Latest News

Nick Clegg and Justin King confirmed as ARLA Conference 2018 speakers

13 December 2017

PRESS RELEASE: ARLA Propertymark has secured as its keynote speakers for their 2018 Conference former Deputy Prime Minister and leader of the Liberal Democrats, Nick Clegg, as well as business magnate, Justin King, who, as their youngest CEO, is credited with transforming the fortunes of J Sainsbury PLC. Read More...

GDPR: Keep calm and carry out an audit

12 December 2017

With a major change to data protection legislation looming in May 2018, there is a growing chorus claiming there will be calamity over compliance. Tales of being fined €20m and losing the ability to market to your existing client database are somewhat exaggerated though. Neil Manito, Product Owner at Reapit, offers a measured view of what GDPR means to estate agency and lettings… Read More...

Propertymark Share Predictions for 2018

11 December 2017

PRESS RELEASE: As we approach the New Year, there are a number of hurdles on the horizon but scope to remain hopeful. With further interest rate rises expected, Brexit negotiations to overcome and the cost of living escalating, the property market could see significant changes. NAEA Propertymark and ARLA Propertymark share their predictions for the rental/buying market, looking ahead to 2018 Read More...

 

Renters can't imagine buying their own home

Friday 15 September 2017

A new study has revealed that 31% of tenants in rented accommodation cannot imagine ever owning their own home.

The research*, commissioned by GoCompare Mortgages, also revealed that more than a fifth (21%) of renters think that the removal of mortgage interest tax relief on buy-to-let properties, which came into force in April 2017, will reduce the supply of rented properties in their area.

Some of the tenants surveyed were also concerned that they will face rent hikes as buy-to-let landlords pass on the higher costs. 6% said that their landlord had already or will increase the rent as a direct result of the tax changes.

Affordability and access to mortgage loans were key reasons why many Brits rent. Half of the tenants surveyed live in rented accommodation because they can't afford to buy their own home, 11% were renting because they were currently unable to obtain a mortgage. Just 14% of those renting were doing so out of preference.

The survey also looked at the profiles of people in rented accommodation, it found that more women (57%) than men (43%) were tenants; 39% were single households, 28% were families with children and 23% were couples. One in ten of people surveyed share their home with flat or housemates.

Commenting on the research, Matt Sanders from GoCompare Mortgages said, "Our research reveals that half of all tenants are in rental accommodation because they can't afford to buy their own home. It now looks like many have given up all hope of ever owning a home and, for some, the changes to buy-to-let regulations are likely to make renting more expensive. In turn, that makes saving for a mortgage even harder.

"April saw profound changes to the taxation of buy-to-let properties which will reduce landlords' profits and our survey suggests that there is a real concern among tenants that to protect their profits, over time some landlords will increase rents while others may sell-up - reducing the stock of available private rented homes."