BOOM! Rental activity jumps as Covid relaxation prompts city revival

UK rents outside London are up 3% since this time last year, signalling the highest level of ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - BOOM! Rental activity jumps as Covid relaxation prompts city revival | LandlordZONE.

BOOM! Rental activity jumps as Covid relaxation prompts city revival

UK rents outside London are up 3% since this time last year, signalling the highest level of growth in four and half years.

Rents are rising fastest in the North East (+5.5%) and the South West (+5.3%) – the strongest rates of growth in a decade amid increased demand and constrained supply – according to Zoopla’s quarterly Rental Market Report.

It reveals that rental performance outside London was driven by a 59% rise in demand during April compared to the same month in 2017-19.

It says Covid’s impact was felt most acutely in city centre rental markets where stock moved over from short-term lets and more rental stock came back to the market amid easing demand.

Rents are still down by 0.7% in Leeds, -1.1% in central Manchester, -3.2% in central Edinburgh and -9.9% in inner London.

Soaring demand

But the city centre downturn is starting to reverse as the economy opens up; renter demand was up 26% in central Edinburgh, 12% in central Leeds, 7% in inner London and 5% in central Manchester in the month after Easter.

Zoopla says demand in the capital is being fuelled partly by a sharp improvement to affordability, with rents down -9.4%.

Agents are reporting an increased number of longer-than-average tenancies – in excess of 12 months – being agreed.

Chestertons says demand is so strong that some properties are being let off-market, while those that have been listed, secured new tenants within two weeks and often after just one viewing. 

Rental property supply in most markets is failing to keep up with demand.

The number of properties bought using a buy-to-let mortgage was 45% lower in 2020 than in 2015, and the number of homes in the sector has fallen slightly since 2016 as landlords rationalise their portfolios in the face of tax changes and additional regulation.

Zoopla’s head of research, Gráinne Gilmore (left), says: “Demand will continue to rise in city centres as offices start to re-open and this, coupled with increased affordability levels in many cases, will start to counter the negative pressure on rents seen over the last 12 months.”

Read the report in full.

Read more: London’s rental market due a revivial.

©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - BOOM! Rental activity jumps as Covid relaxation prompts city revival | LandlordZONE.

Source : Landlord Zone More   

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Tenant on the run following ‘reckless’ attempt to implicate landlord’s partner in terrorist attack

A tenant who tried to frame his landlord’s partner for the 2017 Westminster Bridge terrorist attack following ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - Tenant on the run following ‘reckless’ attempt to implicate landlord’s partner in terrorist attack | LandlordZONE.

Tenant on the run following ‘reckless’ attempt to implicate landlord’s partner in terrorist attack

A tenant who tried to frame his landlord’s partner for the 2017 following a dispute over his tenancy has been convicted of perverting the course of justice.

Gerald Banyard (pictured), who lives in Lancashire, tried to implicate his Sussex landlord’s partner by sending package to police stations in Brighton and Eastbourne implicating him in the terrorist atrocity in London.

Although he has been convicted, Banyard did not attend his hearing at Southwark Crown Court this week and a warrant has been issued for his arrest.

His actions followed the attack by Khalid Masood during which he ploughed his car into pedestrians on the bridge and then killing an unarmed police officer outside the Houses of Parliament, Keith Palmer.

“Banyard looked to exploit an extremely tragic and serious situation to try and settle what was a private dispute with his landlord,” says Commander Richard Smith, head of the Metropolitan Police Counter Terrorism Command.

“His actions meant that counter-terrorism resources were diverted to investigate what turned out to be a completely fabricated story which implicated an innocent man.

“His actions were disgraceful and completely reckless.”

Innocent

After the packages were sent, counter-terrorism detectives questioned the landlord’s partner and confirmed he was completely innocent.

He identified Banyard as a possible suspect because he was involved in a tenant-landlord dispute with his partner.

A handwriting expert confirmed that Banyard had written the notes sent to police.

©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - Tenant on the run following ‘reckless’ attempt to implicate landlord’s partner in terrorist attack | LandlordZONE.

Source : Landlord Zone More   

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