my girls can not rent where we live as it cost around £2000 a month to rent a one bedroom flat and even a room in an HMO is £1000 plus a month.They can’t be held responsible for property prices going up which means higher mortgages, when there’s factors like an ever increasing population and shortage of properties which increases demand therefore house prices shoot up.
Interest rates shooting up regularly over these last few years, isn’t the fault of landlords but it does mean higher mortgage payments and most landlords just want these rents to cover these outgoings.
That’s without the insurances and safety checks that need paid for. Also required is a little safety blanket for any repairs or refurbs after a tenant has moved out.
loads of the properties have been bought simply to rent out and have already paid off the mortgage.
Lots of landlords are companies and are turning homes into HMOs so house prices are going up, but the number of 2, 3 or 4 bedroom homes for families and couples starting out is declining.
8 or 9 houses in our street have become HMOs ... each charging over £1000 amonth and they have turned 3 bedroom homes into 6 bedsit per home.
And all the while local kids cant afford to get anywhere local to live.
And this is in the Woolwich Plumstead Abbey Wood area... where houses go for around £400,000
