The laws of supply and demand unfortunately. I can’t see a law that would prevent this kind of ‘gazupmping’
No. For at least the last 35 years the British people have voted for governments that have deliberately left the provision of housing to market forces. This has restricted the availability of the kind of housing people really need, at the prices they can actually afford, in the places where they actually want to live. Generation after generation, people have voted for more of this. So it’s going to get worse, not better.
Yes but that would mean building substantially more housing and that’s simply anathema to people for some reason.
Yes, rental bidding wars can be stopped if the regulatory bodies (there are two) whom “oversee” rental agency’s are arm twisted to introduce amended mandatory change to their current code of practice that prevent agents from doing such things, at punishment of actual sanctions, ie license to practice. As it currently stands they are completely useless and require radical change.
There is a lot of rubbish bandied around by complacent free marketeer types about “how you can’t legislate for this”, “it’s the rental market”, etc. This however is defeatist rubbish, you simply do not allow agents in this market to continue unregulated, or simply the situation does not change, you just require the motivation to actually initiate change.
Let’s wait and see what happens when inflation and interest rates go down.
Will rents go down? What do you bet on?
There’s a subreddit to talk about anything to do with renting and tenancy, check it out r/TenantsInTheUK
5 comments
The laws of supply and demand unfortunately. I can’t see a law that would prevent this kind of ‘gazupmping’
No. For at least the last 35 years the British people have voted for governments that have deliberately left the provision of housing to market forces. This has restricted the availability of the kind of housing people really need, at the prices they can actually afford, in the places where they actually want to live. Generation after generation, people have voted for more of this. So it’s going to get worse, not better.
Yes but that would mean building substantially more housing and that’s simply anathema to people for some reason.
Yes, rental bidding wars can be stopped if the regulatory bodies (there are two) whom “oversee” rental agency’s are arm twisted to introduce amended mandatory change to their current code of practice that prevent agents from doing such things, at punishment of actual sanctions, ie license to practice. As it currently stands they are completely useless and require radical change.
There is a lot of rubbish bandied around by complacent free marketeer types about “how you can’t legislate for this”, “it’s the rental market”, etc. This however is defeatist rubbish, you simply do not allow agents in this market to continue unregulated, or simply the situation does not change, you just require the motivation to actually initiate change.
Let’s wait and see what happens when inflation and interest rates go down.
Will rents go down? What do you bet on?
There’s a subreddit to talk about anything to do with renting and tenancy, check it out r/TenantsInTheUK