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Wight Flight

Renting. What will the market do?

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2 hours ago, Cunning Plan said:

So it looks like house prices are going to fall.

I still want to rent for the next few year. How do we think this will play out for the rental market?

 

Are you renting at the mo?

I wouldnt STR. But i wouldnt buy at these utterly insane prices either now given pr ices are supposed to be falling(though ive not see n much evidence of this).

 

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1 minute ago, Green Devil said:

Are you renting at the mo?

I wouldnt STR. But i wouldnt buy at these utterly insane prices either now given pr ices are supposed to be falling(though ive not see n much evidence of this).

 

Yes. Been renting for the last 8 years after a bit of a financial disaster.

And being self employed with bugger all chance of a mortgage will be renting til the day I die. (Could be a song in there somewhere!)

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40 minutes ago, One percent said:

Where do you think you are posting?  TOS?  o.O

No. I would never ask on ToS as all landlords are scum and therefore renters are appeasers.

And the answers would have a very large dose of confirmation bias included.

My concern is that there seem to be more and more people chasing fewer decent homes.

 

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Just now, Cunning Plan said:

No. I would never ask on ToS as all landlords are scum and therefore renters are appeasers.

And the answers would have a very large dose of confirmation bias included.

My concern is that there seem to be more and more people chasing fewer decent homes.

 

Are you saying that there are more renters than places to rent?  

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3 minutes ago, Cunning Plan said:

Yes. Been renting for the last 8 years after a bit of a financial disaster.

And being self employed with bugger all chance of a mortgage will be renting til the day I die. (Could be a song in there somewhere!)

If population increase in th SE declines the rent will most certainly fall. I cant see major rises. 

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4 minutes ago, One percent said:

Are you saying that there are more renters than places to rent?  

Maybe. There was a post on Facebook the other day about a three bedder being available. There must have been about 30 people asking to baggsy it.

It is difficult to sell a place with a tenant in situ. If, for sake of argument, 20% of the btl or accidental landlord bunch want to sell up, that could be 1m+ rental properties not available in the short term. 

Which could prove to be a major headache.

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9 minutes ago, Green Devil said:

If population increase in th SE declines the rent will most certainly fall. I cant see major rises. 

Not really talking about price, more about availability. I have been watching where I want to move to for a while. This time last year there were several homes that I would have gone for. Currently, I haven't seen anything suitable on the market in the last two months. It is a bit of a concern.

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1 minute ago, Cunning Plan said:

Maybe. There was a post on Facebook the other day about a three bedder being available. There must have been about 30 people asking to baggsy it.

It is difficult to sell a place with a tenant in situ. If, for sake of argument, 20% of the btl or accidental landlord bunch want to sell up, that could be 1m+ rental properties not available in the short term. 

Which could prove to be a major headache.

Depends where you are. In London and Cambridge for example, huge swathes of flats (apartments in the brochures) have been sold to overseas investors and then left empty. I would image the6 would panic if the price started tanking. There is a massive oversupply in some areas, it is just being kept off the market. 

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1 minute ago, One percent said:

Depends where you are. In London and Cambridge for example, huge swathes of flats (apartments in the brochures) have been sold to overseas investors and then left empty. I would image the6 would panic if the price started tanking. There is a massive oversupply in some areas, it is just being kept off the market. 

Not the areas I am looking at so no great knowledge.

The one thing that I am starting to think is that all the nicer properties (the ones that I would be looking for) have switched from ast to air bnb. 

Hopefully some rule changes might reverse this.

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