Experience Invest

Positive news from the House Price Index

Posted Posted in Experience Invest, property investment

Here at Experience Invest, we know that the housing market took another leap forward after the recent general election, but in this blogpost we want to look back a little to March 2015. The Office of National Statistics revealed its House Price Index from March 2015 which contained analysis of the UK housing market including house price inflation and distribution of mortgage advances. The report contains some really fascinating facts and figures for those considering the returns from property investment. It includes encouraging news for those looking at investments in London and beyond. Indeed, one of the most interesting statistics revealed that excluding London and the South East, UK house prices had increased by 8.1% in the 12 months to March 2015. House Prices rise across the country It wasn’t just England that saw house prices rise, according to the Office of National Statistics during the year to March 2015, average house prices increased 9.4% in England (up from 7.7 in the year to February 2015), 5.7% in Wales (up from 1.4%), 14.6% in Scotland (up from 5.3%) and 7.5% in Northern Ireland (down from 14.7%). The figures for Scotland showed the highest increase in Scottish house prices since way back in 2007. A large proportion of the sales of houses in Scotland focussed on properties priced over £500,000. However, it should be noted that the land and buildings transaction tax replaced UK stamp duty land tax in Scotland from 1 April 2015. This could have had a small impact on the market during this time and may have helped to increase prices. House Prices by region We all know that property demand in London and the South is high, however, the Office of National Statistics revealed a positive picture of a rising market across all the regions. Figures in the […]

Rental levels reach new record high

Posted Posted in Experience Invest, property investment

Hello, and welcome back to the Experience Invest blog, in this blogpost we’ll be writing about a recent report that suggests rent for newly let properties in the UK has reached an all-time high. The team at Experience Invest are experts on residential property investment and we weren’t surprised by the latest figures that reveal in August there was a month on month rent rise of 2.5%. This is according to the UKs largest letting agent Countrywide. These figures show that rental levels are at the highest since the index began. Annual Growth The South West saw annual growth in rent for new let properties at 7%, the Midlands saw growth at 6.3%. Annual growth was recorded in all regions bar London.  45% of tenant’s renewing tenancies found their rent increased in August. In London and the South East over half of those renewing tenancies found their rent had gone up. Rents are rising driven by a lack of available housing stock and increased demand from tenants. This borne out by the 8% drop in the number of homes advertised to let in August. With fewer options available, more and more tenants are choosing to renew their tenancies and stay in their current rental property. Average rental rise Most tenants renewing will find that their rental costs have increased by 2.5% on average. The South West and the Midlands saw rents rise faster than anywhere else in the country. Competition for properties is also driving rents higher. It’s estimated that there are now nine tenants registered for every home available to rent, up from 7.5 this time last year.  It seems that more and more tenants are renewing tenancies rather than move, a small rise in rent is preferable to moving out and entering a highly competitive market. Londoners leaving […]