Foxtons hit by 'cautious' renters who are choosing to stay put rather than move

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MrMarkyMark replied

22 October 2015, 15:17
Foxtons
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PurpleGorilla replied

22 October 2015, 15:11
Originally posted by AtW View Post

" A 'record number' of tenants chose to extend their tenancies rather than move over the summer

London-focused estate agent Foxtons said revenues at its residential-lettings department were broadly flat over the summer, as a "record number" of tenants chose to extend existing tenancies rather than move to new properties.

Residential lettings revenue rose just 3.3pc to £22.6m in the three months to the end of September, contrasting with a 13pc jump in commissions from property sales.

Howard Archer, chief economist at IHS Economics, said renters are feeling more cautious about the housing market and are more likely to stay in the same property, where they can negotiate a better deal.

"This may well be a sign that there is concern the costs of renting are headed up, given rising house prices and the probability that interest rates will start heading up in 2016, albeit gradually." "

Source: Foxtons hit by 'cautious' renters who are choosing to stay put rather than move - Telegraph

FFS, they can't fecking afford INSANE house prices even with super low interest rates (which WILL go up!).

The end is nigh!!!

Bring it on. Burn baby burn.
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AtW started a topic Foxtons hit by 'cautious' renters who are choosing to stay put rather than move

22 October 2015, 15:07
Foxtons hit by 'cautious' renters who are choosing to stay put rather than move

" A 'record number' of tenants chose to extend their tenancies rather than move over the summer

London-focused estate agent Foxtons said revenues at its residential-lettings department were broadly flat over the summer, as a "record number" of tenants chose to extend existing tenancies rather than move to new properties.

Residential lettings revenue rose just 3.3pc to £22.6m in the three months to the end of September, contrasting with a 13pc jump in commissions from property sales.

Howard Archer, chief economist at IHS Economics, said renters are feeling more cautious about the housing market and are more likely to stay in the same property, where they can negotiate a better deal.

"This may well be a sign that there is concern the costs of renting are headed up, given rising house prices and the probability that interest rates will start heading up in 2016, albeit gradually." "

Source: Foxtons hit by 'cautious' renters who are choosing to stay put rather than move - Telegraph

FFS, they can't fecking afford INSANE house prices even with super low interest rates (which WILL go up!).

The end is nigh!!!
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