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  • Property Yields

    Rents up 2.5% on this time last year



    Homelet’s Rental Index figures for January 2019 have been released.

    The headlines from this month’s report are:

    As the UK’s largest tenant referencing firm, HomeLet reference over 500,000 tenants every year. The HomeLet Rental Index provides the most comprehensive and up-to-date data on rental values in the UK.

    The trends reported within the HomeLet Rental Index are brand new tenancies, which were arranged in the most recent period, providing an in-depth insight into the lettings market.

    Commenting on this month’s data, Martin Totty, chief executive at HomeLet, said:

    “Positively for both tenants and landlords, this year we’ve seen stability in UK rental price growth, with increases remaining broadly in line with the rate of consumer inflation. For landlords there remains a sustained demand for property, with the private rental sector continuing to provide the market with both flexible and long term housing options.

    “The slowdown in the rate of house price growth, as reported by the Nationwide House Price Index is being driven by the depressed London market, which saw house prices decline by 0.8% during the last four months of 2018. In contrast, we have seen average rental values in the capital rise by over 4% in the latter stages of the year. Ultimately, we would expect this theme to continue in London, if the demand for property outweighs supply.

    Commenting on the outlook for 2019, he further states: 

    “Private residential landlords will continue to play a key role in the wider UK housing market. Whilst the outlook for property investors remains positive, one of the key concerns for the market in 2019 would be a potential lack of supply in certain regions. The government’s squeeze on private landlords via taxation changes and more regulation could discourage their continued participation in this important sector. Unlike the trends we saw in 2018, any reduction in supply could lead to rental increases that are above the rate of consumer inflation.

    “The data used in the HomeLet Rental Index provides us with a forward-looking view of the rental market, so it will be interesting to see how this theme develops in early 2019.”

    Head to https://homelet.co.uk/homelet-rental-index/ for more information.

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    But on the other hand ...

    Private tenants in Britain in 2018 paid £59.1 billion on rent - that’s £1.9 billion less than in 2017 and the first fall in a decade.

    The data comes from Countrywide’s high-end brand Hamptons International, which produces a monthly lettings sector market report.

    Hamptons says the 2018 fall has been driven by a drop in the number of households renting and rental growth stagnating.

    Full/source article

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