Sunday, Dec 17, 2006

Renting providing better value than buying

Firstrung: Young prefer renting upmarket to 'slumming it' as a first-time buyer

Lourna Bourke at Citywire is one of the most consistent and readable market commentators on the plight of first time buyers, here Lourna points out the options for FTBs renting whilst waiting for those opportunities to appear.....

Posted by converted lurker @ 12:45 PM (511 views)
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1. Nnails said...

I can see why. Why would you pay high prices to live in area you do not want to live in. Me the young maybe first time buyers but we still want to live a safe descent neighbourhood not a slum in the rough side of town.

Sunday, December 17, 2006 06:00PM Report Comment

2. japanese uncle said...

You can find so many "Was ---, Now ---" in the rented flats ads right now. This should be the precursor of the long-awaited "Was---, Now---" in the property market, which I could often find in 1995-6. In either way, ie leasing or buying, property markets are destined to crash, and that shortly. Not bad at all!

Sunday, December 17, 2006 07:28PM Report Comment

3. Ilejustwait said...

I think next year 2007 will be the start of the down turn on property, so i look forward to all the BTLs and private investors panicking and wanting to sell at the high end of the market to make sure they dont loose to much capital, and hopefully this will lead to a crash, people are just not earning this type of money,not even to buy a ladder let alone getting there foot on the ladder,

Sunday, December 17, 2006 08:50PM Report Comment

4. Rimmer said...

Well one thing positive the BTL guys have done and will for years to come is keep rents low - lots of properties to rent means rents stay low.

What happens if there is a mad rush to sell in despiration i cant say, anyone who is BTL and not prepared to ride out 5 to 10 years is a fool, BTL like shares is long term not get rich quick

Sunday, December 17, 2006 10:06PM Report Comment

5. paul said...

Yes, good point JU.

Interesting how as others have said in a bull market everything is good news.

This is almost certainly potential buyers exiting from the market. After all, they would buy in the area they want if the price was right, but it isn't so they rent instead.

Difficult to see how this is good news for the market.

Sunday, December 17, 2006 11:08PM Report Comment

6. uncle chris said...

I wouldn't claim to be that young, but we rent a 2 bedroom barn conversion for the equivalent interest-only mortgage cost of buying a terrace house in the rougher areas nearby, plus we have no maintenance costs or building insurance to worry about. Surely that is pure common sense !!! and not a case of being picky !!! - how dare we.

Monday, December 18, 2006 02:17PM Report Comment

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