rental index
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Latest property news
Rents spike and voids plunge in June as PRS market heats up
The cost of rent rose in seven of the eight regions with the average cost of rent per property in England now £1,148 – up from £1,111 in May – a 3.3% increase.
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Latest property news
Latest rental index reveals some shocking figures
While mostly positive, a quarterly rental index from The Deposit Protection Service shows a staggering quarterly drop in rental values in Southampton.
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Latest property news
Rent rises are beginning to run out of steam, says leading index
HomeLet's latest index reveals that monthly rent increases have slowed to just 0.1% in May, but the UK average remains at an all time-high.
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Latest property news
Rental trends revealed in Belvoir’s regional report
Belvoir has published its latest rental trends report which reveals a north-south divide during the final quarter of 2020.
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Latest property news
Hong Kong remains most expensive city to rent with London in 4th place
Knight Frank's comparison of global rental prices reveals Hong Kong is still the most expensive city to rent a prime property, as London comes in fourth.
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Latest property news
Number of managed rental properties drops by 8% during January
The government’s tax-take on landlords is having the effect many predicted it would as the Association of Residential Letting Agents (ARLA) reports an 8% reduction in the number of rental properties managed by agents during January. ARLA says its member agents reported 184 rental properties managed per branch compared to 200 during December, the lowest figures for four months. Such an alarming contraction in the market during a traditionally busy period is also taking its toll on tenants’ finances, ARLA says. As the housing market forces more people into rented accommodation rather than ownership, ARLA says the number of tenants registered with agents increased from 59 to 70 per branch. Rough ride ARLA’s Chief Executive David Cox (pictured, below) says renters are in for a “rough ride” this year as the imbalance between supply and demand begins to push up rents. It’s already begun, ARLA claims, revealing that nearly a fifth of tenants experienced rent increases during January, up from 16% during December. The ARLA figures are backed up the latest rental index, which found that rents in the UK are rising across every region for the first time in two years. Buy-to-let lender Landbay, which produced the index, also…
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Latest property news
Landlord exodus revealed as stock of London rental properties drops by 21%
The stock of rental properties within the private sector dropped last year by 4% across the UK and by 21% in London, helping push the average rent for a property to £960 a month, and without London to £768, it has been revealed. The East of England also saw a double digit (-15%) reduction in the number of rental homes. Five other areas also witnessed a shrinking stock of rental properties includes Scotland, the SW, Yorkshire and the Humber, East Midlands and the NW. But stocks in four rental markets are still expanding including Wales (+13%), the West Midlands (+12%) the NE (+6%) and the SE (+5%). Countrywide’s monthly rental index reveals that the ratio of homes bought by landlords during 2017 as a percentage of the total market dropped to 12.5%, a nine year low, and lower than during 2016 (14.7%) and 2015 (16.3%). Increasing rents This reduction in the stock of privately rented homes, set against a trend of increasing numbers of tenants, is helping push up rents, Countrywide says. Rental increases have jumped by a third from 1.8% in 2016 to 2.4% during 2017. The figures also reveal that forty-six per cent of landlords increased the rent…
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Latest property news
Are govt’s landlord tax chickens coming home to roost?
When agents warned the government that its anti-landlord tax measures would lead to higher rents, they were dismissed as scaremongers. But Countrywide’s latest rental index shows that the predictions weren’t far off the mark in London, the South and Scotland. Rents in London were higher by 2.1% in July compared the last year driven by an 18% drop in properties available to rent, and the number of properties coming on to the market from landlords in the South has halved since 2015, helping drive the national average rental increase up from 1.1% to 2.2%. And the rate at which new rental properties are coming on to the market is slowing across some parts of the UK; down 18% in London, -6% in the East of England and -5% in the South. North vs South But other parts of the UK are seeing a dramatic increase in the number of rental properties coming on to the market, including in Yorkshire & Humberside (+37%), Wales (+22%) and the North West (+21%) suggesting that landlords are shifting their investment focus away from London and the South. The research may be good news for first time buyers. In London the proportion of homes being bought…
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Housing Market
Rental market inflation slows
Rents agreed in September were 3 per cent higher than a year ago, New data from the September HomeLet Rental Index reveals, but the pace at which rents are rising is continuing to slow, as landlords strive to ensure that tenancies remain affordable.
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