Bog Roll ::

It's Not Magic, It's Work!

09 Dec 2008

£6 Million per Hour

According to The Torygraph, property investors are losing wealth at a rate of £6 million per hour in the UK, as commercial and residential property prices normalise after the decade long bubble that has just burst. As rents fall through the flour at the same time and the massive over supply of property of all kinds sinks in, they can't even rent out their property for the long haul to tough out the current conditions.

Our previous landlady having tarted the house up but failing to sell it has now put in back on the rental market. When we were evicted there were fewer than half a dozen properties to rent in our village, now six months later there are more than two dozen. I think she may find the rental market just as tough as the sale market...