Rent arrears fall as market improves
The National Landlords Association has this week issued a statement regarding rent arrears in the UK rental market. While there is still a significant number of tenants owing rent arrears, with a figure of around 20% quoted by the association for the second quarter of 2010, this is well down on the 24.5% during the first quarter of 2010. So is this a turning point for the UK property market?
When you also take into account that the average rent arrears has fallen from over £1000 to £800 between the first quarter of 2010 and the second quarter, the signs are beginning to improve. However, despite the fact that there are some positive factors beginning to kick in and assist the UK property market there is still growing concern about the second half of 2010.
Whether we will see a differential between the overall property market and the rental market remains to be seen because if more and more buyers are holding off on purchases then perhaps they may well look to rent in the short-term. If this is the situation we could see a softening of UK property prices while rents may begin to increase slightly. However, there are still some concerns about the overall UK economy which is currently showing signs of strength but may well suffer in the coming months because of policies introduced by the government of the day.
Share this..
Related stories
Donald Trump Talks Up UK Property
Like a knight on his charger the infamous Donald Trump is riding to the rescue of the UK government suggesting that UK property will not suffer the same fate as US property where prices have collapsed over the last 12 months. Trump, who is in the process of finalising a £1 billion golfing development in Scotland, believes that the UK property market has not been over developed during the last de...
Read MoreIs there demand for UK property?
Even though we have seen signs that UK property prices are starting to firm up, although some reports suggest there are and some reports suggest they are not, there is no doubt there is interest from UK consumers and UK investors. However, whether this interest is purely "bottom fishing", or a return to former genuine interest levels remains to be seen.
While there is no doubt that...
House prices have fallen year-on-year
House prices during April are now on average one per cent less than they were 12 months ago, new data has shown. According to Nationwide's monthly house price survey, the average value of a property now stands at £178,555. This is some £1,759 less than it has been during April last year. The year on year decline was fuelled by 1.1 per cent fall during April this year and a drop of 0.7 per cent i...
Read MoreShould we believe the Nationwide forecast for the property sector?
Despite the fact that many analysts and economists are downbeat on the prospects for the UK economy in 2010, today's Nationwide report on UK property sector seems to offer a very different opinion of the prospects for the UK. The report suggests that UK property prices will increase by around 10% in 2010 which is something many people do not agree with. So who should we believe? There is no dou...
Read MoreHomeowners encouraged to make security improvements
Homeowners have been advised to improve security measures to protect their homes from burglars.Virgin Money has suggested that consumers invest in an intruder alarm and ensure they lock all doors and windows when leaving their property unattended.As well as choosing an adequate home insurance policy, the company advised homeowners to install a safe and avoid leaving valuable items on view.The advi...
Read More