Thursday, July 17, 2008

Builders and EAs forced into letting business

'Desperate' builders turn to renting as house prices fall

'To let' signs replace 'for sale' boards as the housing market switches focus after the credit crunch. SCOTLAND'S faltering housing market is forcing estate agents and builders to move into letting properties instead of selling them.

Posted by quiet guy @ 01:14 AM (884 views)
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5 thoughts on “Builders and EAs forced into letting business

  • mark wadsworth says:

    This happened in the 1990s as well.

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  • Life's Short says:

    Sounds like supply is on the increase then. Which means….

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  • In my road there is a sign which has For Sale AND To Let on. Both on 1 sign! Never seen that before

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  • mark wadsworth says:

    Well spotted, Neil.

    They cut make things even easier and have a sign saying “Standing empty because of owner’s unrealistic expectations on achievable rent or selling price”.

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  • A friend of mine went to the Graham Penny auction at Pride Park , Derby on the 10th of july. He reports back to me that an awful lot of properties went unsold. You can check for yourselves at http://www.grahampenny.com. Anyway he was chatting to a number of owners there to see their properties not get sold! They all resigned themselves to “trying to rent them” as well as keeping them on the open market. It’s going to get very messy out there chaps. Maybe it’s time to re-negotiate your rental agreements chaps, say 10% off, either that or you’ll be forced “to look at all the other attractive rental properties on the market”. Remember start your negotiations with at least 3 months left ofn your leases for maximum impact on your worried landlords, te he.

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