Wrexham Tops Rightmove’s Busiest Rental Market of 2023
Wrexham, Wales, has emerged as the frontrunner in this year’s dynamic rental market landscape, seizing the spotlight as the busiest rental market of 2023 according to Rightmove, a prominent property portal. Reports indicate a remarkable surge in rental demand within the city, with an average of 56 inquiries per available property from prospective tenants this […]
The Property Portal – The Renters Reform Bill Secret Weapon?
In the wake of the English Housing Survey’s unsettling findings regarding hazards in private rented homes, a warning bell tolls for landlords, heralding the potential complications and opportunities presented by the imminent Property Portal. Recent statistics, revealing that 12% of private renters live in homes posing potential health risks, underscore the pressing need for robust […]
20% of Landlords Thinking About Reducing Their Portfolio
A recent survey conducted by The Property Academy has uncovered a noteworthy shift in the intentions of landlords regarding their buy-to-let (BTL) investments. According to the survey, a significant 20 percent of landlords expressed plans to reduce their BTL holdings, marking a substantial increase from the mere 13 percent reported just a year prior. The […]
Optimism Persists Among UK Landlords Despite Policy Concerns
A recent survey conducted by Butterfield Mortgages unveiled a striking 65% optimism rate among private landlords in the UK regarding the future performance of their property investments. This revelation comes against a backdrop of economic and political uncertainty, signalling a resilient outlook within the landlord community. The survey, encompassing insights from 2,000 UK adults, notably […]
Landlords’ Interest-Only Mortgages See a 283% Rise
Landlords utilizing interest-only mortgages face a staggering 283% surge in monthly interest costs compared to 2021, while those adhering to full monthly repayments witness a substantial 71% increase. This concerning trend emerges from a recent analysis conducted by Octane Capital, delving into the evolving landscape of buy-to-let mortgages. The study, scrutinizing the October 2023 rates […]
Home Builders Federation Forecasts Steep Decline in Housing Supply in 2024
The Home Builders Federation (HBF) has issued a stark warning, predicting a significant drop in housing supply in the coming year. According to HBF’s executive chairman, Stewart Baseley, the forecasted decline could see housing availability plummet to under 200,000 homes by 2024, marking the lowest figure since 2014. Recent data compiled by the HBF reveals […]
Property Market Forecasts Signal Continued Decline in House Prices
Two of the United Kingdom’s leading mortgage lenders, Nationwide and Halifax, have painted a sobering picture for the residential property market in the coming year. Both institutions predict a sustained downturn in property prices, albeit within a moderate range. The economic challenges coupled with significantly higher mortgage rates have led Nationwide to estimate a 2% […]
Landlords Express Concerns About Renters Reform Bill
As the impending enactment of the Renters Reform Bill draws nearer, a recent survey conducted by Confused.com mortgages unveils significant apprehension among landlords regarding the forthcoming legislative alterations and their potential impact on the rental industry. The survey, delving into the current landscape of the buy-to-let sector, highlights concerns among over half of landlords, with […]
Government Proposes Radical Overhaul of UK Home Energy Rating System
The UK government has unveiled plans for a comprehensive overhaul of the country’s home energy rating system, initiating a public consultation to replace the longstanding Standard Assessment Procedure (SAP) rating. This radical change aims to revolutionize how energy efficiency is evaluated in homes across the nation. SAP, the current government-endorsed method for assessing and comparing […]
Landlords Plan Expansion Despite Escalating Costs
Despite facing an imminent surge in costs hovering around an alarming 80%, landlords across the UK are gearing up to expand their investments in 2024. The Intermediary Mortgage Lenders Association (IMLA) has unveiled compelling data, indicating a challenging financial landscape for many landlords in the forthcoming years. The association’s research sheds light on the predicament […]