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New PropTech integration ahead of AI-powered upgrade. Call for Renters Rights Bill to scrap Right To Rent. New PropTech product aims to help growing HMO sector. Estate Agent Today provides daily industry, Estate Agency, Property Market, Housing, Moving Home and Online Estate Agent News updates for the UK's letting agent community.
Rental growth still slowing in prime London as stock levels recover
1 day ago · In its snapshot for the end of October, is says average rents in prime London are 35.4% above their 2017-2019 (pre-pandemic) average, but in October annual rental growth slowed to 1.4%. There were 10.9% fewer lets agreed in October than a year earlier, but year-to-date lettings activity is around 4% ahead of where it was at the same point in 2023.
Employment Rights Bill – how will it affect letting agents?
17 hours ago · Propertymark is briefing letting agents on legislation which the government calls “the biggest upgrade to employment rights for a generation.”. Propertymark rounds up the changes in the Employment Rights Bill which may impact agents and their businesses. Flexible Working Rights. If the Bill becomes law, employees will have the right to ...
Shock figures show rents tumble by over 10% in just one month
Nov 4, 2024 · Compared to the 7%+ year-on-year rent rises recorded on several occasions throughout 2024, October saw rents rise by just 4% compared to the same time last year. This month, the average rent for a property in England was £1,238. This compares to £1,190 in October 2023. In Greater London, the year-on-year increase in rents was just 2% in October.
Three-and-a-half year low for central London rental growth
4 days ago · Three-and-a-half year low for central London rental growth. Average rents in prime central London increased by 1% in the year to October, which was the lowest rate of growth since July 2021. The equivalent rise in prime outer London was 2%, down from 8.3% in the same month last year. The figures come from Knight Frank, which says lower rental ...
Breaking News Archives - Letting Agent Today
2 days ago · Agent secures instruction to let prestigious new scheme. Written by: Graham Norwood. A £101m scheme at St Pancras has flats to let starting at £2,400 pcm. ... 13th November 2024.
Record rents as lettings sector braces for Budget impact
Average advertised rents outside London hit a 19 th consecutive quarterly record of £1,344 per calendar month (pcm), says Rightmove. This was up 5.2% from last year, although this is the slowest rate of growth since 2021. London rents also hit a new record at £2,694 pcm, 2.5% higher than last year (£2,627 pcm) The portal says the balance ...
Archive - Letting Agent Today
2 days ago · Over 2,000 referrals between out-of-area agents – Guild celebrates. Breaking News. 13th November 2024. System overcomes limitation for many agents when faced with clients with properties outside their trading area....
RICS says lettings optimism rising despite supply-demand mismatch
The latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey shows rental demand continuing to grow and outstrip supply. September saw 22% of respondents showing growing demand, but a further drop in properties listed for rent, with a 29% retreat. RICS says this trend is further influenced by some landlords listing their ...
Lettings market crisis laid bare by latest figures
New figures from property consultancy TwentyCi lay bare the challenges faced by the lettings sector. In the third quarter of 2022 new instructions and lets agreed were down by 25 and 19 per cent, respectively; and in contrast to the owner-occupied sector, there was a marked supply and availability issue, as some landlords withdrew from the market because of tax changes put in place in 2019 ...