Friday, January 21, 2011
On ‘borrowed’ time
UK rents fall as arrears rise
Guardian reports on the latest Buy to Let Index from LSL Property Services.
Posted by dill @ 11:09 AM (3099 views)
7 thoughts on “On ‘borrowed’ time”
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icarus says:
“With unemployment set to increase this year, and rents likely to rise once more in the spring, more tenants will be at risk of falling behind with rent payments”. So landlords will put up rents but tenants won’t be able to pay them?
sibley's b'stard child says:
Christ, that article as almost gleeful at the prospect of priced-out FTBs increasing demand for rental properties. Still, an increase in demand is cold comfort if they can’t afford the pie-in-the-sky rents.
“Nevertheless, with the supply of mortgage finance to both first-time buyers and would-be landlords still constrained, we are likely to see rents restart their upwards march before the spring.”
For some reason I have the image of a pack of ravenous hyenas picking over a carcass.
icarus says:
Whatever happened to those ‘reluctant landlords’ who couldn’t sell and rented out their properties instead?
icarus says:
sibley’s – hyenas pick over rotting carcasses that make you gag if you’re downwind.
sibley's b'stard child says:
Aye Icarus, with luck it won’t be long before they resort to cannibalism.
ontheotherhand says:
icarus @ 3, you’ve hit the nail on the head. If the supply of mortgages mean there are fewer buyers, and the article argues this means more forced tenants, the article fails to complete the logic and say what will happen to all the houses the first time buyers can’t buy! Rented out perhaps?
ontheotherhand says:
If rental prices are so seasonal as they claim, they should either seasonally adjust them with a published methodology, or release quarterly instead. Why release monthly but then say a month is not significant?