renters

  • Guest Blogs
    Guest Blogs

    The rental market must evolve with renters’ lifestyles

    We are fast becoming a nation of renters. New figures show that almost half of all babies born today are starting their lives in rented accommodation...

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  • Latest property news
    Latest property news

    Eleven million households ‘stuck’ outside or on property ladder, claims lobbying group

    Over 11 million households in the UK cannot progress either into home ownership or up the property ladder for a variety of reasons, according to lobbying group Home Owners Alliance. Its latest research among 2,000 adults suggests that 7.5 million renters are stuck at the start of the property ladder while three million potential second-steppers can’t move and a million retirees can’t downsize. The organisation claims this proves the housing market is “broken at every level”. This is down to higher Stamp Duty, high house prices and a lack of properties available to buy. The detail of the research reveals that 74% of those who rent want to own a home but can’t because either properties are too expensive, they are struggling to save a deposit or can’t get an affordable mortgage. Second steppers Also, second steppers are struggling to move up the property ladder because bigger homes are too expensive and the Stamp Duty bill too high, while retirees can’t find suitable properties to buy that offer the ideal size and amenities they want. Home Owners Alliance’s figures highlight the huge opportunity for the government and the property industry if only homes could be made more affordable, one that…

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  • Latest property news
    Latest property news

    John Lewis signs landmark deal with rental proptech firm Canopy

    Tenants among retailer's 85,000 staff will be offered a comprehensive renting solution including properties supplied by a major agency group linked to deposit-free scheme and rent reporting, helping bypass the portals.

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  • Associations & BodiesShelter Cymru logo
    Associations & Bodies

    Shelter bashes PRS again

    Housing charity Shelter Cymru is calling for an end to excessive letting agency fees, as more than a third of renters in Wales face charges of more than £200. The charity is launching an online survey for tenants who are in the private rented sector to share their experiences of the prices and hidden costs they have been charged. Current figures show more a quarter of renters in Wales who have used a letting agency have been charged what the charity calls ‘excessive fees.’ It is also says that in some cases tenants have been charged as much as one month’s rent, as well as paying for the bond and rent in advance. Letting agents argue these charges are in place to cover business and administration costs. However Shelter Cymru say they should be paid by the businesses themselves or by the landlords who are making a profit. “These letting agents fees are so unfair on tenants and are causing serious financial hardship when they have to find hundreds of pounds to cover the cost of moving. This makes renting impossible for some people, and finding good quality accommodation in the private rented sector well out of their reach. It’s…

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  • Housing Marketrent increase image
    Housing Market

    Average rents continuing to grow

    The average rent achieved for a newly let residential property in the UK rose in September by 3.6 per cent year-on-year to £941 per month, the latest figures from Countrywide reveals. The research found that rents continued their growth over the year, with prices supported by falling numbers of homes available to rent and sustained demand from tenants. The study also shows that the gap between the areas where many people can afford to rent and where they can afford to acquire property has continued to widen, owed largely to the fact that house price growth has outstripped rents across most parts of the country in recent years. As a result, more than half of tenants – 51 per cent – who purchase a property do so outside the town or city where they were renting, compared to 38 per cent in 2008. This trend is most evident in London where a third of renters – 36 per cent – who take their first steps on the housing ladder end up living outside the M25, up from a fifth – 21 per cent – in 2008, reflecting a surge in property prices over the past seven years. Johnny Morris (right),…

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  • Housing MarketTo Let board image
    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…

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