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TODAY'S OTHER NEWS

'Tenants carry burden of landlords quitting buy to let' warning

Latest government figures show that private rents paid by tenants in Great Britain rose by 0.9 per cent in the 12 months to August - unchanged from the 12 months to July.

In England, private rental prices grew by 0.9 per cent; Wales saw growth of 1.0 per cent; and Scotland saw rental prices increase by 0.5 per cent in the 12 months to August.

London private rental prices decreased by 0.3 per cent over that period, again unchanged from the 12 months to July.

“We signalled in February that landlords in London were reducing their rents, which benefits tenants living in the area. However, the increase in rents across neighbouring regions suggests demand is merely being pushed out of the capital” explains Meera Chindooroy, policy and public affairs manager at the National Landlords Association.

“The increase in rents seen elsewhere in the country is not unexpected given recent reports suggesting supply is reducing while demand remains strong. As landlords exit the market due to the rising cost of letting, tenants will continue to bear the burden of the gap between demand and supply.

“The government should consider these figures in the context of a dynamic private rented sector and housing market, and ensure that future policy interventions consider the wider impact on landlords’ willingness to invest.”

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  • icon

    On the button with this one. I have increased my rents due to bank rate increase with no problems, stopped using the useless and clueless DPS and will be selling up asap leaving the council's to house more tenants but as they are the worst rogue landlords in tbe country watch it all go wrong!.

  •  G romit

    With a net reduction of 4,000 rental properties each month, that's 4,000+ displaced families looking for a new place to live in a diminishing market.
    The only surprise is that rents are rising so slowly.

  • icon

    Give it time, Gromit, give it time.

  • icon

    Every government policy backfires on tenants .. how can’t tenants see this and aren’t up in arms
    Just wait til s21 is scrapped and more landlords head for the door rents will rocket

  • sam l

    the council is making policies waiting for disaster to happen. politian are clueless about what works and what not! the economy is going down and with brexit huge fines, the hmrc are looking towards landlord to foot the bills no doubt especially with all their penalty.

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