Wow, a whole £10/month less! That’ll undo all those £50/month rises year-on-year rises tenants typically expect through the post on an annual basis.
jasonbirder on
Hehe I knew I’d look at the responses and they’d all be explaining how this isn’t actually any good (rents falling)
inverseinternet on
Finally, we can stop catastrophising. The End of Austerity and more money in our pockets. We’ve never had it so good.
sefianiy on
It is weird to think that rent not going up is already a win for most of Londoners
Dimmo17 on
The first ever record fall in rental price index since 2011, whilst median wage increases are around 4% and all people will do is moan!
Jo3Pizza22 on
What’s with all of these comments. Of course £10 a month is not making a meaningful difference to anyone, but this is good news. Would you rather average rent had increased again?
Virtual-Being-6489 on
For the first time in 15 years rents haven’t gone up and this subreddit is still full of people whining. Nothing will please some people.
phunter79 on
Then why the fuck is mine going up again for the 3rd year in a row!
parkway_parkway on
I think we may be at the peak.
Birthrates have been low and crashing for a while.
Immigration is falling.
The economy is completely boned.
House prices are high as a multiple of wages.
I think it’s quite possible house prices and rents will rise slower than inflation for quite a while now and the whole market will deflate. It feels hard to imagine a huge run of house price appreciation.
In real terms house prices are back to where they were at in 2006 (though that’s mostly because everything else got expensive too, they’re still much costlier compared to wages).
The future is totally impossible to predict, and imo the main drivers of rent and house prices are going to stall out.
SubjectCraft8475 on
Where i live in the midlands rents have gone down around £100-£1200. Basically a 3 bedroom house is around £1100 – £1200. When t was around £1200-£1300. Seen someone advertise recently for £1300 where ut use to be easy to get to then drop down to £1150 with new tennants.
I think this is mainly due to many foreign students no longer coming to the UK who bring their families. Usually the type of people who use student visas with an intention to work here and then settle.
Only-the-bright-side on
All have a seen are prices going up by £200-300. Privet renting is a nightmare.
Only_Quote_Simpsons on
My flat was £710pm, then £770, then £830.
I handed in my notice and purchased a home, the landlord relisted the property for £970pm. It was quickly snapped up by someone.
Rent is so expensive, I appreciate that landlords have costs, but a lot of it is just greed.
It also didn’t help that the rent increase always took effect in December every year, it made the whole thing feel even more impersonal.
I am glad I have a better paid job now, if I was on minimum wage, I would never escape the rent trap.
SquidgyB on
I’ll believe it if/when my rent *doesn’t* go up in June/July…
Objective_Dig420 on
Why aren’t the people moaning about it being too little just buy a house that would solve all the problems
Ok-Good3636 on
I guess that’s of course because of the brexit and the fact that back then were people coming in the country to work and now they only leave?
sulphurwind on
My SW London rent has consistently increased each year by £75 or £100 each year and no negotiation to reduce it. Alas it matches “market value”, which basically means – to me – landlords are all increasing so anyone that doesn’t raise is below value.
Mr_Flibbles_ESQ on
Doesn’t really mean much – We bought a house last year after 10 years of renting.
Rent started off at £600, over the course of 10 years it made it’s way up to £750
Not a massive increase, quite reasonable I always thought.
When we moved out it went back on the market at £1,250.
No work had been done, the bathroom was dated when we moved in and the cheap kitchen had issues (broken cupboard doors and literally coming away from the wall).
50_61S-----165_97E on
Will somebody not think of the poor landlords? How else are they going to afford their second yacht without the usual 10% rental increase??
Haliucinogenas1 on
For the past 5 years my rent was increasing steadily 120£/months. Thank YOU so much for 10£ off. I could not live without it
Wadarkhu on
Just got off the phone to my landlord, they’re inconsolable.
mixxituk on
GoodNewsUk is bleeding into UnitedKingdom by only the second year of labours term
citrusman7 on
Renters should tip that money to the landlords for the charity they do
NSW0lf on
Ooooh another fine example of the classic rocket and feather economic model
Zealousideal-Wafer88 on
You mean landlords weren’t able to think of a bigger number this time? Have we hit peak landlord?
