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Rental price inflation rises in December

Posted on 30 January, 2018 at 7:00 Comments comments (0)

Average rents across the UK rose by 1.7% in December 2017 when compared to the same month previously; the average monthly rental is now £907.00.

Rents in the South-East of England were 1% lower in December 2017 than in the same month of 2016; rents fell year-on-year in the region every month of 2017.

The East Midlands saw the highest rate of rental price inflation in December, with rents up by 4.6% compared to a year previously.

Rents in the UK rose by an annualised average of 1.7% in December, new data from HomeLet reveals, as the private rental market ended 2017 with rental price inflation moving marginally higher. The average rent agreed on a new tenancy signed in December was £907 according to the December HomeLet Rental Index, compared to £892 in the same month of 2016.

Rental price inflation was much more stable over the course of 2017; by contrast, rents in 2016 regularly rose at an annual rate of more than 4% in the first half of the year, before rental price inflation dropped back in the second half.

Rental price inflation remains modest by recent standards. In December 2015, rents were up 3.7% on the same month of 2014, in a year when rental price inflation never fell below 3.5%.

The data for 2017 also means it is likely that rents rose at a slower rate than general inflation during every month of last year, with inflation on the consumer price index measure running at 3.1% in November , the most recent period for which official statistics are available.

Landlords Reluctant Under Right to Rent.

Posted on 24 December, 2017 at 11:50 Comments comments (1)

A recent survey by the Residential Landlords Association (RLA) of almost 2,800 landlords has found that 42% were reluctant to rent to those without a UK passport and 49% are less likely to rent to someone who has permission to stay in the UK for only a limited period.

RLA Policy Director David Smith wrote:

"Under the Right to Rent policy, landlords are responsible for checking the immigration status of their tenants and face prosecution if there is reasonable cause to believe that the property they are letting is occupied by someone who does not have the right to rent.

It is little wonder that faced with the threat of prosecution, landlords having been effectively turned into border police are reluctant.

Given that according to Oxford University's Migration Observatory, the foreign-born population is almost three times as likely to rent as UK born nationals, this policy is actively discriminating against them.

A policy that was designed to make the country a hostile environment for illegal immigrants is also creating a hostile environment for those who do not have a passport. This includes the 17% of legitimate UK residents who do not hold a passport.

Despite assurances from the Government about making allowances, landlords are fearful of being caught out by forged identity documents which have proliferated as a result of the policy.

Ministers might have reached some sort of Agreement with the EU last week about the status of EU nationals living in the UK, but without certainty landlords will not know who they can and cannot rent to and for how long.

Landlords cannot be blamed for being cautious when the threat of criminal prosecution hangs over them and they do not have the knowledge or experience to act as border control officers".

David Smith called for The Home Office to suspend the scheme pending full and detailed assessment of its impact on tenants and prospective tenants.