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The number of landlords registering to buy has fallen by 36% on the year across the UK, and by 47% in London, according to the latest figures from Haart.
The number of tenants entering the market across England and Wales fell by 15.6% on a monthly basis but remain 22% higher than in November 2017.
The average rent is down 0.9% and by 3.6% on the year to sit at an average of £1,315 across England and Wales.
Demand in London has risen by 7.6% on the month and by 41.4% on the year. London rents are up 1.2% on the month and by 6.9% on the year, with the average now sitting at £1,937.
The number of buy-to-let sales rose by 1.2% on the year across England and Wales and has fallen by 35% in London.
Average buy-to-let sale prices are down 8.3% across England and Wales on the year, and 28.1% London.
Overall, house prices increased by 1.4% across England and Wales in November.Read the full story:
Learn Change and Adapt ?????
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Doesn't surprise me.... especially the London figures. The numbers don't add up for me in South East London... as soon as mine become empty they are going on the sales market... Which is also not in great shape.Speaking to an agent I have bought a lot of property through he said it is the biggest stand off between sellers and buyers he's ever seen. Unless the asking price is below 2016 it gets very few viewings if any, and then most offers are coming in at least 10% below this... the ordinary buyers are driving bargains like professional investors usually do... investors who he has said he hasn't sold anything to for over a year now.
Strange worrying times
I am in the north and I see propery that would have been purchased by landlords sitting on the market for a long time
landlords are just not buying
and it’s dragging the market down
it is worrying times
and I believe we are just at the start of a correction or simple stagnation both in real terms are a loss with inflation at 3% ish
I don't see a crash happening ( don't know what would constitute a crash? Maybe 30% fall over a period of 6 months or less?)... not without a catalyst like major job losses or a jump I interest rates... could be cause by brexit it who knows... stagnation seems to be the order of the day.Buyers won't pay the prices, sellers won't lower their expectations... big standoff which doesn't look like ending anytime soon
" Unless the asking price is below 2016 it gets very few viewings if any, and then most offers are coming in at least 10% below this "Funny you should say this as in the SE generally I'd say that was when growth stopped and 'crazy pricing' really started. EA's were into their upward-pricing strategy in a big way but I just couldn't see why prices in 2017 and 2018 would be any higher, as I thought the market was very toppy. The UK has seen no reason for prices to go up from 2016 onwards.
The stand-off is an interesting one - people that have been trying to sell at high prices are just sitting on the market, or removing from sale and letting the property out for a bit, if they're lucky.
The agent said to me that high pricing worked before because eventually prices caught up... but it has not happened this time