PRIVATE SECTOR RENTS MAY INCREASE BY OVER 20% IN THE NEXT FIVE YEARS
- 09 Mar
The Residential Landlords Association (RLA) refer to figures from the Royal Institution of Chartered Surveyors (RICS) showing a prediction that private sector rents will increase by over 20% in the next five years.
This prediction connotes the following:
- Landlords will not be taxed based on profits but turnovers
- Mortgage interest relief will be cut to income-tax rate
- Data by David Miles, a former member of the Bank of England's Monetary Policy committee - that "rents would need to increase by between 20% and 30% for landlords to offset the impact of these measures, coming alongside a stamp duty surcharge on the purchase of homes to rent out" has been confirmed
The data from the RICS survey also showed that about 1/3 of those who responded to it felt that vulnerable tenants were finding it more difficult to access rented housing.
According to 24Housing, David Smith, RLA Policy Director, said:
"Today's survey is a reminder that it is tenants who will ultimately suffer as a result of the Government's punitive tax changes.
"We need a tax system that supports rather than hinders housing growth but yesterday's budget did nothing to achieve this despite repeated warnings from the RLA and others over the last 18 months that these changes would have negative effects on landlords and tenants.
"Even at this late stage we call on all sides to work with the RLA as it develops its own blueprint for a sector that provides the homes to rent we so desperately need."
What do you think?
Please tweet comments @suppsolutions.
For more details, visit 24Housing for more details.
- 30 Aug
RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES
The analysis of the Help to Buy Scheme revealed the following:The chief executive of Paradigm Housing Group, Matthew Bailes, said:" ... clearly, it worked well for developers, and for providers, it...
- 22 Aug
A NORTH WALES COUNCIL REVEALED THEIR WAITING LIST FOR NEW HOMES HAS REACHED BREAKING POINT
The north Wales Council revealed their waiting list for new homes has reached "breaking point".According to Clare Budden, Flintshire Council's community enterprise chief officer said:"There are...
- 17 Aug
HOMELESSNESS POLICY IS UNDER REVIEW IN A NORTHAMPTONSHIRE COUNCIL
Kettering Borough Council has amended its letters to homeless residents to let them know of their right to request a temporary accommodation review.According to an ombudsman, Michael King:"People in...
- 15 Aug
FINANCIAL CONSTRAINTS HAVE CAUSED THE CLOSURE OF MANY CHILDREN AND YOUTH CENTRES
Local Government Association (LGA) made the following findings:Chair of the LGA's children and young people board, Richard Watts, said: "The reality is that services for the care and protection of...
- 11 Aug
RESIDENTS OF BUILDINGS IN LEDBURY ESTATE, SOUTHWARK, SOUTH LONDON WILL BE MOVED OUT TEMPORARILY
The buildings in Ledbury Estate in Southwark have been constructed in a similar way to Ronan Point, a tower block in Newham which collapsed in 1968 as a result of a gas explosion, killing three. An...
- 10 Aug
THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND
The Royal Institution of Chartered Surveyors (Rics) made the following findings:Chief Economist at Rics, Simon Rubinsohn:"Sales activity in the housing market has been slipping in the recent month...
- 07 Aug
REPORT FINDS THAT PEOPLE ARE INTENSELY SUFFERING FROM LACK OF AFFORDABLE HOMES IN SCOTLAND
According to the report by "Shelter":Shelter's deputy director, Alison Watson, said:"This report shows the disproportionate impact of Scotland's housing crisis on young people and private renters who...
- 02 Aug
NEW REPORT BY THE PUBLIC ACCOUNT COMMITTEE IN WALES COMMENDS HOUSING ASSOCIATIONS
The report which was put together after nine months of inquiries stated the following:Nick Ramsey, Chair of the Public Accounts Committee, said:"Generally, we found governance and regulation within...
- 31 Jul
LONDON COUNCIL URGES THE GOVERNMENT TO MAKE MEASURES TO END LETTING FEES FOR PRIVATE RENTERS
The London council say urgent action is needed because the government has not provided "a clear timescale to introduce its own measure", Letting Agent Today, reports.Last year, the government had...
- 17 Jul
A NEW SCHEME HAS BEEN PROPOSED TO DEVELOP ARTHUR STREET ESTATE IN LONDON
Wates Residential will help to deliver Orbit's proposed £73m regeneration of an estate in London, after their success with making Larner Road an award winning, 40,000-home, Erith Park, Bexley.Within...
What are the Future Funding Arrangements for Supported and Sheltered Housing? "Information on Exempt Accommodation & DWP Review was very informative, but also commend your approach in delivering workshops/conferences in a proactive way, and use of email and your website as a public resource" P.C. - The Hyde Group