Following the UK General Election, Labour has taken leadership of the UK Government, bringing new key positions, including the Secretary of State and Minister for the Department of Levelling Up, Housing and Communities. Letting agents should stay informed about the party’s immediate and future housing priorities.
Ladybird Living – Your London Estate Agent
Category: Economy and real-estate
Political Party Promises for Key Policy Areas According to Letting Agents
Back [greeting] Political Party Promises for Key Policy Areas According to Letting Agents Landlords and lettings agents believe that house-building policies are important when determining who to vote for. Here’s a summary of what each political party promises in critical areas such as cost of living, the NHS, and taxes. Key Policy Areas for Letting… Continue reading Political Party Promises for Key Policy Areas According to Letting Agents
Changes landlords and letting agents should consider in April 2024
As of April 2nd, 2024, the new tax year commences, bringing forth alterations in the VAT threshold and Capital Gains Tax. Here’s what landlords and letting agents should be aware of.
How are elevated rental costs impacting tenant affordability and choices?
The data indicates that there has been minimal change in recent months; rents remain steep, and available rental properties are scarce. According to the “State of the Lettings Industry 2023” report from Goodlord and Vouch, 76% of tenants have encountered challenges in securing a rental property. Considering this, what emerging patterns can be observed?
10% year-on-year increase in the average cost of rent in August 2023
The August Rental Index by Goodlord revealed that the cost of rent is up 10% year-on-year. The summer season is the busiest time with tenants continuing to face soaring prices during this season. Void periods in August continued to remain much lower than year to date averages.
Tenants on high salaries asked to provide guarantors
Tenants on salaries of £25,000 per year or more are being asked to provide a guarantor to secure a rental property. This was according to data by Goodlord which looked at tenancies between January 2020 and June 2023. This is due to high demand, lack of supply and inflation increasing rental prices.
Base rate increased to 4.5% – How will it affect property owners?
Back [greeting] Base rate increased to 4.5% – How will it affect property owners? The base rate has increased from 4.25% to 4.5%. The base rate is important because it impacts mortgage interest payments for property owners. A higher base rate means that property owners must pay more to cover interest rate costs. The… Continue reading Base rate increased to 4.5% – How will it affect property owners?