Latest news with #renters
Yahoo
4 days ago
- Business
- Yahoo
Growing New Apartment Supply, Low Absorption Rates Bode Well for Renters, Redfin Report Shows
An increase in the supply of new apartments in the US and a low absorption rate are enabling renters Sign in to access your portfolio
The Independent
5 days ago
- Business
- The Independent
UK housing crisis sees renters hit hardest by rising bills
New data has revealed that renters in the UK are facing a disproportionate increase in living costs compared to homeowners, highlighting the deepening inequalities exacerbated by the ongoing housing crisis. According to the Office for National Statistics (ONS), inflation for renters surged to 3.6 per cent in the year leading up to March, surpassing all other groups. This figure significantly exceeds the overall inflation rate of 2.6 per cent during the same period, demonstrating the escalating burden of rent on the UK's 5.5 million private tenants. In stark contrast, homeowners experienced a more moderate increase in costs, with inflation affecting them at a rate of 1.8 per cent. These figures underscore the challenge facing the government, as it grapples with an acute housing shortage that has driven up rents and property prices in recent year s. While Labour has pledged to construct 1.5 million homes by 2030, the Office for Budget Responsibility has forecast a shortfall of approximately 200,000 homes. Think tank the Resolution Foundation said housing continues to be a 'major headwind' in the cost-of-living crisis. Senior economist Simon Pittaway told the PA news agency: 'Inflation is at the forefront of everyone's minds but some groups have been hit harder by recent price rises than others. 'As policy makers grapple with ongoing cost-of-living concerns, boosting support for low-income families who rent and increasing the availability to homes to buy should be priorities.' By comparison, people who have mortgages saw inflation ease to 2.8 per cent, well below 5.6 per cent from the year before, after the Bank of England cut interest rates several times in 2024 and early 2025. The base interest rate helps dictate how expensive it is to take out a mortgage or a loan, as well as influencing the interest rates offered by banks on savings accounts. Hikes in recent years, designed to combat skyrocketing inflation, have left mortgage rates much higher than was normal for most of the last decade. Social renters, such as people who live in rented council homes, were the next worst affected after private renters, with average inflation of 3 per cent. The ONS also found that families who are working age faced a higher rate of inflation, at 2.8 per cent, than retired people, at 2.1 per cent. And households with children saw price rises of 2.8 per cent compared to those without, who saw a 2.6 per cent increase.
The Independent
6 days ago
- Business
- The Independent
UK renters hit hardest by inflation as household costs surge
Renters have seen costs rise twice as fast as people who own their homes outright in the last year, underscoring the growing social divide caused by the housing crisis. Inflation for Britons who rent their homes climbed 3.6% in the year to March, according to the Office for National Statistics (ONS), the highest of any group. It was also far above headline inflation of 2.6% over the same period, reflecting how spiralling rents for the UK's 5.5 million private tenants continue to outstrip broader price rises in the economy. By contrast, costs for people who own their homes increased by 1.8%, making them the group most sheltered from inflation. The figures underline the challenge facing Sir Keir Starmer's government, as it tries to ease an acute housing shortage that has pushed up rents and prices in recent years. Labour has promised to build 1.5 million homes by 2030 but the Office for Budget Responsibility recently forecast it will fall short by about 200,000. Think tank the Resolution Foundation said housing continues to be a 'major headwind' in the cost-of-living crisis. Senior economist Simon Pittaway told the PA news agency: 'Inflation is at the forefront of everyone's minds but some groups have been hit harder by recent price rises than others. 'As policy makers grapple with ongoing cost-of-living concerns, boosting support for low-income families who rent and increasing the availability to homes to buy should be priorities.' By comparison, people who have mortgages saw inflation ease to 2.8%, well below 5.6% from the year before, after the Bank of England cut interest rates several times in 2024 and early 2025. The base interest rate helps dictate how expensive it is to take out a mortgage or a loan, as well as influencing the interest rates offered by banks on savings accounts. Hikes in recent years, designed to combat skyrocketing inflation, have left mortgage rates much higher than was normal for most of the last decade. Social renters, such as people who live in rented council homes, were the next worst affected after private renters, with average inflation of 3%. The ONS also found that families who are working age faced a higher rate of inflation, at 2.8%, than retired people, at 2.1%. And households with children saw price rises of 2.8% compared to those without, who saw a 2.6% increase.
