Rent in England’s rents hit a new high in July with the average monthly rent for new tenancies climbing to £1,496, surpassing the previous record of £1,470 set in July 2024.
It seems the great British property market has finally found something to be cheerful about with prices increasing in July according to Halifax and Nationwide.
The Bank of England has announced a further cut in interest rates yesterday to 4%.
The NRLA says there is an increase of nearly 20% in the number of tenants at risk of homelessness as landlords sell up.
Smaller housebuilders are struggling to build at scale because they have to submit more planning applications than the big players for the same number of homes.
Average house prices appear to have increased in the aftermath of the Stamp Duty changes, Land Registry data suggests.
Private rents across the UK have continued their upward trajectory, with the Office for National Statistics (ONS) reporting a 6.7% rise in average monthly prices, but the rate of increase is slowing down.
A lettings agency claimed that rents across Britain have surged by as much as 17.4% since Labour began the Renters Rights Bill’s passage through Parliament.
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