copydude Posted July 14, 2008 Share Posted July 14, 2008 I think it's been predicted on here that there would be a temporary spike in rents because landlords would try to cover rises in mortgage payments with increased rents, and VIs would try to hype the market in the same way they did with sales. I've been letting a place in the SE for three years. There has been no increase in rents at all - not even to keep pace with inflation. As the new-build developers desperately turn to letting rather selling, you are lucky to keep a tenant. The BTL mob and the builders are asking fancy rents. But on the whole, they're not getting them. I wasn't a BTL and I don't have a mortgage on my parents' old place. But I'd reduce the rent rather than have a void and pay council tax and more agents' fees and so on. I think most letters would do the same. This is shameful, talk up the market hype. People have less money than they had three years ago, whether to buy or to rent. Quote Link to comment Share on other sites More sharing options...
mdman Posted July 14, 2008 Share Posted July 14, 2008 Places that fit my criteria in my area up from 36 to 110 in 3 months. Big oversupply and asking prices also going up, but people don't seem to be renting them Quote Link to comment Share on other sites More sharing options...
MrPin Posted July 14, 2008 Share Posted July 14, 2008 I keep an open mind about London opportunities... and, while I don't know much about London at all, I look for ways in which I could concievably commute to, say Canary Wharf or the Square mile in under an hour... and not feel revolted at the place I end-up sleeping.In my most recent trawls, I was extremely impressed with the appearance of places with Parking+2-beds as rentals in the Kingston-Upon-Thames area... though realise that they're at the limit for a 1hr commute by public transport. The prices were in the £1200 -> £1250 per month range. I was particularly taken with the photographs of Surbiton... Where else would be good to focus? I liked the look of Greenwich when I visited - and could cope with Rotherhithe as an area (though it isn't special)... though non-entry-level rentals there seem remarkably expensive. Suggestions about where else to look? Where, specifically? Bromley, and Chislehurst are good. 25 mins into London Bridge. I lived there for a while, and we had great neighbours. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted July 14, 2008 Share Posted July 14, 2008 a rise even smaller than the fiddled chosen lower representation of inflation? who cares? and where have these people suddenly appeared from? immigrants are leaving and no-one's houses are selling? sounds like a fabrication to me Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted July 14, 2008 Share Posted July 14, 2008 a rise even smaller than the fiddled chosen lower representation of inflation? who cares? and where have these people suddenly appeared from? immigrants are leaving and no-one's houses are selling? sounds like a fabrication to me is this anything to do with Estate Agents moving over to lettings and transferring their sheister-ramping practices ? they just can't help themselves..... Quote Link to comment Share on other sites More sharing options...
renterbob Posted July 14, 2008 Share Posted July 14, 2008 Rents in North Wales seem to be rising in parts. Flats which were £450 in early spring are now £500 and no problem letting. Middle and upmarket still very difficult though. Strange, a mate said his was 450 last year, and he's getting it reduced to 365 this year. Many diffferent stories out there, but for sure, it is a renters market, and more and more properties coming online will accelerate the freefall in rental prices...hurray!! Quote Link to comment Share on other sites More sharing options...
Neitherland Posted July 14, 2008 Share Posted July 14, 2008 a rise even smaller than the fiddled chosen lower representation of inflation? who cares? and where have these people suddenly appeared from? immigrants are leaving and no-one's houses are selling? sounds like a fabrication to me Has there ever been a fall in the UK population since WW2? The rate of increase may change but it never goes down, our little island is only getting more crowded! Don't get me wrong this doesn't explain the HPI over the last 10 years but I think this immigrants leaving thing is very overblown. London is made up of many many markets and rents are going up in some - most W postcode for a start. But very annoyingly house prices aren't dropping that much in these areas either... Its p!ssing me off... Quote Link to comment Share on other sites More sharing options...
jonpo Posted July 14, 2008 Share Posted July 14, 2008 Rocketing!!!! dateevent14th Jul 2008 Price changed: from '£330 pw' to '£315 pw'8th Jun 2008 Price changed: from '£345 pw' to '£330 pw'20th Apr 2008 Initial entry foundhttp://www.rightmove.co.uk/viewdetails-197...6&tr_t=rent down! Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted July 14, 2008 Share Posted July 14, 2008 I look for ways in which I could concievably commute to, say Canary Wharf or the Square mile in under an hour... and not feel revolted at the place I end-up sleeping.Suggestions about where else to look? E Herts - 25-40 mins to City, epending on slow or fast train. Voila! Quote Link to comment Share on other sites More sharing options...
