Rents Experience Record Surge, Outpacing Property Price Growth
In a startling development, private rents in the UK have skyrocketed at an unprecedented rate, surpassing all previous records since January 2016, according to the latest figures released by the Office for National Statistics (ONS). The report reveals a nationwide increase of 5.1% in rental costs, with Wales and Scotland witnessing even steeper rises. As […]
Inflation Drops to Lowest Level in 15 Months, Easing Mortgage Rate Concerns
Inflation fell beyond expectations on Wednesday, raising hopes that the mounting pressure on mortgage rates may soon alleviate. According to data from the Office for National Statistics, the Consumer Prices Index (CPI) inflation stood at 7.9 percent in June, a decrease from May’s 8.7 percent and the lowest level in 15 months. The main driving […]
Commercial Property Market in the UK Faces Decline in Activity
In a recent analysis conducted by Sirius Property Finance, it has been revealed that the commercial property market in the United Kingdom witnessed 2,682 transactions in 2022. The study examined the level of commercial property transactions across different regions in Britain and forecasted the market’s performance for 2023. According to the data, London emerged as […]
Average Rent on Newly Let Properties in Britain Soars to £1,273 per Month
According to the latest data from lettings agency Hamptons, the average rent on a newly let property in Britain reached an all-time high of £1,273 per month in June. This figure represents an increase of £110 per month or 9.4 percent compared to the same period last year, marking the sixth strongest annual rent surge […]
Co-Op Bank and Shelter Join Forces to Protest Against Section 21 Evictions
The Co-Operative Bank and the campaigning charity Shelter have joined hands to voice their opposition to Section 21 evictions, a contentious issue plaguing the rental market. In a coordinated effort, the two organizations have orchestrated a protest in central London, aiming to draw attention to the alarming number of families affected by such evictions. According […]
Discrimination Revealed Against Migrant Communities in Rental Market
In a recent study conducted by Generation Rent and Migrant Organise, alarming evidence of discrimination against migrant communities seeking rental accommodations has come to light. The organizations, drawing from a limited sample of just 126 migrants in private rentals, have exposed the struggles faced by 42 percent of participants in finding a landlord or letting […]