Property news roundup: Annual rent rises halved in 2013
Plus, the rise of the first time buyer, the importance of smell, and Generation Rent
Friday 17 January 2014
Average rents across England and Wales rose 1.5 per cent in the past year, reaching £745 per month last month.
This annual rise is half that of a year ago, says LSL Property Services whose figures show that rents increased by 3.2 per cent in the year to December 2012, while the number of new tenancies across England and Wales increased by 7.7 per cent compared to December 2012.
Seven out of ten regions saw rents fall on a monthly basis between November and December.The sharpest drop was in the South East (down 2 per cent) followed by Wales and London (both 1.9 per cent). The North East and West Midlands experienced rent rises, up 1.5 per cent and 1.4 cent respectively.
However, the total amount of late rent across England and Wales reached £330 million, up £102 million since November 2013. This means that tenant arrears now represent 9.7 per cent of all rent, up from 6.6% in November, but lower than the 10.1 per cent of December 2012.
The importance of smell
The National Association of Estate Agents has come up with some tips to improve your chances of selling your property in winter including tidying up front gardens and paths, keeping your home warm during viewings, and highlighting any energy saving features. But they also point out the importance of the property smelling nice - they recommend removing damp footwear from the entranceway and ensuring the whole of your home smells fresh.
The CBI is calling for an investment boost in the rental sector, pointing to figures suggesting that by 2018, 1 in 5 households will live in private rented accommodation. Its property wishlist includes reducing the VAT rate on repair and renovation to help lower costs. Katja Hall, CBI Chief Policy Director, said: "Despite the rapid rise of the private rented sector, generation rent is often an afterthought when it comes to housing policy. While it’s right to support first-time buyers, we must make sure people who rent are not forgotten."
The rise of the first time buyer
The proportion of first time buyers aged between 25 and 44 will increase 20 per cent in the next decade, suggests a report from Countrywide. Around 60 per cent of first time buyers are aged 25-34. "The number of first time buyers aged 25 and under is expected to fall by a third due to increased levels of student debt and a greater proportion of younger people renting," said Grenville Turner, Chief Executive, Countrywide. Despite this, we still expect that 1 in 10 first time buyers in 2023 will be aged 25 and under and supported in the main by the Bank of Mum and Dad."
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
This three-bedroom flat within a former textile factory spans the corner of the fourth floor and has a balcony
A charming four-bedroom Oxfordshire cottage with oak floors and chunky-beamed ceilings, £465,000
A beautiful one-bed flat in a sought-after portered block, with access to Norland Square communal gardens
A one-bedroom flat within a Sixties school conversion with high-spec design and open-plan kitchen, close to Lambeth North Tube, £435,000
A 17th century four-bedroom house, with open fireplaces, cellar and pool, £600,000
A three-bedroom, coach house with luxury open-plan living space and contemporary breakfast bar
A newly refurbished one-bedroom flat in the heart of Mayfair, close to Grosvenor Square
A charming four-bedroom house overlooking Burleigh Square Park, close to Thorpe Bay
A three-bedroom farmhouse with a large inglenook fireplace and exposed beams
Life & Style blogs
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Crisis? What crisis? A visiting US doctor gives the NHS a rave review
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again. It would be immoral to bring it into the world'
Scottish Independence Referendum: Salmond described as 'arrogant, ambitious and dishonest' by Scottish women
- 2 ALS ice bucket challenge co-founder Corey Griffin drowns aged 27
- 3 Cilla Black defends Cliff Richard: 'I am positive that the allegations are without foundation'
- 4 Nicki Minaj finally releases predictable 'Anaconda' video
- 5 James Foley 'beheading': Met police warn public watching murder video could be criminal offence
£45000 per annum: Harrington Starr: Quantitative Analyst (Financial Services, ...
Negotiable: Harrington Starr: Application Support Engineer (C++, .NET, VB, Per...
Negotiable: Harrington Starr: C# .NET Software Developer (Client-Side, SQL, VB...
£40000 - £60000 per annum + Benefits + Bonus: Harrington Starr: C# Developer (...