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Spring comes early for Landlords as rents rise

By Alex Bell on Monday, 15 March 2010

Rents rose 0.3% in February, according to the latest Buy-to-Let Index from LSL Property Services plc. The average rent in the UK reached £658 per month, 3.2% higher than a year ago, roughly in line with inflation.  Yields on buy-to-let property rose to 4.8%.

Landlords in southern England have made markedly superior returns than their northern counterparts over the last twelve months.


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AST threshold will rise to £100,000 - retrospectively

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The Government has informed the National Landlords Association that on 1 October 2010 the Assured Shorthold Tenancy (AST) threshold will rise to £100,000. The rise will apply retrospectively.

The proposal to increase the AST threshold had been broadly welcomed as an attempt to offer greater clarity and transparency for landlords and tenants.

 

More student grants to train the next generation of planners

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More students will be able to take up careers in town planning and help bridge the skills gap after Planning Minister John Healey confirmed an additional £1.8m to fund student bursaries for postgraduate training at 16 Universities.

The Government scheme began in 2004, with over 600 students completing their post-graduate planning qualification, and this year (2010/11) there is funding that will provide the full tuition fees for over 180 planning students as well as help them with the cost of living.

 

National Trust iPhone app now available

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The National Trust has launched a free iPhone app to help you find your nearest place to visit, wherever you are in the country.

With hundreds of properties and many of the UK’s favourite coast and countryside locations in their care, the app gives you the chance to find basic information about places, opening times, car parking and directions.

 

Spring comes early for Landlords as rents rise

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Rents rose 0.3% in February, according to the latest Buy-to-Let Index from LSL Property Services plc. The average rent in the UK reached £658 per month, 3.2% higher than a year ago, roughly in line with inflation.  Yields on buy-to-let property rose to 4.8%.

Landlords in southern England have made markedly superior returns than their northern counterparts over the last twelve months.

 

New build sales volumes increase more than 200%

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Sales of new-build homes rose by a remarkable 214% in the last full quarter when compared to the same period in 2008, according to Knight Frank’s "London Residential Development 2010 review".

This growth is considerably higher than the average increase of 68% for the entire London property market (ie - including resales).

Liam Bailey, head of residential research, Knight Frank, said: "The central issue in the new-build market is not an overhang of heavily discounted units, but a lack of available supply. The current supply of stock available to buy is down by 20% compared with Q1 2009. The number of built-complete new homes available for sale across London hit an all time low at just 975 in total in the third quarter of 2009.

 

UK homelessness falls by 72% despite economic downturn

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The number of people considered homeless has fallen 72% since 2003, official figures claim.

The figures also show that 9430 households were accepted as homeless by local authorities between October to December 2009 - a 22% reduction compared to the same time last year.

 

Mortgage moves leave borrowers with gambler's choice

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A number of new mortgage deals have gone on the market this week.

Commenting on the launch of HSBC’s 1.99% discount mortgage deal and Santander’s mortgage rate cuts, Hannah-Mercedes Skenfield, mortgages channel manager at moneysupermarket.com, said: "Any cuts in rates and fees is good news for mortgage borrowers, and its great to see Santander and HSBC leading the charge by announcing changes and additions to their mortgage offerings.

 

Election and economy to impact on country house market

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Lack of supply of good quality country houses, which has been a major feature of the country market for over 12-months, will ease in the weeks prior to the General Election - now widely predicted for May 6, according to Prime Purchase.

Jonathan Bramwell, Head of Country at Prime Purchase said: "The shortage of prime country houses in all locations has been an important factor in holding prices stable and in some areas has caused price increases. However, there is now a perception that the General Election may result in a 'hung Parliament' which will struggle to cut public spending and to make the economic reforms required to allow the UK economy to recover."

 

2009 - a year of two halves for property market sales

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Some of the property market turbulence of the last year is revealed in figures released by website Zoopla.co.uk.

While property sales in Britain in 2009 were 6.8% lower than a year earlier, it was very much a year of two halves. The number of properties that changed hands in the first six months of last year (273,015) was down 36.9% on 2008 but the second half of 2009 showed a 34.6% surge in sales transactions (421,732) compared to the last half of 2008.

 

More than 1 in 10 UK shops now stand vacant

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More than 10% of shops on the UK’s high streets are now vacant or available to lease according to the latest Retail Availability survey from real estate adviser Cushman & Wakefield.

The figure of 10.7% at 1 February is a marginal increase of 0.4% over the previous three months when availability fell for the first time in 2009 by 2.3%. That figure was boosted by temporary lettings in the run up to Christmas. The new figure however is almost 2% below the peak recorded in August 2009 of 12.6%.

At 1.5% of the total number of shops surveyed, availability as a result of retailer administrations has fallen by a marginal 0.3% despite some reasonably high profile casualties including Diamonds & Pearls, Ethel Austin and Threshers.

 
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