Latest news with #tenants
BBC News
5 hours ago
- Politics
- BBC News
Regulator finds 'failings' in Suffolk councils' housing services
Failings have been identified during inspections of two separate councils' housing services. The Regulator of Social Housing (RSH), a government watchdog, inspected East Suffolk Council and Ipswich Borough Council in their role as landlords and said both had "serious failings".Issues were raised around the standard of homes and interactions with tenants, although RSH said both authorities were engaging with it to make improvements. In response, both councils said they recognised the issues and had steps in place to address them. According to the RSH report, East Suffolk Council owns and manages about 4,300 social and affordable-rent the regulator found hazards including damp and mould were not fully tracked "due to the absence of policies and processes". The council had also identified that about half of its homes did not meet the decent home standard - government criteria to ensure social housing meets an acceptable level of RSH said East Suffolk Council was bringing in new procedures for managing housing Beavan, an Independent councillor who is cabinet member for housing, said the authority was "incredibly disappointed" but was "entirely committed to addressing" the issues raised."Over the last few months, we have been able to appoint additional capacity to key roles, with further recruitment planned over the coming weeks," he added. "We are committed to improving the services and quality of homes we deliver to tenants." In its inspection of Ipswich Borough Council, the RSH identified "serious failings" in the council's understanding of the "diverse needs" of also said the council was "unable to evidence" which of its homes were free of serious hazards."We observed some respectful approaches to tenants during our inspection, but also some use of language which raised concerns that Ipswich BC was not fostering a strong culture of courtesy and respect throughout its organisation," the report RSH noted the council provided "effective, efficient and timely" repairs and dealt with anti-social behaviour and hate incidents "effectively".Alasdair Ross, a Labour councillor who is the portfolio holder for housing, said Ipswich Borough Council was "committed to providing safe, decent homes".He added: "Although the regulator has acknowledged areas of good practice and high satisfaction among tenants, we recognise there is more to do."We have already taken action in several key areas and will continue to make progress with pace and transparency." Follow Suffolk news on BBC Sounds, Facebook, Instagram and X.
The Independent
a day ago
- Business
- The Independent
Rent in London reaches new high of £2,712 per month
Average asking rents across Britain have reached new record highs, with the average outside London at £1,365 per month and in London at £2,712 per month. Despite these records, the annual growth rate of asking rents is slowing, with outside London at 3.9 per cent and London at 1.9 per cent, marking the lowest annual growth since 2020 for areas outside the capital. The rental market is showing signs of rebalancing, with an increase in available properties (up 15 per cent year-on-year) and a decrease in tenant demand (down 10 per cent). Properties are taking longer to be let (25 days on average), and nearly a quarter of rental homes are undergoing price reductions, the highest proportion recorded since 2017. Over the past five years, the average monthly rent for a new tenant has increased by more than £400, leading to significant financial strain and debt for many renters.
Yahoo
2 days ago
- Business
- Yahoo
Record high rents as tenants pay £400 more per month than five years ago
Asking rents across Britain have reached new record highs, according to an index. The average rent being asked across Britain, excluding London, has reached a record £1,365 per month, according to figures from Rightmove covering the second quarter of this year. Despite reaching a new record, the average asking rent for a home outside of London is now 3.9% higher than this time last year, the lowest this annual growth figure has been since 2020. In London, the average advertised rent has also reached a new high, at £2,712 per month. Average advertised rents for new properties in London rose by 1.9% annually. Rightmove, which used data from its website, said that it is taking an average of 25 days for a rental home to be marked 'let agreed', up from 21 days last year and 18 days in 2022. Nearly a quarter (24%) of rental homes are having price reductions while they are advertised, marking the highest proportion recorded by Rightmove since 2017. It said that the slowing in the pace of rental price growth has been partly because of the balance between supply and demand improving. It is seeing the best balance between supply and demand in the rental market since 2020. The number of properties for tenants to choose from is 15% higher than a year earlier, but remains 29% below the level seen in 2019, just before the coronavirus pandemic lockdowns in the UK. Tenant demand has also fallen by 10% compared with a year earlier. The average number of inquiries a typical rental property receives is now 11 – down from 16 last year, but up from seven in 2019 – the report said. Five years on from when the pandemic began, the average monthly rent that a new tenant faces paying is more than £400 (£417) more than in 2020, Rightmove said. Colleen Babcock, a property expert at Rightmove, said: 'Despite another new record in average asking rents for tenants, the big picture is that yearly rent increases continue to slow, which is good news for tenants. 'Supply and demand is slowly rebalancing towards more normal levels, though we still have a way to go before we reach pre-2020 levels of available homes for tenants.' Alex Caddy, manager at Clarkes Estate and Letting Agency, said: 'The rental market has undergone a marked shift in 2025. 'After several years of sharp rent inflation post-pandemic, tenants hit a ceiling by late 2024, leading to widespread price slowdowns. 'Competitively priced, well-presented properties continue to attract strong interest, echoing trends seen in the sales market. However, the market is now dealing with a much higher supply of rental homes, a complex reversal of previous trends. 'Some landlords have exited the sector over the past two years due to rising regulatory and financial pressures, but with the sales market slowing in some areas, a growing number of those properties have re-entered the rental market. 