0q0 Posted July 15, 2008 Author Share Posted July 15, 2008 Sorry I got the date wrong, my brain was one day ahead due to a deadline I have! should have been 14 July. Moderator - could you perhaps move this to All About Renting, thank you. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted July 15, 2008 Share Posted July 15, 2008 http://www.thisislondon.co.uk/standard/art...pear/article.do I like the only comment at the bottom. Quote Link to comment Share on other sites More sharing options...
0q0 Posted July 15, 2008 Author Share Posted July 15, 2008 http://www.thisislondon.co.uk/standard/art...pear/article.doI like the only comment at the bottom. So do I ! Borough Average monthly rental Westminster £1986 Kensington & Chelsea £1725 Islington £1480 Wandsworth £1426 Tower Hamlets £1407 Camden £1393 Hammermith & Fulham £1379 Kingston £1362 Lambeth £1263 Hackney £1248 Merton £1245 Southwark £1244 Ealing £1228 Richmond £1201 Brent £1156 Barnet £1141 Newham £1116 Haringey £1114 Greenwich £1093 Hounslow £1087 Waltham Forest £1065 Croydon £1008 Harrow £1023 Enfield £1012 Hillingdon £985 Redbridge £981 Bromley £969 Lewisham £961 Barking & Dagenham £929 Bexley £897 Sutton not enough data Havering not enough data The City not enough data Meanwhile, in the real world, the official statistics show rents going down. Who are we going to believe, the impartial civil servants or a bunch of landlords and estate agents who make more money if rents go up? - Roderick Random, London, UK Quote Link to comment Share on other sites More sharing options...
Glittery Hoo Haa Posted July 15, 2008 Share Posted July 15, 2008 I have friends who have moved to 2-3 beds in SW19 recently. Nice houses on quiet roads, walking distance from Wimbledon and South Wimbledon stations. Would certainly fit the 1hr commute to the City bill. All have been able to haggle reductions in rents from LLs who wanted to sell but can't. They may be asking for more rent, but I doubt they're achieving it. Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted July 15, 2008 Share Posted July 15, 2008 The quality of journalism in the UK has hit an all time low. YOU GET MORE SENSE FROM THE BEANO :angry: Quote Link to comment Share on other sites More sharing options...
johnpope Posted July 15, 2008 Share Posted July 15, 2008 106 properties to let in NW7 £1000-£2000. Many have been on 3 months or more. Quote Link to comment Share on other sites More sharing options...
Guest Mr Parry Posted July 15, 2008 Share Posted July 15, 2008 Just now on London Tonight, ITV1, Louisa Fletcher, brought news of about 3% rises in rents, as buyers turn to renting instead, this has happened over past few months they claim, don't hang about if you find something, put your best offer forward immediately...Apparently tenants have much or notably reduced bargaining power. Rises in rents of 2 to 3% in Kingston, Wandsworth, Islington. Panic panic, grab any place now, run for the hills.... was the general message to tenants, put as calmly as possible, in what was a brief slot. This does tie in with my own findings of a sudden upswing, but might be short-lived and the downtrend recommence. Certainly some of the properties I'd offered on and my offer was refused - they are still unlet and voids. However, other stuff is going quickly. It's patchy. VI spin or a real permanent upswing in demand for rentals? I don't know. edit no to notably edit date 14 July They really do want to use each other into oblivion in that damn awful country. Vile bloody place. Quote Link to comment Share on other sites More sharing options...
M21er Posted July 15, 2008 Share Posted July 15, 2008 There are some cheap rentals next to City Airport (if you can put up with them warming up the engines at 6am). All double glazed though - I was paying £240 pm - shared bathroom & kitchen, but 10 mins from Canary Wharf. ( OFF TOPIC ) Hi Boomer, I tried to send you a PM about these. I'm starting a contract in London ( looking for Mon - Thu accommodation ) shortly and the rental seems very competitive. The 6am start is just about right! If you've any further information, can you PM me? Cheers M21er Quote Link to comment Share on other sites More sharing options...
enrieb Posted July 15, 2008 Share Posted July 15, 2008 Many people will be unable to afford to rent flats and houses and will move back in with their parents, especially if they are young, unemployed or going through a divorce. We will probably begin to see a big increase in the amount of homeowners renting out rooms to cover the rising living costs over the next few years. Cheap lodgings in shared homes and people moving back in with their parents will totally undermine the rental prices people charge. A lot of the rental agencies will go to the wall. Quote Link to comment Share on other sites More sharing options...
