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 […]
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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RLA Think Tenant Sub-letting Will Be Catastrophic For Landlords
Following on from last week’s pre-election budget delivered by Chancellor of the Exchequer, George Osborne MP, landlord organisations and their landlord members are expressing grave concerns over the Government’s plans to allow private rented sector tenants to begin sub letting their rental properties.
The
Following on from last week’s pre-election budget delivered by Chancellor of the Exchequer, George Osborne MP, landlord organisations and their landlord members are expressing grave concerns over the Government’s plans to allow private rented sector tenants to begin sub letting their rental properties. The Budget document published after Mr Osborne delivered his speech contains a clause about sub letting on page 51, under the title “support for the sharing economy”. Continue reading »
RLA Think Tenant Sub-letting Will Be Catastrophic For Landlords
Property Optimism Falls To Lowest Level For 18 Months
UK property price optimism among private rental sector landlords and residential property owners has dropped to the lowest recorded level for 18 months after buy to let mortgage lending in January was reported to be decidedly sluggish.
Traditionally, the UK property market generally experiences a slow […]
Property Optimism Falls To Lowest Level For 18 Months
Property Optimism Falls To Lowest Level For 18 Months
UK property price optimism among private rental sector landlords and residential property owners has dropped to the lowest recorded level for 18 months after buy to let mortgage lending in January was reported to be decidedly sluggish.
Traditionally, the UK property market generally experiences a slow start that incrementally builds to a summer buying frenzy before reaching another plateau and then a further period of increase followed by a gradual easing at the end of the year.
The latest Halifax House Price Index (HPI) found that UK property prices increased by just 2% in January 2015, reaching a new UK average property price of £193,130 (GBP).
Combined with figures released by the Department of Communities and Local Government, showing a slowdown in the number of new homes being built, and it is clear why landlord and residential property owners optimism has fallen.
60% of landlords and property owners, surveyed for the lender’s latest housing market confidence tracker report, expected the average property price to be significantly higher in 12 month’s time.
This means that house price optimism has fallen by 10 points from 62 to +52, the lowest level of consumer confidence since June 2013, when 52% of private rental sector landlords and residential property owners expected a large rise in property prices.
So what’s different?
- In June 2013 UK inflation was at 2.9% compared to the current 0.3%
- Employment was just over 30 Million compared to today’s figure of 30.9 Million
- Mortgage lending levels were at £15 Billion (GBP) compared to the current £17 Billion (GBP).
Despite the fact that the UK’s Gross Domestic Product (GDP) for 2014 increased by 2.6% and all members of the Bank of England’s (BoE) Monetary Policy Committee (MPC) voted to hold interest rates at 0.5%, the dip in confidence levels over UK property prices reflects public concern over the UK economy in general.
Craig McKinlay, mortgages director at the Halifax said that “More than half of consumers still believe UK property prices will be higher than they are now in a year’s time; however optimism has continued to weaken. Despite this we’re now seeing a return to the seasonal trend for house price activity”.
But he pointed out that of more concern are the figures from the Department of Communities and Local Government showing a slowdown in the number of new homes being built. ‘It’s widely acknowledged that the UK needs an increase in the amount of new housing being built,’ said McKinlay.
‘The Lloyds Banking Group Commission on Housing targeted 2 to 2.5 million new homes built by 2025 new homes to be built before 2025. If we are to address demand the increase in new homes coming onto the market needs to be sustainable,’ he explained.
Property Investors Warned To Choose Potential
Property Purchases Wisely
Savvy property investors know that profit is made when buying property, not when it is sold, as equity can be locked in upon purchasing below market value, giving the property investor greater control of the purchase price by negotiating a deal with the seller, (vendor), […]
Property Investors Should choose Investment Properties Wisely
Property Investors Warned To Choose Potential
Property Purchases Wisely
Savvy property investors know that profit is made when buying property, not when it is sold, as equity can be locked in upon purchasing below market value, giving the property investor greater control of the purchase price by negotiating a deal with the seller, (vendor), rather than what the property eventually sells for on the open market.
Property investors are different from ordinary residential property buyers, as they are of the mindset that the property should meet all the financial requirements of a landlord first & foremost, rather than paying the high end retail price for a property just because it looks nice.
Many new and amateur property investors make the common mistake of falling in love with a property and begin to let their heart rule their head, becoming so emotionally involved that they lose control of their finances and let their emotions win, overspending massively and reducing any potential yield.
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Private Sector Rents Rise By 1% Over Last 12 Months
New data published by the Office for National Statistics (ONS) suggest that private sector rents are rising below the level of average earnings for first time in many years, bringing some good news for tenants.
According to the ONS, in the 12 months to September […]
UK Private Sector Rent Still Rising, Albeit Slowly
Private Sector Rents Rise By 1% Over Last 12 Months
New data published by the Office for National Statistics (ONS) suggest that private sector rents are rising below the level of average earnings for first time in many years, bringing some good news for tenants.
According to the ONS, in the 12 months to September 2014, private rental sector rental prices increased by:
- 1% in England
- 4% in Scotland
- 2% in Wales
The ONS say that the UK’s underlying annual earnings growth increased by 1.2% in the year to August, up from 0.5% recorded in April 2014.
