PADZ – From 6th April 2010 UK landlords that rent properties to three or more unrelated tenants will need to apply for planning permission. The new rules have been met with strong opposition from landlord groups particularly in city locations where shared rented accommodation is often the only viable option for young tenants. http://www.lovemoney.com/news/make-good-property-decisions/buy-to-let-investments/government-puts-the-boot-into-landlords-again-4515.aspx
Property Rental News
UK – Brits Rejecting Risky Second Home Locations
Monday, March 8th, 2010
PADZ – A survey by Savills International has indicated that Brits are reverting to less risky second home locations of Spain, Portugal, Italy and France. http://www.globaledge.co.uk/news/brits-reject-far-flung-destinations-in-f-38270
New Zealand – Rental Crisis Looming
Monday, March 8th, 2010
PADZ – A shortage of rental properties could be looming as landlords in New Zealand start to downsize their portfolios. http://www.voxy.co.nz/business/rental-crisis-looming-auckland-property-manager-warns/5/40891
UK Government Plans to Ban Uninsulated Rental Homes
Monday, March 8th, 2010
The Household Energy Management Strategy published last week by the Department of Energy and Climate Change identifies that landlords may be obliged to install roof and cavity wall insualtion to their properties before they can rent them out. http://www.decc.gov.uk/default.aspx
UK’s Biggest Buy-to-Let Landlords are Selling Up
Saturday, March 6th, 2010
Fergus and Judith Wilson, the UK’s biggest buy-to-let landlords are selling up. The former maths teachers amassed 700 homes and their portfolio currently is currently worth an estimated £180m after all debts. http://www.guardian.co.uk/money/2010/mar/06/buy-to-let-fergus-judith-wilson
UK – 245,000 Second Homes Now Owned
Monday, March 1st, 2010
The number of English people owning second homes in England has increased by a further 2.6% in 2009 to 245,000. Many of these second homes will rented out for part of the year, increasing the supply of private holiday rentals properties in the UK – Knight Frank
Dubai – Recovery of the Real Estate Market Still Some Way Off
Monday, March 1st, 2010
Markus Giebel, chief executive of Dubai’s second largest developer, Deyaar, believes that Dubai’s real estate market will begin to recover from 2011 onwards. He says the market has now reached the bottom and that Dubai’s fundamentals are still strong. Property Wire
UK – London Estate Agent Jailed for Identity Theft
Monday, March 1st, 2010
A London estate agent has been jailed for six years after stealing the identities of two people in a £2m mortgage fraud. Estate Agent Today
UK – Interest Rates Expected to Stay Low for 2010
Saturday, February 27th, 2010
The Bank of England’s Deputy Govenor has suggested that UK interest rates will need to remain low in the medium term to counteract an increase in margins being levied by banks. This is good news for landlords and suggests that a sustained period of low mortgage interest payments could be expected. This is Money.
UK – Rental Housing Market Soars to 15%
Saturday, February 27th, 2010
The proportion of UK residents living in rented housing has soared to 10% to 15% over the last ten years, representing an increase of around 1m households over the period. Further details are available in the English Housing Survey
