Currently viewing the tag: "rental market"
PRS Tenants Could Be Hit With Rent Increases Despite Falling Inflation

PRS Tenants Could Be Hit With Rent Increases Despite Falling Inflation

PRS Tenants Could Be Hit With Rent Increases
Despite Falling Inflation

The increase in demand for rental properties in the UK’s private rental sector (PRS) from would-be tenants could drive local rental prices through the roof in some parts of the country according to a new report published by the Association of Residential Letting Agents (ARLA).

According to data published in the latest ARLA monthly Private Rented Sector report 31% of letting agent members recorded an increase in the cost of monthly rent for rental properties in UK regions between January and February this year.

41% of letting agents in the South East of England reported landlords increasing rental prices for their properties. However, in Wales only 13% of letting agents reported landlords increasing rental asking prices.

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New Data Reveals UK Private Rental Sector Hotspots

New Data Reveals UK Private Rental Sector Hotspots

Private Rental Sector Rents Continue To Rise
In 10 Out Of 12 UK Regions

New data published by HomeLet has revealed some UK private rental sector hotspots for property investors and portfolio landlords to consider.

In some areas of the UK PRS rents have continued to increase, despite all the doom mongering that is going on in the media, with rents increasing by the most in:

  • Leicester – PRS rents up 45% on 2013
  • Southall – PRS rents up 38% on 2013
  • Cambridge – PRS rents up 24% on 2013

Meanwhile other parts of the UK witnessed the biggest falls in rental prices in 2014 on new rental agreements with the biggest rental price falls recorded in:

  • Colchester PRS rents Down 24% on 2013 prices
  • Croydon – PRS rents down 23% on 2013
  • Brighton – PRS fall 18% lower than 2013 prices.

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RLA Hit Back At Rent Control Calls

RLA Hit Back At Rent Control Calls

Rent Controls Are Not The Answer
To The UK Housing Shortage

The Residential Landlords Association (RLA) have hit back at politicians and housing and homeless pressure groups who are openly calling for rent controls in the UK’s private sector by claiming that private sector rents are falling in real terms following analysis of the official English Housing Survey (EHS).

The English Housing Survey (EHS) results are taken from a continuous survey conducted by the Department of Communities and Local Government (CLG) and show that average private sector rents increased by just £10 from £153 to £163 (GBP) per week in 2014, representing a rise of 6.5%.

In contrast, average weekly rents in the UK’s social sector increased by more, with weekly rental prices increasing 25.4%, rising by £18 from £71 to £89 (GBP).

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UK Property Rental Prices Reach New Record High

UK Property Rental Prices Reach New Record High

UK Property Rental Prices Reach New Record High

Latest figures show that the new national average property rental price being advertised has reached a whopping £1,006 (GBP) per calendar month (pcm).

This is the first time ever that the national average property rental price has broken the 4 figure ceiling barrier in the UK.

The increase in the national average property rental price has been attributed to continued growth of the London and South East property markets.

Property rental prices being advertised in central London have reached £2,300 (GBP) per month, the highest recorded rental average apart from during the Olympic’s in the summer of 2012.

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Property Investors Using Bridging Finance To Renovate Properties

Property Investors Using Bridging Finance To Renovate Properties

£640 Million (GBP) Bridging Finance Used By

Property Investors In Just 12 Months

There is a fresh warning being issued to property investors that the current UK financial system is not set up to help them develop or renovate property because mortgage lenders are not prepared to take the risk.

Property investors are finding it virtually impossible to secure a mortgage from mainstream mortgage lenders for a property that requires renovation or refurbishment, especially if the property was previously used for commercial purposes, e.g it was previously an office or a flat and requires alterations to allow the change of use from commercial to residential, or it is a property that does not have an existing bathroom or kitchen.

As has already been reported by Spotlight over recent months, there are promising signs that the UK’s economic recovery is building in strength, thanks to the implementation of the Government’s financial initiatives such as the Funding for Lending scheme, designed to encourage business and the Help-To-Buy scheme, which was launched at the start of the year in an effort to help more first time buyers to get onto the property ladder.

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Rental Property Seen As Safe Investment

Rental Property Seen As Safe Investment

Landlords Increasing Rental
Property Portfolios

There has been a rise in the number of landlords expanding their rental property portfolios over the last three months, according to fresh research by the Association of Residential Letting Agents (ARLA).

ARLA questioned its members to find out if landlords are currently increasing their investment in rental properties in the private rental sector (PRS) and they discovered that the number of landlords buying properties has risen from 30% to 39% over the last three months.

