10:28 AM, 26th August 2017, About 5 years ago 12
A few us of secretly signed up to receive Generation Rent emails some time ago, mainly to stay abreast of their latest propaganda.
However, they now appear to be inadvertently giving us insight into the best places to invest for both rental and capital growth. Apparently, all we need to do is find out where Waitrose would like to open stores in the future, buy there and watch the money pour in.
Below is the email they recently sent out.
We look forward to reading your comments.
Here’s the extract from the Generation Rent update email ….
If Waitrose opens a new store in your local area, it could mean different things: job opportunities with a well-regarded employer, extra choice for your weekly shop – or, if you’re a renter, an eviction notice through the door.
Oxford academic David Adler has pored over eviction data from the Ministry of Justice and opening dates of Waitrose branches between 2005 and 2015. In a paper, published by Generation Rent, he found that areas see an increase in no fault evictions of between 25 and 50% when they get a new store.
He links this to rising house prices. Waitrose tends to open up in areas that are getting wealthier – i.e. through higher house prices. The presence of a Waitrose then attracts wealthier people into the area, which pushes up house prices further. Some landlords respond to rising property values by selling up, or finding tenants who can afford a higher rent – and that involves turfing out their current tenants.
It would be unfair to blame this phenomenon on Waitrose, but it does illustrate the impact of gentrification for private renters, when we have so little security over our homes. Renters shouldn’t face a forced move just because their neighbourhood is becoming more fashionable.
It’s another reason why we’re campaigning to end Section 21, the law that gives landlords the ability to evict tenants with no reason – and no grounds for appeal. If landlords are supposed to be in business for the long haul, the law should not make it so easy to evict someone who is upholding their side of the agreement.
We’re proposing restrictions and a penalty to deter landlords from evicting blameless tenants, giving tenants greater stability and a financial safety net if they are forced to move.