Page 162 – Property118
Houses lifted by red balloons symbolising rising UK property prices with pound sign and upward arrow.

House prices rise as tenant demand slows – RICS

12th December 2024

House prices in the UK continue to rise, while rental demand has shown its first signs of slowing since 2020, RICS says. Its latest Residential Survey shows that despite the slight dip in tenant demand, rent prices are still expected to increase soon. This is due to the ongoing imbalance between supply and demand in […]

Banknotes flying above a house model with a first-time home buyer tag

First-time buyers pay over the odds for homes

12th December 2024

First-time buyers are shelling out nearly 8% more than the asking price for their first homes, an analysis reveals. The findings from estate agent Yopa compared average asking prices to average sold prices for first-time buyer homes. It shows that inexperienced buyers are going to significant lengths to secure their first property. While the average […]

Person huddled in blanket near Christmas tree highlighting homelessness crisis

Rising rents and evictions leave thousands homeless this Christmas claims Shelter

12th December 2024

Shelter is blaming evictions and rising rents for a surge in homelessness this Christmas. According to the housing charity, 354,000 people in England, including 161,500 children, will spend Christmas without a home — a 14% increase in just one year. Government data reveals 45% of families placed in temporary accommodation have been there for more […]

Welsh flag with rising bar chart symbolising stamp duty tax increase on landlords

Welsh government slammed over stamp duty hike for landlords

12th December 2024

Industry bodies have blasted the Welsh labour government over raising stamp duty for landlords and second homeowners in the Welsh Budget. Former First Minister and now Finance Secretary, Mark Drakeford, has announced a 1% increase in Land Transaction Tax (LTT) on additional properties, which is the Welsh equivalent of stamp duty. The NRLA warns the […]

Miniature house with face mask and rising rent arrows reflecting post-Covid rental market trends.

Rents up by £3,240 a year since Covid – Zoopla

12th December 2024

The cost of renting a home has surged since the Covid lockdowns, rising from £12,000 annually in 2021 to £15,240 this year – a 27% increase. However, rising rent has outpaced the growth in earnings, which stood at 19% over the same period. The data comes from Zoopla’s latest Quarterly Rental Market Report which highlights […]

Hands holding a cardboard house with rising homelessness statistic highlighted by a red arrow

Landlords selling up is fuelling the homelessness crisis – NRLA

11th December 2024

The number of tenants facing homelessness due to landlords selling up has soared by a third since the end of last year, the National Residential Landlords Association (NRLA) reveals. It says that between October and December 2023, 5,400 households in the private rented sector (PRS) in England were forced to seek council support after their […]

House wrapped in winter hat symbolizing rising mortgage costs and energy efficiency focus

Rent and mortgage spending reaches record highs amid energy-efficiency push

11th December 2024

Rent and mortgage spending reached a 14-month high as more homeowners focus on improving energy efficiency in their homes for winter, according to Barclays. According to Barclays Property Insight report, rent and mortgage spending grew 8.2 per cent year-on-year in November reaching a 14-month high. The report also reveals a quarter of homeowners (25%) are […]

Christmas scene with house, eviction notice, and repossession sign highlighting tenant and homeowner evictions.

Thousands of tenants face eviction before Christmas

11th December 2024

Thousands of people across England and Wales are facing the prospect of homelessness in the lead-up to Christmas, new figures reveal. Analysis from Tlyfe, a tenant app, and Benham and Reeves, the lettings and estate agency, paints a grim picture of the PRS and owner-occupier markets. Tlyfe’s data indicates that around 2,425 tenants are expected […]

Doormat with “First Time Buyer” beside moving boxes and two people’s feet

Mortgage rates hinder first-time buyers’ homeownership dreams

11th December 2024

Mortgage rates remain a big barrier to first-time buyers in the UK, research reveals. The Mortgage Advice Bureau says that two in five (42%) first-time buyers believe that mortgage rates will make it harder to purchase a property. And more than a quarter (24%) worry that rates won’t drop fast enough for them to afford […]

Rising house prices compared to income growth shown with houses on stacked coins

House prices outpace income growth to hit affordability

11th December 2024

While the UK’s house prices continue to rise, income growth has lagged, making homeownership a distant dream for many, data from the Office for National Statistics (ONS) shows. Using figures for the financial year end of 2023, the issue of buyer affordability in England is particularly dire, it reveals. That’s when the average house price […]

Two professionals discussing withheld landlord documents during a property handover.

