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Monthly Archives: February 2017

Rent Charged Forecast To Increase Greater Than Price Of Homes

The RICS UK Residential Market Survey for January 2017 has predicted that, over the following 5 years, the amount of rent paid by tenants to their landlords is going to increase, on average, by a higher percentage than the price of homes. If this happens then it will be good news for landlords choosing to remain in the residential property lettings business but not so good for homeowners and certainly not good news for tenants. Over the next 5 years it is being predicted that rents will go up by in excess of 25% whilst house prices are forecast to go up by just short of 20% over the same period on a three-month average. This rise in rental charges is partly due to the expected fall in the number of properties being available to rent as the number of landlords is probably going to reduce the number of properties that they rent out and some may well decide to get out of the buy-to-let market completely following the forthcoming cut in tax relief on mortgage interest and the change in stamp duty. It will be interesting to see in which parts of the UK that rents increase the most…

London Tenants Look For Cheaper Rental Properties In The South East

According to information for the fourth quarter of 2016 held by the National Landlords Association (NLA), it would appear that some tenants who have been renting homes in the centre of London are looking to move out into the likes of the South East of England where no doubt the same sort of property can be rented for less money. Apparently, landlords have been reporting that there has been a fall in the interest shown by tenants in Q4 of 2016 in renting properties in central London when comparing the same quarter of 2015. There has been a drop of 28% – from 45% to 17% that we are sure that you will agree is a significant figure. In the South East, 40% of landlords have reported an increase in interest from tenants in renting a property in the final quarter of last year. It is interesting that only 5% of landlords that are renting out properties in London intend to buy additional investment properties to let out over the next three months. A year ago, this figure was 15%. This is very different to Yorkshire where 16% of landlords are planning to buy more properties to rent out in…

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