24 Comments
Wow, a whole £10/month less! That’ll undo all those £50/month rises year-on-year rises tenants typically expect through the post on an annual basis.
Hehe I knew I’d look at the responses and they’d all be explaining how this isn’t actually any good (rents falling)
Finally, we can stop catastrophising. The End of Austerity and more money in our pockets. We’ve never had it so good.
It is weird to think that rent not going up is already a win for most of Londoners
The first ever record fall in rental price index since 2011, whilst median wage increases are around 4% and all people will do is moan!
What’s with all of these comments. Of course £10 a month is not making a meaningful difference to anyone, but this is good news. Would you rather average rent had increased again?
For the first time in 15 years rents haven’t gone up and this subreddit is still full of people whining. Nothing will please some people.
Then why the fuck is mine going up again for the 3rd year in a row!
I think we may be at the peak.
Birthrates have been low and crashing for a while.
Immigration is falling.
The economy is completely boned.
House prices are high as a multiple of wages.
I think it’s quite possible house prices and rents will rise slower than inflation for quite a while now and the whole market will deflate. It feels hard to imagine a huge run of house price appreciation.
In real terms house prices are back to where they were at in 2006 (though that’s mostly because everything else got expensive too, they’re still much costlier compared to wages).
The future is totally impossible to predict, and imo the main drivers of rent and house prices are going to stall out.
Where i live in the midlands rents have gone down around £100-£1200. Basically a 3 bedroom house is around £1100 – £1200. When t was around £1200-£1300. Seen someone advertise recently for £1300 where ut use to be easy to get to then drop down to £1150 with new tennants.
I think this is mainly due to many foreign students no longer coming to the UK who bring their families. Usually the type of people who use student visas with an intention to work here and then settle.
All have a seen are prices going up by £200-300. Privet renting is a nightmare.
My flat was £710pm, then £770, then £830.
I handed in my notice and purchased a home, the landlord relisted the property for £970pm. It was quickly snapped up by someone.
Rent is so expensive, I appreciate that landlords have costs, but a lot of it is just greed.
It also didn’t help that the rent increase always took effect in December every year, it made the whole thing feel even more impersonal.
I am glad I have a better paid job now, if I was on minimum wage, I would never escape the rent trap.
I’ll believe it if/when my rent *doesn’t* go up in June/July…
Why aren’t the people moaning about it being too little just buy a house that would solve all the problems
I guess that’s of course because of the brexit and the fact that back then were people coming in the country to work and now they only leave?
My SW London rent has consistently increased each year by £75 or £100 each year and no negotiation to reduce it. Alas it matches “market value”, which basically means – to me – landlords are all increasing so anyone that doesn’t raise is below value.
Doesn’t really mean much – We bought a house last year after 10 years of renting.
Rent started off at £600, over the course of 10 years it made it’s way up to £750
Not a massive increase, quite reasonable I always thought.
When we moved out it went back on the market at £1,250.
No work had been done, the bathroom was dated when we moved in and the cheap kitchen had issues (broken cupboard doors and literally coming away from the wall).
Will somebody not think of the poor landlords? How else are they going to afford their second yacht without the usual 10% rental increase??
For the past 5 years my rent was increasing steadily 120£/months. Thank YOU so much for 10£ off. I could not live without it
Just got off the phone to my landlord, they’re inconsolable.
GoodNewsUk is bleeding into UnitedKingdom by only the second year of labours term
Renters should tip that money to the landlords for the charity they do
Ooooh another fine example of the classic rocket and feather economic model
You mean landlords weren’t able to think of a bigger number this time? Have we hit peak landlord?