Measures aimed at fixing Britain’s “broken housing market” are being unveiled by ministers.
Communities Secretary Sajid Javid is saying the proposals will help people currently priced out of buying a home, and bring more stability to renters across England.
Fewer tenants are falling into serious rent arrears thanks to the improving employment market, according to letting agents Your Move and Reeds Rains.
In absolute terms, just 86,200 tenants across the UK are more than two months behind in their rent. This compares to 89,300 in the previous quarter. This represents a 4% fall and means that 3,100 households in homes to let have moved out of serious rent arrears since the end of 2015. Continue reading
The Housing and Planning Bill, which includes measures to tackle criminal landlords and letting agents, should also address the issue of problem tenants, according to the Association of Independent Inventory Clerks (AIIC).
Included in the Bill are proposals to ban and fine criminal landlords and letting agents, introduce rent repayment orders and establish a database of ‘blacklisted’ landlords and agents.
London will become a city of renters, with just 40pc owning their own home in 2025, according to new research from PwC and reported today in The Telegraph.
This is a reversal of the situation in 2000, when 60pc of Londoners owned a house, either outright or with a mortgage.
Commenting on research published by the Joseph Rowntree Foundation, the Chief Executive of national charity Citizens Advice has said that the “whirlwind” of changes has left increasing numbers of people unable to pay their housing costs.
Citizens Advice Chief Executive, Gillian Guy, said: Continue reading
Just before the General Election, a poll of future MPs published by the National Housing Federation has revealed that nine in 10 (89%) are worried that most under-30s in their constituency will not be able to afford to buy a home in a decade’s time. This echoes young people’s concerns that they will be renting for life.
The ComRes poll of sitting MPs and parliamentary candidates most likely to win their seats also found that almost seven in 10 (68%) future MPs would like the leader of their own party to do more to tackle the county’s housing challenges. Continue reading
New research suggests there will be an exodus of landlords from the Scottish Private Rental Sector (PRS) in light of the removal of no fault grounds for repossession and the spectre of rent controls in City hotspots.
The figures from lettings portal Citylets make for stark reading and have far reaching consequences for the sector which is already struggling to meet demand in some of its major cities. Continue reading
After a recent spurt of rent growth, landlords anticipate that rent rises will taper off over the next twelve months, according to a sentiment survey of more than 1,200 landlords conducted by Your Move and Reeds Rains.
On average UK landlords anticipate that rents will increase by 1.7% in the coming year, a sharp slowdown from the current rate of annual rent growth to a steadier trajectory. According to the latest Buy-to-Let Index from Your Move and Reeds Rains, average residential rents across the UK climbed 3.7% in the year to March 2015, the fastest pace for two years. Continue reading
Commenting on quarterly landlord possession statistics released by the Ministry of Justice (MoJ), Paul Shamplina, Founder of Landlord Action, a firm which specialises in dealing with problem tenants, says that despite an overall 5% fall in possession claims issued at county courts in 2014 versus 2013, he believes the figures are skewed by a more lenient approach taken by social landlords, and that the continued rise in accelerated possession cases which are at a 15 year high, indicate the severity of the UKs housing shortage.
Social landlord possession claims (those made by councils and housing associations, mainly for rent arrears and anti-social behaviour) have fallen by 10,500 in the last year, whilst private landlords seeking hearings before judges have only fallen marginally by 629, but accelerated cases have risen by nearly 2000 to 36026. Continue reading
With house prices soaring above wage levels, is London destined to become a city of renters?
Is shared ownership the answer? If so, does it work for low income groups? Or do shared owners get trapped, and unable to sell on? Continue reading