research Archives » PRSupdate Private Rented Sector Update

The Mayor’s London Rental Standard puts landlords and tenants in the driving seat

May 7, 2013 by Guest Author Leave a Comment

Richard Blakeway – Deputy Mayor for Housing, Land and Property

There has been considerable comment on the phenomenal growth in private renting. Yet this isn’t news to Londoners. Ten years ago, when the housing market was more buoyant and banks were falling over each other to issue 100% mortgages, private renting doubled. Today a quarter of all Londoners are private renters.

It is not just the overall number that has changed. London’s private renters now include over 200,000 families with children, the average age of renters is rising, and the level of mobility in to, out of and within the sector is declining rapidly. What we are witnessing is a fundamental shift in demographics in a tenure that was once dominated by young, single, mobile people.

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Filed under Guest Posts Tagged with blog, business, england, government, home, housing, investment, landlord, law, lettings, life, local, london, Private Rented Sector, property, prs, regulation, rent, research

HomeLet release their March 2013 Rental Index

April 29, 2013 by Michael Oakes Leave a Comment

Homelet

Please find a link to the March 2013 HomeLet Rental Index.

The HomeLet Rental Index is based on agreed rental prices rather than the prices that are advertised on property portals. The Rental Index provides a wide range of information and a unique insight into the performance of the Private Rented Sector.

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RICS Lettings Survey 2013 Results

April 8, 2013 by Michael Oakes Leave a Comment

Image: RICS

The Royal Institution of Chartered Surveyors (RICS) has released data from their UK survey on the state of the residential lettings market. The survey collected information on tenant demand, rents and expectations as well as insight from individuals within the industry.

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An OFT report on the Private Rented Sector

February 16, 2013 by Kelly Smith 1 Comment

Image: Office Of Fair Trading

The OFT report acknowledges that the Private Rented Sector is a significant part of the UK economy, but has stated that it generates a high level of complaints.

Due to the number of complaints it has received the OFT carried out a review of the Private Rented Sector and put forward ways that the issues that repeatedly appear could be tackled.

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Filed under PRS News Tagged with blog, customer service, england, housing, landlord, letting agents, lettings, Office of Fair Trading, Private Rented Sector, prs, regulation, research, UK

Young Group’s response to Private Rented Sector call for evidence

January 20, 2013 by Neil Young Leave a Comment

Young Group’s Private Rented Sector call for evidence reply

The Department of Communities and Local Government (DCLG) Select committee invited submissions from interested parties on Private Rented Sector (PRS) quality, regulation, levels of rent along with other important topics.

As a company with a vested interest in the PRS, Young Group wanted to make sure that its voice was heard.

Below is our full submission to the DCLG which highlights our stance on the issues raised in the call for evidence.

Have your say on London’s Private Rented Sector

November 20, 2012 by Michael Oakes Leave a Comment

Image: Houses of Parliament

The Greater London Authority wants to hear from both tenants and landlords as part of its city-wide consultation on the Private Rented Sector.

What are your views? What should change to make London’s private rented sector better?

Submissions to the consultation can be sent to: housingandregencommittee@london.gov.uk

More information can be found at: www.london.gov.uk/private-rented-sector

Filed under Government Tagged with blog, city, england, government, landlord, lettings, london, Private Rented Sector, prs, research

Young Index Report Q3 2012

November 4, 2012 by Neil Young 1 Comment

Young Index Q3 2012

Each quarter, through Young Index, Young Group polls investor sentiment among 500 of its Private Rented Sector (PRS) investment clients who hold UK property assets.

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Filed under Research, Young Index Tagged with blog, england, lettings, london, Private Rented Sector, research, statistics, young index

Young Index: PRS Investor Sentiment, Q3 2012 – Snapshot

November 1, 2012 by Michael Oakes 1 Comment

Each quarter, through Young Index, Young Group polls investor sentiment among 500 of its Private Rented Sector (PRS) investment clients who hold UK property assets. Below is a preview of the headline results:

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Filed under Research, Young Index Tagged with blog, landlord, london, Private Rented Sector, prs, research, statistics, young group, young index, young london

Housing supply and current issues in the Private Rented Sector

October 30, 2012 by Guest Author Leave a Comment

Peter Bolton King

Lack of mortgage finance availability remains the biggest issue in the market alongside uncertainty in the national economy and instability in the Eurozone.

First time buyers and new homes are the lifeblood of the market but measures are needed to address the condition of existing stock, not just get new build sites ‘shovel ready’, and to get the whole market moving across all tenures.

Many first time buyers are facing the prospect of a property ladder with no rungs. With lenders requiring such hefty deposits and affordable mortgage deals out of reach for most, a generation of potential homeowners are facing an uphill struggle. Without allowing more first time buyers to enter the market, chains will continue to stall and transaction levels will stagnate.

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National Statistician calls for changes in the PRS

October 4, 2012 by Michael Oakes Leave a Comment

Image: Increased Returns

A review by the national statistician has concluded that there should be official statistics on the rent levels in the Private Rented Sector (PRS) to aid policy makers.

During the second stage of the UK Statistics Authority review of housing market data it has been found that there is an absence of reliable data on the PRS. The review has recommended that this should be rectified to help provide greater transparency of the sector as well as help government policy makers understand the impact of their reforms.

Private Sector rents have become a controversial topic among the political classes since Prime Minister David Cameron told parliament they were falling as a result of the current governments welfare reforms. This is a statement that has been repeated by other senior ministers, despite figures produced by Inside Housing, and other bodies, suggesting that rents are actually static or rising.

The latest stage of the review also calls for housing market statistics to be made more accessible because, in some way, the housing market affects everyone in the UK.

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