Latest Property News - Letting Agent Tips - Letting Agent Today
New PropTech integration ahead of AI-powered upgrade. Call for Renters Rights Bill to scrap Right To Rent. New PropTech product aims to help growing HMO sector. Estate Agent Today provides daily industry, Estate Agency, Property Market, Housing, Moving Home and Online Estate Agent News updates for the UK's letting agent community.
Rental growth still slowing in prime London as stock levels recover
7 hours ago · In its snapshot for the end of October, is says average rents in prime London are 35.4% above their 2017-2019 (pre-pandemic) average, but in October annual rental growth slowed to 1.4%. There were 10.9% fewer lets agreed in October than a year earlier, but year-to-date lettings activity is around 4% ahead of where it was at the same point in 2023.
Tenants go for fixer-uppers to escape rental sector
1 day ago · Some 68% of tenants see fixer-uppers as a more affordable route to property ownership, with an average 12% discount on these homes. The biggest motivator for renters wanting to purchase a fixer-upper is the opportunity to buy at a lower price (73%). The average asking price of a fixer-upper home is £327,224, which is 12% (£44,634) lower than ...
Rents - how will they change by 2027? - Letting Agent Today
3 days ago · Looking ahead to 2025 and beyond, rental growth is expected to continue softening, but remain above both house price growth and inflation in the long term. We’re predicting rents to rise 4.5% in 2025, followed by 4.0% in both 2026 and 2027. This trajectory is driven by the continued squeeze on landlords’ profits due to higher mortgage and ...
Three-and-a-half year low for central London rental growth
3 days ago · Three-and-a-half year low for central London rental growth. Average rents in prime central London increased by 1% in the year to October, which was the lowest rate of growth since July 2021. The equivalent rise in prime outer London was 2%, down from 8.3% in the same month last year. The figures come from Knight Frank, which says lower rental ...
Stamp duty hike leading to renegotiated prices on buy to lets
6 days ago · A leading agent says the stamp duty hike on additional homes from 3% to 5% announced at the Budget has triggered renegotiations on prices of homes on sale. Jeremy Leaf, the north London agent and former RICS residential chairman, says: “Worries about the Budget did create some uncertainty among our buyers and sellers but many pressed the ...
Cash and Clarity: that’s what Rightmove wants for lettings from …
The percentage of all home-movers that will be exempt from stamp duty will decrease from 28% to 5% (by lowering from £250,000 to £125,000). The percentage of first-time buyers that will be exempt from stamp duty will decrease from 61% to 40% (by lowering from £425,000 to £300,000). Tags: Budget, Finance, Property Portals, Stamp Duty & Land ...
RICS says lettings optimism rising despite supply-demand mismatch
The latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey shows rental demand continuing to grow and outstrip supply. September saw 22% of respondents showing growing demand, but a further drop in properties listed for rent, with a 29% retreat. RICS says this trend is further influenced by some landlords listing their ...
Record rents as lettings sector braces for Budget impact
Average advertised rents outside London hit a 19 th consecutive quarterly record of £1,344 per calendar month (pcm), says Rightmove. This was up 5.2% from last year, although this is the slowest rate of growth since 2021. London rents also hit a new record at £2,694 pcm, 2.5% higher than last year (£2,627 pcm) The portal says the balance ...
New lettings management service charges 9% of rent plus VAT
New lettings management service charges 9% of rent plus VAT. A PropTech platform has launched a new lettings service, piggy-backing on an established lettings agency chain. GetGround claims to offer nationwide coverage for all types of buy to let properties charging 9% of monthly rent plus VAT. The launch follows what the company calls “a ...