Nothing much happened this week – no really, everyone took the week off. Jump to Renting
Property
Property Analysts
The BBC News website asked two property industry analysts generally at opposite ends of the argument to give their response to some typical questions. The answers were surprisingly in agreement if you read between the lines:
- Has the UK housing market recovered?
No
- If I buy now, have I bought at the bottom of the market?
You’ve missed the boat.
There is another 20% to go next year.
- Is it a good time to become a buy-to-let investor?
No
- Can I get a mortgage now?
Yes, if you put a big enough deposit down
- Will mortgage costs remain low for some time?
No
House Prices
Both Nationwide and Land Registry figures show substantial house price rises in August, and over the last 3 months.
Renting
The latest rental index from FindaProperty.com provides further evidence of a recovery in the rental market driven by a reduction in the number of homes available for rent.
Letting Agents report an extremely busy market, with flats renting within a few days. Pimlico flats have had a steady turnover of tenants, nothing particularly dramatic but all flats renting out as they become vacant. From September we will have a new vacancy every week as our new Studios come to market, and will hopefully let “off plan” as the earlier ones did.
The National Landlords Association has just launched its own online database of NLA members designed to allow tenants to check whether their current or prospective landlord is claiming to be a member of the NLA and, therefore, abides by the NLA Code of Practice a framework whereby legitimate complaints are dealt with in a timely and professional manner.
