Tag Archives: crisis
More families renting homes in the UK, research shows
Families are the most common household type in the private rented sector in the UK for the first time, according to the latest research from the National Landlords Association (NLA). The findings show that more landlords now let to families with children, making up 48% of the sector, overtaking young couples with 47%. This represents a shift compared to four years ago, when young singles made up the largest group with 53% followed by young couples at 51% and then families with children at 51%. Indeed, the PRS now accounts for approximately five million households in the country United Kingdom and, according to the latest English Housing Survey, the proportion of families in the PRS has increased from 30% in 2004/2005 to 37% in 2014/2015, an increase 912,000 households in 10 years. For the majority of families surveyed, renting privately is a stable option, with 76% reporting they were happy with the length of their tenancy, and a similar proportion, 79%, reporting their tenancy was renewed or stayed the same at the end of the initial fixed term. As a result, the perception of renting as a barrier to family life is breaking down, with 60% of renting families saying that it was not while 77% of families considered their rented accommodation to be home, and the majority, 65%, reported that they were free to personalise it however they chose. ‘There is a genuine contrast between the experience of renting in the 21st century shown in this research and the prevailing housing culture in Britain that only views it as a stopgap, something to be tolerated while waiting for the opportunity to buy your own house,’ said Richard Lambert, chief executive officer at the NLA. ‘There is a rogue element to private housing that ruins the experience for far too many people, but for the majority of the 11 million private renters, renting offers an inclusive and flexible option which works for them in their current circumstances,’ he pointed out. ‘Contrary to popular perception, there’s growing evidence that renting is no obstacle to putting down roots and calling somewhere home. The majority of landlords want good, stable, long term tenancies, and these findings show that more and more are becoming receptive to helping families make a home in the private rented sector,’ he added. Continue reading
Property sales in Spain up over 16% year on year
Residential property sales in Spain are continuing to rise but this may be due to sellers accepting lower offers as prices are falling. The latest data from the General Council of Notaries show that sales increased by 16.2% in April year on year and in seasonally adjusted terms were up 18.9%. But prices are not following the growth trend, down 5.1% on average to stand at €1,241 per square metre. Both houses and apartment prices are falling, down 1.6% and 5.9% respectively. The growth is also reflected in lending with the number of mortgages for the purchase of a home rising by 38.3% year on year. The average amount was €120,125, a reduction of 4.9% compared to a year ago, also suggesting that people are paying less for properties. Meanwhile demand for prime property is also rising, especially in the most sought after areas. Well prices properties are being snapped up fast, often in just a matter of days, according to the latest report from Lucas Fox International Properties. Multiple agencies often find themselves competing with each other for the same clients, all of whom are looking to take advantage of the current low prices, according to the Barcelona based firm. ‘We're having to remove around 40 sold properties from our website each week as the market has picked up significantly. We currently have around 40,000 mainly overseas clients actively searching for homes to buy, the majority of whom want to invest in Barcelona, Madrid and key coastal areas such as the Costa Brava,’ said head of listings at Lucas Fox Ivan Belmonte. The report suggests that the lack of supply is due to the fact that new developments are still fairly slow to come onto the market and some owners are still waiting for prices to rise before they sell. According to Rod Jamieson, head of operations, published price data is often based on asking prices rather than actual sales prices so prices paid are not actually rising. ‘Our statistics show very minimal price increases, even in prime districts,’ he said. The firm’s data also shows that 50% of visitors to its website are from overseas and 50% national buyers. This compares to 56% and 44% respectively during the same period in 2015. The British continue to represent the biggest proportion of overseas visitors to the website at 10%, a slight drop from 2015, most likely due to fears over the European Union referendum outcome. After the UK, most overseas demand for Spanish homes comes from France, the United States and then Sweden. Continue reading
Research reveals hundreds of thousands facing eviction in England
More than 148,000 renting households in England were put at risk of losing their home in the past year, equivalent to 350,000 renters, according to new research. The figures from housing charity Shelter come from an analysis of statistics from the Ministry of Justice. Shelter identified 'home threat hotspots' across the country where renters face the greatest risk of losing their home, which comes as a result of the chronic shortage of affordable homes combined with crippling welfare cuts. Enfield topped the list with one in 23 rented homes under threat of eviction. This was followed by Barking and Dagenham with one in 23, Havering with one in 27 and Croydon also with one in 27. But Shelter says that the problem stretches far beyond London. Areas such as Luton, with one in 28 rented homes at risk, Thurrock one in 34 and Peterborough with one in 35 also made it into the country's top 20 home threat hotspots. Additionally, the volume of people facing eviction who are coming to Shelter for advice is getting higher and higher. In the past year alone, over 9,800 people facing eviction have called the Shelter helpline for advice and 500,000 people have visited the Shelter website's eviction advice pages. An example is Angela, is a 35 year old mum from Bristol. Last year, her landlord increased the rent which she couldn't afford to pay so was evicted, and she's been sofa surfing with her five year old son for the past eight months. ‘I'd managed to really build a home for my son, where we felt part of the community. It was really scary going from that to waiting for the bailiffs to throw us out. I desperately wanted to be in a position to tell my son that we were moving house but instead, we've been sofa surfing and relying on the good grace of friend's to let us stay,’ she said. ‘For me, home is the start of everything. It gives you more than an address; it gives you a life and a community base. For my son, it's just as important. I'm so worried about him and how this will affect him long term. Luckily, we're still getting ongoing support from Shelter so I know we've always got someone to turn to for advice,’ she added. According to Nadeem Khan, helpline adviser for Shelter, every day the charity is contacted by people who are struggling to keep up with their rent. ‘Many are in total desperation after the court papers land on their doormat and the threat of being evicted becomes very real,’ said Khan. Further research from Shelter shows that some 59% of adults aged 18 to 44 in Britain say they will be forced to put their lives on hold because of housing problems, new research has found. Overall the current housing shortage is reshaping how millions of people live their lives and creating entirely new timeframes for when they hit traditional… Continue reading