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New Buy-To-Let Guide Book Is Recommended Reading For May
We have a great guide book on Buy-To-Let as recommended reading for this month, and it is perfectly timed, because making a substantial additional income from buy-to-let property is HUGELY popular right now.
If you ever wondered how and why so many people from all income […]
The 3 Simple Steps To Buy To Let Success Guide Book
New Buy-To-Let Guide Book Is
Recommended Reading For May
We have a great guide book on Buy-To-Let as recommended reading for this month, and it is perfectly timed, because making a substantial additional income from buy-to-let property is HUGELY popular right now.
If you ever wondered how and why so many people from all income brackets are taking action and cashing in on the booming property market and earning additional income streams from ‘generation rent’, then this guide book really will give you a very unfair advantage.
In fact, despite the introduction of additional mortgage affordability checks, with property prices still rising, it is still easier to profit from property than it was before the market crash back in 2007/8
And first-time property investors as young as 22 are making additional profit from property ahead of their parents earned income simply by following the ‘3 simple steps’ shown in the Buy-To-Let Guide Book:
Available FREE for a very limited time only!
The guide is published by one of the UK’s leading Property Investment Educators – Progressive Property – who have 4 Amazon UK best-sellers under their belt, written by the same controversial and successful on the frontline down in the trenches, buy-to-let property investors:
The 3 Simple Steps To Buy To Let Success Guide Book (no postage to pay)
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Experimental Statistical Data Released For January To March 2014 For Rental Prices Paid By Tenants In UK Private Rental Sector
The office for National Statistics (ONS) have released experimental statistical data covering the change in rental prices paid by tenants in the UK’s private rental sector (PRS).
Private rental prices paid by tenants in the […]
UK Index of Private Housing Rental Prices
Experimental Statistical Data Released For January To March 2014 For Rental Prices Paid By Tenants In UK Private Rental Sector
The office for National Statistics (ONS) have released experimental statistical data covering the change in rental prices paid by tenants in the UK’s private rental sector (PRS).
Private rental prices paid by tenants in the UK increased 1.0% in the 12 months to March 2014, unchanged from a 1.0% increase in the 12 months to February 2014.
- In the 12 months to March 2014 rental prices in the private rental sector increased by:
- 1.0% in England
- 1.3% in Scotland
- 0.6% in Wales
- Rental prices increased in all UK regions over the year to March 2014, with rental prices increasing by the most in London reaching 1.4%
The Index of Private Housing Rental Prices (IPHRP) measures the change in price of renting property in the UK’s private rented sector and is published as a series of price indices covering UK regions.
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Selective Licensing Of PRS Landlords Set For Liverpool
Liverpool City council are currently researching proposals to implement a city-wide selective licensing scheme on private rented sector (PRS) landlords and are seeking input and feedback from local landlords prior to taking the proposal further.
Licensing consultation responses are being collected by Liverpool city council as the […]
Selective Licensing Of PRS Landlords Set For Liverpool
Selective Licensing Of PRS Landlords Set For Liverpool
Liverpool City council are currently researching proposals to implement a city-wide selective licensing scheme on private rented sector (PRS) landlords and are seeking input and feedback from local landlords prior to taking the proposal further.
Licensing consultation responses are being collected by Liverpool city council as the consultation opened on 24th March 2014 and is expected to close on 16th June 2014.
The local authority insist that the licensing of all private rental sector landlords in the city will help improve the overall standard of accommodation in the borough’s private rented sector (PRS) and will also help to tackle low demand.
The city council’s consultation documents reference anti-social behaviour (ASB), but do not position anti-social behaviour as a primary reason for the scheme.
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One Million More Rented Households In UK
Since 2009 With More To Come
It has been well documented over recent years that there has been a cultural and generational shift towards renting in the UK with “Generation Rent” emerging as the dominant force in the UK property market.
The shift towards the continental style […]
UK PRS Expanded By 1 Million Households In 5 Years
One Million More Rented Households In UK
Since 2009 With More To Come
It has been well documented over recent years that there has been a cultural and generational shift towards renting in the UK with “Generation Rent” emerging as the dominant force in the UK property market.
The shift towards the continental style of living in rented property has been largely influenced by the difficulty for people to raise the necessary deposit and finance for property ownership.
CBRE believe that significant activity by UK Buy-to-Let property investors and foreign nationals acquiring property in major towns and cities within the UK has also contributed significantly, and the influence of these interested parties is still growing.
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Local Housing Allowance (LHA) Rates Change In April
Every year the Government publish Local Housing Allowance (LHA) rates that are periodically reviewed and payment levels in some UK regions may change without notice.
The April 2014 – March 2015 LHA rates have now been published and the revised list makes interesting reading for landlords and […]
New LHA Rates for 2014 -2015 Published
Local Housing Allowance (LHA) Rates Change In April
Every year the Government publish Local Housing Allowance (LHA) rates that are periodically reviewed and payment levels in some UK regions may change without notice.
The April 2014 – March 2015 LHA rates have now been published and the revised list makes interesting reading for landlords and letting agents who are willing to accept tenants claiming benefits.
UK private rental sector landlords are able to ensure rental property profits by allowing their properties to be let to tenants claiming housing benefit (HB), with local authority rental payments exceeding buy-to-let mortgage payments.
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There Will Never Be A Better Time To Invest In Property
