Property Mole » arla

Rise in family homes for rent

Gill Montia — Thu, 14 Apr 2011 07:21:04 +0000

The start of 2011 saw an influx of higher-value property into the UK’s private rented sector, with an 11.6% increase in the average capital value of a rented house in the first three months of the year, to £447,900. According to research from the Association of Residential Letting Agents (ARLA) the rise comes alongside an [...]

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Rental demand to outstrip supply into 2012

Gill Montia — Sun, 06 Mar 2011 07:16:37 +0000

Demand for private rental sector (PRS) property will continue to outstrip supply for much of 2011 and into next year, the Association of Residential Letting Agents (ARLA) claims.
In a survey of members, ARLA found that 59% of agents believe tenants will be competing for properties this year, although almost four in ten thought that more [...]

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Landlords should focus on energy efficiency agenda

Gill Montia — Wed, 09 Feb 2011 07:10:23 +0000

Landlords should be considering measures to improve the energy efficiency of their properties now, the Association of Residential Letting Agents (ARLA) recommends.
The Government’s Green Deal (which should be up and running in Autumn 2012) will provide up-front financing to make rental properties more energy efficient, where tenants request improvements.
However, by 2015, landlords who don’t comply [...]

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Landlords note rise in cash-strapped tenants

Gill Montia — Wed, 12 Jan 2011 11:20:58 +0000

More tenants were at risk of slipping into arrears in the final quarter of 2010, with 40% of landlords reporting a rise in cash-strapped renters, the Association of Residential Letting Agents (ARLA) has reported.
The proportion compares with 35.9% of landlords with tenants in financial straits during the previous three-month period, representing the first increase for [...]

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Stamp Duty – Change demanded by property experts

Editor — Mon, 23 Nov 2009 00:04:42 +0000

Industry heavyweights have added their support to the 1808 Coalition, set up by the National Association of Estate Agents (NAEA) and the Association of Residential Lettings Agents (ARLA) to campaign for the Government to modernise Stamp Duty.

1808 Coalition partners are:

• Association of Mortgage Intermediaries (AMI)

• Association of Residential Lettings Agents (ARLA)

• Building Societies Association (BSA)

• Council of Mortgage Lenders (CML)

• Home Builders Federation (HBF)

• National Association of Estate Agents (NAEA)

• National Landlords Association (NLA)

Peter Bolton-King, Chief Executive of the NAEA, said: “The Coalition believes that Stamp Duty is an anachronistic tax which, in its current form, is preventing a recovery in the housing sector – it limits market flexibility, creates regional inequality and its slab structure unfairly distorts the housing market. With the Pre Budget Report due soon, now is the time for the Government to take action.”

The current Stamp Duty “holiday” for properties lower than £175.000 is due to expire at the start of 2010 but in a recent survey by the NAEA, 91 per cent of estate agents surveyed felt that it should be extended. 86 per cent of those surveyed felt that the tax is unfair.

Ian Potter, Operations Manager of ARLA said: “Not only does Stamp Duty prevent those aspiring to own a home from doing so, it also impacts the whole property chain. For ARLA members, this means having to pay Stamp Duty on the bulk price of a portfolio, when individual buy-to-let investors pay a lower rate on the single unit price.”

Robert Sinclair, Director of the AMI, said: “It is rare that the breadth of our industry comes together with such consensus on an issue. But the current Stamp Duty regime is distorting the market to such an extent that we feel compelled to speak out. The Association of Mortgage Intermediaries is fully committed to supporting this industry campaign to reform the regime. We implore the Government to not only listen but, to act in support of our request for change to this damaging tax.”

John Stewart, HBF’s Director of Economic Affairs, said: “It is imperative that the first signs of market stabilisation that have emerged in recent months, and which have allowed home builders to begin tentatively opening new sites and expanding output and employment, are nurtured. The Government’s stimulus measures for housing, including the raised stamp duty threshold, have played a significant part in this stabilisation and it is vital that they are not removed at this still fragile stage, either in total or in part.”

Adrian Coles, Director General, BSA, said: “The current Stamp Duty system in the UK is archaic and in desperate need of reform and modernisation. A fairer and transparent system is needed that doesn’t discriminate against young and first time home buyers, and promotes an effective housing market.”

Michael Coogan, Director General, CML, said: “We urge the government to announce a comprehensive and long-overdue review of Stamp Duty. Reform is needed of a tax that distorts the housing market.”

David Salusbury, Chairman, NLA, said: “Stamp Duty Land Tax is a pernicious tax which has failed to keep pace with house price appreciation. It creates an unbalanced housing market and discourages investment in housing. Reform is needed now.”

Anyone wishing to register comments on the campaign, or on Stamp Duty, should visit: http://www.nfopp.co.uk/1808

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