That would pretty much spell the end of the hospitality industry, or any business that relies on discretionary spending.
MultiMidden on
Was bound to happen with the exodus of landlords we’re seeing and with a growing population the demand for housing isn’t going down.
There needs to be a massive social housing programme in the UK. However, hand in hand with that need to be changes to make it very easy for councils/HAs to evict those with convictions for any anti-social crimes and make it harder for them to get social housing. In addition to that the working, disabled and retired (downsizing) need to be prioritised. In effect make the system closer to what it was in the post-war years.
MDK1980 on
Ours just went up by 10%. Tried to negotiate, and the agent was like “well, similar properties in the area are going for £500 more at the moment”, etc. Basically, “consider yourself lucky”.
AcademicIncrease8080 on
_Maybe_, the UK’s rapid population growth of over 500,000 per year is not sustainable (driven by net immigration, which reached +700,000 last year).
Our housing and rental market are just completely overwhelmed, and that is pushing up rents and house prices. The population growth we are experiencing is completely unsustainable. The only winners are the rentier landlord class who can charge ever higher rents, and greeey businesses who want to suppress wages e.g. care homes, farms, delivery companies, construction.
silverbullet1989 on
Sure why not, squeeeeeeze some more blood out of the stones.
peakedtooearly on
Someone should tell the Bank of England that this is why people keep asking for “above inflation” pay rises.
It’s ‘cos the actual cost of living has been rising faster than inflation for over a decade.
Outside_Wear111 on
It rose 22% in the last 5 years, thats more than “almost 20%”
Dont understand why people see a headline like this and act like its Labours fault, rents have been surging at this exact rate for decades.
Mysterious_One9 on
Add the 5% min year on year council tax rise in and there’s not a lot of disposable income left for those already struggling.
reedy2903 on
It’s total chaos glad am not a renter, thing is people blame landlords but the gov have been screwing them which in turn just screws the renter it’s a crazy loop.
Electricbell20 on
I find it odd how councils aren’t pushing through more housing as it means more council tax revenue. You can have the same population but get substantial more council tax by having that population spread across more units.
IgneousJam on
We are now in a post-capitalist society. This is no longer capitalism, this is feudalism/rentierism. Meritocracy is over.
Matterbox on
Savills warns of rent hikes.
Savills increase rents.
Kinitawowi64 on
My rent went up 37% in one swoop last year. 20% in five years doesn’t sound as bad.
Agile-Signal-8147 on
That’s 3.75% annually, doesn’t seem all that crazy to me?
Werallgonnaburn on
The short-termism we see in the UK is the reason this is going to get worse and worse. We should be having a 25 year plan or something along those lines that commits to building millions and millions of new properties, preferably high-quality, affordable apartment blocks. At the same time massive buidling of infrastructure to support the new housing which could be used to train a generation of tradesmen and provide jobs.
At the end of the day, people just want a decent place to live, so rather than dreaming of having a three bed semi, people should be taught that quality apartment blocks are the best way to achieve this, considering the UK doesn’t haven’t an almost endless amount of land like the US, China, Australia, etc. Better to build up than out, as long as it’s done to a high standard.
But this is Brexit Britain, so you can forget that. In 25 years, regardless of who is in power, we’ll be having the same conversations only it will be much worse.
Automatic_Sun_5554 on
Maybe if landlords weren’t hammered at every turn with more cost, tax and regulation, they’d not be leaving in droves and more competition would stifle prices.
I had 51 people for the last property I advertised. I was offered over the asking price without them even seeing the property. I could have literally named my price.
Having Landlords ‘firmly in their sights’ is exactly the sort of government behaviour that looms popular on the surface but makes it worse in reality.
Sailing-Cyclist on
Does any remember when they’d be able to save money. What a luxury.
BurnMyFaceOff on
I’m just coming to the end of a 4 year tenancy in a 1 bed flat in Tonbridge, when I moved in I was paying £750, the new tenant, same flat, no changes will be paying £1050
dolphindoom5 on
How anyone can afford to live in cities like London, I have no idea. Employers need to expand flexible and remote working so we don’t have dense populations living in unaffordable, poor quality housing where they’re at the mercy of ruthless landlords and unable to save to buy their own home
Alex_Zoid on
I seriously don’t understand how you are meant to get on the property ladder nowadays without the bank of mum and dad. Must be horrible having to rent for so long.
