As the UK's lettings industry picks its way through coronavirus-induced problems, it appears the global pandemic isn't enough to discourage new entrants to the market. John Lewis has announced plans to invest in build-to-rent on a number of its existing land sites, while Czech proptech firm Flatio has made an investment into what it calls mid-term renting in the UK.
Halifax’s house price index has found that the average house price now stands at £249, 870, a 7.3% rise on last year, and the strongest growth since June 2016. Across the last three months, Britain’s biggest mortgage lender approved more mortgage applications from both first time buyers and homemovers than anytime since 2008.
Approximately 40 universities have reported coronavirus cases and as a result many face-to-face classes have been suspended. As the academic year begins, thousands of students are in self-isolation. The National Union of Students have revealed that 1 in 3 students would like to be released early from their rental obligations whilst fewer than a tenth have been provided with this opportunity. Why?
As the UK's private rental sector (PRS) landlords work hard to support their tenants during the coronavirus pandemic, the industry has come under fire for the quality of housing on offer and a lack of future planning. Two separate reports from Shelter and the Institute of Housing (IOH) each criticise the provision of rental homes now and in the future, with accusations levelled mainly at the government.
The Government has published its outline for improving energy efficiency in the UK's stock of private rental sector (PRS) homes as part of a commitment to improve the energy performance certificate (EPC) rating to Band C by 2030. However, the expectations for new rental properties to have a Band C EPC by 2025 and all properties to have the same by 2028 - excluding exemptions - has been described as unachievable by ARLA Propertymark.
When searching for a property many factors and extra amenities may be attractive to different tenants depending on their budget and circumstances. In this instance we will be discussing renting a furnished property vs an unfurnished property.