Countless homes across the country have recently been plighted by flooding, with many privately owned and buy to let properties being left inhabitable or in need of thousands of pounds worth of restoration. However, even though these issues are extremely serious, they are only short term compared to the effects the flooding will have on the property and private rental markets in the future.
In order to find out more on how the recent flooding will affect landlords as well as homeowners in the next few months, PropertyQuoteDirect has been in touch with numerous estate and letting agents across the country for professional advice. Mike Kelly, from Runnymede Lettings in Runnymede, was just one agent kind enough to talk to us, and provided some very interesting insight into the property and private rental sectors. Continue reading
It’s no secret that over the past few years the private rental market has boomed, which means that good quality, affordable properties are now usually only on the market for a matter of days before they are let out. Furthermore, landlords have been benefitting from a secure form of income, as the rising demand has led to rent prices increasing and tenants taking more care of their properties than in previous times. Continue reading
Over the course of last year we saw numerous reports stating that landlords were becoming less inclined to let to DSS tenants due to the changes in the private rental sector generated by the welfare reforms. The introduction of Universal Credit and the spare room subsidy particularly concerned landlords as it meant they would no longer directly receive housing benefits and tenants could see a reduction of their housing benefits if thought to have a ‘spare’ room. Continue reading
Christmas is an expensive time of year for most people, which is why having a good grasp on your finances is essential; however it seems as though some landlords are not taking managing their finances seriously enough. We have already seen reports concerning landlords who are failing to pay the right amount of tax or set up contingency funds to protect them should the worst happen. Furthermore, many articles claim that it’s not just the landlords that suffer from financial mismanagement but tenants too. Continue reading
There seems to be a number of conflicting articles in the news right now about the state of the property market. Since the introduction of the second phase of the Help to Buy scheme – where properties worth up to £600,000 were to be included – the property market has seen a boom in demand. However, according to the property website RightMove, asking prices in November dropped by around 2.4 per cent. Continue reading
Over the past few years the number of people that rent properties instead of buying them has increased rapidly as many people throughout the UK can no longer afford to save for a deposit for a mortgage. Since the start of the recession the cost of living has increased while wages have remained mainly stagnant, meaning that the prospect of saving enough money for a mortgage is unachievable for many. Continue reading
Many property analysts had high hopes for 2013 in terms of the property market with many predicting a steady recovery. So far what has happened is a rather fast recovery which on the surface seems like a good thing but could we be heading for another property boom?
Rightmove started the year with a prediction of a two per cent increase in property prices. Then in July they changed their prediction to a four per cent increase. Now just two months after their latest change they have tripled their forecast from the original two per cent. The property website advertise over 800,000 properties around the country and they believe that by the end of the year property prices in the UK will have increased by six per cent compared with last year. Continue reading
Data that has been revealed by Registers Scotland shows that the amount of sales in Scotland has leapt by 8.1% between the months of April and June. Not only are sales increasing so is the value of the properties being sold in some areas. This is due to the increased demand from buyers.
According to the data the biggest increase was seen in East Renfrewshire which is an affluent area with properties now selling for £211,899. Having said this, the average price for properties in Scotland have fallen slightly by 0.3% Continue reading
The government has introduced a number of schemes to help first time buyers onto the property ladder and it has been working. The amount of properties being sold is increasing as well as the amount of mortgage applications being approved.
Of course there are always going to be streets with expensive price tags which do make them off limits to the average family. If you are looking to buy a home in London, you will need £2 million or above otherwise you are unlikely to be able to find a property in some of the most expensive roads. Continue reading
Since Universal Credit was introduced as part of the welfare reforms a few months ago there have been numerous reports from private landlords and housing associations claiming that their businesses and their tenants are suffering as a result. Understandably, many are concerned that their tenants will fall into rent arrears which will lead them having to claim on their rent guarantee insurance or have to cover the costs out of their own income. Continue reading