Latest Property News - Letting Agent Tips - Letting Agent Today
New PropTech integration ahead of AI-powered upgrade. Call for Renters Rights Bill to scrap Right To Rent. New PropTech product aims to help growing HMO sector. Estate Agent Today provides daily industry, Estate Agency, Property Market, Housing, Moving Home and Online Estate Agent News updates for the UK's letting agent community.
Rental growth still slowing in prime London as stock levels recover
1 day ago · In its snapshot for the end of October, is says average rents in prime London are 35.4% above their 2017-2019 (pre-pandemic) average, but in October annual rental growth slowed to 1.4%. There were 10.9% fewer lets agreed in October than a year earlier, but year-to-date lettings activity is around 4% ahead of where it was at the same point in 2023.
Tenants go for fixer-uppers to escape rental sector
2 days ago · Some 68% of tenants see fixer-uppers as a more affordable route to property ownership, with an average 12% discount on these homes. The biggest motivator for renters wanting to purchase a fixer-upper is the opportunity to buy at a lower price (73%). The average asking price of a fixer-upper home is £327,224, which is 12% (£44,634) lower than ...
Rents - how will they change by 2027? - Letting Agent Today
4 days ago · Looking ahead to 2025 and beyond, rental growth is expected to continue softening, but remain above both house price growth and inflation in the long term. We’re predicting rents to rise 4.5% in 2025, followed by 4.0% in both 2026 and 2027. This trajectory is driven by the continued squeeze on landlords’ profits due to higher mortgage and ...
Three-and-a-half year low for central London rental growth
4 days ago · Three-and-a-half year low for central London rental growth. Average rents in prime central London increased by 1% in the year to October, which was the lowest rate of growth since July 2021. The equivalent rise in prime outer London was 2%, down from 8.3% in the same month last year. The figures come from Knight Frank, which says lower rental ...
Stamp duty hike leading to renegotiated prices on buy to lets
Nov 8, 2024 · A leading agent says the stamp duty hike on additional homes from 3% to 5% announced at the Budget has triggered renegotiations on prices of homes on sale. Jeremy Leaf, the north London agent and former RICS residential chairman, says: “Worries about the Budget did create some uncertainty among our buyers and sellers but many pressed the ...
Breaking News Archives - Letting Agent Today
2 days ago · Agent secures instruction to let prestigious new scheme. Written by: Graham Norwood. A £101m scheme at St Pancras has flats to let starting at £2,400 pcm. ... 13th November 2024.
RICS says lettings optimism rising despite supply-demand mismatch
The latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey shows rental demand continuing to grow and outstrip supply. September saw 22% of respondents showing growing demand, but a further drop in properties listed for rent, with a 29% retreat. RICS says this trend is further influenced by some landlords listing their ...
Record rents as lettings sector braces for Budget impact
Average advertised rents outside London hit a 19 th consecutive quarterly record of £1,344 per calendar month (pcm), says Rightmove. This was up 5.2% from last year, although this is the slowest rate of growth since 2021. London rents also hit a new record at £2,694 pcm, 2.5% higher than last year (£2,627 pcm) The portal says the balance ...
Rent hikes still high, but first sign of a weaker market emerges
Rents across England remained high in September – breaking the £1,400 barrier for the third month in a row – according to PropTech firm Goodlord. 2024 rents continue to outpace their year-on-year averages, with September prices up by 5.3%. The average cost of a new rental property in England stood at £1,417 in September, up by more than ...