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Quarter of UK lettings agents report higher rents in first month of 2015.

One in four letting agents in the UK have seen private sector rents rise at the beginning of 2015, according to the first of a new monthly report from the Association of Residential Letting Agents (ARLA).

The index tracks key market trends within the private rented sector and also found that London has the highest demand for rental property in the UK and on average it takes five viewings for a property to be let.
The January report, which was conducted among ARLA members, reveals that on average 27% of licenced branches saw an increase in the cost of monthly rent for tenants from December 2014 to January 2015.


Source: Property Wire

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Rents in UK set to rise in next five years, according to lettings agents.

A third of lettings agents in the UK reported that rents increased in April, the latest data shows, and many believe they will continue rising over the next five years.

The latest monthly private rental sector report from the Association of Residential Letting Agents (ARLA) shows that in the North West some 46% of landlords reported an increase in the region.

Overall nine in 10 agents reported that they were happy with the general election result and with Labour’s rent cap proposals thrown out, 79% of ARLA agents predicted that rents will increase over the next five years.


Source: Prroperty Wire

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UK lettings agents and landlords surprised at proposal for mandatory licensing.

The private rented sector in the UK said it is surprised about proposals to introduce a mandatory licensing system due to be in the Queen’s Speech later this week at the opening of the new parliament.

Prime Minister David Cameron said in his speech on immigration last week that landlords throughout the country will be required to check the status of immigrants who rent their property following a pilot in the West Midlands.

But, without giving details, he also said that a new mandatory licensing scheme will be introduced along with new rules allowing landlords to evict illegal immigrants more quickly.

‘We’ll also crack down on the unscrupulous landlords who cram houses full of illegal migrants, by introducing a new mandatory licensing regime. And, a bit like ending jobs when visas expire, we’ll consult on cancelling tenancies automatically at the same point,’ he said.


Source: Property Wire

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Tel: 0121 247 6832

UK govt announces new measures for residential lettings sector.

New measures are being introduced in the UK that will create a bigger, better private rented sector for tenants and landlords aimed at getting rid of rogue operators.

There are more than 4.4 million households renting privately in the UK and Housing Minister Brandon Lewis said the measures that will ensure tenants know their rights and where to go if they have a problem in their home.

He explained that these changes aim to root out the small minority of rogue operators who shirk their responsibilities and make people’s lives a misery without hampering the efforts of the vast majority of landlords who are diligent and responsible.


Source: Property Wire

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UK house price expectations remains positive, latest index suggests.

House price expectations in the UK remain positive, but signs of a post-election bounce are largely confined to London, according to the latest property sentiment index.

Some 20.2% of the 1,500 households surveyed across the UK for the Knight Frank and Markit Economics house price sentiment index said that the value of their home had risen over the last month, while 4.1% reported a fall.

This gave the HPSI a reading of 58, the twenty-sixth consecutive month that the reading has been above 50. But it was a slight decrease on last month’s reading of 58.2, indicating that households may have factored in the uncertainty caused by the general election to perceived price growth.


Source: Property Wire

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Improved economy helps UK commercial property markets.

The last year has seen a marked shift in the commercial property markets in the UK, powered by improved economic fundamentals which drive the underlying occupier base, according to new reports.

The broad based improvement in economic growth, aided by low inflation, has seen improvements in both consumer and business confidence, which should lead to rental growth where demand outstrips supply, says the latest analysis from Cluttons.

The firm’s Commercial Property Market Outlook report indicates that the industrial sector is now showing similar performance to offices, as Cluttons predicted last year.

Source: Property Wire

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Signs of a strong house market recovery in the UK regions.

The outlook for the UK housing market in 2015 is positive, despite some challenges, with signs of a strong recovery in the regions, according to the latest quarterly analysis report.

National estate agent Strutt & Parker is forecasting UK house price growth of 5% in 2015 overall and 9% in the Greater London area. But prime central London is expected to stagnate at 0%.

According to Stephanie McMahon, head of research at Strutt & Parker, there is still an imbalance between London and the rest of the UK but there are signs of strong recovery in the regions as buyers outside the capital look for affordability.

‘The holding off of interest rate rises, now not expected before autumn 2015 at the earliest, is a big positive. This combined with continued wage growth and low inflation, should give the national market the momentum it needs. We should see a flurry of activity up until the autumn as buyers take advantage of the low interest rate environment, she explained.

Source: Property Wire

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UK commercial property set to see strongest returns for 25 years

The UK commercial property market may achieve returns of over 20% for 2014, making it the strongest return the country has seen in the last quarter century, according to new research.

With liquidity in the market and increased investor confidence, performance for the year is forecast to be exceptional, says a new report from global real estate fund manager M&G Real Estate.

Although in the medium term, M&G Real Estate’s research anticipates the market reverting to the trend level of between 6% and 8%.

But the UK Real Estate Market Outlook report for September 2014 highlights that heightened confidence in the UK’s economy, with growth ahead of its closest competitors, the United States and Canada.

Confidence is triggering increased occupier demand, particularly in the office and industrial markets. This demand is resulting in lower vacancy rates and accelerating rental growth.

At a time of low supply of stock owing to previous constrained levels of construction, the UK property market is now attracting substantial interest from both UK and international investors. Rapid yield compression, aided by rental growth, has pushed average capital values up by 6.7% over the six months to August 2014, according to IPD.

Source: Property Wire

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British people aspire to build their own home with the very latest technology

There is still strong demand in the UK from people who want to build their own home with new research showing that 27% aspire to do so and many want the very latest technology.

The most common reason for people building their own home is to have the freedom to design it how they want with 79% giving this reason, according to the research by price comparison website Confused.

Some 33% would be fulfilling a life-long dream by building their own home and 33% want a property that is unique. But just 7% have actually fulfilled their dream.

The research also shows that 34% say they would like to have more modern technologies in their home with 34% wanting to control appliance by smartphone, 21% wanting self flushing toilets and 20% voice activated lighting.

Nearly half, 49%, say they would like to have a home security system, 46% would like to have underfloor heating and 40% would like to have a home cinema or entertainment system.

Although many people want their homes to be more technologically advanced in the future, it’s clear that technology already plays an important part in today’s modern home. A third believe that modern technologies make running a home easier and 9% already control some household appliances with their phone.

Sources: Property Wire

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