Rents projected to rise significantly says ARLA

December 1, 2016

ARLA in their press release yesterday warned that rents are projected to rise significantly with the introduction of Letting Agent fees and Tax changes that will come into effect soon, they state in their October Private Rental Sector (PRS) report that supply of rental properties and demand from tenants dropped in October.

David Cox, Managing Director, Association of Residential Letting Agents (ARLA), said: _Just when rents were starting to stabilise, the Chancellor has thrown the biggest curve ball, meaning that rents will unpreventably rise when the tax changes and letting fees ban come into effect.

_In terms of supply and demand, this month_s findings reflect seasonal expectations and show the market is slowing in the final quarter. With fewer properties available to rent and a drop in the number of prospective tenants registering interest, tenants tend to stay in their current properties until the New Year arrives._

Readthe ARLA press release in full click here

 

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker 10/01/25

Commenting on the rise in UK borrowing costs and the potential impact on mortgage rates, Rightmove’s expert Matt Smith says: “The short term impact is that mortgage rates are likely to rise, as the cost of borrowing increases impacts lenders. However, this is unlikely to be significant and certainly not completely unexpected. Looking a bit…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 10/01/25

Commenting on the rise in UK borrowing costs and the potential impact on mortgage rates, Rightmove’s expert Matt Smith says: “The short term impact is that mortgage rates are likely to rise, as the cost of borrowing increases impacts lenders. However, this is unlikely to be significant and certainly not completely unexpected. Looking a bit…
Read More →
Breaking News

Access to Rented Housing Will Be Harder for Tenants Most In Need

Responding to amendments tabled to the Renters’ Rights Bill by the Government to restrict the amount of rent that can be sought in advance, Chris Norris, Policy Director for the National Residential Landlords Association, said: “Restricting rent in advance, combined with freezing housing benefit rates and not enough rental housing to meet demand is creating…
Read More →
Home and Living

Top Reasons to Hire JD Movers in Melbourne

Moving can feel like an awkward dance—one misstep, and you’re tangled up in a mess of cardboard and bubble wrap. We all know moving is stressful. Moving can unravel even the most zen among us, whether in a studio apartment or a four-bedroom McMansion. In such a situation, hiring a moving company can ease the…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove launches Selling Sunderland with Charlotte Crosby and local agents

Rightmove, the UK’s largest property website, has launched Selling Sunderland, a playful parody of glamorous property TV shows, celebrating Sunderland’s charm and local agent expertise. The campaign features Sunderland favourite TV personality Charlotte Crosby, who teams up with local agents to showcase the city’s unique appeal. Together, they guide prospective buyers through three distinctive properties, blending…
Read More →
Breaking News

Halifax House Price Index December 2024

House prices in December 2024 were 3.3% higher than the same month a year earlier.   House prices decreased by -0.2% in December Annually, property prices are up +3.3% (vs +4.7% last month) Typical property now costs £297,166 Northern Ireland maintains the strongest UK annual house price growth   Amanda Bryden, Head of Mortgages, Halifax,…
Read More →