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UK Rental Prices Have Not Grown As Much As The Media Hype Suggests

UK Rental Prices Have Not Grown As Much As The Media Hype Suggests

UK Rental Price Growth Has Slowed Down
Everywhere Except London

The hype suggesting spiralling rental prices in the UK’s private rental sector (PRS) are out of control, has been previously used by tenants and even some agents to brow beat private sector landlords into lowering the expected monthly rental prices has been exposed as a myth by the Office for National Statistics (ONS).

Apart from the ridiculous rental situation in London, where rental prices for single dwellings are getting beyond affordable, landlords across the rest of the UK are lucky if property rental prices just about keep pace with inflation.

Private rental sector rental prices are flat in monetary terms when viewed year on year even if there has been some seasonal adjustment for the Spring & Summer lettings market.

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Help To Buy Scheme Could Cause New Property Bubble

Help To Buy Scheme Could Cause New Property Bubble

Critics Warn Help To Buy Scheme Will Cause New Property Bubble

The Chancellor of the Exchequer has launched the second phase of the ‘Help to Buy’ scheme and laid out the terms of a programme that will underwrite UK residential property purchases up to the value of £600,000 (GBP) following a meeting with mortgage lenders and house-builders.

A number of groups, however, have warned that, if this scheme is allowed to drive up house prices in the UK, it will cause another property ‘bubble’ and encourage people to take on huge mortgages.

George Osborne is hopeful that the terms of the scheme will prevent another property bubble, as there are now strict income checks and other lending criteria imposed by mortgage lenders and the loan scheme will not be allowed to be used by purchasers to acquire second homes.

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Property Values To Remain Flat In 2013

Residential property values increased by an average of 1.3% in December 2012 but according to the latest figures released by the Halifax, property values are likely to end 2013 at levels close to where they began.

UK Residential Property Values Not Expected To Change In 2013

UK Residential Property Values Not Expected To Change In 2013

The Halifax House Price Index revealed an average residential property price of £163,845 (GBP), up from £161,795 (GBP) in November 2012.

Over the course of the year, residential property values have remained little changed with six monthly rises and six decreases month-on-month.

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