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Statisticians finally figure out UK needs a rent index By Simon Thompson |
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A shake up of the way the government delivers housing market statistics will see the
launch of a new private rental index for the UK.
A two-year inquiry has finally delivered recommendations for revamping housing market statistics.
The new buy to let rent index will launch alongside a new UK house price index.
The details will follow in a consultation paper from the UK Statistics Authority, due for publication in October 2012.
Ministers, landlords and property investors currently rely on rental prices derived from letting agents, lenders and insurance companies.
These figures are considered unreliable as the data is limited to the organisation’s customer base, which may be a distorted sample.
At one time, a minister admitted in Parliament that official private rental figures in a government report were copied off the internet.
House price surveys are also unreliable - with two government surveys giving a £70,000 price difference for the average home in July.
The Land Registry values the average home in England and Wales at £162,900, while the Communities and Local Government Department puts the UK average at £234,000.
Similar price discrepancies exist in house price statistics issued by banks, estate and building societies.
“This report builds on the findings from my review of official house price statistics, published in December 2010,” said Matheson.
“The housing market affects everyone in the UK in some way. Statistics on the housing market and the factors that influence it are essential for making informed decisions on housing, whether in central or local government, the private or voluntary sector, or private individuals deciding whether to move, rent, buy or invest.”
The report also explains the review is a response to concerns that the public and policymakers were getting enough information on the housing market in time to make informed decisions.
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Landlords warned - prepare for more regulation |
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Landlords in England are being warned that they should prepare for more regulation after the government published a consultation.
The warning comes from Tim Miles who is a partner at law firm Clarke Willmott.
He says that the Government is cons |
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Research reveals that 2017’s rents fell in real terms |
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The rents being paid to landlords in all parts of the UK fell in real terms during 2017, research suggests.
The findings from HomeLet reveal that rents in November rose by 0.7%.
That's the 11th straight month that rent increases have fallen beh |
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Rents for the UK’s rental properties rise by 2.1% |
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The average rent for a buy to let property grew by 2.1% in the year to September, an index has revealed.
The figures from HomeLet show that the average rent now being paid is £927 every month.
For landlords in London, rents rose by 1.9% o |
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Landlords start exiting the buy to let sector |
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One leading firm of letting agents is warning that buy to let investors are beginning to exit the sector.
The warning comes from Belvoir who say that while the numbers of landlords leaving is not huge, there is a trend appearing.
The firm's chi |
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Landlord confidence takes a knock |
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Despite the prospect of high yields and profitability, a survey has revealed the landlord confidence around the UK has fallen.
The findings from BM Solutions looked at all the key indicators for the second quarter of 2017.
They say that the lev |
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Landlords 'don't know what tenants want' |
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Landlords in the private rental sector are out of touch with their tenant’s wants and needs, according to new research.
The findings from an online letting agent revealed that tenants are clear most often about what they want and t |
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