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.
The Renters' Rights Bill is likely to come into effect between Oct 2025-Jan 2026. Section 21 evictions will be abolished and all ASTs will become periodic.
The latest HomeLet Rental Index data shows that the average monthly rent in the UK rose again in May, increasing by 0.7% to £1,307.
- UK Housing Market Sees Best May Sales Since 2021
- Labour Wants Landlords to Pay More Tax
- High Inflation Could Curtail Interest Rate Drop
- The Empty Homes Policy Has Failed
- Landlords Are Heading North in Search of Higher Yields
- New Letting Agent Rules Come Into Force
- BOE Cuts Rate By 0.25% To Boost Property Market
- Warning As Housing Market “showing signs of strain”
