View more on these topics

Lettings boost from unsellables

Would-be sellers continued to flood the rental market with unsellable properties at the end of last year, research from the Royal Institution of Chartered Surveyors reveals.

The RICS Q4 2008 residential lettings survey shows that the num-ber of surveyors reporting a rise in rents went from -12% to -48% bet-ween Q3 and Q4 last year.

Q4’s net balance is the lowest level in the survey’s 11-year history.

Regionally, the South-West saw a marked drop in rental prices, with surveyors seeing a rise in rents go from 0% in Q3 to -73% in Q4.

Pressure on rents has been caus-ed by more property coming on to the market in recent months.

Some 46% of surveyors said they had more instructions for flats to rent than the previous quarter while 53% said they had more instructions to rent houses.

Jeremy Leaf, spokesman for RICS, says: “The marketplace has become more competitive as rel-uctant landlords continue to look to let properties that they are unable to sell.”


Tenant demand leaps 46% year-on-year

Figures from Your Move show tenant demand jumped 15% in February from January, with demand almost doubling since 2008.

NAEA calls for Beckett to suspend HIPs

Following Margaret Beckett’s admission that the government has spent £1.3m on promoting Home Information Packs, Peter Bolton King, chief executive of the National Association of Estate Agents is calling for their elimination.

Sales jump for mortgage protection insurance

Helpucover says it has seen a 69% increase in the rate of sales for its income protection and mortgage payment protection insurance products in the first two months of 2009 compared with the second half of 2008.

Coreco Group joins Mortgage Advice Bureau

Coreco Group, the breakout venture initiated by some of the former senior management team and key consultants at Cobalt Capital is to become an appointed representative of the Mortgage Advice Bureau.

Pensions - thumbnail

Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


News and expert analysis straight to your inbox

Sign up