Generation Rent
-
Housing Market
Will property sales ever bounce back?
The attitude towards house buying is changing and millennials are at the forefront of shaping that change. Gone are the days of staying at your mum and dad’s house, cramped in your teenage bedroom whilst you try and save up for that all important deposit for your first home. More and more millennials are now choosing to rent rather than buy, with thanks to crippling student loan debts and the after effects of the Great Recession being the major catalysts in the change in attitude. ATTITUDES OF THE MILLENNIALS Two major issues that affect millennials today are contributors to the change in attitude. For many, they simply choose to rent rather than buy, mainly due to the era of ‘nownership’ becoming very popular in recent years. ‘Nownership’ is a term used to describe the favouritism of experiences over ownership of goods or property. More and more people are valuing a fulfilled life of experiences, social events and creating memories over getting on the property ladder. The trend of ‘nownership’ is filtering into other markets too. The market for renting clothing and accessories is growing and as a result one in five people in the UK are interested in renting items…
Read More » -
Latest property news
Millennials reshape the UK housing sector
As the UK’s millennials approach their prime spending years, the impact of their priorities is being seen across the economy.
Read More » -
Latest property news
Transforming Generation Rent to Generation Buy
Housing Minister says new Housing & Planning Act will ‘unlock the door to homeownership.
Read More » -
Latest property news
#VentYourRent campaign builds
Vent your rent: How bad is your home? Very bad, according to tenants contributing to a social media campaign launched by Generation Rent.
Read More » -
Latest property news
The UK Apartment Association (UKAA) launches
Homes that were designed and built specifically for the rental market used, generally, to be called council houses. Not any more, councils gave way to housing associations who do indeed still build properties specifically for the rental market but the new Build to Rent sector has a broader remit – homes designed for Generation Rent – and for the future. Now, the first cross-industry organisation dedicated to driving the professionalisation of the sector has been launched. The UK Apartment Association (UKAA) will focus on driving up standards of customer service and delivery to ensure that all renters are given the best possible experience. Its creation has been championed by Housing Minister Brandon Lewis, who is calling on the industry to work together to deliver more homes for rent and better standards for residents. The UKAA says that its aim is to differentiate the multi-family housing market from the amateur ad hoc rental service provided by small-scale landlords that currently make up the bulk of rentals. This is bad news in the longterm for traditional private landlords but it has to good news for tenants, especially those, says UKAA, who are making a lifestyle choice by choosing high quality, branded purpose…
Read More » -
Housing Market
Jeremy Leaf
Rolling the dice. The Chancellor, George Osborne, is gambling with the property market – says Jeremy Leaf.
Read More » -
Housing Market
Boomtime for buy-to-let
Investor landlords expanding portfolios, new pension rules encouraging silver landlords, it’s all going well for BTL, says Marc Da Silva.
Read More » -
Housing Market
This is Generation Rent
Almost half of UK renters believe that they will never be in a position to buy their own home and that may be because so much of their income is now going towards paying rent, research shows. According to an independent survey for construction and regeneration company Keepmoat, 44 per cent of renters in the UK believe they will never own their own property with not being able to afford a deposit the most common reason for not getting on the property ladder. Dave Sheridan, Chief Executive of Keepmoat, said, “It’s clear that the amount of money first-time buyers need to raise for a deposit continues to stop many from getting on the property ladder.” High rents in relation to earnings may have a lot to do with the fact that many people now feel unable to save enough money for a deposit to buy a property. Rents in England, for instance, now stand at 47 per cent tenants’ average take-home pay, data from the latest English Housing Survey shows. In contrast, those who have secured a mortgage face repayments equal to 23 per cent, on average, of their earnings after tax. The comprehensive report also revealed that once housing…
Read More » -
Features
What’s next for the rental market in 2015?
Marc Da Silva gathers industry opinion on some of the trends that we can expect to see in the rentals market during the course of 2015.
Read More »
