Was always going to happen, bumper migration numbers=bumper rents. Some people are making big bucks off the whole thing.
I remember when Section 24 was first announced, this sub was practically giddy at ‘sticking it to the landlords’ and anyone who spoke up against it was just labelled a “bootlicker”. This was the inevitable consequence we were warning about.
Less landlords in the sector, further reducing rental stock as a result, which coupled with ever higher demand for renting (immigration at 700k+ last year alone), plus poor supply (never hitting out paltry housing target even once in the last 25 years), equals skyrocketing rents. Simple supply and demand at work.
Maybe UK wide but in London it’s far more than 11 inquiries per home at the moment in prime locations. Viewings queue are going well over 30+ and it’s usually snapped up by the 1st or 2nd viewer. You don’t even get time to give it a think as it will probably be gone by the time you get home from the viewing.
Maybe just maybe it’s the sudden rise of immigration pushing house prices and rents up like crazy…
House and rent prices will continue to rise as long as population continues to rise (due to immigration) and house building stays lacklustre.
Edit: people downvoting as if it’s not true or house prices go up by magic
Estate Agents push up the rents.
They encourage landlords to go with the ‘market rates’.
Rents at record high AND 11 enquiries per property.
If rents come down, you’ll have way more than 11 enquiries per property. I’m in Edinburgh but I’ll move back to London if it becomes affordable.
Solution to reducing rent is to decrease enquiries per property.
Rentals now essentially go to the highest bidder with so much competition. It is absolutely disgusting.
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Was always going to happen, bumper migration numbers=bumper rents. Some people are making big bucks off the whole thing.
I remember when Section 24 was first announced, this sub was practically giddy at ‘sticking it to the landlords’ and anyone who spoke up against it was just labelled a “bootlicker”. This was the inevitable consequence we were warning about.
Less landlords in the sector, further reducing rental stock as a result, which coupled with ever higher demand for renting (immigration at 700k+ last year alone), plus poor supply (never hitting out paltry housing target even once in the last 25 years), equals skyrocketing rents. Simple supply and demand at work.
Maybe UK wide but in London it’s far more than 11 inquiries per home at the moment in prime locations. Viewings queue are going well over 30+ and it’s usually snapped up by the 1st or 2nd viewer. You don’t even get time to give it a think as it will probably be gone by the time you get home from the viewing.
Maybe just maybe it’s the sudden rise of immigration pushing house prices and rents up like crazy…
House and rent prices will continue to rise as long as population continues to rise (due to immigration) and house building stays lacklustre.
Edit: people downvoting as if it’s not true or house prices go up by magic
Estate Agents push up the rents.
They encourage landlords to go with the ‘market rates’.
Rents at record high AND 11 enquiries per property.
If rents come down, you’ll have way more than 11 enquiries per property. I’m in Edinburgh but I’ll move back to London if it becomes affordable.
Solution to reducing rent is to decrease enquiries per property.
Rentals now essentially go to the highest bidder with so much competition. It is absolutely disgusting.