Why is nobody reading the articles before commenting anymore? Geez it’s like being on Facebook
Less Landlords in the market and more properties being sold to owner occupiers is what the article says.
Meanwhile we continue to allow thousands of new build properties to be sold to overseas buyers who intend to keep them empty as an investment.
The article seems to suggest that various government policies have made it expensive for landlords and forced them to sell/exit the rental market. As a result, house prices in London have fallen and rental prices have risen.
The weather. It’s completely ruined my trousahs!
Nobody is reading the article. Landlords are exiting the market en mass and selling up, partly due to environmental regulations being difficult to follow for victorian houses, introducing risks of large fines.
This is causing an increase in owner occupiers, and reducing the supply of rented accommodation. This shortage of landlord owned properties is pushing up rental prices, and causing property prices to stabilise (decrease in value, taking into account inflation)… however most everyday people aren’t in a position to take advantage of this drop.
Anecdotally, I was a first time buyer this year, and properties often weren’t selling, or were going for under asking in London. Particularly with regards to flats. I know of friends who had their flat in zone 1 on the market for 2 years before receiving interest and an offer.
A rare honest article that includes a mention of “huge net migration” as a contributor to high housing costs. 👏
With renters rights bill around the corner it’s a predictable tactic by the media to paint these parasites as victims. I don’t weep and the gov needs to grow up and get more council housing built.
Feels difficult this one. My last rented flat still had single glazed wooden framed windows in half the flat. The bedroom and bathroom would get absolutely freezing as a result yet the landlord would say it would cost too much to replace them. I just thought that was ridiculous. He didn’t care about my heating bill though and he clearly didn’t care about environment.
Clearly there needs to be something to push landlords to make basic improvements that they would make to their own homes without thinking. At the same time though, the UK housing stock is very old and as a result the EPC rating quite poor generally.
The guillotines suddenly appearing on every street corner?
>Rapidly rising rents should draw investor capital toward the lettings market and away from the owner-occupied sector, easing the deficit of property buyers and addressing the shortage of rentals. But new environmental rules have undermined the laws of economics.
Not if those rapidly rising rents are forcing the market into a point where affordability is a concern which could shrink market demand. If the average one bedroom dwelling is no longer affordable to the average wage earner (or even average wage earning couple) then the more calculated sector of the market simply will wait out the eventual crash and let the casual investor be the bag holder.
Also, a significant issue with rental supply is caused by increased occupancy from people who should have managed to buy their own property.
If the system is built on graduates renting for 5 years before buying a starter home, and is trending towards renting for 12 years, you’ll have a problem with supply.
The article seems to completely ignore all uncomfortable trusts about how the property market in London has been managed irresponsibly because rapid price increases were seen as a bribe to voters.
Mfw my investment stops being as profitable as it used to be and I am forced to sell it to a f*irst time buyer (they have a young child) for more than I bought it for
15 comments
Not miserable enough amirite
Because they’re entitled and greedy and want more
Because they are c**ts
Because they know what they are, deep down
Why is nobody reading the articles before commenting anymore? Geez it’s like being on Facebook
Less Landlords in the market and more properties being sold to owner occupiers is what the article says.
Meanwhile we continue to allow thousands of new build properties to be sold to overseas buyers who intend to keep them empty as an investment.
The article seems to suggest that various government policies have made it expensive for landlords and forced them to sell/exit the rental market. As a result, house prices in London have fallen and rental prices have risen.
The weather. It’s completely ruined my trousahs!
Nobody is reading the article. Landlords are exiting the market en mass and selling up, partly due to environmental regulations being difficult to follow for victorian houses, introducing risks of large fines.
This is causing an increase in owner occupiers, and reducing the supply of rented accommodation. This shortage of landlord owned properties is pushing up rental prices, and causing property prices to stabilise (decrease in value, taking into account inflation)… however most everyday people aren’t in a position to take advantage of this drop.
Anecdotally, I was a first time buyer this year, and properties often weren’t selling, or were going for under asking in London. Particularly with regards to flats. I know of friends who had their flat in zone 1 on the market for 2 years before receiving interest and an offer.
A rare honest article that includes a mention of “huge net migration” as a contributor to high housing costs. 👏
With renters rights bill around the corner it’s a predictable tactic by the media to paint these parasites as victims. I don’t weep and the gov needs to grow up and get more council housing built.
Feels difficult this one. My last rented flat still had single glazed wooden framed windows in half the flat. The bedroom and bathroom would get absolutely freezing as a result yet the landlord would say it would cost too much to replace them. I just thought that was ridiculous. He didn’t care about my heating bill though and he clearly didn’t care about environment.
Clearly there needs to be something to push landlords to make basic improvements that they would make to their own homes without thinking. At the same time though, the UK housing stock is very old and as a result the EPC rating quite poor generally.
The guillotines suddenly appearing on every street corner?
>Rapidly rising rents should draw investor capital toward the lettings market and away from the owner-occupied sector, easing the deficit of property buyers and addressing the shortage of rentals. But new environmental rules have undermined the laws of economics.
Not if those rapidly rising rents are forcing the market into a point where affordability is a concern which could shrink market demand. If the average one bedroom dwelling is no longer affordable to the average wage earner (or even average wage earning couple) then the more calculated sector of the market simply will wait out the eventual crash and let the casual investor be the bag holder.
Also, a significant issue with rental supply is caused by increased occupancy from people who should have managed to buy their own property.
If the system is built on graduates renting for 5 years before buying a starter home, and is trending towards renting for 12 years, you’ll have a problem with supply.
The article seems to completely ignore all uncomfortable trusts about how the property market in London has been managed irresponsibly because rapid price increases were seen as a bribe to voters.
Mfw my investment stops being as profitable as it used to be and I am forced to sell it to a f*irst time buyer (they have a young child) for more than I bought it for
https://preview.redd.it/czwopuc78jwe1.jpeg?width=622&format=pjpg&auto=webp&s=782a85388dfd3ce6dffa5d8574f7026f92dff49f
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