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Author Topic: Cost of rent in the private rented sector.  (Read 17550 times)

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Field Marshal Dr. Opti

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Cost of rent in the private rented sector.
« on: 09 September 2018, 12:44:07 »
Figures according to Homelet Rental Index.............July 2018.

UK average...................£937
UK average excluding London......£777
South East................. £1041
London .....................£1615

The cheapest is the North East at £525.

These are just crazy figures. Presumably private renting is far more expensive than social housing rent.

How does anyone afford these rents?
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Migv6 le Frog Fan

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Re: Cost of rent in the private rented sector.
« Reply #1 on: 09 September 2018, 12:51:57 »
Daughter pays £2150 for a one bedroom, third floor flat near Liverpool street station. She is trying to save a deposit to buy something similar for around £700,000.
Utter madness, but its supply & demand.
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dave the builder

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Re: Cost of rent in the private rented sector.
« Reply #2 on: 09 September 2018, 13:05:56 »
cardboard boxes are cheap but finding a shop doorway or park bench with a long secured lease is quite hard  . :-\
so some people have to pay stupid rent prices . if they don't have a spare £50,000 as a deposit for a mortgage  :P
there used to be council houses but they got sold off cheap by the conservatives .
the prisons are full and workhouses are closed . :'(
"we should make some slight provision for the poor and destitute"  :P
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #3 on: 09 September 2018, 13:25:16 »
Quote from: Migv6 on 09 September 2018, 12:51:57
Daughter pays £2150 for a one bedroom, third floor flat near Liverpool street station. She is trying to save a deposit to buy something similar for around £700,000.
Utter madness, but its supply & demand.

£25800 P/A on rent..........AND try and save. :o :o :o :o

Can't be easy. :-\
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #4 on: 09 September 2018, 13:29:51 »
Quote from: dave the builder on 09 September 2018, 13:05:56
cardboard boxes are cheap but finding a shop doorway or park bench with a long secured lease is quite hard  . :-\
so some people have to pay stupid rent prices . if they don't have a spare £50,000 as a deposit for a mortgage  :P
there used to be council houses but they got sold off cheap by the conservatives .
the prisons are full and workhouses are closed . :'(
"we should make some slight provision for the poor and destitute"  :P

Back in the 'good old days' I took out a 100% mortgage and bought a new Yamaha FJ1200 (£4840) with the money I would have used as a deposit.

Not sensible but far more fun. :)
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #5 on: 09 September 2018, 13:38:55 »
Quote from: Migv6 on 09 September 2018, 12:51:57
Daughter pays £2150 for a one bedroom, third floor flat near Liverpool street station. She is trying to save a deposit to buy something similar for around £700,000.
Utter madness, but its supply & demand.

London really is some form of parallel universe.

£700,000 for a one bed third floor flat. The mind boggles. Just imagine what STMO could buy in Barnsley for that kind of money.
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Sir Tigger KC

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Re: Cost of rent in the private rented sector.
« Reply #6 on: 09 September 2018, 13:47:53 »
A friend of mine who lives in Singapore is on the move to a detached 4 bed house with a pool.  :y

The rent is £8700 a month at todays exchange rate!  :o

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Kevin Wood

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Re: Cost of rent in the private rented sector.
« Reply #7 on: 09 September 2018, 13:52:14 »
Quote from: Field Marshal Dr. Opti on 09 September 2018, 13:38:55

£700,000 for a one bed third floor flat. The mind boggles. Just imagine what STMO could buy in Barnsley for that kind of money.
FTFY :y
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Varche

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Re: Cost of rent in the private rented sector.
« Reply #8 on: 09 September 2018, 14:01:28 »
Not the answer but these pods maybe coming to a place near you soon.

https://elpais.com/elpais/2018/09/06/inenglish/1536222871_147929.html

Airbnb hasn't helped the situation in any tourist destination
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Alnico Blue

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Re: Cost of rent in the private rented sector.
« Reply #9 on: 09 September 2018, 14:04:07 »
Done a water leakage job at  a "Townhouse" (3 floors) in Enfield yesterday  . . .nothing special , in fact pretty run down  ???

Once inside found it was split into 9  single rooms all induvidually let by the landlord at £200 a WEEK each . . . That  equates £7200 per month  :o :o :o  or  £ 86 Grand a year

Some property owners are making a LOT of money  :o :o :o :o :o
« Last Edit: 09 September 2018, 14:07:59 by Alnico Blue »
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Kevin Wood

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Re: Cost of rent in the private rented sector.
« Reply #10 on: 09 September 2018, 14:07:31 »
Quote from: Varche on 09 September 2018, 14:01:28
Not the answer but these pods maybe coming to a place near you soon.

https://elpais.com/elpais/2018/09/06/inenglish/1536222871_147929.html

Airbnb hasn't helped the situation in any tourist destination

Quote
Haibu means beehive in Japanese, and the company website says that people are social creatures who were meant to live in communities that help each other out, like bees in a hive.

What have they been smoking? ;D
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TheBoy

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Re: Cost of rent in the private rented sector.
« Reply #11 on: 09 September 2018, 14:39:07 »
Having spent yet another night in Londonium, shocked I couldn't get food in any local pub or restaurant when I finished work around 10:45pm (I can even get a table in Brackley at that time), I really, really, really do fail to see the fascination or desire to want to be anywhere near that shithole.


Foodwise, I supped several pints of cider on a very empty stomach, which made me a bit slow the next morning.
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Varche

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Re: Cost of rent in the private rented sector.
« Reply #12 on: 09 September 2018, 15:05:51 »
Quote from: TheBoy on 09 September 2018, 14:39:07
Having spent yet another night in Londonium, shocked I couldn't get food in any local pub or restaurant when I finished work around 10:45pm (I can even get a table in Brackley at that time), I really, really, really do fail to see the fascination or desire to want to be anywhere near that shithole.


Foodwise, I supped several pints of cider on a very empty stomach, which made me a bit slow the next morning.

I used to find the same when I visited London years ago. Nice to visit, nicer to get away. All the hassle with parking and traffic and the prices.
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STEMO

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Re: Cost of rent in the private rented sector.
« Reply #13 on: 09 September 2018, 15:25:57 »
Quote from: Field Marshal Dr. Opti on 09 September 2018, 12:44:07
Figures according to Homelet Rental Index.............July 2018.

UK average...................£937
UK average excluding London......£777
South East................. £1041
London .....................£1615

The cheapest is the North East at £525.

These are just crazy figures. Presumably private renting is far more expensive than social housing rent.

How does anyone afford these rents?
The UK 'average' is like any other average figure, Bollix. It doesn't take into account any regional variations. We rented a new build, 3 bed detached house while looking for this one...£575 a month.
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STEMO

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Re: Cost of rent in the private rented sector.
« Reply #14 on: 09 September 2018, 15:30:02 »
In Barnsley, you can get a very decent house for £150000. If you have a 10% deposit, i.e. £15000, your mortgage repayment at, say, 3%, would be around £640 a month. Much better than renting.
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