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Market prediction: Optimism for the 2020 rental market

If there is one thing the property market dislikes, it is uncertainty. Regardless of individual opinions about Brexit and UK politics generally, many believe the decisive result of the UK general election will lead to what some are calling a ‘Boris Bounce’. It would appear there will be no more threats of ‘dying in ditches’ from the Prime Minister: The UK will leave the EU at ...

House prices growth improves; whilst rents continue to rise

haart comments Average rents across the UK rose by 3.5% in December 2019 when compared to the same month a year previously; the average monthly rent is now £953 Rents in London increased by 2.1% in December 2019 versus in the same month of 2018; the average rent in the capital now stands at £1,630 a month When London is excluded, the average UK rental value was £79 ...

Where you could invest in 2020

Property experts across the UK are predicting an increase in demand for property in the early part of this year, meaning that the somewhat cautious attitude towards buying a property may dissipate and confidence returns. Within the New Homes market, we expect to see housebuilders create some urgency within their messages to buyers, in advance of tighter rules and regional caps ...

The end of the S21 – what do you need to know

In the second state opening of Parliament in just a matter of months, the Queen confirmed in December that the Government will make fundamental changes to the 1988 Housing Act, including abolishing Section 21 Notices. The announcement came as no surprise to the industry, as all major political parties had promised to give tenants greater rights in their manifestoes. And this p ...

How the 2010s affected property prices

It’s safe to say the 2010s have been a difficult decade in terms of political uncertainty from the initial EU referendum to the final decision on Brexit.  This has been reflected in property price growth over the decade compared to the 1980s, 1990s and 2000s as reported by the Nationwide house price index. How have house prices changed over the decades? On average the propert ...

As the General Election concludes – what will change for the PRS?

We’ve finally reached the end of what feels like a very lengthy General Election campaign. This historic, first December poll for almost a century has returned Boris Johnson to No.10 Downing Street with a stronger majority than when he entered. The Conservative Party had promised to push housing further up the agenda in the next parliament so, just what can we look forward to ...

A year in the PRS

As we bid farewell to an eventful and unpredictable 2019, we’ve looked at just what has changed in the Private Rented Sector since the start of the year. Interest rates: The Bank of England base rate remained unchanged throughout the whole year, staying at 0.75%, meaning official rates have not risen above 1% since February 2009. Interest rates were as high as 6% at the star ...

The PRS and the Environment

One of the biggest topics dominating the news this year has been increased concern over the impact of climate change, pollution of our oceans and the quality of the air that we breathe. Many people agree that the Earth’s natural resources are coming under increased pressure as a result of single-use plastics, coal fired power stations and the impact of airplanes, cars, trucks ...

Introducing LetTrak

So much can change in a decade.  Back in 2010 we thought we were tech savvy if we had an iPhone; whilst iPads had only just launched - and not many of us owned one.  Meanwhile the concept of ‘working 9-5’ or commuting to office five days was set to change with the launch of WeWork in 2010; whilst taxi hailing firm Uber was already a year old. We didn’t realise it at the ti ...

Extreme Weather, Christmas Songs, and the General Election – but life goes on in the PRS

As we approach the final month of 2019, we’ve already witnessed the first extreme weather event of the season with devastating floods impacting parts of the Midlands and Yorkshire. The images of stranded cars, residential roads being passable only by boat and water gushing through family homes are all too familiar; but are devastating for everybody effected. Meanwhile, it seem ...

A decade of life in the Private Rented Sector

According to tenant referencing provider HomeLet, over the past year rents have risen 2.7%, whilst the Office of National Statistics report that house prices have risen by just 1.3%. However, whilst we all often focus on what has happened versus the previous month or year - just how has the property market changed within the last decade?     Start of the decade By th ...

Protecting your investment throughout winter

The recent floods across parts of the Midlands and Yorkshire remind just us how brutal the UK weather can be over the winter months. Our thoughts are with the many communities impacted by the floods. It is always astonishing to see just how much damage flood water can do to a property. In some instances, residents need to move out of their home for months- or even years- whils ...

Could you become an Accidental Landlord?

Whether you’ve inherited a home, or moved in with a partner; if you find you now have a “spare” property - could you become an accidental landlord?  The current economic uncertainty is causing some would-be-sellers to hesitate before putting their property up for sale – and so if you’d rather not sell a “spare” property right now, then you could find becoming a landlord provi ...

Political Uncertainty and the property market

After the recent ‘Super Saturday’ defeat in Westminster, it remains unclear whether we will leave the EU at the end of October. But now that a general election is expected early in the New Year, we have several more months of the main parties making claims and promises in the run up to the publication of their manifestoes. The policies intended to tackle what some describe as ...

Rents continue to rise whilst house price growth stalls

haart says: Rents in the UK rose by 2.5% in September compared to the same time a month a year ago; the average monthly rent now stands at £967 Rents in London increased by 3.3% in September this year compared to September 2018; the average monthly rent in the capital now stands at £1,694 When London is excluded, the average UK rental value was £797 in September 2019, th ...

