Tenants are feeling the pinch regardless of whether they move or stay put, according to new data showing rent increases on property sites Zoopla and Rightmove, while the Office for National Statistics has also recorded steep increases to mid-tenancy rents.
The median monthly rent in England between October 2022 and September 2023 was £825 – higher than at any other point on record, according to ONS.
Rents in London have risen at a particularly high rate in the last year – tenants have seen surges of 6.9% in the year up to January – the highest annual rate since ONS…
SINGAPORE – When Mr Shawn Lau collected the keys to his two-bedroom Treasure at Tampines condominium unit in December 2023, he was anticipating a swift rental process in a market that seemed to promise lucrative returns.
However, what followed was a stark reality check. Landlords like Mr Lau have been left grappling with prolonged vacancies.
The once-hot rental market, characterized by high demand and good returns, has softened as newly completed units flood the market, real estate agents told The Straits Times.
Deals used to close within a day, but no longer, observed Mr Alex Low of PropNex Realty.
The…
Chancellor Jeremy Hunt will deliver his 2024 Spring Budget on Wednesday 6 March. It was originally thought he would introduce a 99% loan-to-value mortgage scheme, but recent reports suggest that plan has been abandoned. The Sunday Times also reports that holiday lets have been targeted for a tax raid by Hunt. The industry reflects on what they want, and expect, tomorrow.
Daniel Austin, CEO and co-founder at funding specialist ASK Partners
With housing set to be a battleground point in this year’s election, it is expected to feature heavily in Wednesday’s Budget. As the sector moves to the top of…
THERE could be around 22,000 fewer homes available to rent in Scotland at the start of 2024 than just a year ago, according to a survey by the largest landlord membership body in the country.
A survey of its members by the Scottish Association of Landlords (SAL) also found the biggest reasons for the drop were perceived hostility towards landlords from government and politicians along with concerns over proposals and increasing regulation in the sector.
The survey of SAL members was conducted in December 2023 to find out about the size of their rental property portfolios and how this has…