Letting agent withholding landlord’s documents?

11th December 2024

Hello, I have recently terminated the landlord agreement with a letting agent in Kent, due to poor service etc. We agreed a financial settlement to end the relationship. The letting agent agreed to release all the documents including the tenancy agreements, tenant contact details, keys etc to the new letting agent, immediately (their words). In […]

Person using laptop with overlay text highlighting rent arrears and tenant rights.

Renters fear arrears as cost-of-living bites

11th December 2024

Renters across the UK are growing increasingly concerned about their ability to pay rent with a surge in online searches related to rent arrears. Data from Zero Deposit reveals there has been an 8.6% increase in Google searches for ‘rent arrears’ over the past three months. There has also been a 3.7% uptick in searches […]

Silhouettes of landlords walking away as houses below show for sale and sold signs.

Landlord exodus grows due to Renters’ Rights Bill and EPC C targets

10th December 2024

Despite the Labour government claiming there is no evidence of a landlord exodus, the English Private Landlord Survey shows a rise in the number of landlords leaving the sector. The survey reveals that in 2024, 31% of landlords were more likely to say they planned to reduce the number of properties or sell them all, […]

Hands typing on laptop with security icons representing data protection.

Is tenant correspondence subject to data protection?

10th December 2024

Hello, My property has just been inspected by the local council after my tenant complained about some issues regarding damp. Prior to the council issuing their report I wanted to provide them evidence that supports my assertion that the problem is being caused by the tenant themselves. This would include emails and chat messages between […]

Buy-to-let mortgage concept with interest rate reduction illustration

Precise and Fleet cut BTL rates for landlords

10th December 2024

Precise and Fleet Mortgages have both announced significant interest rate reductions on their buy to let products. Precise, part of the OSB Group, has introduced a sub-4% BTL product, catering to both first-time buyers and landlords. Key features of the new BTL products include: Tiers 1-3: Rates starting from 3.99% with a 5% fee HMO […]

Commercial property investment insights for 2025 with expert predictions

Why 2025 Is the Perfect Storm for Commercial Property Profits

10th December 2024

2025 is shaping up to be a golden opportunity for commercial property profits. Discover why market conditions, government policies, and shifting retail landscapes are creating the perfect storm for savvy investors. Expert property investor John Howard shares invaluable insights on why commercial property could outperform residential investments in 2025. Learn about the key advantages, including […]

Blue house with a red "Just Sold" stamp representing rising UK property sales.

Buyer demand soars across UK cities as stamp duty changes loom

10th December 2024

Buyer demand continues to rise across UK cities, as stamp duty thresholds are set to end next year. According to estate agent comparison website, GetAgent, 45% of homes currently listed across Britain have either had an offer accepted or are under offer subject to contract. This marks a 5% increase compared to the start of […]

Scale balancing groups of people against houses, symbolizing supply and demand in the rental market

Supply and demand levels fall after post-pandemic surge

10th December 2024

The imbalance of supply and demand is returning to normal after five years of soaring levels. According to SpareRoom, supply and demand levels are now beginning to fall back to pre-pandemic levels. The flat-share website suggests this drop could signal a positive start for the property market next year. People moving post-pandemic The data from […]

Smiling older couple holding house keys, symbolizing rise in older renters

Older tenant numbers surge as younger renters decline

10th December 2024

Tenants on the brink of retirement are the fastest-growing group of private renters in England, research reveals. According to an analysis by Paragon Bank, the number of households headed by individuals aged 55 to 64 rocketed by 66% between 2014 and 2024, reaching 492,000. Those aged 65 and over followed closely, with a 33% increase […]