Category: Rental Market
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UK Rent Rises Slowing – Zoopla
In the last twelve months, renters have seen their monthly payments swell by 7.8%, pushing the average rent to £1,223. This figure, courtesy of property portal Zoopla, signals a shift in the rental market’s dynamics. Interestingly, this upward trend is expected to lose some steam, with projections indicating a more modest 5% rise in rents…
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ONS Price Index of Private Rents (PIPR) – March 2024
The ONS published their new monthly index, the Price Index of Private Rents (PIPR) for March 2024. Here’s our summary. Overall, renters are facing a significant challenge as private rental prices continue to climb. The provisional estimate has unveiled a 9.0% increase in average UK private rents over the 12 months leading up to February 2024.…
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Sky-High Rents – Over Half of UK’s Rentals Now Costing £1,000 a Month
A recent study has shown that the cost of renting a home in the UK is soaring, with more than half of all rental homes now commanding prices above the £1,000 per month mark. This situation underscores a growing problem in the housing market, where the demand from tenants far outstrips the supply of affordable…
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Rent Hike Hits the Brakes but Tenants Still Pinched
The pace at which rents are rising has finally started to slow down, yet tenants across Great Britain are continuing to feel the financial pressure, with significant increases still a reality. This is according to the latest insights from Hamptons. The latest data indicates a slight deceleration in the rate at which rents are increasing.…
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Rental Crisis – Privately Rented Homes Dwindle
A new report suggests the supply of privately rented homes has slumped to its lowest point in ten years. This decline comes amid concerns that recent government budgets have overlooked urgent housing needs, focusing instead on measures aimed at bolstering the homebuying sector. Zero Deposit’s analysis of government data illustrates a troubling trend affecting England’s…
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Rent Rises Defy Seasonal Expectations, Alongside Fewer Voids
February saw a significant rise in rental costs across England, alongside a marked decrease in the time properties spend empty, flying in the face of the customary post-Christmas slowdown. According to the latest Rental Index from Goodlord, the average rent across England saw a 1% increase from January, bringing the monthly cost to £1,162 per…
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Rents – East Midlands Braces for the Biggest Leap by 2030
According to property firm Zero Deposit, residents of the East Midlands are facing a daunting forecast: the cost of renting a home in the region is set to soar at an unprecedented rate. With predictions outpacing every other region in the UK, the climb in rents is a looming concern for many. By the end…
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Rent Rises – Will They Continue?
Over on the PropertyWire website, Alison Thompson, a leading expert in national lettings from the Leaders Romans Group, sheds light on the trends and predictions that could shape the future of renting in the UK. For decades, rent increases in the UK moved predictably alongside wage growth, usually keeping pace with inflation at a steady…
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ONS Private Rental Prices – January 2024
The ONS published their monthly index of Private Rental Prices for January 2024. Here’s our summary. The beginning of 2024 has seen a significant spike in private rental prices, affecting tenants from England to Scotland, and Wales to Northern Ireland. As of January 2024, the UK has witnessed a substantial 6.2% rise in private rental…
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Skyrocketing Demand for Rentals Leaves Tenants in a Lurch
The UK’s private rental market is witnessing a significant rise in demand, with landlords reporting a noticeable increase in tenant interest. This trend underscores a growing challenge in the housing sector, spotlighting the dire need for more rental accommodation amidst rising pressures from various societal shifts. The Surging Demand for Rentals Recent research spearheaded by…