> The average UK rent is now £1,078 per month, a rise of 12.1% in the last year.
> London has seen the highest rental growth in the last year at 17%. That works out to a rise of £273 per month for renters in the capital, compared to a UK-wide jump of £117 per month.
> There’s also been high rental growth in Manchester (+15.6%), Glasgow (+14.1%), Bristol (+12.9%), Sheffield (+12.4%) and Birmingham (+12.3%).
Scary stuff.
I’m certain that it has nothing to do with very low social housing starts.
Loads of Housing Associations and owners of multiple properties are pulling out of providing social housing and going into housing illegal migrants for the Home Office.
Guaranteed rents and the Home Office pays contractors to refurb them every 12 months.
This equals less availability for normal renters and thus higher rents.
Where more people are or want to live because that is where jobs are. Councils not building new houses means demand is massively outstripping supply, so landlords will raise rents because they know someone will pay it eventually. It’s predatory but when the government is filled with landlords there will be no regulation any time soon.
Of course its is. The finite nature of land makes this, at some point, inevitable.
> We expect annual rental growth to be between 4% and 5% by the end of 2023
Good luck with that. People are already stretched beyond their means and property prices are expected to fall up to 35% over the coming years.
And here In Bristol the new additional HMO rules mean you can only rent two bedrooms of a three bed house as a house share, the usual route for young people moving starting out has been cut off.
The number of international people in these cities is massively increasing year on year. No wonder rents are going up.
This isn’t surprising since the population grew 1 million last year aided by immigration. The reason they are so high is because there are people willing to pay that price. Stop immigration house prices and rent prices would drop, any orthodox ‘Labour’ voter should be behind that right?
I know send every immigrant from the last 10 years back to their country of origin and see how long it takes for prices to drop on rent EVERYTHING THEY HAVE TRIED has made it worse so…..
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> The average UK rent is now £1,078 per month, a rise of 12.1% in the last year.
> London has seen the highest rental growth in the last year at 17%. That works out to a rise of £273 per month for renters in the capital, compared to a UK-wide jump of £117 per month.
> There’s also been high rental growth in Manchester (+15.6%), Glasgow (+14.1%), Bristol (+12.9%), Sheffield (+12.4%) and Birmingham (+12.3%).
Scary stuff.
I’m certain that it has nothing to do with very low social housing starts.
Loads of Housing Associations and owners of multiple properties are pulling out of providing social housing and going into housing illegal migrants for the Home Office.
Guaranteed rents and the Home Office pays contractors to refurb them every 12 months.
This equals less availability for normal renters and thus higher rents.
Where more people are or want to live because that is where jobs are. Councils not building new houses means demand is massively outstripping supply, so landlords will raise rents because they know someone will pay it eventually. It’s predatory but when the government is filled with landlords there will be no regulation any time soon.
Of course its is. The finite nature of land makes this, at some point, inevitable.
> We expect annual rental growth to be between 4% and 5% by the end of 2023
Good luck with that. People are already stretched beyond their means and property prices are expected to fall up to 35% over the coming years.
https://www.youtube.com/c/MovingHomewithCharlie/videos
https://www.ft.com/uk-house-prices
https://www.bloomberg.com/news/articles/2022-11-03/nationwide-cfo-says-uk-house-prices-could-fall-30-in-worst-case
https://www.theguardian.com/business/2022/dec/07/uk-house-prices-fall-at-fastest-rate-in-14-years-says-halifax
And here In Bristol the new additional HMO rules mean you can only rent two bedrooms of a three bed house as a house share, the usual route for young people moving starting out has been cut off.
The number of international people in these cities is massively increasing year on year. No wonder rents are going up.
This isn’t surprising since the population grew 1 million last year aided by immigration. The reason they are so high is because there are people willing to pay that price. Stop immigration house prices and rent prices would drop, any orthodox ‘Labour’ voter should be behind that right?
I know send every immigrant from the last 10 years back to their country of origin and see how long it takes for prices to drop on rent EVERYTHING THEY HAVE TRIED has made it worse so…..