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Average monthly rent across UK for May 2018 now stands at £919 according to Homelet
Latest Homelet Rental Index – May 2018 report reveals that average rents across the UK rose by 2.0% in May 2018 when compared to the same month a year previously. The average monthly rent now stands at £919. When London is excluded, the average UK rental value was £763 in May 2018, this is up…
Allen Walkey
CIH Scotland responds to the government when reviewing the landlord registration application
In its response to the Government, the Chartered Institute of Housing Scotland has called for all landlords to make clear they are complying with all of their legal obligations when applying to the landlord register and for meaningful enforcement when standards are not being met. Ashley Campbell, CIH Scotland’s policy and practice manager said: “Reviewing…
Allen Walkey
RLA supports legal review of Right to Rent scheme
The Residential Landlords Association (RLA) announces in a press release their support for judicial reveiw of the Right to Rent scheme. Under the Right to Rent Scheme, landlords are responsible for checking the immigration status of their tenants with the prospect of prosecution if they know or have “reasonable cause to believe” that the property…
Allen Walkey
A rise in the number of Landlords selling up in April according to ARLA
Latest ARLA Private Rented Sector report – April 2018 reveals letting agents saw the highest number of landlords selling their buy-to-let (BTL) properties since records began in 2015. ARLA reports that in April the number of landlords exiting the market rose to an average of five per branch, up from four in March. In March,…
Allen Walkey
Proposed changes to dividend tax could impact limited company buy to lets
Proposals from the Office for Tax Simplification (OTS) could increase the amount of dividend tax paid by landlords who operate their buy to let property businesses in limited companies. Andrew Turner, chief executive at specialist broker Commercial Trust Limited, looks at how these suggested changes might affect some buy to let landlords. In recommendations that…
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Landlords in Scotland continue to earn strong returns according to Your Move
Latest Your Move Scotland – Rental Tracker – May 2018 report – April 2018 data headlines ‘Scottish rental market continues stable performance’. The report reveals that Landlords continue to earn strong returns, average rent increases of 0.2% in the last year. Edinburgh and Lothian has highest rents in Scotland with capital city rent averages £672…
Allen Walkey
UK annual house price growth slowed modestly in May according to Nationwide
Latest Nationwide House Price Index report – May 2018 released today headlines ‘Modest slowing in annual house price growth during May.’ The report reveals that annual house price growth slowed to 2.4% as prices fell 0.2% month-on-month. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK annual house price growth slowed modestly in…
Allen Walkey
Hometrack points to market conditions weakening in south eastern England.
Latest Hometrack UK Cities House Price Index report – April 2018 published today reveals that UK city house prices have grown by 4.9% over the last year. City house prices have increased 2.9% in the last three months compared to a 0.5% decline in 2017Q4 when price falls across London impacted headline growth. Large regional…
Allen Walkey
OnTheMarket’s latest milestone achievement of 8,500 offices
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, has announced that as of 25 May it has signed listing agreements with UK estate and letting agents with more than 8,500 offices. This increase of over 3,000 branches since Admission on 9 February represents growth of more than 54% in less than 4…
Allen Walkey
A healthy start to 2018 for Belvoir Lettings PLC
Belvoir Lettings PLC, the UK’s largest property franchise, issued a trading update ahead of the Group’s Annual General Meeting to be held at 11.30a.m. today. To read the Belvoir Lettings PLC trading update 29th May 2018 in full click here. Dorian Gonsalves, CEO, commented: “The Group has seen a healthy start to 2018 including increased…
Allen Walkey
April saw steady growth in mortgage lending and approvals according to UK Finance
Latest UK Finance – Household Finance Update – April 2018. Gross mortgage lending in April is estimated to have been £20.4bn, 13.3 per cent higher than a year earlier. The number of total mortgage approvals has also risen and is 11 per cent higher, this increase is primarily driven by remortagage approvals which were almost…
Allen Walkey
Rents in South West grow faster than elsewhere in England and Wales according to Your Move
Latest Your Move – England and Wales Rental Tracker – April 2018 data – May 2018 report headlines ‘South West sees fastest rising rents’. The report reveals: South West rents up 3% in a year, London still remains most expensive place to rent. Average property in capital let for £1,275 a month, well above England…
Allen Walkey
Number of homes available for private rent falls in England
Private sector tenants face being squeezed as the number of homes to rent falls says the RLA in a recent press release 24th May 2018. The RLA states: According to data published today, the number of homes for private rent in England fell by 46,000 between March 2016 and March 2017. This was the first…
Allen Walkey
Record Performance and Growth reported by ZPG
ZPG released on 23rd May 2018 their half-year results for the six months ended 31 March 2018. Business highlights Revenue up by 33% to £156.9 million and Adjusted EBITDA up by 41% to £63.4 million Like-for-like (Like-for-like growth includes a full six months trading from all acquisitions in both periods) revenue and Adjusted EBITDA increased…
Allen Walkey
UK house prices grew by 4.2% in the year to March 2018
UK House Price Index – March 2018 published yesterday 23rd May 2018 from HM Land Registry. In England, the March data shows on average, house prices have fallen by 0.3% since February 2018. The annual price rise of 4% takes the average property value to £240,949. Wales shows, on average, house prices have fallen by…
Allen Walkey