Rents in London have dropped by between 10 and 15 per cent as fewer people are willing or able to move to the capital in the light of the Coronavirus crisis and its fallout. The warning comes from London-focussed agency Chestertons, which says that as a result increasing numbers of landlords...
Research shows that half of those in the private rental sector are aged 16 to 34, making the lettings industry vulnerable to large scale unemployment if it hits this demographic as the pandemic evolves. For example, nearly half of the 2.8m-plus retail workers in the UK are aged between 16 to...
A new survey of COVID-19 related rental arrears shows that fewer than five per cent of tenants are behind with their rent. The survey was the latest conducted by Belvoir, across all four of its brands. The five per cent figure now compares to pre-lockdown arrears of two per cent. “We have been...
Propertymark says it’s continuing to talk to government departments about making the furlough scheme flexible enough to meet agency industry needs. A statement from the ARLA and NAEA Propertymark team says it’s recently discussed with government how agency and supplier employers would like to move their staff in and out of...
The Deposit Protection Service and safeagent (formerly NALS) have created a free, online course showing best practice in starting tenancies. The new interactive e-module Starting a residential tenancy covers tenancies in normal circumstances and includes: - Tenancy agreements; - Receiving and protecting deposits; - Check-in and check-out inventories; - What makes a good tenancy agreement; [...]
Emigrating abroad has always been a popular choice for Brits wanting to relocate to sunnier climes for a better quality of life. But, as the UK eases out of lockdown in a phased three-step plan, many things have been left rather open-ended, with still more questions than answers regarding the...
A leading private wealth firm has called on the government to take urgent action to help encourage investment into much-needed senior living facilities following the Covid-19 outbreak. Boodle Hatfield says the coronavirus crisis has highlighted the need for an increased supply of lower-density housing for those aged 65 and above. High...
Private landlords in London have been forced to drop rents by up to 15% following a significant increase in the number of empty properties on the market, according to Chestertons. With fewer corporate relocations and overseas students looking for accommodation, as well as a growing number of people concerned about job security,...
Many buy-to-let landlords are heavily exposed to young renters most at risk of losing their job, according to new research from flatfair and Rowan Asset Management. With almost half of all renters in the UK aged between 16 to 34, there is widespread concern that many young people face falling into...
Patrick Cannon, one of the UK’s leading tax barristers, explains why some property investors may be overpaying stamp duty charges. Buying a property is, clearly, a multifaceted transaction. With solicitors to chase, surveyors to organise and mortgage lenders to manage, it is easy to overlook stamp duty – which can lead...