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BREAKING NEWS from the UK Property Market

Article:           “Majority of UK tenants face higher rents at end of tenancy agreement, it is claimed”

Published:       Wednesday, June 10th 2015

Source:           PROPERTY WIRE



Almost two thirds, 60%, of UK tenants have seen their rent increase on their current property at the end of each tenancy agreement, new research has found.

And many are forced to pay additional fees, averaging over £100, to letting agents to renew their contracts, according to a study by mortgage and loans provider Ocean Finance.


Landlords increase rent by an average £84 a month, or £1,008 a year, at the end of each tenancy agreement, the figures show. On top of that, 13% of renters are also hit by charges from letting agents of £117 on average for renewing their tenancies.


The study shows that over half of tenants stay in the same house for five years or more, which could see them paying almost £600 in letting agents’ fees to continue renting their home."


Source:           PROPERTY WIRE        


BREAKING NEWS from the UK Property Market


Article:           “UK house prices 'will rise 25% in next five years'”


Published:       Thursday, June 11th 2015


UK house prices are forecast to rise by 25% over the next five years and become “ever more unaffordable”, largely because of an acute shortage of homes for sale, a leading property body has warned.


The Royal Institution of Chartered Surveyors (Rics) said the supply of homes for sale – as measured by the average number on a chartered surveyor estate agent’s books – had fallen to its lowest level since records began in January 1978.


It added that an anticipated post-general election “supply bounce” had failed to materialise, with the north-west and London seeing the sharpest drop in instructions compared with April.


Several economists have already suggested that prices will start to rise again now that a majority Conservative government is in place. Earlier this month, Steven Bell, chief economist at City fund manager F&C Investments, said boom conditions had returned to the housing market."


Source:           GUARDIAN       



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