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Tenants Fighting Each Other Over Rental Properties As Supply Drops And Demand Increases

Tenants Fighting Each Other Over Rental Properties As Supply Drops And Demand Increases

Tenants Fighting Each Other Over Rental Properties
As Supply Drops And Demand Increases

Tenants looking to rent in the UK’s private rented sector face competition from other would be tenants as demand increases and supply contracts, according the Association of Residential Letting Agents (ARLA).

ARLA’s latest report has discovered that 68% of landlords surveyed reported more interested tenants than available rental properties.

This is the largest successive increase in tenant demand in the last 12 months, with tenant demand figures up from 46% in Q3 2013, 54% in Q1 2014, 59% in Q2 2014; meaning an increase of 9% between the second and third quarters of the year to date.

The tenant demand data is reinforced by the fact that supply of suitable rental properties in the private rental sector has decreased in the last quarter, with ARLA letting agent members recording a 6% drop in the average number of managed Buy To Let properties on their books, down from 143 to 135 per member agency.

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Record University Applications Are Good News For Student Property Investors

Record University Applications Are Good News For Student Property Investors

Record University Applications Are Good News
For Student Property Investors

 Current and prospective student property investors have been delighted to see university applications hit record levels. According to a report from UCAS, this year saw a 4% increase in the number of applications, signalling a likely increase in demand for student property.

The increase in applications – which forms part of a continuing upward trend – comes in spite of the fact that there were fewer 18 year olds amongst the UK population this year. The rise shows that more and more people are looking towards higher education after leaving school and college. By the deadline on January 15th, UCAS had received applications from roughly 580,000 18 year olds. This represents approximately 35% of all 18 year olds in the UK.

Student numbers took a serious hit a few years ago, after a high-profile hike which saw tuition fees almost tripled. However, since that time student numbers have been gradually increasing again and have now essentially recovered from the blow.

The higher education sector has enjoyed something of a rebirth as a result, and university-level qualifications remain highly desirable.

According to Mary Curnock Cook, chief executive of UCAS, there is “a remarkably persistent growth in demand for higher education” which is illustrated by these recent figures. She went on to display that the increased demand could be seen universally. It applies to applications for all institutions, and from students of all backgrounds and groups. Demand was also increasing regardless of tuition fee differences, suggesting that this factor is now not hindering university applications in the way it did immediately following the hike.

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Buy-To-Let Mortgage Lenders Reducing Rates As Demand Soars

Buy-To-Let Mortgage Lenders Reducing Rates As Demand Soars

Buy-To-Let Mortgages Improving To Meet Increased Demand

UK mortgage lenders are offering more Buy-To-Let mortgages, with better rates on smaller deposits, in response to soaring demand from property investors and portfolio landlords over the past year.

Buy-To-Let mortgage lending increased by 18.6% in 2013 compared to 2012, according to the latest figures from the Council of Mortgage Lenders (CML).

The last quarter of 2013 also saw Buy-To-Let mortgage lending finish strongly, despite a predictable seasonal dip in December, with lending up 20% against the same period of 2012.

Demand for Buy-To-Let mortgage loans is picking up as landlords in the UK seek to expand their rental property portfolios, with over 30% aiming to buy more properties in the next 12 months and more than 80% of UK private rental sector (PRS) landlords are making a full-time living from their lettings activity according to the latest BM Solutions/BDRC Continental Landlord Panel.

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Surge In New Buy-To-Let Mortgage Products Confirms Rental Property Revolution

Surge In New Buy-To-Let Mortgage Products Confirms Rental Property Revolution

Surge In New Buy-To-Let Mortgage Products Confirms
Rental Property Revolution

A number of market leading lenders have introduced improved Buy-To-Let mortgage products to meet the growing demand for portfolio expansion by UK landlords.

The surge in the number of new mortgage products coming to market confirms that the UK buy-to-let industry is growing across the whole of the UK and there are even more BTL products still awaiting launch dates from lenders.

Paragon Mortgages has introduced a new Buy-To-Let mortgage product for single unit properties, Houses of Multiple Occupation (HMO’s) and multi-unit blocks; the rate is fixed at an initial 5.49% for a maximum Loan-To-Value (LTV) of 75% with a 2% product fee.

The Post Office, (and its financial services partner the Bank of Ireland) have also entered the Buy-To-Let mortgage market, launching a range of buy-to-let mortgages at 60% and 75% LTV – some of their BTL mortgage products don’t even have an arrangement fee and include free valuation.  

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Mortgage Lending Up £1.7 Billion (GBP)

Mortgage Lending Up £1.7 Billion (GBP)

UK Mortgage Lending Up £1.7 Billion (GBP)

The latest mortgage lending figures released by the Bank of England show that lending secured on residential property increased by £1.7 Billion (GBP) in December 2013, compared to the average monthly increase of £1.1Billion (GBP) observed during the previous six months of the year.

The increase is generally being credited to the success of the Government’s Help-To-Buy scheme, with London leading the way on residential property price rises, but what is the real situation affecting the UK?

Director of e.surv chartered surveyors, Richard Sexton, explained: “Mortgage lending in the UK is improving at lightning-speed. Lending has hit a six year high, as banks continue to offer cheap loans and interest rates, and repayments remain low. Mortgage lenders have dramatically increased lending to borrowers with smaller deposits, which has encouraged more first-time buyers to the market. And the government’s Help-To-Buy scheme has given consumers a huge confidence boost, which has increased lending volumes further. But the heart of the market remains in London and the South East. In other areas of the country the recovery is far slower. House prices may be increasing quickly, particularly in the capital, but it’s important not to withdraw Help-To-Buy too soon. In London, buyers need the scheme to get on the ladder. In many other areas, wage growth has been comatose since the economic crash, would-be property buyers simply don’t have enough income to save for a deposit. Building more houses would be a far more prudent approach to capping price rises than trimming down the Help-To-Buy scheme prematurely.”

