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.
Soaring demand among tenants for homes in commuter zones and well-connected towns is fuelling a ‘mini-boom’ in the rental market.
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.
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.
Tax changes and the pandemic have given landlords a rough-ride over the last couple of years, with many throwing the towel in altogether.
Rents outside the capital are growing at record levels, prompting the UK’s largest rent protection provider to issue a stark warning to landlords.
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”.
Tenant demand reached a five-year high during last year - the highest level since the first quarter of 2016, as almost a third of landlords reported rising levels of enquiries for rental accommodation.
The world of commercial property continues to be hit by COVID-19. However, data shows landlords and tenants cooperating in face of challenges.
The government’s model tenancy agreement has been amended to be pro-pet.
The new agreement means renters with what are described as “well-behaved pets” will be able to secure tenancies more easily.
Newly released data from research from Spotahome has revealed which major UK cities are home to the highest level of shared accommodation, for those looking to beat lockdown monotony of living alone.
Private rents in some of the UK’s biggest city centres have fallen by up to 12% in a year but have risen sharply in parts of northern England as some tenants swapped an urban life for the suburbs, smaller towns and villages.
The property industry has faced a seemingly endless string of challenges thanks to measures set up to prevent the spread of Covid-19. In 2021, with another national lockdown in place, estate agents, property managers and landlords will have many more to face before a semblance of normality returns.
Student accommodation platform, UniHomes, has been crunching the numbers to find out where in the UK students should be heading for the most affordable digs.
There are currently unprecedented numbers of people working from home due to the pandemic, with many in rented accommodation and at over half indicating that they want to permanently work from home for most of the week – an almost six-fold rise since the start of lockdown.
Faced with uncertainty surrounding jobs and the threat of the ongoing pandemic, UK renters are looking at the long-term picture, with properties available within 12 months currently seeing the largest demand from renters compared to those available more immediately.
The government has set out details of its new Debt Respite Scheme - also known as Breathing Space - which comes into effect in May.
Facing mounting pressure of a rent debt crisis fuelled by the pandemic and following a recent shift in policy in Scotland, a six-week extension to the eviction ban has just been announced by the government.
Newly released research from the National Residential Landlords Association has revealed that over half of private landlords have lost rental income as a result of the COVID-19 pandemic with a third also indicating that they were now more likely to either leave the market entirely or sell some of their properties.
The latest data released by Accommodation.co.uk has revealed the extent the potential hike in Capital Gains Tax could have to the future of property investment across the UK with over half of landlords stating they will reduce their property investments if the increase happens.
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