Tenants are showing signs of returning to major cities to take advantage of rents that were lowered during lockdown, a report suggests.
Work and leisure restrictions, as well as younger adults returning to live with their families, meant demand dropped in the last year.
This in turn led to rent falls, including a drop of 9.4% in London, according to property portal Zoopla.
But, since Easter, it said demand had picked up.
Letting agents can play a key role in helping the rental sector adapt to the latest government legislation, known as Breathing Space, according to PayProp.
Using recently published Government data, new research by Paragon has shown that the North West is the most affordable region for tenants, followed by North East and Yorkshire.
With a number of the UK's coastal cities home to universities, student accommodation platform, Uni Homes, has highlighted which are home to the lowest rental outgoings for students keen to study by the sea.
In step with the growing demand for rental accommodation, the number of first-time landlords is also on the rise.
However, with a constantly evolving number of laws and regulations governing the private rented sector, becoming a landlord for the first time can be somewhat daunting.
Soaring demand among tenants for homes in commuter zones and well-connected towns is fuelling a ‘mini-boom’ in the rental market.
About 700,000 renters are estimated to have been served with “no-fault” eviction notices since the start of the pandemic, despite a government promise to scrap the practice.
Despite the widely publicised exodus of UK landlords exiting the traditional market and moving into short-term letting, the UK's buy-to-let sector remains vibrant and profitable, but you have to know where to look.
New data, based on the housing costs associated with a mortgage on a three-bed home versus the average monthly rent of the same property type, has revealed that first-time buyers are now £800 a year better off than renters.
Across the pond, 'Multi-Family', the US version of Build to rent, has been established for over a decade, but could provide insight as to how much growth potential is left in the sector if the US property market is anything to go by.
There has been a sharp uplift in student rental activity following the Government’s announcement on returning to higher education just a month ago, according to the latest analysis from student accommodation platform, UniHomes.
The pandemic continues to put pressure on the housing sector, with the latest data revealing that rents are now 22% below the level they were at in February 2020.
Due to the vast numbers of students who have decided to live at home while learning is remote, or have chosen to defer their studies, the impact on the student rental market has been severe and felt most keenly by private landlords, rather than universities or colleges.
The plan to return to physical classes for many students has seen searches begin already for suitable homes in anticipation of starting a new year in September. Demand for student accommodation is set to start climbing.
Eviction orders are being issued to tenants who have run up rent arrears because of the pandemic despite a promise by the housing secretary, Robert Jenrick, that “no renter who has lost income due to coronavirus will be forced out of their home”.
The build to rent sector has gained momentum in recent years and now accounts for 1% of all UK rental properties, having surged by 135% since 2017.
London is the only major UK town or city facing a challenge of this scale, with all regions of the capital experiencing huge drops in demand due to the ongoing pandemic and shift in attitude towards renting in the city.
As speculation grows surrounding the possibility that the chancellor, Rishi Sunak, will change capital gains tax rates in the Budget next month, the National Residential Landlords Association has described the tax hike as a "Kick in the teeth" for property investors.
Statistics and projections produced by ONS have long shown that the UK's population is ageing. Attitudes toward retirement are also changing fast. Once the pandemic restrictions ease, the new generation of over 55s won’t want to just stop work and relax, they will want to enjoy a new lifestyle.
Landlords are warning the government that if it increases Capital Gains Tax the rental market will freeze up.
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