In the UK private rented sector, the average rental price for a residential property now stands at a staggering £777 (GBP) per month across the whole of the country, but there are some regional differences. Private sector rents in Greater London rose by 6.7% during the last 12 months to reach a regional average of £1,224 […]
Read MoreAccording to one of the UK’s leading mortgage lenders, residential property prices in the UK rose by more than economists had expected in January putting a halt to the annual decline. Nationwide say that residential property prices in the UK actually increased by 0.5% in January 2013, a further sign that the two years of […]
Read MoreThere has been a general slump in the number of private landlords in the UK who are willing to take applications from people on benefits and local authorities are being warned that they need to take action. As previously reported, http://blog.legal4landlords.com/welfare-reform-is-bad-news-for-landlords-and-tenants , there is now a significant fall in the number of landlords even willing […]
Read MoreThe homelessness charity, Shelter, say that Private Rental Sector (PRS) rent increases are leaving more tenants in a rent trap. According to the charity, private sector rents in England are rising by an average of almost £300 a year across the country, in the South-East where PRS rents in some areas have gone up over […]
Read MoreIn the UK the combination of high tenant demand, increasing rents and realistic vendor pricing of properties for sale has been a major driving factor behind the increase in PRS rental yields. Buy-To-Let rental yields increased from 6.1% to 6.7% over the last quarter of 2012, with the biggest jump in the private rented sector […]
Read MoreThe number of tenants in severe rent arrears declined by 15.6% during the final quarter of 2012, according to data released by Templeton LPA, part of the LSL Property Services group. The data indicates that in the last quarter of 2012, almost 16,000 fewer tenants faced severe rent arrears of more than 8 weeks rental […]
Read MoreMillions of property owners and tenants renting property in the Private Rented Sector (PRS) are resorting to extreme measures including high interest pay day loans to avoid eviction as well as trying to make ends meet after falling behind on monthly housing payments. According to a new report by homelessness charity Shelter, nearly 8 million […]
Read MoreAnalysis of rental data by Belvoir Lettings has revealed that private rented sector (PRS) rents have fallen across the UK by an average of 2.4% since the start of the credit crunch in 2008. Belvoir said it gives a much more accurate view of the UK PRS rental market on a national scale rather than […]
Read MoreLandlords Urged To Be More Realistic With Rental Asking Prices With tenant demand for private rented sector (PRS) property easing due to the countdown to Christmas and New Year, it has come to light that many landlords have set rental asking prices that are beyond the affordability of many tenants. London-based property consultants have advised landlords to […]
Read MoreRents Rise But Arrears Fall Regardless of all the media reports about PRS rents rising for the seventh consecutive month, it also appears that the level of late or unpaid rent has fallen to the lowest level since January, equating to 8.1% of all rent across England and Wales in October 2012. A survey by LSL […]
Read MoreThe UK buy-to-let mortgage market continues to show signs of making a good recovery as lenders reveal that over £4 Billion (GBP) worth of mortgages were taken by active property investors during the 3rd quarter of 2012. The UK’s Council of Mortgage Lenders (CML) stated that £4.2 Billion (GBP) worth of mortgages were taken […]
Read MoreThe UK’s rental market has seen strong growth over the last year with rents stabilising in the third quarter to an average rent of £970 per calendar month after an initial fall in price in August. The market has seen a 2 percent increase in rents from September 2011, just 0.6 percent below the rate […]
Read MoreUK residents are still paying more than 40% of their net income on housing costs, keeping the UK as the third most expensive place to live in the EU behind Denmark and Greece UK families are still among the worst off in Europe when it comes to housing costs, spending more than 42% of their […]
Read MoreRenting Property Costs More Per Month Than Buying It! A study by mainstream mortgage lender the Halifax has revealed that renting a property now costs over £130 per month more than the monthly cost of buying a property. UK landlords are holding on to Buy-To-Let goldmines as not only can they command premium rental prices from tenants but they […]
Read MorePRS Rents Soar To New Record Highs! UK landlords have been urged to take action to protect rental income as a new survey reveals private sector rents have risen to a new record high this year. The research carried out by LSL Property Services has revealed that property rental prices in the UK private rental sector (PRS) have […]
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