Monday, March 23, 2009

Property rental prices drop as more homeowners turn landlord

Property rental prices drop as more homeowners turn landlord

"Research commissioned by the site to coincide with Gumtree’s Q1 2009 Rental Index found almost a third of homeowners in the UK now rent out property to tenants, 57 per cent of whom have only done so in the past two years". In my view (as a long term renter) until rental yields become less attractive to home owners (not helped by current interest rates) this trend is going to continue artificially maintain house prices. We could either see a painful HP fall over a long period of time or depending or in an extreme case we could become more like parts of Europe where life-long renting is more common. I would urge any long-term renters to demand a rent reduction - I did and got £150/month taken off! I suspect my landlords are on a VR because they didn’t bat an eyelid...

Posted by mda @ 10:48 AM (708 views)
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