[iustask8]

Feel like venting some frustration about the housing market...

We rent a large studio, which some estate agents might call a 1 bed flat, in North London for just over £500 a month. I think we have a good deal and have lived here for 4yrs.
When I look at the rents now it makes me shudder! Agents would probably want £200 a week for our place now... It's crazy.

The thing is if people pay these prices then agents can continue to charge these rents. Of course a lot of it goes to them in fees so they need to get a fair whack in order to return a good sum to the landlord.
We negotiated a cheaper rent with ours and it was through an agency. I really recommend people to barter and not just pay what the agents ask.

It looks like property prices might start to fall this year and I've already seen prices drop around here. Check out properysnake.co.uk it tracks falling house prices by area. If a price drops it will be added to the site unless the client removes it from the listing which they do and often re-add it later whichever suits them best.

Also agents would have you believe that you need to pay the asking price for a property or very near to it and be quick about it. This is all in their interest and it helps the market to create some fear so that people act according to what the agent wants them to do.

We need to stick together and only pay reasonable rents/house prices which will I believe inturn affect the housing market. If housing prices fall so too should the price of renting. Anyway this year proves to be an interesting one for all of us.

enough ranting for now...

p.s some countries do not have a culture of ownership like ours and just rent all of their life. It's not really yours anyway it's the banks until you have paid back in full.

[montyzuma]

"We need to stick together and only pay reasonable rents/house prices which will I believe inturn affect the housing market."

yep that could work and meantime we sleep on the street?

market forces im afraid nobody knows whats is ahead, apart from some who think they do, you just have to go with the flow and do yer best. or what you think is your best

[iustask8]

That's a rather simplistic response... I'm guessing you are a B&W person how about all the shades of grey?

Of course i'm not expecting people to do that! I think it is important to remember that the buyer/tenant also has some power and can lower the price/rent so that increases are realistic and not the crazy inflated prices we have seen in recent years.

I'm guessing you may be a home owner? I'm not against making profit from owning property or anything. However, have wages risen the same as house prices? I don't think so! How are people ever supposed to buy their first property?

[montyzuma]

<raises eyebrows> MINE is a implistic response.

being b$w i wouldnt know

The tenant can only offer a lower price with a hope of acceptance when there is an oversupply of rental properties such as in leeds at present.

where there is an undersupply the opposite applies. I suppose the trick is, is to get yourself on the right side. some people are putting their money where their mouth is and gambling that house prices are going to plummet by selling their houses. a dangerous business imho.


guess away. it's a free world.

re making profit oh good, not a communist then.
oH. the wonders of a free market economy following the laws of supply and demand

it isnt a law that people have to buy their own property, in germany most people rent.

you do what you have to do