20 Comments
That would pretty much spell the end of the hospitality industry, or any business that relies on discretionary spending.
Was bound to happen with the exodus of landlords we’re seeing and with a growing population the demand for housing isn’t going down.
There needs to be a massive social housing programme in the UK. However, hand in hand with that need to be changes to make it very easy for councils/HAs to evict those with convictions for any anti-social crimes and make it harder for them to get social housing. In addition to that the working, disabled and retired (downsizing) need to be prioritised. In effect make the system closer to what it was in the post-war years.
Ours just went up by 10%. Tried to negotiate, and the agent was like “well, similar properties in the area are going for £500 more at the moment”, etc. Basically, “consider yourself lucky”.
_Maybe_, the UK’s rapid population growth of over 500,000 per year is not sustainable (driven by net immigration, which reached +700,000 last year).
Our housing and rental market are just completely overwhelmed, and that is pushing up rents and house prices. The population growth we are experiencing is completely unsustainable. The only winners are the rentier landlord class who can charge ever higher rents, and greeey businesses who want to suppress wages e.g. care homes, farms, delivery companies, construction.
Sure why not, squeeeeeeze some more blood out of the stones.
Someone should tell the Bank of England that this is why people keep asking for “above inflation” pay rises.
It’s ‘cos the actual cost of living has been rising faster than inflation for over a decade.
It rose 22% in the last 5 years, thats more than “almost 20%”
Dont understand why people see a headline like this and act like its Labours fault, rents have been surging at this exact rate for decades.
Add the 5% min year on year council tax rise in and there’s not a lot of disposable income left for those already struggling.
It’s total chaos glad am not a renter, thing is people blame landlords but the gov have been screwing them which in turn just screws the renter it’s a crazy loop.
I find it odd how councils aren’t pushing through more housing as it means more council tax revenue. You can have the same population but get substantial more council tax by having that population spread across more units.
We are now in a post-capitalist society. This is no longer capitalism, this is feudalism/rentierism. Meritocracy is over.
Savills warns of rent hikes.
Savills increase rents.
My rent went up 37% in one swoop last year. 20% in five years doesn’t sound as bad.
That’s 3.75% annually, doesn’t seem all that crazy to me?
The short-termism we see in the UK is the reason this is going to get worse and worse. We should be having a 25 year plan or something along those lines that commits to building millions and millions of new properties, preferably high-quality, affordable apartment blocks. At the same time massive buidling of infrastructure to support the new housing which could be used to train a generation of tradesmen and provide jobs.
At the end of the day, people just want a decent place to live, so rather than dreaming of having a three bed semi, people should be taught that quality apartment blocks are the best way to achieve this, considering the UK doesn’t haven’t an almost endless amount of land like the US, China, Australia, etc. Better to build up than out, as long as it’s done to a high standard.
But this is Brexit Britain, so you can forget that. In 25 years, regardless of who is in power, we’ll be having the same conversations only it will be much worse.
Maybe if landlords weren’t hammered at every turn with more cost, tax and regulation, they’d not be leaving in droves and more competition would stifle prices.
I had 51 people for the last property I advertised. I was offered over the asking price without them even seeing the property. I could have literally named my price.
Having Landlords ‘firmly in their sights’ is exactly the sort of government behaviour that looms popular on the surface but makes it worse in reality.
Does any remember when they’d be able to save money. What a luxury.
I’m just coming to the end of a 4 year tenancy in a 1 bed flat in Tonbridge, when I moved in I was paying £750, the new tenant, same flat, no changes will be paying £1050
How anyone can afford to live in cities like London, I have no idea. Employers need to expand flexible and remote working so we don’t have dense populations living in unaffordable, poor quality housing where they’re at the mercy of ruthless landlords and unable to save to buy their own home
I seriously don’t understand how you are meant to get on the property ladder nowadays without the bank of mum and dad. Must be horrible having to rent for so long.