.

Also the BTL investors who bought in the past few years are competing with BTL's who bought 10/20 years ago and have substantial equity and little borrowings so have little need to hike rents.

[LittleBro]

Is the weekly figure taking in to account the number of flats on short let? This is a growing market buoyed by Coprorate London and is way more expensive than a normal flat.