Increasing Build-to-Rent market spells good news for tenants
While there’s plenty of worrying news about the supply of private rental sector properties in the buy-to-let industry, a recent report from global property firm Knight Frank has some good news for tenants. According to its latest London residential development survey for the second quarter, the number of Build-to-Rent developments is on the rise yet again.
London Mayor confirms his commitment to providing the homes Londoners need
London’s Mayor, Sadiq Khan further reinforced his commitment to building more affordable homes across London at the inaugural Homes for Londoners conference. Taking place in Newham earlier in October, spokespeople from both the private and public sectors gathered together to help discuss London’s property needs and how community groups and development companies can work together to help ensure the homes that are needed in the city are built.
Would Manchester rent controls mean fewer rental homes in the city?
Following in-depth research into housing in Manchester and how affordable – or not - it is for the young people who live there, a new report has identified a number of ways to help young people afford to live in the city, with a form of rent control among the recommendations. However, following the publication of the report, some concerns have been raised that any form of rent control could hurt the supply of private rental sector properties.
Over half a million families in England live in overcrowded conditions
A recent report has highlighted the UK’s still ongoing housing crisis as it shows that over 600,000 families in England are living in overcrowded conditions. A severe shortage of housing, particularly social housing, means that there are 96,000 more children who are living in an overcrowded home today, than there were a decade ago.
London rents seen rising further, despite already being out of reach for many
Two separate reports highlight that while London's property market is still subdued at best, the rental market remains healthy and rents area rising. However, even though rents are rising after being 'too low for too long' according to one report, another confirms what many of us already know; London rents remain unaffordable for over half of the population and will cost over half of a tenant's monthly earnings to afford.
ARLA advises tenants to walk out of letting agencies they suspect are breaking the law
London Trading Standards recently reported it has issued over £1 million in fines to letting agents in the city, for breaking the law on lettings regulations. Soon after that report highlighting wrongdoing by some London lettings agents, the Association of Residential Letting Agents (ARLA Propertymark) advised tenants that if they suspect a letting agency of breaking the law, they should walk straight out.