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Original poster

How much have rental/property prices risen where you are?

54 replies

Sloughsabigplace · 11/02/2022 13:59

I’m bloody shocked at how much they have risen here. We’re Black Country, West Midlands.

We moved here two years ago, dh is from here and we were getting priced out of even renting in the SE, not a hope of ever buying there unless we won the lottery.

I’ve been looking on Rightmove recently as I am going to have to rent out a relatives property now they are going into a home and a few of the places we looked at renting when we first came here are on the market again for £250 to £300 a month than they were 2 years ago.

We bought our current house a year ago for £175k. Now, there is nothing even comparable for less than £210k. We bought at the top of our budget - if we would have waited, we would have been priced out of the market here too for buying anywhere.

It’s absolutely crazy here, houses are on for a week and then they are gone.

It’s not the nicest of places either (dh words too having been born and bred here), I’m shocked that a three bed to rent is around £900 a month now.

OP posts:
ivykaty44 · 11/02/2022 14:00

they haven't in 3 years, in fact they came down slightly over lockdown and have now gone up to what they were before

ivykaty44 · 11/02/2022 14:03

I’m shocked that a three bed to rent is around £900 a month now

im shocked at this.

www.rightmove.co.uk/properties/118946222#/?channel=RES_LET

Northernsoullover · 11/02/2022 14:03

I rent a 3 bed for 820. I had a nose on rightmove and to rent similar now would be 1200. If I get asked to move out I'm fucked. I'm hoping to but. I've just cancelled my Netflix subscription so that's an extra 100 in the pot at year end Hmm

Interested in this thread?

Then you might like threads about these subjects:

Cost of living Property
ivykaty44 · 11/02/2022 14:04

www.rightmove.co.uk/properties/118712453#/?channel=RES_LET

or this

nomorefrogs · 11/02/2022 14:06

I rent a 3 bed for £1100 pcm

Original poster
Sloughsabigplace · 11/02/2022 14:07

@Northernsoullover

I rent a 3 bed for 820. I had a nose on rightmove and to rent similar now would be 1200. If I get asked to move out I'm fucked. I'm hoping to but. I've just cancelled my Netflix subscription so that's an extra 100 in the pot at year end Hmm
That was why we had to move here in the end. Our landlord wanted to sell and everything else was £300 more expensive - London so moving a few miles would have made no difference to prices.

I honestly don’t know how people will cope in a lot of areas, it’s not like wages have increased.

OP posts:
ivykaty44 · 11/02/2022 14:08

commonslibrary.parliament.uk/research-briefings/cbp-8658/

section 21 to end

Original poster
Sloughsabigplace · 11/02/2022 14:09

@nomorefrogs

I rent a 3 bed for £1100 pcm
£900 a month for a 3 bed would have sounded like a dream to me when we were renting in London, but a few years ago you could rent a 3 bed in this area for £600 per month.

It’s just crazy how the prices are going up here so fast.

OP posts:
DanteThunderstone · 11/02/2022 14:52

They've risen hugely here. Flats that were 550pcm five years ago are now 900. Recently saw a small 2 bed semi in an unlovely former mining village with lousy transport links for 1150. I know of three families still living together even though the parents have split up because they literally can't find or afford to get a new rental for one parent. And I feel very sorry for the kids in those homes which must be full of tension.

Original poster
Sloughsabigplace · 11/02/2022 15:47

@DanteThunderstone

They've risen hugely here. Flats that were 550pcm five years ago are now 900. Recently saw a small 2 bed semi in an unlovely former mining village with lousy transport links for 1150. I know of three families still living together even though the parents have split up because they literally can't find or afford to get a new rental for one parent. And I feel very sorry for the kids in those homes which must be full of tension.
Yes, when we were in London there were a couple of families I knew in that situation too.
OP posts:
Waxonwaxoff0 · 11/02/2022 15:52

I'm in a cheap ish part of the east mids. 8 years ago I moved into a 2 bed flat rented for £425pm. Now you're looking at £500+.

Waxonwaxoff0 · 11/02/2022 15:56

18 months ago I bought a house and I was told that today it would sell for £20k more than I paid, I've done nothing to it apart from paint a couple of rooms.

Chikapu · 11/02/2022 15:57

We were renting a two-bedroom apartment in Cork for 800 euros, it went up to 1200 then again to 1500 within the space of a year. We ended up buying a tiny old house just to get away from renting.

