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London private rental increases 'significantly below inflation'

The average rent paid by private tenants in London has risen by less than inflation over the last eight years. Inflation was measured at 30.5 per cent between 2005 and 2013, according to Retail Price Index data released by the Office for National Statistics. This is significantly higher than the 11.4 per cent increase in rents across London during the same time period. ...

5th Feb 2014

Rise in cost of renting slows in 2013

The cost of renting went up by 1.5 per cent in the last 12 months and the average cost of a rental property in England and Wales was £745 a month at the end of December 2013, according to the latest LSL Property Services Buy-to-Let Index. The annual rise in rental costs in 2013 was less than half the level of 3.2 per cent recorded in 2012 and provides some respite to ...

17th Jan 2014

Renting news archive

CBI calls for improvements to rental sector housing policy

As the housing sector focuses more on home ownership a generation of renters could be left behind unless the government does more to encourage investment in the rental sector, according to business group the CBI. The CBI said that by 2018, one in five households will live in private rented accommodation and if demand continues at that rate, £57 billion of investment ...

15th Jan 2014

Property costs push one in five into debt

Almost 20 per cent of people are using loans, overdrafts, credit cards or borrowing money off someone they know to pay their rent or mortgage, according to housing charity Shelter. In a survey of 3,500 people, Shelter found that 19 per cent of people had borrowed money to pay for their housing costs in 2013 and many of these were taking on risky loans to try to keep their ...

15th Jan 2014

Overseas property investors in UK passes two million mark

A new report from accountants UHY Hacker Young shows that the number of foreign landlords investing in UK property has passed the two million mark. Its research found that the number of overseas landlords renting out property in the UK has risen by six per cent in the last 12 months, up from 1.93 million to 2.04 million. According to the research the number of foreign ...

7th Jan 2014

New government initiative targets rogue landlords

Ministers are getting tough on rogue landlords that make the lives of hard working tenants a misery. Housing minister Kris Hopkins has committed £4 million to put an end to squalid and potentially dangerous properties. The funding will be shared among 23 local authorities as part of an initiative to build on their work to root out ‘beds in sheds’ and take ...

31st Dec 2013

North East and Wales lead rental price race

Rental prices in Wales and the North East outperformed the rest of the UK in November, as landlords in the regions cashed in on rises. The North East saw a 10.35 per cent increase in rental prices, totaling £65, while in Wales they rose 7.43 per cent, or £45. Across the country the increase was £10 on average, just a 1.08 per cent rise. The average cost of ...

20th Dec 2013

Industry experts welcome government attack on "cowboy" landlords

A new government attempt to protect tenants from being "ripped off" by rogue landlords has been welcomed by industry experts. The announcement comes off the back of a select committee inquiry into the rental sector which saw MPs call for a concerted attack on "cowboy" letting agents. The rental sector is the "wild west" of the property world ...

17th Oct 2013

South London tops rental increase league

Rents are rising fastest in south London according to new research from a letting agency in the capital. This is despite talk of a prime central London boom and the extensive regeneration in the east of the city. Greenwich saw an 11 per cent boom during the last year, while rents in Bermondsey, Southwark and the South Bank grew by nine per cent. Surprisingly a fall was ...

15th Oct 2013

BTL mortgage terms confusion follows tenancy announcement

Buy-to-let mortgage providers in the UK are facing a rush to renegotiate their terms following an announcement from communities secretary Eric Pickles. Mr Pickles announced on Tuesday (October 2nd) that families living in the private rented sector will soon be able to demand longer tenancies of between two and five years to give them a degree of stability. However, this ...

2nd Oct 2013

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