Letproof Blog

Letproof Blog

Welcome to the Letproof.com blog. We aim to bring you up to date on things happening in the property market.

 

Broken Housing Market

 

For our landlords and our tenants, there’s undoubtedly one news story stealing focus this week - of the announcements made on Tuesday 7th, those concerning changes within the rental market have definitely grabbed our attention.

We’ve pulled together the main points for in a quick update:

 

 

> Encouragement for build to let developments

Something that has recently been of great discussion in the rental and property world; build to let properties are underway in many cities already.  With a great number, around 4.3 million, now renting in the UK, these properties will play a part in the greater issue of a lack of affordable housing.

 

 

> Longer Term Tenancies

This is obviously a welcome announcement for tenants, offering more security in rental properties,  however, the Guardian reports that the WhitePaper is ‘limiting longer tenancies to new purpose-built private rented homes’ and that ‘the government has offered renters the bare minimum’.

 

 

The question is raised, is this enough, or should there be more done for renting tenants?  A move in the right direction - longer tenancies, the November announcement of no fees for tenants, and more rental homes being provided signifies slightly better times ahead for tenants.

 


Theresa May is moving away from a focus on home ownership which would appear to sit in line with the rising numbers of those now, for many reasons, renting in the UK.  This shows a recognition that the housing market requires action as a whole and not just home buyers.

 

 

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