Growth in popularity for co-living
In its latest UK Co-Living Spotlight, property company Savills estimates the sector has a potential core target market of 725,000 residents, including almost 160,000 in London alone. This is compared with a total of just 24,000 operational and pipeline units, demonstrating the scale of the opportunity. Co-living combines individual studio bedroom units and on-site communal facilities, […]
Prices for beach huts jump £10,000 in a year
As the weather warms up and our thoughts turn to days out beside the sea, we may idly start wondering whether it might be nice to own a colourful beach hut…. Well, think again! According to recent research by Rightmove, the average asking price for a beach hut has risen by more than £10,000 in […]
Landlords say they will prioritise better energy efficiency ratings
A quarter of landlords say they are likely to avoid buying properties with a low energy performance certificate (EPC), according to research by Shawbrook Bank. Proposed government changes to the Minimum Energy Efficiency Standard are likely to impact buying preferences the survey shows. Of the 1,000 landlords questioned by the Shawbrook Bank, nearly a third of […]
Norwich has among the UK’s highest value city homes
New data from property portal Rightmove has revealed Norwich to be among the top city price hotspots in Britain. The Norfolk city came eighth in new data from Rightmove, with asking prices rising 11.8 per cent over the last year, more than many other cities across the country. Currently, the average house price in Norwich […]
Average length of tenancies increases
Tenants are staying longer in rental homes, according to ARLA Propertymark’s Private Rented Sector Report. Data collected from members of the organisation continues to indicate signs of ongoing disparity in supply and demand with tenants remaining in their properties for longer periods of time. According to the report, this is in part due to rock […]
Demand for rented office space bounces back
The start of 2022 saw a jump in new tenants looking to rent UK commercial property, with the uplift particularly prevalent in prime office spaces. Investor enquiries across all UK commercial property also continued to rise, according to the Royal Institution of Chartered Surveyors (RICS) Commercial Property Market Survey, Q1 2022. Respondents to the survey […]
Increasing levels of build-to-rent (BTR) properties are being completed
Analysis published by the British Property Federation (BPF) shows the build-to-rent (BTR) sector continues to grow at pace, with the number of completed homes increasing by a fifth in the past 12 months. The analysis, conducted at the end of first quarter of 2022, shows a total of 72,668 BTR homes have now been delivered […]
Avoid neighbour disputes over party walls and extensions
The Royal Institution of Chartered Surveyors (RICS) has published new guidance on how to avoid upsetting the neighbours over building works involving party walls and extensions. The free impartial advice guide is for anyone, including landlords, looking to consider construction work to extend or retrofit their property and to help them understand the rules around […]
HMRC urged to improve awareness of processes among landlords
The HMRC should improve awareness among landlords about how and when they need to register with HMRC, rather than opt for an alternative plan to change when they register to pay income tax, according to the Chartered Institute of Taxation (CIOT). Currently, a landlord is required to give notice to HMRC of their liability for […]
Strong demand in rental market
Demand for private rented housing remained strong at the end of 2021, according to new data released by the National Residential Landlords Association. A survey of private landlords across England and Wales, conducted in partnership with the research consultancy BVA BDRC, found that 56 per cent reported a rise in demand for privately rented homes in […]