Sunday, January 25, 2009

Spare rooms compete with reluctant landlords, forcing down prices

Rental income on wane as homeowners stoke up supply by letting rooms

"Hard-up homeowners trying to let a spare bedroom is being pinpointed as one of the factors keeping down rental prices, says Spareroom.co.uk. [No vested interest there...] It found that average prices in the UK fell 0.5 per cent during December. The number of overseas workers coming to the UK has plummeted owing to the weak pound and a tough jobs market. And companies are no longer moving employees around the country to the same extent: a key driver of the market. Added to this, 27,000 more homeowners took in a lodger last year to cope with pressures on household income and meet mortgage repayments. We expect at least another 35,000 households to take in a lodger this year, adding to the supply. Rents are likely to be under pressure for some time".

Posted by drewster @ 02:15 PM (1208 views)
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7 thoughts on “Spare rooms compete with reluctant landlords, forcing down prices

  • Planning4acrash says:

    Boring, I predicted this two years ago.

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  • MWAUAHAHHAHA HAHAHHAHAHAHH HAHAHAHAHHAHAH

    and this was the small overcrowded island where building permits are hard to get and prices and rents can only go up because there shortage of housing and an ever rising population massive immigration growing divorce rates and student population city boys and second homes. Quick… get a second lodger!!

    MWAUAHAHHAHA HAHAHHAHAHAHH HAHAHAHAHHAHAH
    MWAUAHAHHAHA HAHAHHAHAHAHH HAHAHAHAHHAHAH
    MWAUAHAHHAHA HAHAHHAHAHAHH HAHAHAHAHHAHAH

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  • I now live in my garage and constantly spy on my tenants through a tinted window, sneaking in to cook and wash as required.
    Who needs a job. lol

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  • So it will be,as we learn to live together again and support eachother. Trust and honesty will now be requisite or the street will beckon.
    Add to this the dependence of the young for their parents and families to provide shelter they cannot afford and they in turn to provide help and company as it should be. There will be far fewer kings with their own castles and the debt that follows.
    This bubble has well and truly burst. Hopefully the lesson will be remembered.

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  • Of course, there will be a housing shortage, if every single person in this country want a 3 bed semi-detached and a 2 bed buy to let; AND the government and banks think this a good thing.

    Of course, there is no housing shortage, if we can fill each bedroon with one person (not unreasonable) there won’t be a housing shortage, apart that the VIs won’t like it.

    There won’t be a water shortage, if we all turn the tab off while brushing teeth.
    There won’t be a energy shortage, if we don’t put a 42 inch TV in each room.
    There won’t be a shortage of anything, if we all live with common sense.

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  • tyrellcorporation says:

    Confused76! Welcome back dude.

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  • Confused76, oh how I’ve missed that laugh!

    Peter2008 – Fair point, but any government that tries to force people to cut back gets voted out pretty quickly. Ration cards are all very well in war-time, but people aren’t going to accept them now without a fight. The free market works fairly well as a rationing system, although certain markets require regulation to ensure fairness.

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