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UK PRS Landlords Expect Tenant Demand To Increase

UK PRS Landlords Expect Tenant Demand To Increase

42% Of UK PRS Landlords Plan 2014 Rent Increases

According to the latest survey by specialist house share website, Spareroom.co.uk, 42% of UK private rented sector landlords expect to increase rental prices over the next 12 months and of those some 26% are planning to increase rents by more than 3%, which is significantly higher than inflation.

In their latest Rental Index, Spareroom revealed the average cost of a double bedroom in a shared house increased by 4.5% in the final quarter of 2013, reaching a new average of £507 (GBP) per calendar month.

Room rents in London also saw a rise in prices, with an increase of 2% over the same time frame, meaning the average cost of a double room in a shared house in the nation’s capital is now at an average cost of £676 (GBP) per calendar month.

Whilst some landlords plan to increase rental prices, 58% of Spareroom’s Rental Index respondents stated that they will not be raising rents and 5% of UK PRS landlords claimed that they intend to reduce rents during 2014. 

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Webinar tonight for an exciting and lucrative new project

MPPT have been contacted by John Wilson from Property Investment Blueprint as he has an amazing opportunity to share with you and we don’t want you to miss out,

So over to John.

John Wilson Is Looking For Partners For A Brand New Project

John Wilson Is Looking For Partners For A Brand New Project

Hi MyPropertyPowerTeam readers I hope you had an AMAZING Christmas and New Year and you’ve all set your goals for 2014! 

Well, tonight (Thursday), you might be making some changes to these goals because what myself and my business partner — Billy Farrell — will be announcing is going to rock your world! 

Billy’s name may be familiar to those in property as a sourcing expert.  In his internet marketing career, he has generated well into 7 figures of online sales. 

–> Reserve your spot on the webinar now! 

I’m not saying that to blow smoke up Billy’s behind but it’s important for you to know his credentials because we want *you* to work with us!

You see, Billy and I have been working on a VERY exciting and lucrative new project.

There is no way that we can service the GIANT demand in this market ourselves so we are looking for people to partner with us on this and take a share in the profits.

We already have a  number of UK property millionaires on board but there is plenty of opportunity for everyone so we want to let a few more folks in on the action.

So…

You need to DROP EVERYTHING and make sure you’re in on the LIVE webinar tonight (Thursday 16th January) at 9pm (GMT).

–> Reserve your spot on the webinar now!

To your success!

John Wilson
Property Investment Blueprint

P.S. this is a live webinar ONLY and there will NOT be a replay so make sure you’re there live!

–> Reserve your spot on the webinar now!

P.P.S. you do not have to be in the UK to partner with us, so we welcome our international subscribers on this webinar!

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Manchester Leads UK Property Boom

Manchester Leads UK Property Boom

Manchester Leads UK Property Boom

Increasing property prices are not just a phenomenon belonging to London and the South-East of England, as new data from Nationwide shows that all UK regions are now enjoying increasing property prices as the property boom continues to gather pace.

Every region across the UK saw property prices increase year-on-year, ranging from a 14.9% annual increase in London to a 1.9% uplift in the North.

Nationwide reported that property values increased by an average of 8.4% across the whole of the UK in 2013, as the market revival became increasingly broad-based, but Manchester emerged as the property boom city, with property prices up by 21% over the last year, to reach an average value of £209,627 (GBP).

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Demand May Outstrip Supply As Lenders Brace For Help-To-Buy Stampede

Demand May Outstrip Supply As Lenders Brace For Help-To-Buy Stampede

Demand May Outstrip Supply As Mortgage Lenders Brace For Help-To-Buy Stampede

Over 600,000 residential properties are eligible for the £12 Billion (GBP) scheme, while Zoopla says buyers will still need average £10,000 (GBP) deposit

More than 600,000 residential properties on the market are eligible for inclusion in the £12 Billion (GBP) second phase of the Help-To-Buy scheme, according to the latest in a series of surveys leading to predictions that UK mortgage lenders will be inundated due to the expected demand for the government-backed mortgages.

Details of the 95% mortgages, which are available to existing property owners as well as first-time buyers, are to be unveiled by Chancellor of the Exchequer, George Osborne, with some banks expected to invite loan applications within hours of the announcement expected next week.

The second phase of the Government’s flagship scheme to allow more first-time buyers and second steppers, wider access to the UK’s residential property market has already been brought forward by three months, with high street bank Santander claiming that up to 1.7 million people want to use the scheme.

The Help-To-Buy scheme will cover existing residential properties as well as new-build properties, but as yet there are no plans to allow Buy-To-Let property investors use the scheme.

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Buy-To-Let Property Investors Reap High Rental Rewards

Buy-To-Let Property Investors Reap High Rental Rewards

Activity In UK Buy-to-Let Property Market
Continues To Increase

Activity in the UK Private Rental Sector (PRS) has reached an historic high, with demand continuing to heavily outstrip the supply of available rental properties, according to the latest National Rental Report by Sequence, owners of Barnard Marcus, Fox & Sons and other well known high street property chains.

The Sequence rental index shows that activity in the UK’s private rental sector hit an 11-year high last month, with strong tenant demand driving up rents to a new monthly average of £751 (GBP).

New tenancies being agreed have increased by 6%, when viewed on a monthly basis, and the figures were actually up 18% when viewed annually.

The strong demand for rental property from would-be tenants is helping to fuel a rise in the cost of average rents, with prices up 2% month-on-month and 6% compared to July last year.

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