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Home Search in London confirming a shortage of three bed houses

31 October 2014

As the lettings market in the capital continues to thrive, one leading national estate agent is experiencing a shortage of rental properties available, particularly for three bedroom homes which are in high demand. The demand for three bedroom homes for rent in central London is seemingly insatiable, according to Zoe Rose, head of London lettings at Strutt & Parker. ‘As soon as we get a good one on our books, it lets in a flash. We recently let a three bedroom lateral top floor apartment on Cranley Gardens in South Kensington for £1,300 per week within two...

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UK recording year on year rise in residential rents

27 October 2014

Rents in the UK have continued to increase steadily throughout the year with the average rent in the third quarter of 2014 reaching £903 per calendar month, according to the latest index.This is an increase of £21 per calendar month (pcm), up from £882 per calendar month in the second quarter of 2014, data from Countrywide Residential Lettings shows.In September, the average UK rent reached its highest level for 32 months, £916 pcm, reflecting growth of 5.2% year on year.All regions saw a year on year increase in rents apart from the Midlands, which saw no increase in the third...

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Landlords pilot new UK tenant immigration checks

22 October 2014

The UK’s National Landlords Association (NLA) has updated its guidance on tenant checks ahead of a test piloting new immigration checks. From December 1st, a test scheme in the West Midlands will be introduced requiring landlords to check the immigration status of each new tenant. The obligation will be on the landlord to prove that the tenant has the ‘right to rent’ and has the correct UK immigration status before agreeing a tenancy. A failure to check tenants’ status may result in landlords facing a fine of up to £3,000. The new rules, set out in the Immigration Act 2014,...

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Average UK house price growth shows clear signs of slowing

21 October 2014

Average house prices in the UK fell 1.1% in September but are still up 6.9% on annual basis, according to the latest index figures to be published, reports Property Wire.Last month, average house prices stabilised at £203,135 while in London property prices actually fell 3.3%  - albeit in the capital prices are still up 19.8% on the same time last year, with the average house price standing at £507.967.The National Housing Market Monitor Report from haart estate agents shows that demand for properties nonetheless remains strong, with on average 10 buyers chasing each new property across the UK, up from eight two...

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