Operating in the Private Rented Sector: An Introduction

Neil Young, CEO

Neil Young, CEO

Young Group’s latest biannual PRSupdate publication will be landing through letterboxes just in time for the Easter weekend.

The theme of this new PRSupdate publication is Operating In The Private Rented Sector; timely, since over the past six months my fellow Young Group Directors and I have seen a noticeable change in discussions about the Private Rented Sector (PRS).

No longer is the conversation dominated solely by talk of acquisition, whether land or existing stock.

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House building data (December quarter 2013)

House Building

House Building

The latest data on House Building in England, for December quarter 2013, have been released by the Office for National Statistics. The statistics in the release are figures on new build housing starts and completions throughout England.

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The Retreat: A Refinance Case Study

The Retreat

The Retreat

Following on from the Santander article looking at lending for the Private Rented Sector Young Group has put together a case study on the refinancing of its property portfolio in The Retreat.

The Retreat, completed in 2008 and located in the London Borough of Wandsworth, is a gated development consisting of 26 luxury flats with secure parking that provide the perfect combination of luxury, convenience and tranquillity.

The development completed in the middle of the financial crisis. A few of the units had been sold, however, we decided to complete on the remaining majority as we could see the long term growth potential, despite the uncertainty in the market at that time. Five years later this decision has been vindicated as Wansdworth has experienced an increase in property values of 16.4% over the past year.

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RICS UK Residential Market Survey for December 2013

RICS

Image: RICS

The December RICS Residential Market Survey shows expectations for sales and prices remain firmly entrenched in positive territory at both the three and twelve month time horizons.

Although the headline sales expectations net balance for the next three months actually slipped back to +58, this still represents one of the highest readings since the series began in 1998 and is consistent with further strong gains in transaction levels.

Meanwhile, the twelve month number climbed to a new all time high (albeit that the series has only been running since early 2012). For price expectations, both series moved higher in December with the three month reading reaching its best level since 1999.

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Is there a need for longer term tenancies in the PRS?

Jeremy Leaf

Jeremy Leaf

In October 2013, the Department of Communities & Local Government (CLG) issued their “Improving the Rented Housing Sector” report, otherwise known as the Tenants’ Charter.

The report demonstrates a commitment by the government to increase the quality and choice in the Private Rented Sector (PRS). It is hoped that it might also result in increased investment and improved consumer protection against rogue landlords and letting agents.

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Young Index Report Q4 2013

Young Index Report Q4 2013

Young Index Report Q4 2013

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

We’d like to thank everyone who took the time to share their opinion and the results from the latest Young Index report is now available.

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The Top Do’s and Don’ts of Residential Property Investment

Residential Property Investment

Residential Property Investment

Property as an investment class is a tried and tested proposition for stable, long-term wealth creation.  Add the effects of gearing (using mortgage finance), buying the right property in the right location at the right price and the returns regularly outperform all other asset classes.

So what’s the key for successful investment in residential property?  David Mackenzie, Young Group Director of Asset Management, shares his top 10 dos and don’ts for sound property investment.

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Moving Forward: London’s Private Rented Sector 2014

Neil Young, CEO

Neil Young, CEO

Every December, our guest authors take a break as I commandeer the final PRSupdate of the year. It gives me the chance to reflect on the previous 12 months and look forward to the challenges and opportunities that the year ahead might bring.

This time last year I summarised my thoughts on what 2013 would hold and, looking back, I’m pleased to report that the Private Rented Sector (PRS) has performed in line with expectations. London has seen continued rental improvements while our quarterly Young Index report shows that there is continued belief in London’s PRS with growing positive sentiment for the rest of the UK too.

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Jubilee line named as London’s favourite line

The Underground

The Underground

Surprisingly, to this commuter, the Jubilee line has been named as London’s favourite underground line, while the Northern line (one which I think is pretty good) has emerged as the most hated.

These (shocking) results are from a recent YouGov survey (of 1,500 Londoners) that was conducted for the Evening Standard.

The new-found popularity for the Jubilee line comes after years of it being much maligned for it’s constant closures and cancellations due to engineering works.

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Ten Top Tips when looking to rent in London

Richard Broer, Head of Property Consultants

Richard Broer, Head of Property Consultants

At Young London we don’t just want to get our customers into any old flat, we want them to find a property that they can truly call home. With this in mind we like to arm our customers with all the information they would need to make an informed decision and, most importantly, the correct one for them, even if it isn’t through us!

In my latest blog for PRSupdate I will be providing you with my ten top tips for what to take into account when looking to rent a property in London.

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Results: Young Index report Q3 2013

Young Index Q3 2013

Young Index Q3 2013

Young Index is a quarterly gauge of market sentiment within the Private Rented Sector that polls Young Group’s client base of over 1000 active investors and landlords who hold UK residential investment property.

Our Q3 2013 report found that London continues to lead the way for Private Rented Sector investment appetite, capital value outlook and future income expectation.

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Research shows that arrears and voids are falling

NLA

NLA

The National Landlords Association (NLA) quarterly research data shows that arrears have fallen to their lowest level for two years with only 39% of landlords having been affected by arrears in the last 12 months. This figure is down 9% on the 2010 levels.

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London Rental Standard launched

Boris Johnson

Boris Johnson

London Mayor, Boris Johnson, has published his London Rental Standard, which will push landlords and agents towards signing up for voluntary accreditation.

An agent that signs up must have Client Money Protection insurance and will also have to have transparency surrounding their fees.

Landlords and agents who are members of existing accreditation schemes will be ‘passported’ into the London Rental Standard while a major marketing campaign will attempt to encourage many more to sign up.

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Design: The Next Frontier for Private Rented Sector

Todd Lundgren AIA NCARBOver the past year, we’ve seen the Private Rented Sector (PRS) go from a much-discussed conference topic to a burgeoning reality for UK renters. Institutional investment is finally appearing on the horizon, and developers are taking a real look at the value of the PRS in their planned schemes.

Throughout this process, much time and energy has gone into the discussion of funding, while relatively little has been spent on the role of design in these developments. As the ink dries on some of the UK’s most ambitious PRS deals to date, now is the time to look at how design will play a critical role in the viability of this distinctive housing product.

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Young Index Q2 2013 Results

Young Index Q2 2013

Young Index Q2 2013

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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