Record High Rents and Rising Tenant Demand: An In-depth Look
Introduction: The UK rental market has been witnessing unprecedented changes over the past few years, with new records being set quarter after quarter. According to the latest Rightmove rental tracker, average asking rents for new tenants outside of London have reached an all-time high of £1,231 per calendar month (pcm). This figure is a staggering […]
Mayor Urges UK Government to Implement Licensing Scheme for Short-Term Rentals
London Mayor Sadiq Khan has made a passionate plea to the UK government to work together with him and local borough councils in order to establish a licensing scheme aimed at regulating the burgeoning short-term rentals market. The proposed regulations would empower local councils to limit the number of licenses issued within their jurisdictions, thus […]
Average Fixed Rate Mortgages Drop After Months of Increases
The cost of an average fixed rate mortgage has finally taken a step down after months of consistent increases. According to the latest data provided by Moneyfacts, the average two-year fixed-rate mortgage has dropped to 6.79 per cent today, a slight decline from the 6.81 per cent recorded yesterday. Similarly, the average five-year fixed-rate mortgage […]
Private Rented Sector Records Highest Annual Rent Increase in 7 Years
Rents paid by tenants in the UK’s private rented sector (PRS) witnessed a notable surge of 5.1% in the 12 months leading up to June. This increase, up from the previous month’s 5%, marks the largest annual percentage change since the data series began in January 2016, as reported by the Office for National Statistics […]
Why Now Might be the Perfect Time to Invest in Property
Introduction In the world of real estate, timing is everything. The decision to invest in property is often influenced by various economic factors and market conditions. Today, we sit down with Alex Sullivan, the co-founder of Smarter Rent, to discuss the current state of the property market and why savvy investors might find this to […]
Economic Analysts Predict Possible Base Rate Increase for Next Month
Inflation figures released yesterday have sparked speculation among economic and housing analysts, suggesting that another base rate rise may be on the horizon for next month. However, contrary to recent predictions of sharp increases, the latest data indicates a more moderate outlook. The headline Consumer Price Index (CPI) inflation for June registered at 7.9 per […]
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 […]