While Brexit is likely to cause ripples - at the very least - in the UK's housing market, the rental market is expected to remain pretty steady. The slow pace at which any change to the UK’s status will occur is, of course a factor in this assessment while little expected change in demand is another.
Tenants renting privately across the UK will tell you that rents have been rising for years. While that is true, in 2018, the collective total rent paid across Great Britain was £59.1 billion – some £1.9 billion less than in 2017 and the first time that measure has declined in a decade.
As with so many other sectors at the moment, the private rented sector is keeping the hatches battened down and trying to adapt to a fast-changing and unpredictable situation. A safe place to live is hugely important right now, and landlords have found their business affected both by the virus itself and by the various legislative and lockdown measures that have been rushed into force to try and slow its spread.
After years of tenants/landlords bemoaning/celebrating the steady growth of London rents, the past year has seen some curious developments. While rents in some other parts of the country have continued to rise, those in the capital have levelled out, and even fallen in some cases. Talk to an agent, and they’ll tell you they’re not particularly surprised. There are a whole host of things that can negatively affect rental values, and in recent times several of them have come along at once.
People always want to know what’s going to happen to property prices. For landlords, the experts’ forecasts can play a big part in helping you decide what to do moving forward: should you buy more investment property; is it time to sell or is it better to concentrate your budget on upgrading your existing properties?
Talk to other landlords
Connecting with other landlords can provide useful insight during the early stages of researching a new investment. Online forums can be a useful way to speak to experienced landlords to see how they approach new investments, which types of properties they find the most profitable and how they factor in all the additional associated acquisition costs.
While lots of commentators are saying the Brexit vote will mean a spell of falling house prices, others disagree. There are a number of views and predictions of an immediate increase, in the London market at least, as overseas investors look to get more for their money while the pound is in free fall.
A new report has found that more tenants than ever are trying to rent property in the UK, but that the supply of properties is not keeping up with demand. Renters are finding it harder to secure a suitable property, and rents have been rising as landlords look to take advantage of the situation.
After sharing his view earlier this year that rent controls in London would help tenants in the Private Rental Sector (PRS), London Mayor Sadiq Khan is set to begin his plans to do just that. Reports suggest Khan plans to speak with the UK’s central Government and ask it to give him the power to introduce rent controls across London.
There’s some bad news for private rental sector tenants across the UK, as the latest report from ARLA Propertymark shows that the number of tenants whose rent has increased, has risen for the first time since September 2018. The property body said that the increase came amid a rise in demand and is also likely reflective of landlords’ reaction to numerous fee rises and charge increase in recent years.
The Garden of the West Midlands, Stafford is the county town of Staffordshire, an area of heritage, cool attractions and outstanding natural beauty. Known for shoe making until the early 2000s, Stafford celebrated its 1,100 year anniversary in 2013 with a number of history-based exhibitions and a two volume book, “A Complete History Of Stafford” by local historian, Nick Thomas, and writer Roger Butters
Folkestone, Kent is popularly referred to as "the gem of the south coast.” This is a seaside town with not only award-winning pebble beaches within but also the home to stunning Victorian and Edwardian period conversions. The topography of the city is dotted with Victorian Villas and buildings that strategically overlook the sea.
Every landlord knows that it isn’t just about what you buy, it’s where you buy it that counts. You’re not just picking a property; you’re choosing which market to enter. It’s essential to find a city that offers excellent opportunities for investment, as well as healthy growth and a strong rental market. Here are our top 4 picks for the best cities to buy rental property in.
The latest official data on house prices, as calculated by the Office for National Statistics, (ONS) shows the pace of house price growth accelerated in December, pushing the average house price higher, yet again.
The ONS house price index reported the average house price in December 2017, was 5.2% higher than the same period in 2016. That increase was faster than the 5% annual rise reported in November.
With property prices across the UK growing every day, the prospect of renting rather than buying is becoming increasingly attractive. As more and more people turn to renting, it becomes more vital than ever to fully understand exactly how the private accommodation market works. Whether you’ve been renting for years or are just looking for your first place, this complete guide to renting gives you all the do’s and don’ts of renting in today's market.
Housing benefit is a vastly complicated area of the welfare system, and if it seems like a headache for landlords, just imagine what it’s like for the recipient. To try and keep it all under control, there’s an epic piece of legislation called the Housing Benefit Regulations 2006.
Home to The Beatles and Steven Gerrard, it seems that football and music go hand in hand on Liverpool’s historic and iconic streets.
Connected to Cheshire and Lancashire by the River Mersey, Liverpool has a unique personality and an even more unique accent which is recognised instantly around the world.
Another week and yet more disappointing news on the housing market. UK house prices fell in the month of August, for the fifth month in a row, a survey from Acadata showed last week. House prices were 0.2% lower in August than July, a decline that brought the average price for a home across England and Wales to £297,398 from a peak of £305,358 in March 2017.
Recent headlines have been proclaiming that rent growth is down by half, but to many, the wording of that is a little confusing and it’s not really clear what that means. So, let us explain exactly what that headline means for the UK rental market.
Maximising the value of your property is one of your key goals as a landlord. In a climate as tough as today’s, with much of the tax protection that landlords require being eliminated, it’s absolutely essential to get as much value as possible out of your portfolio. Here are our tips for boosting the price of your rental property.