Category: Rental Market
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High Earners Now Need Guarantors Too – The Changing Rental Market
In a surprising shift in the UK’s rental market, even those with substantial incomes are increasingly being asked to provide guarantors when renting properties. Recent data from the rental platform Goodlord highlights a significant change in landlords’ expectations. Surging Guarantor Requests Among Different Income Brackets The Changing Face of Tenancy Guarantor Requirements Oli Sherlock, Goodlord’s…
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London Tenants Pay More than Scotland, Wales, and Northern Regions Combined
In 2023, Londoners experienced a startling surge in their living expenses, particularly in the rental sector. Tenants in London collectively paid a staggering £32.1 billion in rent. This amount surpasses the combined rental costs of residents in Scotland, Wales, the Midlands, and the North East. It’s an eye-opener to the growing financial pressures faced by…
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Rural Renters Hit Hardest by Soaring Costs
Recent research highlights that private sector tenants living in rural parts of England are enduring the most significant rent increases, far outpacing the national average. This alarming trend raises concerns about the affordability and accessibility of housing in these areas. Stark Increase in Rural Rents The study, conducted by the TDS Charitable Foundation, reveals a…
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UK Rental Market Braces for Slowdown as Tenants Can’t Pay More
The UK rental market, which has been exceptionally hot in recent years, is showing signs of a significant cooldown. This shift could bring relief to tenants who have been grappling with steep rent increases, but requires careful planning for landlords The Pace of Rent Increases Slows According to Zoopla’s latest rental report, the growth in…
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Millennials May Rent into Retirement
A recent report from Hamptons estate agency has shed light on a somewhat unsettling trend for millennials in the UK: many of those who haven’t bought a home yet are likely to be renting well into their retirement years. Millennials, currently around 35 years old, form nearly half of Britain’s rental market. This age group,…
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Over a Third of UK Renters Believe Home Ownership is Out of Reach
Key points – In the UK, the dream of owning a home is becoming increasingly elusive for many. Recent research conducted by TSB reveals a startling fact: over one-third of current renters feel that buying a home is an unattainable goal for them. This sentiment reflects a broader trend of challenges faced by renters, especially…
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Skyrocketing Rents Leave UK Tenants Strained
Key points – In the UK, the cost of renting a home is rising at an alarming rate, surpassing even the pace of inflation. For many, this means digging deeper into their pockets to afford their homes. Rents vs Inflation The most recent data from The Deposit Protection Service (DPS) for the third quarter (Q3)…
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Rocketing Rents Across the UK – Latest ONS Data
Key points – The Office for National Statistics (ONS) has released data highlighting a significant surge in rental prices throughout the UK. This comprehensive analysis, the first of its kind, offers an in-depth look into how rents have soared in different regions, painting a concerning picture for renters. Unprecedented Rise in Rental Costs The ONS…
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Monthly Fall, But Year-on-Year Increase for Rents
Recent data from HomeLet reveals that the average monthly rent across the UK has seen an 8.85% increase compared to the end of 2022. This upward trend translates to an average tenant now paying £1,279 per calendar month (pcm), marking a significant £221 monthly increase from the post-Covid rental market rates in December 2021. Regional…
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Scotland’s Private Rental Market Sees 14% Rent Rises
The private rental market in Scotland has recently experienced soaring rent prices across various property sizes. Recent data from Scotland’s chief statistician has highlighted a stark increase in private rents. For instance, two-bedroom homes, the most common in the private rented sector (PRS), saw a 14.3% rise in rents within a year, as of September’s…