Central London Rental Prices

Whataretheodds · 21/12/2023 11:41

nothing has changed
Inflation has changed, interest rates have changed, availability of property to rent (and people unable to get mortgages) has changed.

Greed hasn't!

queenofallqueens · 21/12/2023 12:51

Whataretheodds · 21/12/2023 11:41

nothing has changed
Inflation has changed, interest rates have changed, availability of property to rent (and people unable to get mortgages) has changed.

Greed hasn't!

It's not greed.
My mortgage has just come up for renewal from 1.9% to 5.5%
I've had to pay into the sinking fund for some capex for the flats.
Even with my increase in rent, I am barely breaking even.

TinkerTiger · 21/12/2023 12:52

Also, Spitalfields. They'd get something for cheaper if it was Lewisham 💁🏽‍♀️

SquashPenguin · 21/12/2023 12:54

That’s probably cheap for Spitalfields.

Twiglets1 · 21/12/2023 12:56

It’s a trendy area and they probably will have a great time there for a while. Then move out to a cheaper area when they want somewhere bigger.

Whataretheodds · 21/12/2023 13:20

queenofallqueens · 21/12/2023 12:51

It's not greed.
My mortgage has just come up for renewal from 1.9% to 5.5%
I've had to pay into the sinking fund for some capex for the flats.
Even with my increase in rent, I am barely breaking even.

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Did you miss the rest of my post?

You might not be profiteering but there is no doubt that some landlords are profiteering.

queenofallqueens · 21/12/2023 13:47

Whataretheodds · 21/12/2023 13:20

Did you miss the rest of my post?

You might not be profiteering but there is no doubt that some landlords are profiteering.

Show quote history

No I did not miss it. I am sorry my response fell short.

And yes the intent is to profit. I and I'm assuming most landlord's are not charities.

Nesbi · 21/12/2023 13:50

Unless they have a dire need to live in Spitalfields I guess it isn’t too expensive, as they are willing to pay it.

mondaytosunday · 21/12/2023 14:07

@Whataretheodds what do you think landlords do? Of course they need to make a profit, and if they are kept in check by market forces so they are not 'profiteering'. I am a landlord and I do not have a mortgage on two of my properties. But I charge the going rate. It's my total income.
There are unscrupulous landlords just as there are unscrupulous people in any business.

Whataretheodds · 21/12/2023 15:09

mondaytosunday · 21/12/2023 14:07

@Whataretheodds what do you think landlords do? Of course they need to make a profit, and if they are kept in check by market forces so they are not 'profiteering'. I am a landlord and I do not have a mortgage on two of my properties. But I charge the going rate. It's my total income.
There are unscrupulous landlords just as there are unscrupulous people in any business.

🙄 did you actually read what I wrote or are you getting angry at what you assumed I said.

literaryloveaffair · 21/12/2023 16:30

Reforma · 21/12/2023 11:40

DD and her girlfriend are about to move in together. They both have quite well paid jobs. They’ve rented a flat in Spitalfields for £2,500 for a one bedroom flat 😧

When did London rentals become so insanely expensive? They found the advert from 2019 and the rent was £1,700 and nothing has changed.

I bought my (very small 2 bed) flat in london zone 3 (NW) in 2019. The rent for the (identical) flat opposite me was £1400 when i bought, then rose to £1600. It is now £1900. So increase is smaller but i guess it is central london. Probably suffers from the airbnb effect, why rent it out when you can airbnb it. Not many people would want or need an airbnb where I live as its a 15 minute walk to the station and then 20 minutes to central london .

BranchGold · 21/12/2023 16:38

london is a particular kind of bonkers at the moment, much as the rest of the U.K./global economy.

hopefully they’re having a great time and enjoying their experiences.