Expat Forum For People Moving Overseas And Living Abroad banner
Status
Not open for further replies.
1 - 8 of 8 Posts

·
Registered
Joined
·
10 Posts
Discussion Starter · #1 ·
Hi All,

i have been browsing the popular property websites for rentals in greenwich area. today, i had a chat with our company organised realtor and she told me that one should not get carried away by the rentals seen on the websites, and that the actual rentals are atleast 50 pounds per week higher and that it is clearly an owners market now.

am not sure i agree with her...but well she is very experienced and knows the market better. is 1300 a good budget pcm for a terraced house in greenwich (on trafalgar road)

thanks
 

·
Super Moderator
Joined
·
1,911 Posts
Hi All,

i have been browsing the popular property websites for rentals in greenwich area. today, i had a chat with our company organised realtor and she told me that one should not get carried away by the rentals seen on the websites, and that the actual rentals are atleast 50 pounds per week higher and that it is clearly an owners market now.

am not sure i agree with her...but well she is very experienced and knows the market better. is 1300 a good budget pcm for a terraced house in greenwich (on trafalgar road)

thanks
I can´t really tell you about London specifically, but I have found all the flats I have rented in the UK via internet and I have always paid the quoted amount.
 

·
Super Moderator
Joined
·
18,089 Posts
Hi All,

i have been browsing the popular property websites for rentals in greenwich area. today, i had a chat with our company organised realtor and she told me that one should not get carried away by the rentals seen on the websites, and that the actual rentals are atleast 50 pounds per week higher and that it is clearly an owners market now.

am not sure i agree with her...but well she is very experienced and knows the market better. is 1300 a good budget pcm for a terraced house in greenwich (on trafalgar road)

thanks
I have always paid below the asking price for London rentals. Estate agents don't have the best reputation in the UK. I'm not saying there aren't good ones, but they aren't professionally regulated so they can tell you pretty much anything. I do agree that it's an owner's market in London. With banks being stingy with mortgage money more people are finding themselves unable to buy and so they have to rent. Also, Greenwich is one of the spots where Olympic events will be taking place and this could mean more competition for properties. Good properties are going to get snapped up quickly. However, all the estate agents I have dealt with suggested offering below the asking price (also at a time when the rental market was very robust and healthy) and I was always successful in getting a property below the posted asking price. I would check with other agents.
 

·
Registered
Joined
·
39,151 Posts
Hi All,

i have been browsing the popular property websites for rentals in greenwich area. today, i had a chat with our company organised realtor and she told me that one should not get carried away by the rentals seen on the websites, and that the actual rentals are atleast 50 pounds per week higher and that it is clearly an owners market now.

am not sure i agree with her...but well she is very experienced and knows the market better. is 1300 a good budget pcm for a terraced house in greenwich (on trafalgar road)
Rental market is very buoyant in London and properties don't hang around for long, and those which are shown on websites are probably already rented out or will be very soon, often at a premium. What your realtor (we call them estate or rental/letting agent) says is largely true, esp in prime and popular residential area like Greenwich. As people have more difficulties getting finance and mortgage, many are forced to turn to the rental market, which pushes up the demand and the price. And those areas have been largely immune from the slump in housing market seen elsewhere in UK because of persistent demand from overseas buyers, esp from Russia, China and the Middle East and still strong demand from those in the financial services, concentrated in the City and Canary Wharf, easily accessible from Greenwich.

I don't know if your budget is realistic for that particular road, but the only way to find out is to come to UK and see for yourself. Many people arrange temporary accommodation for a couple of weeks to house- and flat-hunt.
 

·
Super Moderator
Joined
·
1,911 Posts
I have always paid below the asking price for London rentals. Estate agents don't have the best reputation in the UK. I'm not saying there aren't good ones, but they aren't professionally regulated so they can tell you pretty much anything. I do agree that it's an owner's market in London. With banks being stingy with mortgage money more people are finding themselves unable to buy and so they have to rent. Also, Greenwich is one of the spots where Olympic events will be taking place and this could mean more competition for properties. Good properties are going to get snapped up quickly. However, all the estate agents I have dealt with suggested offering below the asking price (also at a time when the rental market was very robust and healthy) and I was always successful in getting a property below the posted asking price. I would check with other agents.
Well, damn.

It never even occurred to me that I could offer anything!

I am currently looking at flats in Edinburgh and saw those 'under offer' banners across rental ads for the first time. Makes a lot more sense now! I will definitely try this.
 

·
Super Moderator
Joined
·
18,089 Posts
Well, damn.

It never even occurred to me that I could offer anything!

I am currently looking at flats in Edinburgh and saw those 'under offer' banners across rental ads for the first time. Makes a lot more sense now! I will definitely try this.
Actually, "under offer" means that there is an offer pending. More of a marketing tool for the estate agent to let potential clients know what a good job they are doing, I would think.

I know that the property sales are handled differently in Scotland and perhaps rentals are as well. My experience is only in London where it is common to make an offer lower than the asking price. But, I definitely wouldn't hesitate to negotiate.
 

·
Super Moderator
Joined
·
1,911 Posts
Actually, "under offer" means that there is an offer pending. More of a marketing tool for the estate agent to let potential clients know what a good job they are doing, I would think.

I know that the property sales are handled differently in Scotland and perhaps rentals are as well. My experience is only in London where it is common to make an offer lower than the asking price. But, I definitely wouldn't hesitate to negotiate.
Yes, I realise that. It´s just that the choice of the word 'offer' rather than 'contract' or 'application' indicates that there is indeed a bit of room for negotiation. It was a bit confusing before.

I´ll test the waters when I start to actually talk to letting agents. Only, right now I already have flights for July but no place to stay, yet. That is normal, but still nerve-wracking. So, I might just panic, agree to the rent they´re asking in order to get a flat in one of my preferred catchment areas and clutch the rental contract to my chest until we arrive.
 

·
Registered
Joined
·
10 Posts
Discussion Starter · #8 ·
thanks all,

i will be reaching London next week. we have a company accommodation in a serviced apartment for 6 weeks whilst we are expected to find our own.

i am interested in terraced apartments in greeenwich and i hope to find one. i do agree that rentals seem steep in greenwich compared to selling prices.
 
1 - 8 of 8 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Status
Not open for further replies.
Top