Tag Archives: crisis
Poll shows over half of UK landlords refuse requests to improve energy efficiency
Over half of UK tenants claim their rental property is cold and draughty and 58% say their landlords has refused to make energy efficiency improvements, a new poll shows. Since the beginning of April 2016 tenants living in F and G rated homes have been able to request improvements, such as more insulation and landlords are legally bound to bring the property up to the minimum of EPC (Energy Performance Certificate) E rating. Under the new legislation, if a tenant requests a more efficient home and the landlord fails to comply, the landlord could ultimately be forced to pay a penalty notice. The survey, conducted by online letting agent PropertyLetByUs, found that seven out of 10 tenants have indeed made requests to their landlord to make improvements to the property but over half have been refused. The survey also found that 76% of tenants claim the property they rent has an old gas boiler, which is unreliable and 48% say their property does not have double glazing. According to data from the European Union it is estimated that over 10 million British families live in a home with a leaking roof, damp walls or rotting windows. Damp, condensation and mould is a big problem in many rental properties as a result of older, single glazed homes. Jane Morris, managing director of PropertyLetByUs, said it is very disappointing to see that so many tenants have been refused when they have requested their landlords make improvements to the property. ‘Landlords that are trying to rent cold, draughty and damp accommodation should immediately start improving their properties. Otherwise, they could be falling foul of the legislation that requires them to bring their properties up to an E rating,’ she explained. ‘It is estimated that around one million tenants are paying as much as £1,000 a year more for heating than the average annual bill of £1,265. These excessive costs are mainly down to poorly insulated homes, many of which are thought to be the oldest and leakiest rental properties in Europe,’ she pointed out. ‘Landlords that are currently renting out F and G rated properties should be looking at the improvements they can make and researching costs and available help, through the Energy Saving Advice Service (ESAS) or Home Energy Scotland,’ she added. Continue reading
Over 82,500 sales recorded in England and Wales in June
More than 82,500 residential and commercial land and property sales in England and Wales were lodged for registration in June 2016, according to the latest data to be published. Of the 82,530 sales lodged for registration 60,249 were freehold and 9,000 were newly built, the figures from the Land Registry show. Some 442 were residential sales in June 2016 in England and Wales were for £1 million and over and 283 were residential sales in June 2016 in London for £1 million and over, the data also shows. A breakdown of the figures shows that of the total sales 18,910 were detached properties, 20,987 were semi-detached, 23,485 were terraces, and 17,599 were flats or maisonettes. The most expensive residential sale in June 2016 was of a terraced property in the City of Westminster in London which was sold for £16.9 million while the cheapest residential sale was a terraced property in Bishop Auckland, County Durham, which sold for £12,500. The most expensive commercial sale in June 2016 was also in the City of Westminster, London for £65 million and the cheapest commercial sale in June 2016 was in Bassetlaw, Nottinghamshire for £1,000. Continue reading
Price of a home for first time buyers in England up 28% in last four years
First time buyers in England are now paying out an average of just over £196,000 for their home, a rise of £42,451 or 28% over the last four years, new research shows. Over the same period the average house price has increased by 26%, highlighting the ever growing obstacle many first time buyers face getting onto the housing ladder, according to the report from hybrid estate agent eMoov. The situation is harder in London where the current price paid on average by first time buyers is £462,602, by £54% since up 2012 while at £86,116, County Durham in the north east of England offers the best value for those looking to get on the property ladder. Durham has struggled in recent times where the property market is concerned, with low demand seeing prices drop, although this has at least benefited first time buyers in the area, the report says. But prices have increased by just 3% or £2,600 since 2012, the lowest across England. In London even the top five most affordable boroughs have average house prices for first time buyers well above the UK average. The most affordable at £254,600 is Barking and Dagenham, followed by Havering at £281,836, Bexley at £285,464, Croydon at £301,001 and Sutton at £312,978. In 2012 the average first time buyer price for each borough was below £200,000, but since then first time buyers in each of these five boroughs seen an increase of between £95,000 and £118,000. Kensington and Chelsea at £1.1 million is the most expensive borough in the capital for first time buyers, followed by Westminster at £906,882, the City of London at £711,009, Camden at £669,020 and Hammersmith and Fulham at £690,296. The highest prices for first time buyers outside of London are Surrey with an average of £323,973, Hertfordshire at £305,043, Berkshire at £292,227, Oxfordshire at 286,962 and Buckinghamshire at £286,511. These areas have seen first time buyer prices rise by between £80,000 and £96,000 since 2012. ‘First time buyers are paying almost as much as second and third steppers in actual price terms yet the percentage increase in first time buyer properties is tracking at even greater than regular house prices. It really does highlight the issue facing the nation's next generation of aspirational home owners,’ said Russel Quirk, chief executive officer of eMoov. ‘How the government expect anyone to get on in life when the first hurdle they face is all but unobtainable, to begin with, is beyond me, especially in London. Over 90% of the capital’s boroughs have seen the price paid by first time buyers increase by more than £100,000 in just four or so short years,’ he pointed out. ‘We must address this issue and find a way to bring home ownership back in reach of the average home buyer, not just in London, or the surrounding commuter counties, but to the whole of England,’ he added. Continue reading
