Rents rise again in May

Posted: 29 Jun 2007 16:48:31 GMT

Rents rose for the sixth month in a row in May, new figures from one mortgage lender have shown.

Rents rose for the sixth month in a row in May, new figures from one mortgage lender have shown.

According to research from Paragon mortgage company, the average annual rent being charged by landlords stood at £10,702 last month - up ten per cent from the £9,665 average seen six months ago.

Continued strong demand from tenants appears to be behind the continued rent rises, with 63 per cent of landlords saying that demand was either stable or had increased.

"The private rented sector is buoyant as demand from tenants continues to be strong," commented Nigel Terrington, Paragon's chief executive.

"Many parts of the community, such as students, migrants, people on housing benefit, and first jobbers, rely on rented accommodation for their housing needs, and the sector is set to continue this growth over the next five to ten years."

He added that the forecasters predicting a significant downturn in the buy-to-let property market had overlooked the simple fact that there continued to be strong demand from tenants who could not afford their first step on to the property ladder.

© Houseladder Ltd

Advertise NOW! Sell or Let your Property Online 0% commission ...

HIPS Do You Need a Home information pack?

Sale & Let Signs Save thousands!!, Sell or Let your Property with a sign ...

Advertise on 100s of Sites and more ! Reach millions on 100s of sites...

Free eBook

House Prices Free access to official Land Regsitry Data ...

Mortgages Compare 1000s of Mortgages ...

Home Insurance Compare 100s of companies ...

MORE UK PROPERTY NEWS: June 2007

Rents rise again in May  Posted: 29 Jun 2007 16:48:31 GMT
Rents rose for the sixth month in a row in May, new figures from one mortgage lender have shown.

Land Registry reports 0.7% house price increase  Posted: 29 Jun 2007 10:59:53 GMT
The Land Registry has reported a 0.7 per cent increase in house prices for May, with the average home in England and Wales costing £180,594 according to the government agency.

Buy-to-let 'has seen 30-fold increase'  Posted: 28 Jun 2007 16:44:44 GMT
The buy-to-let market has grown by 30 times in the last ten years, according to new research.

House price rise 1.1% in June  Posted: 28 Jun 2007 11:12:11 GMT
House prices have risen by 1.1 per cent over the last month, the latest figures from Nationwide have revealed.

BoE rates rise expected  Posted: 27 Jun 2007 11:14:12 GMT
The Bank of England (BoE) looks likely to raise interest rates next week, following comments made by the deputy governor.

AHIPP confident on Hips launch  Posted: 27 Jun 2007 11:12:55 GMT
There will be enough accredited energy assessors by the end of July to allow for the planned roll-out of Home Information Packs (Hips) on August 1st, it has been claimed.

Offset mortgage growth reported  Posted: 26 Jun 2007 11:20:27 GMT
There has been strong growth in the market for offset mortgages, the Council of Mortgages Lenders (CML) has reported.

Buyers warned over older properties  Posted: 26 Jun 2007 11:19:20 GMT
Prospective homebuyers are being warned over the potential pitfalls associated with buying older properties at auction.

NLA rejects buy to let criticisms  Posted: 25 Jun 2007 10:41:23 GMT
The National Landlords Association (NLA) has refuted suggestions that the booming buy to let market has been to blame for a lack of first time buyers in the sector.

Brown committed to affordable housing  Posted: 25 Jun 2007 10:40:55 GMT
Gordon Brown has pledged to improve the availability of affordable housing for first time buyers when he becomes prime minister later this week.

Housebuilding study launched  Posted: 22 Jun 2007 10:50:06 GMT
The Office of Fair Trading (OFT) has announced plans to look into the housebuilding market and examine whether buyers are satisfied with the sector.

Housing boom on the wane?  Posted: 22 Jun 2007 10:49:25 GMT
It has been suggested that the current housing boom could be about to come to an end.

Young look to get on the property ladder  Posted: 21 Jun 2007 10:35:17 GMT
New research has suggested that young people are now more concerned about getting on the property ladder than getting a degree.

Warning on borrowing costs  Posted: 21 Jun 2007 10:34:19 GMT
The Royal Institution of Chartered Surveyors (Rics) has warned borrowers over the amount of money they are taking from lenders.

Mortgage lending 'starts to ease'  Posted: 20 Jun 2007 10:44:27 GMT
New figures have suggested that the latest interest rate rise is beginning to have the desired impact on the property market.

DIY sales 'save money'  Posted: 20 Jun 2007 10:43:33 GMT
Homeowners who carry out do-it-yourself (DIY) house sales could be saving themselves significant amounts of time and money, according to a new report.

Private homebuyers head to auction  Posted: 19 Jun 2007 10:54:24 GMT
As the cost of property in the UK continues to increase, many private homebuyers are turning to auctions in an effort to find themselves a bargain.

CBI: Interest rate rise set for autumn  Posted: 19 Jun 2007 10:52:36 GMT
The Confederation of British Industry (CBI) has suggested that interest rates are likely to rise again this autumn.

Property prices continue to grow  Posted: 18 Jun 2007 10:52:23 GMT
New figures have suggested that the UK property market is continuing to grow, but at a lower rate as the interest rate rises of the past 12 months begin to bite.

