A new study suggests that inequality across the UK is rising, thanks to higher rents and lower mortgage interest rates. The Resolution Foundation said that higher rents have hit the poorest Britons hardest, as this group is more likely to live in rental accommodation.
While new legislation in the Buy-To-Let (BTL) Private Rental Sector (PRS) has added to the workload of landlords and letting agents, it has had the effect of being financially beneficial to tenants across the UK. Following the introduction of the Tenant Fees Act 2019, many tenants are receiving a partial refund on their deposit when they agree a new rental contract for the same property.
Following its recent campaign to end ‘No DSS’ discrimination in the lettings markets, charity Shelter said it has achieved some success. However, even though some online property portals have ensured the adverts don’t include overtly discriminatory words and a number of mortgage lenders have removed rules which discriminate against benefit recipients as tenants, the housing advice charity said it has more work to do to completely eradicate this discrimination from the UK’s rental market.
While there’s plenty of worrying news about the supply of private rental sector properties in the buy-to-let industry, a recent report from global property firm Knight Frank has some good news for tenants. According to its latest London residential development survey for the second quarter, the number of Build-to-Rent developments is on the rise yet again.
London’s Mayor, Sadiq Khan further reinforced his commitment to building more affordable homes across London at the inaugural Homes for Londoners conference. Taking place in Newham earlier in October, spokespeople from both the private and public sectors gathered together to help discuss London’s property needs and how community groups and development companies can work together to help ensure the homes that are needed in the city are built.
Following in-depth research into housing in Manchester and how affordable – or not - it is for the young people who live there, a new report has identified a number of ways to help young people afford to live in the city, with a form of rent control among the recommendations. However, following the publication of the report, some concerns have been raised that any form of rent control could hurt the supply of private rental sector properties.