UK house prices were down 2.6% in value during November, representing an annual drop of 14.9% since last year according to new figures from the Halifax.
In the three months to October, continued falls in houses prices coupled with further tightening in mortgage lending conditions has turned more would be buyers and sellers to the rental market according to the Royal Institute of Chartered Surveyors (RICS).
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Housing deposits represent major outlay for students, particularly as student rents have gone up by 18% in the last four years. Yet as the academic year is about to start, students are at risk of losing money to unprofessional landlords.
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Marginal falls in rental returns for houses and flats are reported in the latest quarterly survey of ARLA’s member letting agents.
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With demand for housing in the Private Rented Sector likely to soar due to the credit crunch, the Association of Residential Letting Agents, ARLA, has warned agents and landlords not to take advantage by cutting corners.
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A new review aimed at improving the management and conditions of people living in Houses in Multiple Occupation (HMOs) has been launched by Housing and Planning Minister Caroline Flint.
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Nearly £900m of tenants’ deposits has been safeguarded under the Government’s tenancy deposit protection scheme in its first year, the Department for Communities and Local Government has said.
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Average rents in the private rented sector have risen by an average of 4% for houses and 2% for flats in the three months to the end of February.
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The supply of properties available to rent across Ireland increased by almost fifty percent in the last three months of 2007, according to Daft.ie.
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One in ten (10%) renters aged between 25 and 34 count their landlord as a friend, while nearly one in five (18%) say they would happily send a gift or card to their landlord to express their gratitude if they had gone out of their way to help them.
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Rental incomes rose by 2.5% in December, bringing the annualised rate to 19.4% – the fastest annual rental growth rate since Paragon Mortgages began their index in 2001.
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