London climbs up cost table  Posted: 18 Jun 2007 10:51:33 GMT
London is one of the world's most expensive cities thanks to its property market, a new report has revealed.

Internet 'speeding up property sales'  Posted: 15 Jun 2007 11:04:27 GMT
Many homeowners are successfully speeding up the sale of their properties by turning to the internet and other alternative methods, according to new research.

Hips loophole claimed  Posted: 15 Jun 2007 10:58:22 GMT
Home Information Packs (Hips) regulations allow for a loophole meaning that the packs do not need to be produced at the point of sale, the Royal Institution of Chartered Surveyors (Rics) has claimed.

Rics reports slowing market  Posted: 14 Jun 2007 17:17:25 GMT
The Royal Institution of Chartered Surveyors (Rics) has reported that house prices increased in May, but by their slowest rate in a year.

Moving costs adding up  Posted: 14 Jun 2007 11:02:26 GMT
Additional expenses associated with buying a new home cost the average Brit a total of £23,800 over their lifetime, a new study claims.

Interest rate hikes 'dangerous for whole market'  Posted: 13 Jun 2007 17:22:46 GMT
Concerns have been expressed over the long-term health of the property market, should interest rates increase further this year.

Neighbours 'a factor' in buying decision  Posted: 13 Jun 2007 11:04:43 GMT
Homeowners looking to sell their properties could fail to attract buyers because of the state of neighbouring properties, new research suggests.

Ruth Kelly clarifies Hips roll-out  Posted: 12 Jun 2007 13:48:52 GMT
Communities minister Ruth Kelly has given more details on the planned roll-out of Home Information Packs (Hips) on August 1st.

CLG: house price growth up in April  Posted: 12 Jun 2007 11:10:09 GMT
The average house price in the UK rose to £209,454 in April this year, the Communities and Local Government (CLG) department reports, compared with £206,890 in March.

DIYers 'adding value'  Posted: 11 Jun 2007 17:13:44 GMT
Homeowners are increasingly turning to home improvements in order to increase the value of their properties, new research suggests.

FT house price index reveals steady market  Posted: 11 Jun 2007 11:07:30 GMT
House prices rose by 0.5 per cent in May, new data from the Financial Times (FT) house price index has shown.

Government to tackle affordability  Posted: 08 Jun 2007 11:02:22 GMT
The government has set up a new unit charged with tackling the increasing affordability problems affecting the UK's housing market.

High interest rates causes increase in remortgaging  Posted: 08 Jun 2007 11:01:11 GMT
The rising cost of mortgage repayments has resulted in an increase in remortgaging activity, it has been claimed.

Base rate stays at 5.5%  Posted: 07 Jun 2007 15:32:12 GMT
The Bank of England has decided to keep interest rates at 5.5 per cent, providing some relief for mortgage-holders on variable rate deals.

Halifax: house price growth slows to 0.3%  Posted: 07 Jun 2007 11:10:29 GMT
House prices rose by 0.3 per cent in May, the latest figures from Halifax have revealed - the slowest monthly increase so far this year.

Youngsters 'need better homebuying advice'  Posted: 06 Jun 2007 11:08:19 GMT
New research has suggested that the younger generation of homebuyers need to be better educated about the property market.

Further rate rise expected  Posted: 06 Jun 2007 11:06:53 GMT
New figures have suggested that most people are anticipating a rise in the Bank of England's interest rate in the next 12 months.

CML concern over parental support  Posted: 05 Jun 2007 12:06:29 GMT
The first-time buyer market could become "polarised" if buyers continue to rely on their parents for funding, it has been warned.

Prices jump in Northern Ireland  Posted: 05 Jun 2007 10:36:11 GMT
Northern Ireland has seen house prices rise by nearly 50 per cent in the last 12 months, the latest figures suggest.

Landlords 'unaware' of Tenant Deposit scheme  Posted: 04 Jun 2007 11:04:55 GMT
Landlords and tenants alike could avoid disputes over unpaid rent or household damage through a new government-backed Tenant Deposit scheme.

Buyers market 'unlikely'  Posted: 04 Jun 2007 11:02:58 GMT
Property market observers are not expecting a 'buyers market' in the coming months, despite the recent drop in mortgage applications and house price growth.

"Strong fundamentals" driving buy-to-let  Posted: 01 Jun 2007 12:54:07 GMT
The buy-to-let market will remain in good health because of "strong fundamentals" driving the market, the Council of Mortgage Lenders (CML) has said.

Hips delay 'costing property sellers'  Posted: 01 Jun 2007 11:23:11 GMT
The government's decision to delay the roll-out of Home Information Packs (Hips) until August has cost property sellers thousands of pounds each, it has been claimed.

UK PROPERTY NEWS: Archives

2008 July
2008 June
2008 May
2008 April
2008 March
2008 February
2008 January
2007 December
2007 November
2007 October
2007 September
2007 August
2007 July
2007 June
2007 May
2007 April
2007 March
2007 February
2007 January
2006 December
2006 November
2006 October
2006 September
2006 August
2006 July
2006 June
2006 May
2006 April
2006 March