The answer to high house prices -start renting from a private landlord. Rent increased at just 1% & private rents are more stable than social housing. | Discuss

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The answer to high house prices -start renting from a private landlord. Rent increased at just 1% & private rents are more stable than social housing.
04/08/2014
3:02 pm
Mary Latham
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The answer to high house prices -start renting from a private landlord. Rent increased at just 1% & private rents are more stable than social housing.

The ONS released figures on rental prices this week that make for interesting reading and imply that an answer to high house prices could be to start renting.

Rental prices are rising slower than inflation

This is important because real wages aren't growing that quickly and house price inflation is far faster than CPI inflation anyway.

Rental prices have only been rising by one per cent nationally (compared to 6.4 per cent for sales), which is much more manageable for people whose real wages have been stagnant since the crisis.

The data shows private rental costs, but when we include social rental costs we can see that private renting is often more stable because prices aren't pegged to inflation, as social housing rents often are. This means the landlords often take a hit, but its better for the person renting.

Source. http://www.cityam.com/14070581.....top-buying

How nice to read statistics that equate to real life experience for a change. I am sure that I am not the only landlord who is tired of hearing about huge rent increases preventing people from saving a deposit to buy.

In the West Midlands,where I have let for over 40 years, we are not seeing big rent increases and in some areas rents have remained stable for years. I have some very nice properties, in sought after areas, where I have increased the rent by under 10% over the last 15 years. Often those increases were made only when a new tenant moved in because, like many landlords, I prefer to keep good tenants rather than increase rents.

Private landlords are part of the solution to the housing crisis not part of the problem - as these statistic clearly show

Follow me on Twitter @landlordtweets

04/08/2014
8:52 pm
PaulBarrett
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Wouldn't it be bizarre if private rents were outstripped by social rents!!??

That would shut silly Ed up!!

04/08/2014
9:54 pm
David Price
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PaulBarrett said
Wouldn't it be bizarre if private rents were outstripped by social rents!!??

That would shut silly Ed up!!

Oh no it wouldn't, he needs something to lambaste. Smile

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