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Green Party Leader Blames Landlords For UK Housing Crisis

Green Party Leader Blames Landlords For UK Housing Crisis

Green Party Leader Under Attack For Demonising
Private Rented Sector Landlords

The leader of the Green Party, Natalie Bennett has attracted a great deal of criticism after she attacked buy-to-let landlords operating in the private rented sector (PRS) blaming them for helping to cause the UK’s housing crisis.

Ms Bennett cited extremely high rental returns for landlords with property in the UK private rental sector in the recent television debate between the opposition leaders.

She referred to a report published by the Wriglesworth Consultancy and lenders Landbay stating that there had been a 1,400% return for buy-to-let landlords since 1996.

But the report’s authors suggested that the calculations and methodology involved were far more complex than the Green Party leader had portrayed.

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One In Four Tenants Choose Rental Property After Just One Viewing

One In Four Tenants Choose Rental Property After Just One Viewing

One In Four Tenants Choose Rental Property After Just One Viewing

A new survey conducted by a leading UK finance company has discovered that over 25% of tenants decided on their rental property home after just a single viewing.

Less than half of the people polled said they viewed their property twice before deciding on it.

33% of tenants who agreed to be surveyed revealed that they spent less than 30 minutes in the rental property before they decided to rent it.

Ian Williams from Ocean Finance stated: “Maybe after waiting several years for the financial crisis to end and the housing market to take off again, most people know exactly what they are looking for. But it’s quite shocking that so many people spend less time on choosing their new home than they would watching EastEnders or Coronation Street.” 

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More and more young adults are still living with their parents, unable to afford to rent or buy property of their own according to the Office for National Statistics.

Last year, the ONS say nearly three million adults aged from 20-34 were living with their parents, an increase of 20%, since 1997, that’s an increase of almost half a million people!

The rise comes despite the fact that the number of people within this age group has barely changed.

Altogether, 64% of men, almost two in three, aged between 20-34,  now lives with his parents, and so do 46% or nearly half of all women in the same age bracket

However, by age 34 there is a rapid change of circumstances, with only 7% of men and 2% of women still living with their parents.

David Orr, National Housing Federation chief executive, blamed the rise on the lack of affordable homes, saying: “The options are severely limited and out of reach for many young people. Much more needs to be done to tackle this country’s dire housing crisis.”

The average age of the UK first-time buyer is now 30, according to research from Clydesdale and Yorkshire banks, but varies considerably across the UK: for example, 28 in Yorkshire, but 36 in Wales and 33 in London.

According to LSL’s latest index, the average monthly rent across England and Wales is now £709 – 2.4% higher than in 2011.

the number of empty UK properties still increasing

The Number of UK Empty Properties Continues To Rise

Despite campaigns from all quarters of the media and industry bodies, the number of empty homes in the UK increased significantly in 2011, new research has shown.

Data from the Communities and Local Government department, (CLG),the Office for National Statistics, (ONS), and Halifax’s own housing statistics database, the study revealed a 1.8% rise in empty residential dwellings.

According to the Halifax Empty Homes survey, which takes into account all private and public empty residential abodes, including those that have been vacant for under six months – leapt from the 650,127 recorded in April 2010 to 662,105 for the same period earlier this year.

Despite this trend, the study also revealed some more positive movement, with the amount of long-term empty private homes, those that have been without occupants for at least 6 months, dropping to the lowest levels since 2008.

These properties account for 44% of all empty residences, underlining the significance of the improvement.

It was shown that April 2011 that there were 292,313 examples of this kind of home, which represented a 1.1% decline on the 295,519 reported in the same four-week period 12 months earlier.

Stephen Noakes, Mortgage Director at Halifax,(a division of Bank of Scotland), said: “The findings show the considerable impact empty properties can have on the overall housing market, claiming it is therefore necessary for action to be taken to address the issue. Long-term empty homes account for about 1.6% of all private homes in England. And at a time when first-time buyers are still facing numerous obstacles to getting on the ladder, it is imperative we look further at the issue as an industry.”

The issue of empty homes that are fit for purpose remains a particular problem in a number of areas across the UK, where the proportion of void occupancy is double the national average. Even the UK’s Private Rented Sector is not unaffected. Landlords with properties requiring substantial improvements are lying empty due to the current lack of available finance.

UK property owners and landlords are reminded that they should have appropriate <a href=”http://www.legal4landlords.com/insurance-services/”>insurance</a>, in order to protect their property assets. However, that insurance may still be invalid if the property is unoccupied for a lengthy period of time (see the small print) and specialist insurance may be required.

<a href=”http://www.legal4landlords.com/”>Legal 4 Landlords</a> offer <a href=”http://www.legal4landlords.com/insurance-services/”>Un occupied BTL</a> insurance for Buy To Let Landlords with empty properties.

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