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Rents going through the roof (outside that London)?


Knickerless Turgid

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Knickerless Turgid

Purely anecdotal, but the shitty, crumbling slave-box rental that we are shortly to vacate has seen the monthly rent increase from £1250 to £1400. The agent came round for a quick squizz yesterday and said that, were the landlord prepared to accept a void and bide his time, that figure could be £1500-1600.

Given that this is the only decent-sized house on the market and looking at others that have rented recently, I suspect he may be right.

It has left a bitter taste paying over £15k in the last year for a dump, I could not imagine that figure being closer to £20k.

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Castlevania

It was expected as soon as Rishi Sunak banged up housing benefit as part Covid relief. What’s surprised me is that London’s been falling despite his best efforts to support the glorious GDP figures.

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maynardgravy
5 hours ago, Knickerless Turgid said:

Purely anecdotal, but the shitty, crumbling slave-box rental that we are shortly to vacate has seen the monthly rent increase from £1250 to £1400. The agent came round for a quick squizz yesterday and said that, were the landlord prepared to accept a void and bide his time, that figure could be £1500-1600.

Given that this is the only decent-sized house on the market and looking at others that have rented recently, I suspect he may be right.

It has left a bitter taste paying over £15k in the last year for a dump, I could not imagine that figure being closer to £20k.

What's your location? Doesn't have to be exact. 

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Knickerless Turgid
17 minutes ago, maynardgravy said:

What's your location? Doesn't have to be exact. 

Central Wiltshire. Excellent transport links but no well-paying jobs locally.

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spygirl

No.

Every where I've looked is void city.

There might be optimistic pricing. But itll hit a brick wall on actual demand.

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Knickerless Turgid
3 minutes ago, spygirl said:

No.

Every where I've looked is void city.

There might be optimistic pricing. But itll hit a brick wall on actual demand.

Not where I live (ie not on PlanetSpy).

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sancho panza

Leicester isn't seeing it.

LE2

lots of dreaming BTLers asking £2000 per month for 6 beds as if covid hasn't happened and neither has the Uni building 1000's of rooms over the last few years.There's 10 sides of empty student places before you even get to the family homes.They start around the £1250 level probably circa a 4% gross yield.

After that there's one or two places that typify the LL's problem.

eg this 4 bed for £1150pcm.Something similar for sale same st £369,000.3.7% yield.

Herein lies the problem.Little green box.

image.thumb.png.65314127bdaae90e94921fbe7150b1dd.png

 

 

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sancho panza

Having said that one/two bed flats are poor value for money really.Probably 7% gross yields.

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Ash4781b
14 hours ago, spygirl said:

No.

Every where I've looked is void city.

There might be optimistic pricing. But itll hit a brick wall on actual demand.

Yeah the tv reports I saw on so-called suggested there was a massive backlog in the courts. However, the reporter provided no facts so it was probably fabricated. It’s so-called after all with their agendas.

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spygirl
42 minutes ago, Ash4781b said:

Yeah the tv reports I saw on so-called suggested there was a massive backlog in the courts. However, the reporter provided no facts so it was probably fabricated. It’s so-called after all with their agendas.

Oh theres a massive backlog.

Eviction are not going to get a sniff of court til 2022.

Also a massive number of void rentals will be occuipied by Euer, wholl oroaboy piss off back to Europe.

See - Death of London thread.

 

 

 

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Wight Flight
21 hours ago, Knickerless Turgid said:

Purely anecdotal, but the shitty, crumbling slave-box rental that we are shortly to vacate has seen the monthly rent increase from £1250 to £1400. The agent came round for a quick squizz yesterday and said that, were the landlord prepared to accept a void and bide his time, that figure could be £1500-1600.

Given that this is the only decent-sized house on the market and looking at others that have rented recently, I suspect he may be right.

It has left a bitter taste paying over £15k in the last year for a dump, I could not imagine that figure being closer to £20k.

Some landlords have seen the trend and increased rents by 40% or so, others haven't.

They could go to the moon as there are so few properties available, and so many people chasing each property.

It is going to be carnage come April when people get kicked out for the summer season.

 

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spygirl
17 hours ago, Knickerless Turgid said:

Central Wiltshire. Excellent transport links but no well-paying jobs locally.

 

16 hours ago, Knickerless Turgid said:

Not where I live (ie not on PlanetSpy).

Pewsey then.

Economically, Swindon is lurching down n down. Hinda going. Intel, last of big sites, is going to cut.

