Category: Rental Market
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Watchdog Investigates UK Rental Market
The Competition and Markets Authority (CMA), the UK’s competition watchdog, has expressed concerns about the housing market, stating that a “significant minority” of landlords and letting agents may not be complying with consumer protection rules. The CMA has highlighted several areas of concern, including onerous guarantees, discrimination against certain tenants, and fees charged to older…
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Increase in Homes to Rent
The UK rental market is experiencing a shift as more homes are being offered for rent rather than for sale. This trend is driven by homeowners who are unable to sell their properties at their desired prices. Over the past two years, rental prices have increased by almost 10%, creating a situation where the demand…
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Rental Demand Grows Fastest in London and East Midlands
A recent study conducted by Paragon Bank has revealed that both outer London and the East Midlands are experiencing a surge in tenant demand. In outer London, 91% of landlords reported an increase in tenant demand, with 67% describing the growth as significant. Similarly, in the East Midlands, 86% of landlords noted a rise in…
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High Demand for Rental Homes in Scotland
In July, Scotland’s biggest letting agency, DJ Alexander Ltd, received a record 39,400 viewing requests for rental properties in Edinburgh and Glasgow. This is the highest demand they’ve seen in their 41 years of operation. Why is this a concern? What does the expert say? What can be done? Conclusion:
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ONS – Rents Rose 5.3% in June
The ONS released its Index of Private Housing Rental Prices for June 2023 an it showed that rents had risen by over 5% in the last 12 months. On Twitter, Aimee North, Head of Housing Market Indices at the ONS, commented, “There was another record annual increase for UK rents in the latest month. London…
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Rents Rising Sharply – RICS
RICS has released its monthly survey of letting agents, to gauge the state of the Private Rented Sector (PRS). RICS Findings How Do We Know This? Experts’ Take on the Situation Interesting Numbers to Note Why is the Demand So High? How Competitive is the Market? Harriet Scanlan provides a real-world example: Her estate agency…
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London’s Shrinking Rental Market
The London School of Economics and Savill’s have produced a report into the market in London for rented property. They conclude that the London rental market is seeing a significant reduction in the number of properties available. Here’s a breakdown of what’s happening: In Simple Terms: London is facing a housing crunch. Fewer properties are…
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Rents Rise in Every Region
Homelet has released their UK Rental Index for July. The key takeaways are: If you’re an investor, you should be aware that renting costs are rising throughout the UK. Some areas are experiencing larger increases than others, with London maintaining its reputation for high rental prices. However, this situation isn’t ideal for tenants or landlords,…
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Record-Breaking Rent Rise
The latest Goodlord Rental Index reports that rents in England have reached a record high of £1,367 per property in July 2023, due to high demand, low supply and student lets. It also shows that voids have dropped to a record low of nine days, indicating a very tight rental market. 1. Rents at an…
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Rents Continue To Rise
The Daily Mail reports that average rents in the UK have reached record highs due to high demand and low supply, and landlords are facing various challenges from the government, taxation and compliance Renting Prices Reach Record Highs 1. Rising Costs: 2. The Increases Since the Pandemic: Why Are Rents Rising? 1. High Demand and…