UK rental values on new tenancies start the year with an increase

Following last years end it looks as though the rental market is up again. Rental values on new tenancies started off in 2018 with a year-on-year increase. Rental prices went up in nearly every region of the UK.

Homelet showed an average of 2.4% increase in rental amounts in the UK throughout the whole of January compared to 12 months previous. Throughout the nation rental average is £909 per month.

London’s rent increased by a 2.3% average throughout the majority of last month. The average amount in the capital now is £1,532. Excluding London the average UK rental value was £760 in January 201, which is also a 2.3% increase on the previous January.

With this in mind is it possible to predict an upward increase of rental value for 2018?
Well nobody can be certain

By |February 12th, 2018|Categories: Selling Your Property|0 Comments

Selective Licensing

In light of the latest regulations some may have noticed that some London Boroughs have bought in the ‘Selective Licensing’, a form of licensing that all landlords have to adhere by.


Now I can already here you asking ‘Isn’t property licensing restricted to Houses in Multiple Occupation (HMOs) – surely a house or a flat rented to a single family doesn’t need to be licensed?’


Well, it depends on where your property is located. Under mandatory HMO and additional licensing, the licensing schemes are limited to certain HMOs.


But with selective licensing the rules are different. With a third of London Boroughs already operating selective licensing schemes (as of November 2017) and more schemes on the horizon, this is something all landlords and letting agents need to be aware of.


Part III of the Housing Act

By |January 24th, 2018|Categories: Selling Your Property|0 Comments

Home owners of low EPC properties could be forced to upgrade them before sale.

Homes with poor energy performance could be banned from the sales market, with owners having to upgrade them before being allowed to sell them.

The call has come from the Committee on Climate Change and could affect at least 1.2m homes with EPC ratings of F and G.

As with the changes about to be phased in for rental properties from this April, owners would have to upgrade their properties to at least band E.

The Committee is initially suggesting incentives such as low-interest loans, but says if home-owners are slow to upgrade their homes on a voluntary basis, it should be made mandatory.

Another suggested incentive could benefit buyers in the form of discounted Stamp Duty if they upgrade the property shortly after its purchase.

David Joffe, the committee’s ‘head of

By |January 22nd, 2018|Categories: Selling Your Property|0 Comments

Rental growth accelerates by a third in 2017

The latest data and analysis from Countrywide has revealed that rental growth across Great Britain increased in 2017 to 2.4%, up from 1.8% in 2016.

According to the figures, the average rent ended the year at £960 per month, up by £23 a month from the start of the year.  While rents rose a third faster than they did in 2016, rental growth was still behind than in both 2015 (3.2%) and 2014 (4.9%). Forty-six per cent of landlords increased the rent when re-letting their home, up from 37% in 2016.

In a reversal of 2016 when London had the slowest rate of rental growth in England, last year it had the fastest. Over the course of 2017 rents in London rose 3.2%, reversing the 0.8% fall recorded in 2016. Scotland

By |January 16th, 2018|Categories: Selling Your Property|0 Comments

Mortgage approvals ‘lowest for over a year’

The number of households taking out new mortgages in November was the lowest in more than a year, according to official figures.  UK Finance said High Street banks approved 39,507 mortgages during the month, the lowest since August 2016.

The figure represents a 5% fall on the same month a year ago. November was the month when the Bank of England announced its decision to increase base rates to 0.5%, the first rise in a decade. Many banks also increased the cost of fixed-rate mortgages before the announcement, which may have discouraged some buyers. 

Howard Archer, chief economic adviser to the EY Item Club, said housing market activity may have taken a dent as a result of the Bank of England move.

“While the increase was only 0.25%, and mortgage rates are still

By |January 2nd, 2018|Categories: Selling Your Property|0 Comments

Reflecting on 2017.

As the year draws to end…. just reflecting on 2017

It’s been a very difficult year for all BTL landlords. Overall the market has been soft, rental prices have come down and void periods or change over between tenants has gone up to 6 weeks on average.

Just wanted to break down some numbers for you all for what we have noticed at Albert Grace:

Landlords who renewed tenancy this year with the existing tenants, avoided a void period and all the expenses which go with it in refreshing the property. For renewing tenancies 80% of our landlords kept the rent same as last year and 20% saw a modest 1.8% average rent increase.

At AG we have worked hard during the changeover process and in about 60% of the change overs we had only

By |December 21st, 2017|Categories: Selling Your Property|0 Comments

London gloomy, but UK housing market stabilises in November – RICS

There were signs the fragile UK housing market started to stabilise in November after several months of increasing gloom, according to the latest monthly survey of chartered surveyors, but little sense a recovery is imminent.

The balance of surveyors reporting that prices had risen compared to those who said they were down over the three months to November edged down to zero from a reading of +1 in October — a reading that the Royal Institute of Chartered Surveyors said was “broadly consistent with no change in national house prices over the period”. 

Expectations for price rises in the next three months were “now more or less flat” nationally, although the overall figure continued to conceal a significant divide between London and the south east — where caution reigns — and regions

By |December 18th, 2017|Categories: Selling Your Property|0 Comments

Asking for Help

A devastated-looking man knocks on the door of a woman known for her charity.

“Please, ma’am,” he says when she opens up, “can you help this poor, tragic family down the block? The father just lost his job, and his wife is too ill to work. They’re about to be turned out into the cold streets unless someone can pay their rent.”

“That’s the worst thing I’ve ever heard in my life!” says the woman. “May I ask who you are?”

“Their landlord.”



By |December 16th, 2017|Categories: Selling Your Property|0 Comments

Majority of UK Homeowners Unfazed by Interest Rate Increase

Research in recent months has looked at what impact the recent increase in interest rates has had on UK homeowners. Over 1,000 UK homeowners were surveyed and it was noted that while it was the first increase for just 37% of UK homeowners, this climbed to 78% for those aged between 25-35.

Overall, the financial implications remained minimal across the board and market confidence remains high for the majority of homeowners, who have not been put off from a future purchase from the increase. But while the market as a whole remains unfazed by this increase, those in younger age brackets have been more deterred from climbing the ladder after experiencing their first rate increase. 

London was home to the highest number of homeowners seeing a climb for the first time at 63%,

By |December 12th, 2017|Categories: Selling Your Property|0 Comments

UK house price predicted to slump to 1% next year

New analysis from Knight Frank has suggested that UK house price growth will fall to 1.0% in 2018, following a familiar pattern we have seen since the summer of 2014.

However, it’s not all bad news as the estate agency believes that house prices will still reach 14.2% cumulatively between 2018 and 2022. 

In London, prices are forecast to fall by 0.5% in 2018, but cumulative price growth over the next five years is positive at 13.1%.

Knight Frank says prices will remain muted overall next year amid increased economic and political uncertainty in the run-up to Brexit and amid more muted forecasts for wage growth.

But it foresees slightly stronger growth in the Midlands, East of England and the North West, a continuation of the trend that has

By |December 6th, 2017|Categories: Selling Your Property|0 Comments