Without well paying jobs then the area depends on LHA, which is not keeping prices.

 

1 hour ago, Wight Flight said:

Some landlords have seen the trend and increased rents by 40% or so, others haven't.

They could go to the moon as there are so few properties available, and so many people chasing each property.

It is going to be carnage come April when people get kicked out for the summer season.

 

IOW is so wierd that I dont think applies to other areas.

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Wight Flight
6 hours ago, spygirl said:

 

Pewsey then.

Economically, Swindon is lurching down n down. Hinda going. Intel, last of big sites, is going to cut.

Without well paying jobs then the area depends on LHA, which is not keeping prices.

 

IOW is so wierd that I dont think applies to other areas.

Agreed. The market here isn't following any obvious rules.

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Fully Detached

Yep, seeing the same here, and anything half decent is going before I even call the agent. I have 4 months to find somewhere, and am not comfortable that things will ease before then. Best option I think is to get our stuff into storage, then be flexible on where and what we rent. If we have to do 6 months in a shitty little house for the same money as we are currently paying on a really nice place, then it might help convince the wife that this country is no longer the best place for us to be.

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Wight Flight
45 minutes ago, Fully Detached said:

Yep, seeing the same here, and anything half decent is going before I even call the agent. I have 4 months to find somewhere, and am not comfortable that things will ease before then. Best option I think is to get our stuff into storage, then be flexible on where and what we rent. If we have to do 6 months in a shitty little house for the same money as we are currently paying on a really nice place, then it might help convince the wife that this country is no longer the best place for us to be.

That was our plan. Rented a container so we could shrink to a 1 bed flat if need be.

Flip side is we ended up getting an absolutely fantastic place that I would have paid 50% more for if I had to.

Sometimes things just work out for the best.

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Fully Detached
8 minutes ago, Wight Flight said:

Sometimes things just work out for the best.

I'm hoping that is the case for us. Right now I am not so confident.

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Wight Flight
4 minutes ago, Fully Detached said:

I'm hoping that is the case for us. Right now I am not so confident.

You just need to explore every possible avenue.

It is every man for himself at the moment.

Fingers crossed for you.

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sancho panza
3 hours ago, Fully Detached said:

Yep, seeing the same here, and anything half decent is going before I even call the agent. I have 4 months to find somewhere, and am not comfortable that things will ease before then. Best option I think is to get our stuff into storage, then be flexible on where and what we rent. If we have to do 6 months in a shitty little house for the same money as we are currently paying on a really nice place, then it might help convince the wife that this country is no longer the best place for us to be.

Have you been served a S21?

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Fully Detached
8 hours ago, sancho panza said:

Have you been served a S21?

No, and in all honesty I am not averse to just refusing to leave if we can't find anywhere at a decent price between now and then. It would be difficult because our house is an annex of the LL, but if we've got nowhere to go, we ain't going nowhere.

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spygirl

Heres a timely reminder of BTLing in the lower end

https://www.gazettelive.co.uk/news/teesside-news/what-its-like-living-teessides-19921726

John Hay, 64, who runs his own painting business, has lived on West View for the majority of his life. He's owned a property just opposite the cheapest house for the last 25 years, and lives with his wife there.

“I know everybody in this area" he said. "My parents used to live along the road, and my sister too."

He said the row of houses opposite his own have seen a particular decline over the last five years, changing hands many times.

“Look at the state of them” he said. “As soon as tenants leave, people come in and rip the places to shreds. The boilers and furnishings get nicked straight away.

"It's a real shame."

Despite the rough exteriors, he said his neighbours tend to be “right as rain” and that he doesn’t mind that the road can get busy at times.

You dont lose just your tenant and rentat income. You lose your boiler and radiators too.

 

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spygirl

The family run business has been there for 22 years, and over that time they've also owned seven other domestic properties along the road.

"There's been consistent problems at the shop in terms of theft and racist comments towards staff" he said.

"And then the houses we bought just weren't economically viable. Tenants would move in for 6 months, trash the place, and then move on".

Doriana Ikomomi, 33, is an asylum seeker from Albania, who lives on the street with her husband and three young girls aged, 6, 5 and 1.

They’ve been in Hartlepool for the last 2 and a half years, having fled from what she called the “corruption” of their home country and a “dangerous situation" for herself and her family.

“The house isn't ours, it’s under management, but I do feel at home and safe here”.