Rent Controls: Explained

In the latest in our series of blogs, we ask “Would rent controls be a good, or a bad thing?” If some opinions in the market are to be believed, landlords are raising rents beyond reasonable expectation, whenever they like - which is why Rent Controls appear to be a policy the Labour party may adopt into a future manifesto.   However, whilst the policy could appear to be in s ...

Thinking of expanding your portfolio? We've assessed your options

There appears to be no slow-down in the demand for rental homes, but there is a decline in the volume of properties available for rent. This means the UK is crying out for new landlords to enter the sector, or for existing landlords to increase their portfolio. If you’re one of those landlords who is looking to expand your portfolio, just what are your options? We asked our In ...

How the property market is responding to Brexit uncertainty

Now that the evenings are drawing in and the familiar smell of barbeques wafting across from the neighbour’s fences are few and far between, we’ve clearly reached autumn.  Although the seasons follow a familiar pattern and we’re all preparing for the colder months ahead - the world of politics is proving to anything but predictable! It seems the only thing with any certainty ...

What will the next Government have in store for housing?

Although MPs aren’t due to return to Westminster until the middle of October, the annual Conference Season is now in full swing so there is no escaping politics. However, with a General Election widely believed to be on the way this year, all eyes will be on what policies each party could develop and form into their manifestos. What do we know so far about the main party polic ...

With two new Housing Ministers and a new PM: What is in store for the Private Rented Sector

As the summer defined by record-breaking heatwaves being followed by torrential rain and storms starts to draw to a close, we hope the autumn weather will be a little more predictable. However, it is just a matter of days until Boris Johnson’s brand-new Government returns to Westminster, and speculation is mounting about just what may happen between in the 59 days between the ...

Tenant demand increase, as supply of rented homes falls

The most recent HomeLet Rental Index released this month shows that rents across the UK have risen by 2.3% versus the same time last year; this is up from 1.8% in June. Meanwhile, our own data from June revealed that there has been a staggering 23% surge in the number of tenants looking to rent compared to the same time last year, however this is not being matched by supply - ...

What is Build-to-Rent, and how will it affect Private Landlords?

Build-to-Rent: Explained  So, just what is ‘Build-to-Rent’ – and how may it impact private landlords? More than a decade ago, a comprehensive report into the Private Rented Sector was released which concluded there was an urgent need for institutional investment into private rented homes in the UK. Some believed the plan was to squeeze private landlords out of the market – h ...

Right to Rent: The Facts

Since 2016 landlords in England have been required to check whether prospective tenants have the right to reside in the UK.  The scheme is not without controversy, with many claiming landlords shouldn’t be required to fill the role of a ‘Border Agency’.  What are the requirements: Firstly, as a landlord you – or your agent – must establish whether the applicant either has a ...

Top Kitchens for Bakers

The new series of the Great British Bake Off is upon us again with Paul, Prue, Sandi and Noel back on our screens, you may be planning to bake along with the challenges and thinking you need a bit more space to create those awesome showstoppers or maybe practice for the next series!  You may just be an experienced home baker looking for more space.   If you know your choux pas ...

Top tips for renting at University

The start of the first semester is not too far away, hopefully you (or your family member) has got a place at one of their chosen universities and are now looking forward to life as a fresher!  There will be a lot to prepare for the start of the first semester.  What you may not know, is a lot of first year students look for housing off campus for the second year as early as th ...

As the UK welcomes a new Prime Minister into Number 10 - what changes can we expect to see for the Private Rented Sector?

After a lengthy leadership battle, we finally have a new Prime Minister installed at No.10 Downing St as Theresa May passed the baton as Leader onto former Foreign Secretary Boris Johnson. Mr Johnson made a number of bold promises during his campaign, including a pledge to reduce the levels of stamp duty payable – and there is speculation he may go even further by switching the ...

Rents continue to rise whilst property prices continue to slow

The average rent in the UK is now £941 per month, up by 1.8% (£17) versus the same time last year The region with the largest year-on-year increase is Northern Ireland, showing a 4.7% (£30) increase on the same time last year When London is excluded, the average rent in the UK is now £781 per month, this is up by 1.8% (£14) on last year Average rents in London are now £1,611 ...

When and how to increase rents

The Private Rented Sector continues to be the go-to tenure for people of all generations, with an estimated 20% of all households privately renting a home. The sector used to be synonymous with low quality, and student housing - but renting a home has become the first choice for a growing number of older renters, particularly if they value ease and flexibility. According to th ...

When it’s time to say goodbye: A landlord’s guide to evictions

It’s inevitable that all tenancies must come to an end. In many cases, the tenant will call time – and this could be for a variety of reasons. Maybe they’re in a student home and their studies have ended; sometimes the tenant needed somewhere temporary to live whilst their own home was being built or renovated; or perhaps it is simply time to move on. Once the initial tenancy ...

Schools Out - Great locations for kids activities

Schools out for Summer! We have picked out some great places to visit over the summer holidays, especially if the heatwave continues.  You may love these places so much you may want to move here?  If so why not book a free property valuation here.  We have picked some top picks for buying and renting in each area which are featured below.     Weston-super-Mare As well as the ...