STUDENT LETS
Sharp rise in student rents in 2010 Rents are highest in the South
The latest research from
accommodationforstudents.com (afs), a student accommodation website, shows a sharp increase in student rents in 2010. The average weekly student rent now stands at £65.30, 4.3 per cent higher than last year (£62.61). The previous two years’ increases were just 1.6 per cent and 1.7 per cent. Since 2004, when the average rent was £52.44, rents have risen 25 per cent.
BUY TO LET BTL outlook is more uncertain
CHL Mortgages reports that its landlord survey shows they are less positive about the outlook for the buy-to-let market in the UK than six months ago. Of those who
responded the majority (64 per cent) are still positive about the future for buy-to-let, although this has fallen from a figure of 81 per cent, while those who are unsure about the future rose from nine per cent to 25 per cent.
This greater uncertainty has
translated into landlords’ purchase intentions with 28 per cent looking to purchase more properties, a drop of 10 per cent. Bob Young, MD of CHL Mortgages, said, “Given the speculation around
the buy-to-let market, particularly with regard to CGT and the potential for FSA regulation, it is unsurprising that landlords are less sure about the sector’s future.”
A service for reluctant managers LETTINGS SERVICE LAUNCHES
The Letting Bureau will launch its latest product at the NALS and PROPERTYdrum
Conference on 21st September. After five years of serving lettings agents who are reluctant to provide a full management service Jenny Markham says it was a natural progression to put their services into a fully online system. “We’ve never lost a client, they all really appreciate being able to offer a full service without having to do all the work. Now we can offer the service nationally to any letting agent who prefers to spend
their time letting property rather than managing it.” It is also a way for estate agents without management expertise to offer a lettings service without the expense of establishing a management office. Cost effective and extremely
easy to use, there’s no need to buy expensive equipment, no need to invest a lump sum as it’s payable monthly, no expensive training needed and no charge for upgrades. “The Letting Bureau just takes away all the negatives and makes management simple,” says Jenny.
East, which hosts 8 out of the 10 most expensive student locations. London rents average £100 per week, with Guildford, Uxbridge, Cambridge, Middlesex, Egham and Brighton all weighing in with rents of over £80 per week. The latest table of student rents is based on 60,000 properties in 83 cities. Best value locations in terms of student rental accommodation are Middlesbrough, Stoke-on-Trent and Stockton with average weekly rents of £41.47, £42.65 and £44.71. Simon Thompson, director of
Accommodation for Students, said, “Students who are going through Clearing are unlikely to find university accommodation for their first year and so it is helpful to know how much they will have to pay for private rented accommodation.”
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