Original poster
Sloughsabigplace · 11/02/2022 16:02

@Chikapu

We were renting a two-bedroom apartment in Cork for 800 euros, it went up to 1200 then again to 1500 within the space of a year. We ended up buying a tiny old house just to get away from renting.
wow!

Yeah, that’s what we have done. We have bought a place that needs some work (mainly cosmetic, thankfully). It was at the top of our budget though so it will take time, but it was the only place with the space we needed that we could afford.

Although, Rightmove sold prices says it was £90k cheaper ten years ago, untouched! I wish we had taken the plunge and moved up here a decade ago rather than slog our guts out working flat out to pay London rent.

But it was a good decision when we are seeing rent increase so steadily.

OP posts:
Original poster
Sloughsabigplace · 11/02/2022 16:03

Crazy, isn’t it.

OP posts:
emmathedilemma · 11/02/2022 16:07

This is my shock find so far!
www.zoopla.co.uk/to-rent/details/60736483/?search_identifier=c54bc1071b9136f485e29a8e05e13185
Looking at Edinburgh rentals it seems to be around £900 for a 2 bed flat, £1100+ for 3 beds and more if you want a really nice area or desirable part of town.
Ouch to this! www.zoopla.co.uk/to-rent/details/60724251/?search_identifier=2da78e3bd884530baaea6b8cce3fdac5

HopefulProcrastinator · 11/02/2022 16:12

A 2 bed (one double, one single) flat around here will set you back around £850. Used to be around £500 about 4 years ago.

3 beds is £1000 for a flat, more for a house and landlords can still cherry pick.

We had to move last year because old landlord was selling and our costs have almost doubled between rent increase and the joy that is council tax rises, food price increases and of course the delightful situation with utilities.

NI increase is going to put us flat on our arses. The only way out for us would be to move in with one of our parents...who most definitely don't have room for an extra 4 people living with them!

fairgame84 · 11/02/2022 16:32

A 3 bed down our street was max £750pcm last year. Now there is one for £925pcm. I wish we'd moved last year, we can't afford a 3 bed now.

glitteringfishy · 11/02/2022 16:35

We moved into our two bed 8 years ago and pay £775. The going rate is now at least double that. It’s crazy. Our landlord is likely to sell soon and we’re terrified, I really don’t know what we will do.

Evanesco · 11/02/2022 16:41

We bought our house in March 2020 and just had it revalued for our remortgage and its increased in price by 20% (we've done nothing to it, the whole area we live in has just seemingly become more popular)

BrocolliHamster · 11/02/2022 16:50

There seems to be a huge shortage of rentals where I am (small town in South West)
We're currently in a 2 bed cottage for £785, whuch is cheap for the area, similar places are closer to £850.

Three beds are astronomical, a few years back they were between £750 and £900, now they are £900 upwards, some going for crazy money like £1400. People are paying those prices because they are desperate not to be homeless. The landlords who do this should be ashamed.

Chikapu · 11/02/2022 16:56

@Sloughsabigplace

Crazy, isn’t it.
It is, the housing market here in Ireland is dire atm. We have friends who are desperate to get out of renting and there's just nothing to buy.
Youhaveyourhandsfull · 11/02/2022 17:48

This is the problem with an unregulated rental market. I’m quite pro free market for some things but rent just doesn’t make sense, it’s vital for people to have an affordable home.
I don’t live in the UK but the property market here is more expensive than London, but rent it controlled in that all agreements can only increase at an agreed percentage a year (think it’s 1.5%). For two years no rental increase has been allowed for any landlord at all.

RidingMyBike · 11/02/2022 17:51

There's huge competition for rental places at the moment because a lot of landlords sold up with the stamp duty holiday. We're renting at the moment (sold down south, relocated north for work, trying to find somewhere to buy). We started looking at houses under £1500 but kept being refused viewings as they already had so many booked. Those I did view I had a 15 minute slot with a queue of others waiting outside and you had to prove how 'worthy' you were to rent it! If I hadn't had a permanent full time work contract, no pets and non-smoking household we wouldn't have even been granted a viewing!
We've ended up in a 4 bed at £2000 per month which is far more than we intended to pay. It's just about affordable at a squeeze but we can't afford to do this for very long!

FrippEnos · 11/02/2022 17:59

around here its just under £1K for a one bed flat. Studios are about £800. My colleague is renting a 2 bed for £1300.