Sonic the Hedge Fund Posted July 15, 2008 Share Posted July 15, 2008 (edited) http://www.thisislondon.co.uk/standard/art...pear/article.doI like the only comment at the bottom. I like this bit, tucked away at the bottom, which is perhaps the grain of truth in the whole article: But further up the property ladder, conditions for landlords are less buoyant because of the flood of homes being let by vendors refusing to accept reduced sale prices. If my recent experience in the rental market is anything to go on, many long term LL with 3 & 4 bed houses are finding it very, very diffcult ATM. Their tired old houses look sh1t compared to the many nice houses being offeed by desperate OOs who have failed to sell, which are usualy much beter presented on account of the fact that they used to be the LL's own home which they have been trying to sell. Also the 'failed to sell' type LL tend to be more 'distressed' and up for a haggle on the rent. The LL with the Sh1tty places are either having to drop their rents, or they just sit unlet for weeks on end. Edited July 15, 2008 by Sonic the Hedge Fund Quote Link to comment Share on other sites More sharing options...
CONDEX Posted July 15, 2008 Share Posted July 15, 2008 I keep an open mind about London opportunities... and, while I don't know much about London at all, I look for ways in which I could concievably commute to, say Canary Wharf or the Square mile in under an hour... and not feel revolted at the place I end-up sleeping.Where, specifically? I commute from West Norwood to Canary Wharf takes about 40mins and my rent is very resonable with just one increase in 10 years You dont want to live docklands area as its pretty dead at the weekend.. also East London is not too nice... Try south of the river theres a number of areas which are not too bad.. Quote Link to comment Share on other sites More sharing options...
Sonic the Hedge Fund Posted July 15, 2008 Share Posted July 15, 2008 I commute from West Norwood to Canary Wharf takes about 40mins and my rent is very resonablewith just one increase in 10 years You dont want to live docklands area as its pretty dead at the weekend.. also East London is not too nice... Try south of the river theres a number of areas which are not too bad.. Are you serious? South West London has some of the nastiest parts of the capital. West Norwood is a bit too close to Streatham for comfort. I can look after myself, but Streatham is one place where my car doors stay locked. I even saw people dealing drugs at the traffic lights down there, as if it were a bunch of roses. Quote Link to comment Share on other sites More sharing options...
A.steve Posted July 15, 2008 Share Posted July 15, 2008 Thanks, all. I'm now thinking about these areas too: West Norwood (Though I stayed clear of anything even vaguely near Stretham when I visited) Bromley, and Chislehurst - which I'd never considered and no-one suggests are a bad idea. E Herts, too I will consider - though I was considering door-to-door not just the train ride... Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted July 15, 2008 Share Posted July 15, 2008 Are you serious? South West London has some of the nastiest parts of the capital.West Norwood is a bit too close to Streatham for comfort. I can look after myself, but Streatham is one place where my car doors stay locked. I even saw people dealing drugs at the traffic lights down there, as if it were a bunch of roses. West Norword is actually South East London, SE27. </pedant> Quote Link to comment Share on other sites More sharing options...
SHERWICK Posted July 15, 2008 Share Posted July 15, 2008 Thanks, all. I'm now thinking about these areas too:West Norwood (Though I stayed clear of anything even vaguely near Stretham when I visited) Bromley, and Chislehurst - which I'd never considered and no-one suggests are a bad idea. E Herts, too I will consider - though I was considering door-to-door not just the train ride... Nothing wrong with Dulwich.. Quote Link to comment Share on other sites More sharing options...
Glittery Hoo Haa Posted July 15, 2008 Share Posted July 15, 2008 Do you want to live in London, with the nightlife etc. of London, or is your preference for leafy quiet streets, large garden and so on? If it's the latter, Bromley and Chislehurst may be for you but they are much less 'cultural' with not a lot going on evening/weekends. Bromley does have the usual shops if that's your thing. Friends of mine who'd lived in Brixton/Streatham for years moved down that way after having kids and although they love the larger houses they have they are quite bored socially. If you wanted somewhere a bit livelier but still suburban and green, maybe Beckenham? Quote Link to comment Share on other sites More sharing options...
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