Rents continue to rise rapidly in every English region, Scotland and Wales according to the latest market snapshot from the respected website Home.
It says that overall, the mix-adjusted average annualised rise for the UK stands at 11.9 per cent, while rent inflation in the East Midlands stands at an eye-watering 17.8 per cent.
It says: “Mandatory licensing schemes, energy performance upgrades and rising mortgage rates will only make the situation worse for tenants, as landlords either quit or – more likely – raise rents to cope with their much-increased costs.”
The current leaders in London asking rents are the boroughs of Bexley and Hillingdon: these are up 40 per cent and 31 per cent, annually respectively.
You can see the full August report - which majors on the sales market - here.
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East Midlands rents will continue to rise as Nottingham City Council brings in a new SL scheme on 1st Dec. adding c.3.5% to rents before any other costs are considered.
Hello, very good assessment of what’s happening in general but you forgot something the main cause of all this Scrapping Section 21.
How can you possibly do an Article on Renting without referring to Mr Michael Gove Housing Secretary and THE RENTERS REFORM BILL the main reason and cause of all this.
Such hypocrisy pretending he is helping Tenants, he is certainly their knight in shining armour (not) driving up their Rents 30% they must be chuffed with him.
All my rents are below market value and some haven’t increased in years call me a fool if you like it doesn’t matter without S 21 its not a business.
My sentiments entirely, Michael.
You are quite right that it most certainly ceases to be a viable business when ownership of the business is being transferred to the tenants.
You’re not a fool, but if Labour do introduce a rent increase ban and evictions ban, you may regret your charity. I know they said they wouldn’t 😂😂 but we all know how much that is worth 🫤🫤
I don't trust the Conservatives any more than I trust Labour.
Simon. I know you are right but say if we had a 3% rent cap 10 years ago it would be almost mandatory and my rents would now be 30% higher and a lot more aggregated.
Labour wouldn’t have got away with the con trick Conservative pulled on us as we thought they were better for small Business and reward those who work hard to better themselves and contribute more to Society,
It would appear that all of the political parties have one common enemy, the private landlord. Successive UK governments have failed and are still failing to provide enough affordable homes for the forever growing need of the population, at the same time much of the existing stocks are old, inefficient, and less face it not fit for purpose.
Private Landlords need to be warned now, whichever party holds power after the next election the onslaught against private landlords will continue, bringing in even more draconian rules aimed directly at the private lettings section, blaming us for all of the Country's woes rather than taking responsibility for the huge errors that successive governments have made. In my opinion the biggest decision that Landlords need to make in the near future is when to sell up and get out of the industry and put their money elsewhere before this “Purple Patch” turns into a never ending black hole.
So isn’t that a surprise- ERM NOT!
Sloppy journalism. Ignoring one whole region of the UK..................Northern Ireland
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