'Demand remains robust, particularly for quality one and two bedroom homes. Larger properties are moving more slowly, with some seeing longer void periods as tenants benefit from increased choice.' Andrew Ralph, managing director, lettings at LRG (Leaders Romans Group) said: 'We're seeing a shift in the rental market this quarter. Stock levels are up, and demand remains strong but more measured, bringing us closer to a sustainable balance. 'Average rents are still rising year-on-year, but at a slower pace. Pricing correctly from the outset is key, and being quick to adjust price in line with market response helps avoid unnecessary void periods.' Megan Eighteen, president of property professionals' body Arla Propertymark, said: 'Many landlords within the private rental market are grappling with substantial hikes in their overall costs, including increased taxes, unfavourable mortgage rates, and ongoing regulatory challenges. 'These factors are making property investment less appealing and potentially riskier.' Richard Lane, chief client officer at StepChange Debt Charity, said: 'The last five years have hit household finances hard, but few have felt it more sharply than those in the private rented sector. 'The majority of our clients struggling with debt are renters, with a third in the PRS (private rented sector). Our data shows that among StepChange clients, housing costs take up 37% of private renters' incomes on average – compared to 29% among social renters and 27% among mortgage holders. 'When so much of your income goes on rent, it's no wonder private renters are more exposed to debt and financial hardship.' Ben Twomey, chief executive of Generation Rent, said: 'When so much of our income is swallowed up by landlords, it can mean that we can't afford to heat our homes for the winter or feed ourselves properly. Some renters are staring down the barrel of debt and homelessness.' Sign in to access your portfolio
The Independent
2 days ago
- Business
- The Independent
Record high rents as tenants pay £400 more per month than five years ago
Asking rents across Britain have reached new record highs, according to an index. The average rent being asked across Britain, excluding London, has reached a record £1,365 per month, according to figures from Rightmove covering the second quarter of this year. Despite reaching a new record, the average asking rent for a home outside of London is now 3.9% higher than this time last year, the lowest this annual growth figure has been since 2020. In London, the average advertised rent has also reached a new high, at £2,712 per month. Average advertised rents for new properties in London rose by 1.9% annually. Rightmove, which used data from its website, said that it is taking an average of 25 days for a rental home to be marked 'let agreed', up from 21 days last year and 18 days in 2022. Nearly a quarter (24%) of rental homes are having price reductions while they are advertised, marking the highest proportion recorded by Rightmove since 2017. It said that the slowing in the pace of rental price growth has been partly because of the balance between supply and demand improving. It is seeing the best balance between supply and demand in the rental market since 2020. The number of properties for tenants to choose from is 15% higher than a year earlier, but remains 29% below the level seen in 2019, just before the coronavirus pandemic lockdowns in the UK. Tenant demand has also fallen by 10% compared with a year earlier. The average number of inquiries a typical rental property receives is now 11 – down from 16 last year, but up from seven in 2019 – the report said. Five years on from when the pandemic began, the average monthly rent that a new tenant faces paying is more than £400 (£417) more than in 2020, Rightmove said. Colleen Babcock, a property expert at Rightmove, said: 'Despite another new record in average asking rents for tenants, the big picture is that yearly rent increases continue to slow, which is good news for tenants. 'Supply and demand is slowly rebalancing towards more normal levels, though we still have a way to go before we reach pre-2020 levels of available homes for tenants.' Alex Caddy, manager at Clarkes Estate and Letting Agency, said: 'The rental market has undergone a marked shift in 2025. 'After several years of sharp rent inflation post-pandemic, tenants hit a ceiling by late 2024, leading to widespread price slowdowns. 'Competitively priced, well-presented properties continue to attract strong interest, echoing trends seen in the sales market. However, the market is now dealing with a much higher supply of rental homes, a complex reversal of previous trends. 'Some landlords have exited the sector over the past two years due to rising regulatory and financial pressures, but with the sales market slowing in some areas, a growing number of those properties have re-entered the rental market. 'Demand remains robust, particularly for quality one and two bedroom homes. Larger properties are moving more slowly, with some seeing longer void periods as tenants benefit from increased choice.' Andrew Ralph, managing director, lettings at LRG (Leaders Romans Group) said: 'We're seeing a shift in the rental market this quarter. Stock levels are up, and demand remains strong but more measured, bringing us closer to a sustainable balance. 'Average rents are still rising year-on-year, but at a slower pace. Pricing correctly from the outset is key, and being quick to adjust price in line with market response helps avoid unnecessary void periods.' Megan Eighteen, president of property professionals' body Arla Propertymark, said: 'Many landlords within the private rental market are grappling with substantial hikes in their overall costs, including increased taxes, unfavourable mortgage rates, and ongoing regulatory challenges. 'These factors are making property investment less appealing and potentially riskier.' Richard Lane, chief client officer at StepChange Debt Charity, said: 'The last five years have hit household finances hard, but few have felt it more sharply than those in the private rented sector. 'The majority of our clients struggling with debt are renters, with a third in the PRS (private rented sector). Our data shows that among StepChange clients, housing costs take up 37% of private renters' incomes on average – compared to 29% among social renters and 27% among mortgage holders. 'When so much of your income goes on rent, it's no wonder private renters are more exposed to debt and financial hardship.' Ben Twomey, chief executive of Generation Rent, said: 'When so much of our income is swallowed up by landlords, it can mean that we can't afford to heat our homes for the winter or feed ourselves properly. Some renters are staring down the barrel of debt and homelessness.'
