Is the UK turning into a rental economy?
Despite the fact that the first choice for many in the UK property market is to buy a property for the future, there are now signs that more and more people are looking to rent in the short to medium term. The Chartered Institute of Housing has today issued a report suggesting that those on incomes between £12,000 and £25,000 are stuck in between being eligible for social housing and been able to afford their own property.
In what has the potential to become a self-fulfilling prophecy, the fewer people who can afford to acquire their own property the more pressure this will place on the rental market and the more properties will come under the "buy to let" banner. This is despite the fact that many buy-to-let participants have fallen by the wayside after the credit crunch and the worldwide recession. However, there is also the UK phenomenon of a housing shortage which has been ongoing for decades and many people believe is one of the reasons why UK property is so expensive.
Despite the fact that the UK government recently announced a number of incentives for local authorities to build affordable housing this will take some time to kick in and more and more people will be forced to look at renting property before acquiring their own property in years to come.
UK rental market has shrunk
While conditions are still difficult in the UK property sector, rental sector and general economy, the massive boom in residential buy to let property in the UK appears to be coming to an end. Information from the Royal institution of Chartered Surveyors has confirmed that the number of rental properties on the market has now shrunk to levels not seen since 1998, signalling the end of a massive bo...Read More
Robert Bonnier - He came, he saw, he lost the lot!
While Robert Bonnier is perhaps better known for building up the Scoot empire during the dotcom boom and making literally millions for himself, he has a track record of ups and down which few investors would want!
Over the years, as well as the Scoot investment, he has been very active in an array of dotcom stocks, increasing his portfolio substantially with the boom seemingly set t...
Rent prices increase 3.4%
25/01/2015 Rent prices in England and Wales increased by 3.4% over 2015, according to figures from estate agents Your Move and Reeds Rain. The figures show that the cost to rent a home has increased to its highest level ever in some regions, with the average cost of renting now at £794. The largest increase over the year was in the East of England where rents increase to an average of £83...Read More
How Safe Is Your House Valuation?
As the UK property sector comes under pressure from a whole raft of reports claiming that the sector is ‘doomed’, how safe is the valuation of your house?
Many home owners who are edging ever closer to negative equity and financial troubles are looking to obtain an up to date valuation of their homes for their calculations. However, there is a growing concern that with...
Scottish government injects £45 million into low-cost homes
The Scottish government has today announced plans to inject £45 million into a program which will construct up to 800 new low-cost homes across Scotland. The money is made up of a £31 million injection from the previous budget and £14 million which has been freed up by the Scottish government from its existing housing program. So will this make a difference? There is a definitive lack of aff...Read More