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Rental demand highest this year but supply down: ARLA

ARLA Propertymark has released its Private Rented Sector report for July, which shows that tenant demand has increased 13 per cent annually, while rental supply has fallen 4 per cent within the same time frame.

This amounts to 79 prospective tenants per letting agent (the highest level yet in 2018, and the highest since September 2017) versus 70 a year ago.

In terms of supply, ARLA reports that each letting agent has 184 properties on offer, down from 191 in June and 192 year-on-year. The research sample comprises 191 ARLA members, polled in early August.

Meanwhile, the report states that 31 per cent of tenants had their rents pushed up in July (down from 35 per cent in June). This number also stood at 31 per cent in July 2017.

This continuing supply and demand imbalance is an issue brought up earlier this month in the RICS UK residential market survey, which forecast rent increases of up to 15 per cent by 2023 if the situation continued.

ARLA Propertymark chief executive David Cox says: “Buy-to-let investors are being pushed out of the market by increasing costs and continued regulatory change, and new landlords are being deterred from entering… and as supply falls, competition among tenants increases, which pushes up rent costs.

“To put tenants back in the driving seat, we need more homes available to rent, and the only way this will be achieved is if the government makes the market more attractive for BTL investors.”



Nearly half of renters borrowing to fund deposits: Which?

A report conducted by Which? shows that 43 per cent of renters have to borrow, in some cases using a credit card, in order to fund their deposit. The report, “Reform of the private rental sector: the consumer view,” aims to take an “end-to-end approach” to the process of searching for, moving into, and moving […]


Top five Londoner renting worries revealed

Research performed by London-based rental home owner Tipi shows that within London at least, health concerns are the overriding worry for tenants. The survey questioned nearly 20,000 people regarding what issues when renting got under their skin the most. In first place were the aforementioned health concerns, which include issues with cockroach and mice infestations, […]

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Rents in London climb to 36% of average income

Average rent as a proportion of income in London hit 36.2 per cent in July, compared to 30.8 per cent a year ago, the latest index from HomeLet reveals. For the UK as a whole, rent as a proportion of income rose to 31.8 per cent compared to 28.1 per cent a year ago. Average […]

Goldman Sachs launches UK savings bank

Wall Street titan Goldman Sachs has moved into retail finance in the UK as it launches a new savings bank. The bank is opening its doors to less affluent consumers with an online access account that can be opened with a minimum £1 deposit. The Times reports that the new savings bank, named Marcus after […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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