The Independent
2 days ago
- Business
- The Independent
The cost of renting in Britain reaches record highs – but things might improve for tenants soon
Asking rents across Britain have reached new record highs, according to an index. The average rent being asked across Britain, excluding London, has reached a record £1,365 per month, according to figures from Rightmove covering the second quarter of this year. Despite reaching a new record, the average asking rent for a home outside of London is now 3.9 per cent higher than this time last year, the lowest this annual growth figure has been since 2020. In London, the average advertised rent has also reached a new high, at £2,712 per month. Average advertised rents for new properties in London rose by 1.9 per cent annually. Rightmove, which used data from its website, said that it is taking an average of 25 days for a rental home to be marked 'let agreed', up from 21 days last year and 18 days in 2022. Nearly a quarter (24 per cent) of rental homes are having price reductions while they are advertised, marking the highest proportion recorded by Rightmove since 2017. It said that the slowing in the pace of rental price growth has been partly because of the balance between supply and demand improving. It is seeing the best balance between supply and demand in the rental market since 2020. The number of properties for tenants to choose from is 15 per cent higher than a year earlier, but remains 29 per cent below the level seen in 2019, just before the coronavirus pandemic lockdowns in the UK. Tenant demand has also fallen by 10 per cent compared with a year earlier. The average number of inquiries a typical rental property receives is now 11 – down from 16 last year, but up from seven in 2019 – the report said. Five years on from when the pandemic began, the average monthly rent that a new tenant faces paying is more than £400 (£417) more than in 2020, Rightmove said. Colleen Babcock, a property expert at Rightmove, said: 'Despite another new record in average asking rents for tenants, the big picture is that yearly rent increases continue to slow, which is good news for tenants. 'Supply and demand is slowly rebalancing towards more normal levels, though we still have a way to go before we reach pre-2020 levels of available homes for tenants.' Alex Caddy, manager at Clarkes Estate and Letting Agency, said: 'The rental market has undergone a marked shift in 2025. 'After several years of sharp rent inflation post-pandemic, tenants hit a ceiling by late 2024, leading to widespread price slowdowns. 'Competitively priced, well-presented properties continue to attract strong interest, echoing trends seen in the sales market. However, the market is now dealing with a much higher supply of rental homes, a complex reversal of previous trends. 'Some landlords have exited the sector over the past two years due to rising regulatory and financial pressures, but with the sales market slowing in some areas, a growing number of those properties have re-entered the rental market. 'Demand remains robust, particularly for quality one and two bedroom homes. Larger properties are moving more slowly, with some seeing longer void periods as tenants benefit from increased choice.' Andrew Ralph, managing director, lettings at LRG (Leaders Romans Group) said: 'We're seeing a shift in the rental market this quarter. Stock levels are up, and demand remains strong but more measured, bringing us closer to a sustainable balance. 'Average rents are still rising year-on-year, but at a slower pace. Pricing correctly from the outset is key, and being quick to adjust price in line with market response helps avoid unnecessary void periods.' Megan Eighteen, president of property professionals' body Arla Propertymark, said: 'Many landlords within the private rental market are grappling with substantial hikes in their overall costs, including increased taxes, unfavourable mortgage rates, and ongoing regulatory challenges. 'These factors are making property investment less appealing and potentially riskier.' Richard Lane, chief client officer at StepChange Debt Charity, said: 'The last five years have hit household finances hard, but few have felt it more sharply than those in the private rented sector. 'The majority of our clients struggling with debt are renters, with a third in the PRS (private rented sector). Our data shows that among StepChange clients, housing costs take up 37 per cent of private renters' incomes on average – compared to 29 per cent among social renters and 27 per cent among mortgage holders. 'When so much of your income goes on rent, it's no wonder private renters are more exposed to debt and financial hardship.' Ben Twomey, chief executive of Generation Rent, said: 'When so much of our income is swallowed up by landlords, it can mean that we can't afford to heat our homes for the winter or feed ourselves properly. Some renters are staring down the barrel of debt and homelessness.'
