Landlord press review

Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: The stamp duty holiday has ‘turbocharged the property market’; Lack of new properties to let putting pressure on prospective tenants; The UK’s property bubble – what will happen next?; Record jump for UK mortgage lending after tax break extended; Rents fall in London as pandemic exodus continues; 10 things you need to know before thinking of buying a new home… Happy reading and… renting!

The market

The stamp duty holiday has ‘turbocharged the property market’

The number of residential properties sold in the UK hit a record high in March as buyers and sellers attempted to complete deals before the end of the stamp duty holiday.
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House prices in the UK are still surging – here’s why it’ll probably continue

The latest UK house price data shows no letup in the country’s booming property market, with the biggest yearly rise since 2014. And there’s no end in sight yet.
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The house price boom is all about what people can afford to pay

Houses may look very expensive, but ultra-low interest rates mean that on a monthly payment basis, they cost an awful lot less than they used to. How long can that last?
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New research shows sharp spike in first-time buyers as consumers capitalise on lockdown savings

As millions look forward to purchasing their first property in 2021 thanks to the government’s newly launched mortgage guarantee scheme and stamp duty holiday, no longer is the bank of mum and dad the go-to for a deposit.
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Lack of new properties to let putting pressure on prospective tenants

A slowdown in the supply of new homes in April has seen price growth accelerate across the UK. Meanwhile, a lack of new properties to let has also put pressure on prospective renters.
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The UK’s property bubble – what will happen next?

With the property market booming and the latest data showing double digit growth many pundits are predicting a house price crash is on the horizon. It is generally regarded as a truism that the UK is embroiled in a love affair with property.
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Provincial house prices continue to soar as London gets left behind

A host of figures out this week confirm double-digit house-price rises in almost every area of the country bar one – London.
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Battle is on for cheap mortgage deals as property gets another boost

The latest scheme to give property buyers a step up now offers lending for just a 5 per cent deposit. Covid-19 obliterated high loan-to-value borrowing, seen as risky in the current economic climate.
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Soaring house prices and cheap credit are creating the wrong sort of growth

The Bank of England – despite evidence that the economy is emerging more rapidly from its deep winter freeze than expected – will keep official interest rates at 0.1%.
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Record jump for UK mortgage lending after tax break extended

Mortgage borrowing rose by a net 11.8 billion pounds ($16.4 billion) in March, the biggest increase since the series began in April 1993. British lenders approved 82,735 mortgages in March, down by about 5,000 from February.
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Mortgage product choice climbs back toward pre-pandemic levels

Mortgage options for borrowers increased for the seventh consecutive month with the 95% loan-to-value (LTV) market receiving a healthy injection of deals.
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Copeland most affordable UK rental location

In Copeland, the average annual rent of £6,101, equates to just 14% of the average annual salary, which is £43,463. Allerdale is the second most affordable location to privately rent in England, where annual rental prices equated to 17.8% of the average salary.
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Rents fall in London as pandemic exodus continues

Rooms for rent in west London were among areas that dragged down the average rental price in the UK in the first quarter of 2021, as the pandemic continues to act as a weight on the market.
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11 Kent towns with cheap rent and ranked among UK’s best places to live

Everyone knows renters have to swim against the tide when it comes to the property market. Prices continue to rise faster than average monthly mortgage payments, going up by some 6.8 per cent last year outside of London.
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As lockdowns ease, commercial property landlords look at ways to tackle unpaid rent bills

Property giants have proposed there is six months breathing space for landlords and retail and hospitality tenants to settle billions of pounds worth of pandemic-related rent arrears. However, while the real estate sector hopes to offer more time for resolving historic bills, it wants new rents to be paid on time when a moratorium on business evictions ends.
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Outlook for private rental sector ‘unusually uncertain’

The outlook for the private rental market is “unusually uncertain” following nearly two decades of robust growth, according to a report. The rental market review said that as the market moves out of the pandemic, the future is clouded by economic uncertainty and shifts in housing preferences.
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Strong demand, amid constrained supply, underpins rental growth

As the UK emerges from lockdown, renter demand is up 26% in central Edinburgh, 12% in central Leeds, 7% in inner London and 5% in central Manchester in the month since Easter.
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Scottish landlords ‘frustrated’ by lack of government support

Hundreds of landlords and property professionals have hit out at a lack of Scottish Government support as a range of measures are called on to help protect this critical part of the nation’s housing stock.
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Buckingham Palace ‘would cost more than £2.5m to rent each month’

The London palace, which is the main home for the Queen most of the time, would set a renter back an estimated £2,550,018 each month were it to come onto the market.
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Boris Johnson ‘planning to rent out London home’ amid flat refurbishment row

Boris Johnson is planning to rent out his £1.2million south London home following backlash over the refurbishment of his Downing Street flat, according to reports. It is understood the Prime Minister has remortgaged the townhouse he purchased with his fiancée Carrie Symonds in Camberwell, south London.
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10 things you need to know before thinking of buying a new home

Purchasing a new home is always going to be one of the biggest money-moves anyone ever makes, so it’s important to be fully informed and prepared when going into it.
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The Pros And Cons Of Buying A House

The British culture is very much of the opinion that owning a house is the best thing anyone can do. We grow up with this idea implanted in our minds, and it’s something many young — and plenty of older — people are keen to do. The idea of ‘getting on the property ladder’ occupies a lot of our time, and we sacrifice a lot for the privilege of having a home to call our own.
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8 ways to turn your home into a money-making holiday cottage

Transform your property into a money-making holiday cottage just in time for staycation season. From tidying up to investing in luxury features, there are plenty of tweaks to help you rent out your space — and make some extra cash, too.
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