Category: Rental Market
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Rental Growth Is Slowing
The United Kingdom’s regional rental markets are undergoing various shifts. While growth has been seen in past years, there’s evidence of a slowdown, driven by a variety of factors. Recent reports and industry indices highlight the early signs of declining rental growth. The Declining Pace of Property Rental Growth According to the latest Prime Lettings…
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English Housing is Most Expensive in the Developed World
The Home Builders Federation (HBF), a significant voice for private housebuilders, recently unveiled some concerning figures. They suggest that when it comes to vacant homes per person, England trails behind every other country in the Organisation for Economic Co-operation and Development (OECD). This international body comprises 38 countries, including EU nations, the US, Japan, and…
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Bristol Rents Inflate by 41%
Based on a study carried out by Zero Deposit, a financial service firm, Bristol residents have experienced a drastic increase in rent prices since 2018. Today, they are paying a staggering 41% more compared to five years ago. The research focused on rent changes throughout England and discovered that the cost of renting in Bristol…
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Historic Surge in Rent Prices
Rents in Great Britain have surged to unprecedented levels, recording a significant increase of 10% over the past 12 months. This has been largely attributed to a cocktail of supply shortages combined with rising mortgage rates. Let’s break down the numbers: Why Are Rent Prices Skyrocketing? One of the chief culprits behind this sharp incline…
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Zoopla Reports Rents Rising by 10%
According to Zoopla’s latest report, the average rent for a new tenancy has surged by a staggering 10.3% over the past year. When translated into monthly figures, renters are now shelling out an average of £1,164. That’s an annual increase of £1,320 compared to September 2022 figures. The Supply-Demand Equation The primary catalyst for this…
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State of The Rental Market, September 2023
Despite a month of relative stability, the dynamics of the property rental markets has seen some remarkable shifts, particularly in London and the South East of England where rental costs reached all-time highs in September 2023. At the same time, despite the overall steadiness, a drop in average salaries of tenants has been observed. Stabilised…
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UK’s Rental Hotspots: Why the South Coast is Soaring
When we talk about the rental market, we often think of the bustling streets of London. However, recent data paints a very different picture, one where the south coast and other regions are seeing an impressive surge in demand. Let’s dive in to see what’s happening. The South Coast Steals the Spotlight Regions on the…
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BoE Says Landlords Leaving is Causing Rent Rises
The Bank of England recently released a detailed quarterly report that covers economic activities from July to August. This report, known as the Agents’ Summary of Business Conditions, sheds light on trading conditions across multiple sectors, including housing. It’s an important document, compiled through the collaborative efforts of the bank’s 12 regional representatives. These insights…
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UK Private Rental Market: Govt Stats August 2023
The Office for National Statistics released their figures for the UK private rental market for August 2023. In recent data, the prices paid by tenants in the UK for private rentals have experienced a significant rise. Specifically: UK Private Rental Prices: A Closer Look Since January 2016, when this data series began, the August 2023…
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UK’s Spiralling Rents Continue
August saw residential rents skyrocketing by an average of 12% across the UK. Estate agent Hamptons, a renowned name in the property market, has identified this as the most significant annual increase since they began collating this data in 2014. London’s Skyrocketing Rental Market Londoners felt the brunt of this escalation even more acutely. Rents…