UK's landlords see rents slide in October

AFS Team·15 November 2017·4 min read

UK's landlords see rents slide in October

Landlords around the UK have seen rents fall in October with the biggest falls being in the South West, according to one index.

The HomeLet rental index reveals that every region was affected with the south west seeing a fall of -2.9%, while in the south east rents fell by -2.4%.

Landlords with properties in Greater London saw their rents drop by -2.3%.

Figures for new rents being charged in October

Those figures are for new rents being charged in October when compared to the month before but the annual rental growth has also fallen to an average of 0.9% with the best growth over the year being seen by landlords in the East Midlands with a 3.6% rise.

Landlords in Northern Ireland saw rents rise by 3.4% over the year, while in the West Midlands the rise is 2.9%.

However, the only region that saw rents fall over the year was for landlords in the south east where the recorded drop is -0.8%.

The figures from HomeLet also reveal that the average London tenancy agreed in October was for rents of £1,556, a fall from September's figure of £1,593.

Landlords with heritage properties of one over energy efficiency moves

Meanwhile, several UK heritage organisations have teamed-up to raise concerns over the way the government's energy efficiency policies will treat traditional buildings.

The CLA, which represents rural landlords among its members, has teamed up with the National Trust as well as the Church of England and others to complain that the one-size-fits-all approach to property energy efficiency has failed to recognise the country’s heritage properties and their unique nature.

They say the homes have been built from traditional materials and are being failed by the policy which gives their owners and landlords inaccurate energy efficiency information and could lead to potentially damaging retrofits. They say the moves are 'over simplistic'.

Relevant solutions that will help safeguard old buildings

Now the organisations say they want to meet government ministers to discuss what could be relevant solutions that will help safeguard old buildings and avoid further mistakes in policy.

The CLA's president, Ross Murray, said: “We want to encourage investment in rural housing and achieve more efficient and warm homes but this is undermined when property owners don't have faith in energy performance certificates.

“Older buildings are an important part of our heritage and are sought after for their character so it would be a tragedy if the government put them at risk with a simplistic approach to energy efficiency.”