Associated Press
7 days ago
- Business
- Associated Press
Rental-hunting season hits fever pitch as June begins, Zillow data shows
Smart search tips to beat the competition and bag the perfect pad without overspending SEATTLE, May 28, 2025 /PRNewswire/ -- The busiest week of the year for rental seekers is here. Data from Zillow Rentals® shows that the first week of June brings a spike in activity on the platform; listing views, rental applications and outreach to property managers have all peaked at this time over the past two years. With rental households at a record high, the 2025 rental season is shaping up to be one of the busiest yet. 'Summer is always a busy time for rentals, but it's also when the most new listings hit the market,' said Emily McDonald, Zillow rental trends expert. 'Knowing when demand spikes can help renters plan ahead, act quickly and use smart tools to find a place that checks all their boxes without blowing their budget. You'll still have options later if you miss the rush, but you might miss out on freebies available now.' A record-setting year for renters Rental activity on Zillow is already outpacing the past two years in terms of apartment views, lease creations and rental applications, a sign that this year's peak could be even higher. A record-high 46 million households rent, and renters are nearly four times more likely to move than homeowners, according to the U.S. Census Bureau. Demand is up, but options abound. Zillow has more than 2 million active listings including single-family rentals, apartment units and condos, an all-time high for the platform with more listings than any other rental network.1 A construction boom added more new rental units in 2024 than in any year since the 1970s, but the wave of lease concessions used to attract tenants is starting to ebb. According to Zillow's latest Rental Market Report, the share of listings offering incentives like a free month's rent dropped from nearly 40% in March to under 35% in April. Tips to outsmart the rush and avoid affordability potholes: Search smarter. Move-in-date filters, pet-friendly toggles, 3D tours and interactive floor plans on Zillow Rentals streamline the search process. Know the full cost. Zillow Rentals listings include a Costs & Fees section to break down what renters can expect to pay upfront and on a monthly basis. Avoid budget creep. Staying within their initial budget was considered highly important by 86% of renters in a recent Zillow survey. Renters can use Zillow's Rent Affordability Calculator to determine their price range by providing factors such as monthly debts, expenses, income and savings. Build financial momentum. Renting a room is a time-honored method of saving money, and it's easy to do on Zillow. Paying rent through Zillow can also help renters build their credit. On-time payments can be reported to Experian and Equifax at no cost, helping build credit history with every month's payment. 1 Zillow internal data on total rental properties compared to data published on its website and investor materials, March 2025. 2 New privately-owned housing units completed: Units in buildings with five or more. About Zillow Group Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate app and website in the United States, Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, dedicated real estate professionals, and easier buying, selling, financing, and renting experiences. Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Zillow Rentals®, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, Spruce®, and Follow Up Boss®. All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 ( ). © 2025 MFTB Holdco, Inc., a Zillow affiliate. (ZFIN) View original content to download multimedia: SOURCE Zillow
The Sun
7 days ago
- General
- The Sun
I'm fed up with my hoarder neighbour – she has sheds full of junk, is constantly trespassing & is totally unapproachable
IF you think your neighbours are bad, you've come to the right place and will need to think again. Whilst most neighbours will argue about broken fences or stolen parking spaces, this homeowner has criticised her 'hoarder' next-door-neighbour for having 'yard sales' by her pad. 3 3 3 Posting on social media, an anonymous woman has complained about her nightmare neighbour who not only constantly trespasses, but is totally 'unapproachable' too. Writing on Reddit on the r/BadNeighbors thread, a woman who writes under the username @Prudent-Ad7028, revealed all about her 'trashy' neighbours. She explained that she and her husband bought their house a year ago and have recently been left fuming with their renter neighbours. She highlighted: 'Our neighbours are renters and I'm also about 90% sure that the wife is a hoarder. 'They're our next door neighbours and the side of our house is regularly used as a lean-to for their junk. 'I've also recently seen her and her two teenage sons sitting right next to our house and our windows.' Not only this, but the woman also shared: 'She had two sheds, one in her driveway and one right behind her house, both of which are filled to the brim with junk - to the point that there's no way her yard is this filthy and the inside of their house isn't. 'This woman and her sons spend all day every day lugging s**t in and out of those sheds and setting up 'yard sale' tables along the side of our house.' Clearly fuming with the mess, the woman continued: 'I'm at my wits end, but she's completely unapproachable and any time I try to speak with her politely she ignores me. 'We also don't want to be on bad terms with the people we have to live right next door to, even though I feel they are deliberately trespassing and disrespecting our property line. Listen to the noise-hell neighbour I live with. Whose blaring TV makes my flat SHAKE 'When we bought the house we were told that our property line ends at their driveway, but I haven't gotten any paperwork proving that yet.' Unsure on how to proceed, the woman then added: 'Yesterday another neighbour gave me their landlord's number and told me to tell him about it, but I'm honestly worried it'll make things worse. 'I'm kind of mostly venting, but also looking for advice.' The Top Five Reasons Neighbours Squabble One study by Compare the Market revealed the top reason British neighbour's argue Broken fences - top of the board was broken fences and whose responsibility it was to fix it Parking: one of the leading drivers of neighbour disputes, with 54.1 per cent of people having issues with people parking in front of their house, parking bay or driveway Trees - complaints about a neighbour's tree cracking your garden path was also common with nearly half of participants finding it frustrating Bin wars - outdoor bin etiquette continues to ignite the most furious debates between neighbours Nosy Neighbours - some people have their eyes and ears at the ready to have a peek causing problems for others Reddit users react Reddit users were left gobsmacked by the user's neighbour and many eagerly raced to the comments to share their advice. One person said: 'I would get a survey done and put up a fence.' Another advised: 'Call the fire marshal, that is a fire hazard and they won't play around with that s**t. Especially if you tell them you're worried if their trash pile catches fire then your house will too. 'Also report them to your town's code compliance and your county health and human services.' Whilst a third recommended: 'Call your city Code Enforcement and complain about the trash, the sheds, the encroachment on your property and the endless yard sales. 'If it's a decently run department, they can be pretty effective. I've seen neighbours call on other neighbours here, and it worked really well.'