ARLA have taken the responses from their members to indicate greater confidence in the UK private rented sector and that rental property is still perceived as a safe investment amidst ongoing global and national financial instability by landlords with existing rental property portfolios.

ARLA research also revealed that fewer landlords are quitting the UK private rental sector and selling their rental properties too, with numbers incrementally down on the previous quarter, from 15% to 14%.

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UK residential property prices are

expected to continue rising during 2013

 

UK Property Market Confidence Grows As Prices Rise

UK Property Market Confidence Grows As Prices Rise

UK residential property owners are expecting house prices to rise by 4.5% within the next six months, according to new research by the property search portal – Zoopla.

The property portal based its findings on replies from 4,116 people in the last week of March 2013, of whom 3,485 were residential property owners.

This is the biggest predicted UK house price increase by home owners in more than three years, the property search site said.

The proportion of home owners who think that residential property prices will increase this year is also at the highest level for almost three years, with 74% predicting house prices in their area will increase, the most since the second quarter of 2010.

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UK PRS Tenant Demand Increases Again

UK PRS Tenant Demand Increases Again

There was good news for UK property investors and buy-to-let landlords who are looking to expand their rental property portfolios, as it has been reported that the number of new applicants seeking to rent PRS properties in March increased by 21% from the number of applicants seen in February.

Tenant demand continues to outstrip supply as the number of residential properties available to rent only increased by 5%.

According to Sequence, who are part of the Connells group, average rents for March 2013 were £704 (GBP), unchanged from February.

London rents averaged £1,375 (GBP), almost twice the national average.

The number of agreed new tenancies was up 13% on the previous month, and up 19% on 2012, reflecting the strong current rental preferences and tenant demand.

Spareroom.com reported that flat sharers are paying nearly 7% more than they were a year ago, with rent for a double room including bills now averaging £497 (GBP) per month compared with just £465 (GBP) a year ago.

In London, average room rents are £660 (GBP) per month, 20% higher than they were in 2011.

Matt Hutchings, Director of Spareroom said: “The fact that room rents are rising at a rate well above inflation is worrying. The bright side is that at least there is not the added cost of utility bills to factor in. All inclusive is a silver lining in an increasingly bleak rental market.”

Buy to let landlords and property investors are extremely confident about the UK rental market, with high levels of tenant demand, strong rental yields and low void periods.

A survey by specialist mortgage lender Paragon also showed that landlords are more positive about the availability of buy-to-let mortgages, with 32% saying they thought finance was reasonably available.

Paragon said that landlords with small portfolios and new property investors just starting out in buy-to-let are finding it easier to get mortgage finance than professional landlords with large rental property portfolios.

Countrywide’s Quarterly Lettings Index Results

Survey Reveals Favourable Rental Market For UK Landlords

Survey Reveals Favourable Rental Market For UK Landlords

Results from the latest Countrywide Quarterly Lettings Index has revealed a favourable UK lettings market for buy to let landlords.

Countrywide’s Quarterly Lettings Index analyses rental prices, rent arrears and gross rental yields in the UK private rented sector and is the UK’s largest national lettings index based on over 50,000 properties across England, Scotland and Wales and the latest survey has uncovered a number of interesting statistics:

  • Average monthly rents in Inner London are the highest in the UK and four times more than in Scotland
  • Scotland has the cheapest rental accommodation in the UK and is the only region where arrears have increased
  • Average monthly rents increased the most in Wales and the East of England at 5.5%, followed by Outer London at 5.4%
  • Average UK rental yields of 6.2%, with Wales topping list at 6.7%
  • Rising rents, falling arrears and fast letting times provide perfect recipe for buy-to-let investors
  • Average rents have risen and rental payment arrears have fallen in Q1 2013 compared to the prior year.

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…that’s an average of £1000 per property per month  

Peter being interviewed by Rob Moore - the creator of this new strategy

Peter being interviewed by Rob Moore – the creator of this new strategy

 …and it was all done without using a single mortgage. 

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  • You are NOT getting the cashflow you want from your property investment portfolio
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…do any of those sound familiar? 

Multi Let Without The Sweat!

Multi Let Without The Sweat!

It’s no surprise. These common sticking points held back new property investors like Peter, until this strategy was explained to him.

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A Multi Let Property Investment Strategy That Works!

A Multi Let Property Investment Strategy That Works!

 

 

 

 

 

 

 

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There Will Never Be A Better Time To Invest In Property

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