Rental prices continue to increase ahead of tenant fee ban – Comments from industry

March 21, 2019
  • Private rental prices paid by tenants in the UK rose by 1.1% in the 12 months to February 2019, up from 1.0% in January 2019.
  • In England and Wales, private rental prices grew by 1.1%, while in Scotland private rental prices increased by 0.7% in the 12 months to February 2019.
  • London private rental prices rose by 0.2% in the 12 months to February 2019, up from 0.1% in January 2019.

Co-founder of ideal flatmate, Tom Gatzen, commented:

“Broadly speaking, the annual rate of rental growth across the UK remains at its most palatable for the last three years, however these consistent uplifts, regardless of how marginal, continue to put pressure on the already strained cost of living for tenants across the nation.

Rents remain higher than they were this time last year and so far in 2019, we’ve seen an uplift in the rate of growth which will no doubt continue as we approach the impending ban on tenant fees. As a result, the rental sector continues to strain under the overwhelming demand as many remain unable to make the financial leap to homeownership.

So far a consistent attack on the buy-to-let sector has only exacerbated the issue and with the Government now turning their focus on letting agents, it’s a certainty that we will see lost revenue passed onto tenants under various guises with rents continuing to increase as a result.”

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

How to secure a rented home if you used to pay rent up front

One change that has come into effect under the Renters’ Rights Act (RRA) is that landlords may no longer accept more than one month’s rent in advance of a tenancy beginning. Previously, there was no limit to how much rent tenants could pay up front to secure a property, which was particularly helpful in certain…
Read More →
Kerb appeal
Breaking News

Whoever Leads Britain Next Must Focus on Growth, Housing and Opportunity

Neil Louth – Group Executive Director, LRG and CEO, Acorn Group From my perspective, the question is less about who occupies Number 10 and more about what they do once they get there. Whether it is Sir Keir Starmer continuing in office, Andy Burnham emerging as a future challenger, or someone else entirely, the next…
Read More →
Breaking News

Biggest Shake-up of Home Buying in Decades

Families and first-time buyers set to save time, money, and stress under major changes to the homebuying process – supporting the next generation and those locked out by a slow and unfair system New sales packs to ensure buyers have the information they need upfront, earlier binding agreements, and digital tools will halve the number…
Read More →
Breaking News

More than half of home movers try D.AI.Y

but 38% say it gave them bad advice   The latest research from Yopa has found that 57% of home movers have engaged in D.AI.Y, to help maintain, repair and improve their homes, although more than a third have been given advice that later turned out to be incorrect. Yopa surveyed recent homebuyers to understand…
Read More →
Breaking News

Home buying journey is about to become unrecognisable

Claire Van der Zant, CEO of Novus Strategy, comments on the Government’s homebuying reform “The industry has been very vocal in its demands for mandation and this is the most impactful example yet of government intervention that will drive the change everyone has been asking for. What it will mean is the complete reorganisation of…
Read More →
bank of england interest rate
Breaking News

Bank of England holds interest rates at 3.75%

The Bank of England has announced its decision to hold the base rate at 3.75%. This decision comes as a result of wider economic uncertainty and inflation (CPI) increasing to 3.3% in March and remaining above the Bank’s 2.0% target. Here are some thoughts from within the property industry.   Matt Smith, Rightmove’s mortgage expert…
Read More →