Rents in England and Wales rose for the first time in three months in April, according to the latest buy-to-let index from LSL Property Services. The lettings agent chain recorded a 0.5% average increase, to £709 per month, although the annual rate of gain steadied to 2.4%, compared to 2.7% in March. Rents rose in [...]
Rental Property News
Private rental yields fail to satisfy institutional investors
A new report from Hamptons International takes a look at the challenges faced by institutional investors considering investing in the UK private rental market. According to the study, low yields are the biggest barrier – target gross yields were assumed to be between 4.5% and 5% compared with 5.5% to 6% for commercial property. The [...]
Private rental yields fail to satisfy institutional investors
A new report from Hamptons International takes a look at the challenges faced by institutional investors considering investing in the UK private rental market. According to the study, low yields are the biggest barrier – target gross yields were assumed to be between 4.5% and 5% compared with 5.5% to 6% for commercial property. The [...]
Crackdown on “beds in sheds” landlords
A national taskforce has been set up to tackle the issue of “beds in sheds” and take action against criminal landlords harbouring illegal immigrants. Housing Minister, Grant Shapps, and Immigration Minister, Damian Green, are holding a series of cross-Whitehall summits with representatives from the police, the UK Border Agency and local government. Together, they intend [...]
Crackdown on “beds in sheds” landlords
A national taskforce has been set up to tackle the issue of “beds in sheds” and take action against criminal landlords harbouring illegal immigrants. Housing Minister, Grant Shapps, and Immigration Minister, Damian Green, are holding a series of cross-Whitehall summits with representatives from the police, the UK Border Agency and local government. Together, they intend [...]
Rents soon to level out
Rental prices in the private rental sector (PRS) could be levelling out, according to letting agents. Research from the Association of Residential Letting Agents (ARLA) shows that in the first three months of the year, 50% of members were confident of increased achievable rent levels, in line with news of rising rents across the UK. [...]
Rents soon to level out
Rental prices in the private rental sector (PRS) could be levelling out, according to letting agents. Research from the Association of Residential Letting Agents (ARLA) shows that in the first three months of the year, 50% of members were confident of increased achievable rent levels, in line with news of rising rents across the UK. [...]
Landlords continue property acquisition spree
Landlords continued buying extra properties during the first three months of the year, according to buy-to-let lender, Paragon, typically increasing portfolio sizes by 1.8 properties to an average holding of 10.8. Twenty per cent of landlords questioned said they expect to purchase property in the next 12 months, with terraced houses still the top choice [...]
Landlords continue property acquisition spree
Landlords continued buying extra properties during the first three months of the year, according to buy-to-let lender, Paragon, typically increasing portfolio sizes by 1.8 properties to an average holding of 10.8. Twenty per cent of landlords questioned said they expect to purchase property in the next 12 months, with terraced houses still the top choice [...]
Benefit cuts make letting unaffordable
New research from the National Landlords’ Association (NLA) claims that around one half of private landlords can’t afford to rent to tenants on Local Housing Allowance (LHA) because of government cuts. In a recent survey, 53% of landlords said they believed renting to tenants on benefits is now unaffordable; over two-thirds didn’t expect to have [...]
Benefit cuts make letting unaffordable
New research from the National Landlords’ Association (NLA) claims that around one half of private landlords can’t afford to rent to tenants on Local Housing Allowance (LHA) because of government cuts. In a recent survey, 53% of landlords said they believed renting to tenants on benefits is now unaffordable; over two-thirds didn’t expect to have [...]
Rents fall for second month
Rents in England and Wales dipped by 0.3% in March, falling for the second consecutive month to an average £705 pcm, according to the latest buy-to-let index from LSL Property Services. The South West and East Midlands saw the biggest decreases, with rents falling by 1.5% and 1.4% respectively compared with February. Average rent also [...]
UK rental market “flourishing”
The UK rental market is flourishing with an additional 58,000 properties marketed in 2011 compared to 2010, according to Experian’s “Movers’ Index”, which offers insights across the housing market. The number of properties put up for rent rose in every quarter of 2011, with Q3 seeing the most significant year-on-year increase, at 14.46%. Unsurprisingly, seasonal [...]
