If youre interested in the future you should be watching whats happening. Im very concerned to see that entities that arent from here or paying taxes here are gobbling up homes and once theyre gone thats it, theres no getting them back. Your Landlord wont be a few roads away, a county away or the other end of UK It will be a faceless monster from US. And what happens when theyve bought 25% , then 50% then more. They could mow the entire housing stock down, displace everyone. There will be no chance of independent wealth for UK landlords, no homes for future families to buy and inherit, nothing sensibly priced for UK renters either.
Theres plenty of serious and sensible reports on youtube British Home Group for one. The gvt is pandering Blackrock. A search for Blackrock buying up Britain will explain.
And perhaps a taste of the future is an open rent property 4 bedrooms CH66 for 6000 a month. Yes 6k to rent.
UK Landlords and homeowners, dont sell to them, sell up, buy 1+ cheap, no mortgages, rent out what you wont live in, keep prices real and your future safe.
The property you’re referring to is being advertised for short lets and is clearly a very high spec. Inflated prices are typical for short lets. Advertised prices don’t reflect actual let prices either. For example, already just let in CH66 is another 4 bed for £1,650 pcm.
I’m not saying that your entire post is misleading, but the example you cite is certainly not illustrative of “a taste of the future”.
Successive Government’s have adopted the strategy of trying to nudge individual private landlords out of the sector to be replaced by more controllable corporate landlords. This may solve the issue of poor quality housing and rogue landlords, but it brings a whole raft of other potential issues, such as the one you highlight and others as yet unforseen.
Landlord zone has some data on landlords selling up, showing the number of rentals is decreasing as landlords selling up. Also when landlords sell it is generally not to other landlords .only 4% sold to other landlords, that is good to stitch up Local Councils but not for tenants. As I have said before ,I recently sold 2 places but not to landlords ,so I am doing my bit of stitching
Im not talking about next week or next year but 2,3, 5 years? is feasible.
Its an 80s estate of pleasant but closely built houses. Beautiful spec I agree but nothing can justify 6k, it will just encourage idiocy in the housing / rental market
This country is in serious trouble. Serious. Its so depressing, how are average working people supposed to have a home? how will youngsters ever get a home.
No landlord has to justify whatever rent they want to advertise at. It’s entirely up to them. And if someone wants to pay that, again, that’s up to them.
As I said, whatever the merits of your argument, that property was an extreme example of a landlord chancing his/her luck. There are plenty of examples of more reasonably priced properties that have already let in CH66.
The future will undoubtedly be different from the present. Thus it ever was.
You only have to look at the utility and rail companies that have been bought by investors from abroad, they corner the market then screw us. Other countries have their head screwed on but ours isnt
I firmly believe the government are too short sighted and ill informed / prepared to manage the PRS productively, and party politics will always get in the way of sensible decisions.
They will reap what they sow, and landlords and tenants will no doubt suffer along the way from their incompetence.