“The area is nice because it’s so close to the sea. You don’t tend to see people drinking on the street or partying like in city centres, it’s mostly people with children.”

“I don’t have many connections in the area, but our daughters often play with the children of another family close-by. It’s nice to have some friendly faces.”

 

Thats not a reason for asylum. She needs kicking out.

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Yadda yadda yadda
39 minutes ago, spygirl said:

Heres a timely reminder of BTLing in the lower end

https://www.gazettelive.co.uk/news/teesside-news/what-its-like-living-teessides-19921726

John Hay, 64, who runs his own painting business, has lived on West View for the majority of his life. He's owned a property just opposite the cheapest house for the last 25 years, and lives with his wife there.

“I know everybody in this area" he said. "My parents used to live along the road, and my sister too."

He said the row of houses opposite his own have seen a particular decline over the last five years, changing hands many times.

“Look at the state of them” he said. “As soon as tenants leave, people come in and rip the places to shreds. The boilers and furnishings get nicked straight away.

"It's a real shame."

Despite the rough exteriors, he said his neighbours tend to be “right as rain” and that he doesn’t mind that the road can get busy at times.

You dont lose just your tenant and rentat income. You lose your boiler and radiators too.

 

Who would install a second hand boiler? Do they just sell on the parts or get scrap value? Funny how they say how nice the neighbours are. The only people that know a house is empty immediately are the neighbours. They're the ones doing the burglary.

Only one house sold for over a million in the last year on the whole of Teesside. The ninth most expensive was £710k.

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haroldshand
On 27/02/2021 at 11:54, Knickerless Turgid said:

Purely anecdotal, but the shitty, crumbling slave-box rental that we are shortly to vacate has seen the monthly rent increase from £1250 to £1400. The agent came round for a quick squizz yesterday and said that, were the landlord prepared to accept a void and bide his time, that figure could be £1500-1600.

Given that this is the only decent-sized house on the market and looking at others that have rented recently, I suspect he may be right.

It has left a bitter taste paying over £15k in the last year for a dump, I could not imagine that figure being closer to £20k.

I am hearing so many similar stories like this , I hate to say it but for so many people by far the best option is to make yourself a victim in the eyes of the state. Become dependent on drugs or alcohol, get your missus up the stick or if you are a female become pregnant by a loser and play on it, there are so many options. Tell the state that you are in control and take responsibility for your life and they will laugh you all the way to your cardboard box.

I hear about so many Forces lads coming out and on the street, there was big story in the last week of an ex British swimmer who never had kids or claimed off the state and even paid into her pension having to live on the streets at 63, fucking country, and I hear another 200 entered Dover in the last few days with the good weather, many of them I might add were positive with covid

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sancho panza
1 minute ago, sancho panza said:

Anecdotally,firend has jsut rented a nice pad in Devon but at £1500pcm.Says the market there is hot.I suspect with people leaving London.

Banking system will struggle taking CRE lossess that are coming let alone a deflationary event in the Londinium hosuing market.

Think we're going to go like the US for a while,former hot markets empty out while former dour markets hot up.

 

psoted the above in the wrong thread.Here it si.

3 hours ago, Fully Detached said:

No, and in all honesty I am not averse to just refusing to leave if we can't find anywhere at a decent price between now and then. It would be difficult because our house is an annex of the LL, but if we've got nowhere to go, we ain't going nowhere.

I only assk because it's worth pointing out that LL can only claim back £250 or so of eviction costs,hence eviction not a great route.Worth discusing that with LL if you can't find anywhere.Those costs can run into £1000's.

LL's are in a hole even aside from the above fact due to backlog in courts.

Glad youre standing your ground.
Have you got an AST/is teh deposit protected?

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sancho panza
9 minutes ago, haroldshand said:

I am hearing so many similar stories like this , I hate to say it but for so many people by far the best option is to make yourself a victim in the eyes of the state. Become dependent on drugs or alcohol, get your missus up the stick or if you are a female become pregnant by a loser and play on it, there are so many options. Tell the state that you are in control and take responsibility for your life and they will laugh you all the way to your cardboard box.

I hear about so many Forces lads coming out and on the street, there was big story in the last week of an ex British swimmer who never had kids or claimed off the state and even paid into her pension having to live on the streets at 63, fucking country, and I hear another 200 entered Dover in the last few days with the good weather, many of them I might add were positive with covid

So wrong but you're so right.That's how it is.

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