“Timid” planning reforms fail to address affordability
The Government’s “timid” planning reforms will not solve affordability problems in the UK housing market, according to the Institute of Economic Affairs (IEA). In a new report entitled “Abundance of land, shortage of housing”, the right-wing think tank claims that not enough is being done to reduce the “extraordinarily” high cost of housing in Britain. [...]
“Timid” planning reforms fail to address affordability
The Government’s “timid” planning reforms will not solve affordability problems in the UK housing market, according to the Institute of Economic Affairs (IEA). In a new report entitled “Abundance of land, shortage of housing”, the right-wing think tank claims that not enough is being done to reduce the “extraordinarily” high cost of housing in Britain. [...]
Right to Buy relaunched with £75,000 discounts
The Government has launched a “reinvigorated” Right to Buy scheme that will provide £75,000 discounts to help social tenants into home ownership. According to Housing Minister, Grant Shapps, 2.5 million social tenants now have the opportunity to buy their homes with dramatically increased discounts, after years of declining discounts made Right to Buy meaningless in [...]
Landlords overlooked in budget
Landlord Assist, the nationwide tenant referencing and eviction firm, says the Government missed the perfect opportunity in yesterday’s Budget to stimulate investment and encourage future growth in the buy-to-let sector. Key announcements in the Budget included an increase in the personal tax allowance threshold, a reduction in top rate of income tax from 50p to [...]
Rents dip as tenants look to buy
Rents in England and Wales dipped in February as tenants considered moving into the sales market to beat the end of the stamp duty holiday. According to the latest buy-to-let index from LSL Property Services, average rent fell by 0.6% to £707 per month, with the biggest decreases in the East Midlands (-2.2%) and West [...]
Rents dip as tenants look to buy
Rents in England and Wales dipped in February as tenants considered moving into the sales market to beat the end of the stamp duty holiday. According to the latest buy-to-let index from LSL Property Services, average rent fell by 0.6% to £707 per month, with the biggest decreases in the East Midlands (-2.2%) and West [...]
Credit ratings to include rent arrears
A new service launched by Experian means that tenants in the UK private rented sector could see their credit rating hit if they run into rent arrears. While information about mortgages is currently included in credit reports, rent payment information is not but Experian’s new Rental Exchange will allow tenants’ payment histories to be included, [...]
Lettings agent complaints up 26%
Following another year in which lettings complaints increased, property ombudsman, Christopher Hamer, is renewing his call for standards to be raised across the lettings industry. In 2011, the ombudsman’s office dealt with 7,641 letting enquiries, with the figure up 26% on 2010. Just over 25% of last year’s complaint enquiries concerned letting agents who were [...]
Debt charity highlights rise in rental clients
New figures from the Consumer Credit Counselling Service (CCCS) indicate that UK households in rented accommodation are “swimming against a tide” of falling real incomes when it comes to repaying unsecured debt. An analysis of the 370,000 people who made contact with the charity in 2011 show that renters have been affected most severely by [...]
Property professionals fear squatting will increase despite new legislation
Although anti-squatting legislation is now going through parliament, 62% of property professionals still fear that they will become a victim of squatting in the future and over 40% report they are currently experiencing problems with squatters, according to Lockton. Property professionals are concerned that the new law focuses on criminalising squatting in residential buildings, but [...]
Broadway launches property fund for homeless
Broadway has launched the first property fund to buy accommodation to support homeless people in London. Resonance, a fund management business specialising in impact investments, will manage the fund which will support the charity’s Real Lettings operation. This currently provides 220 flats in the private-rented sector for people who don’t qualify for social housing and [...]
Review to encourage private rental investment
Sir Adrian Montague has issued a formal call for evidence to support his independent review of the barriers faced by institutional investors looking to enter the UK’s private rental sector (PRS). The review forms part of the Government’s housing strategy and will consider ways and means of boosting investment in the over-stretched PRS from, for [...]
