Friday, September 21, 2012

Feed me…

Rents rise for fifth month in a row

Private rents have soared for the fifth month in a row to reach a new high as pressure on the sector continues to be ramped up, a study has found. Typical monthly rents increased by 2.9pc year-on-year to reach £734 in August, surpassing a previous peak of £725 recorded in July, according to lettings network LSL Property Services, which owns chains including Your Move and Reeds Rains.

Posted by dill @ 11:40 AM (4267 views)
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7 thoughts on “Feed me…

  • Ramping.

    Also even by calculations that strip out voids, rents are rising by less than inflation. With wages also lagging inflation, and unemployment not improving, the only story for private landlords is that rents are hitting a brick wall.

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  • Yippee! House prices up, rents up, we can all sit back and become unbelievably wealth for no effort!

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  • I mean, if everybody had “invested wisely in bricks and mortar and taken a stake in Britain’s future as a property owning democracy” then each of us would own two or three buy to lets, as well as our own Family Home and there’d be no need for anybody to work, would there?

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  • it’s a bit weird … there seems to me … to be alot more talk about rents going up in the press … and then hey presto my landlord puts the rent up 20%

    Very frustrating.

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  • Rents are a ridiculously high share of disposable income so it’s hard to see any sustained further increase. If the UK was an oil rig, after you worked there for a year, the costs of the oil rig services you used, your apartment, your food costs, would be more than you earned over the period.
    Price rises in the UK are transitory, because they all lead to the complete failure to extend further debt with the resulting collapse in the price level. So currently the gilt market may be OK with failing to meet borrowing targets, I wonder how they will react in 2016. Rent money is running out.

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  • Why don’t we start demonstrating in the street now? The greed in London is literally sucking the blood to our generation and all we do is accepting this in silence.
    I don’t understand this apathy.
    We should feel very angry.
    Personally I feel terribly angry.

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