Newly Proposed Renter’s Reform Bill Expected to Lead to Rent Increases, Survey Finds
In response to the Renter’s Reform Bill, which aims to limit landlords’ ability to refuse tenants’ pets, a survey conducted by Mortgages for Business has revealed that three-quarters of landlords are planning to raise rents. The bill has generated concerns among landlords, who foresee increased costs associated with potential pet damage and a decrease in […]
Scrapping mortgage tax relief hike would ease rental supply crisis
Scrapping the recent tax hike on private rental sector landlords would help ease the housing crisis faced by renters, analysis by research consultancy Capital Economics suggests. Since 2021 mortgage interest tax relief for landlords has been limited to the basic rate of income tax. Modelling conducted for the National Residential Landlords Association by research consultancy Capital Economics suggests that reinstating mortgage […]
Detached homes are movers’ top pick – Halifax
Detached houses were the most popular type of property among people moving homes in the last 12 months, according to Halifax. The mortgage lender reported that the proportion of people moving to detached homes grew from 25% to 32% in the last 10 years, as buyers sought out more space, peace, and privacy. Detached homes […]
Shocking supply shortage still the key factor in rental market
Propertymark says the number of new prospective tenants registering per member branch rose slightly to 118 in April. This figure is up from the December low of just 64 and is also 24 per cent higher than April 2022. Stock remains stubbornly low, however. The number of properties available to rent per member branch remained […]
House prices continue to fall as buy-to-let landlords flee the market
Residential property prices are continuing to fall, newly released figures show, but transactions are ahead of the long-term average due in part to a surge in the number of buy-to-let landlords selling up. According to fresh data from Zoopla, landlords selling homes are adding to supply, accounting for 11% of properties for sale, as many […]
Revealed: The richest and poorest property markets in the UK
Research by Nested, the modern estate agent, reveals that £250bn worth of property has been sold in the UK in the last 12 months with the richest local market situated north of the Scottish border. Nested has analysed the total volume and combined value of property sales in the UK over the last 12 months to […]
Data shows desperate need for more rental properties
Propertymark says the number of new prospective tenants registering per member branch rose slightly to 118 in April. This figure is up from the December low of just 64 and is also 24 per cent higher than April 2022. Stock remains stubbornly low, however. The number of properties available to rent per member branch remained […]
Rents up across the UK – new official figures
Rents in England their upward path last month, rising 0.1 per cent to an annual rate of 4.7 per cent according to data from the Office for National Statistics. “The rapid growth within UK rental prices shows no sign of abating with another annual inflation rise in April” explains Aimee North, the ONS Head of […]
Homeowners and renters face ‘huge’ interest rate shock says Barclays chief
UK homeowners and renters are facing a “huge income shock” as rising interest rates hit mortgages and monthly costs, the boss of Barclays has warned. CS Venkatakrishnan, who is known as Venkat, estimates that payments by mortgage holders and tenants will take a chunk of between 28% and 30% out of their income. He said […]
Renters Reform Bill: Warning changes could ‘decimate’ student market
Plans to abolish fixed-term tenancies in England would “decimate” the student housing market, landlords have warned. The National Residential Landlords Association (NRLA) said a lack of certainty properties would be available at the start of the academic year could cause “chaos”. But the National Union of Students said if students were exempt from reforms they […]