Space Race: Tenants on fixed budgets settle for less, says agency

Well the Bentley's gone, traded down for a second-hand Fiat 500, hard times, lol

I don’t know what Hamptons are on about my Rents haven’t gone up at all just problems brewing on the back of Michael Gove’s WHITE PAPER when he got sacked why didn’t this go as well. The Average Rent, there is no average Rent if you don’t specify what Town or part of the Country you are referring to. The figures given are they for a flat costing say £150k in some parts or similar flats in London costing £450k.
It not just Tenants financial ability is eroded it everyone’s we are all impacted, like yesterday reported a pint of milk last year cost 43p now £1.05 @ a Super Market express. I won’t bother to tell you how much a bag of Plaster is gone up, wait until you need one you’ll find out.

Ditto Michael… they are now quoting 18% inflation for early next year, the bank base rate also shooting up 🙄 along with god knows what in the energy bills. This is like nothing I have experienced before, and it’s truly unknown how the country will cope, or just as important…. React, civil unrest anybody? The number of landlords selling I think will ramp up.

I'm like Michael in that I haven't put my rents up - I absorb additional costs myself. I want my tenants to be able to pay the rent.

And I agree with Simon that the number of landlords selling will ramp up over the next year because of the rental reform legislation. The problem willl be most acute in London where the return on property through letting is perhaps only 2%.

For people investing in property, both capital appreciation/depreciation and return are considerations - and capital is under threat as sitting tenants and rent controls become a real future possibility, particularly after the next election. The return in London is not sufficient for the risk involved. Paying capital gains tax on an empty property will be cheaper than the loss in value of the houses with sitting tenants.

I concur with Ellie Edwards, very astute of you. very strange that the government hasn't factored in the damage that the banks will face when their investments in BTL go sour.

• Ellie Edwards
• 23 August 2022 07:33 AM

Thank you Edwin!

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We don’t have to wear masks now but can the Regulators at least take off the blindfolds and scrap the WHITE PAPER a key factor of the causes.

It's already happening in Wales D day is in December when we lose S21 and notice periods if eviction is possible go up to 6 months. Most of mine are going on the market. S21's being arranged this week while I still can use them.

William, this is ridiculous being forced out because of Mr M Gove writing nonsense, he’s not fit for Parliament at all and thinks he should be Prime Minister.

• David Crisp
• 23 August 2022 10:45 AM

So so right.........

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Michael. In Wales case it is the dreadful Drakeford and his Rent Smart Wales licencing scheme that has done this. I do have lots of sympathy for the tenants I an forcing out as it will be just before Christmas, but I have no other alternative if I want to sell up. I had planned for 1 a year but have to accelerate that now.

It’s not very smart then driving out Landlords and making Rents more expensive, how does that help the housing crisis, maybe is should be called Rent Stupid Policy.

Stalin's policy was to organise strikes and to attack landlords, in other countries of course. Sounds familiar?