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. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Home and Living

How homeowners can fight back against rising energy bills

New research from Yopa warns that millions of homeowners are set to be hit with a 14% jump in energy bills this summer, wiping out recent savings and piling fresh pressure on household finances. In response, Yopa has analysed which home improvements are most effective at reducing energy use, looking at both the typical savings delivered…
Read More →
Breaking News

Homes selling as fast as last year

First time buyers in outer London hit hardest as higher borrowing costs and  high stamp duty costs weigh on sales times   The average time to sell a home is just 1 day longer than last year at 33 days, despite higher mortgage rates and 2 months of conflict in the Middle East However, areas…
Read More →
Estate Agent Talk

How to Pick the Ideal Utilities for your Business

Sorting out utilities might not be the most exciting part of running a business, but it is one of those things that quietly affects everything else. Whether it is your electricity, gas, water or internet, these services keep your business moving day to day. Getting them right can help you stay in control of costs…
Read More →
Letting Agent Talk

Advice for London landlords and tenants ahead of the Renters’ Rights Act implementation

Phase one of the Renters’ Rights Act (RRA) comes into force on 1 May 2026, and with it brings about the most significant overhaul of the private rental sector in a generation. While the Act will see new responsibilities introduced, it will also offer an opportunity for landlords to strengthen their practices with a clear…
Read More →
Estate Agent Talk

Budget-friendly ways to boost your chances of a successful spring house sale

With many households feeling the pressure of changing global economic conditions, tighter finances, and the high costs associated with moving, such as Stamp Duty, legal fees and removals, selling a home can currently feel like challenge. At the same time, spring traditionally brings a surge in buyer activity. Longer days and better weather tend to encourage more viewings,…
Read More →
Letting Agent Talk

Expert Reacts To Renters’ Rights Act Ahead of Changes This Week

The Renters’ Rights Act comes into force this week (1st May), introducing major reforms to tenancy structures, eviction rules, and tenant protections across England. The changes will reshape how landlords manage properties and how tenants experience private renting, with significant implications for student private rentals and the wider rental market. Ahead of implementation, Owen Dixon,…
Read More →