Posts with tag: renting in the UK

UK cities ranked by reviews to determine best landlord locations

Published On: February 2, 2021 at 9:32 am

Tags: ClearItWaste,renting in the UK,uk cities

UK cities ranked by reviews to determine best landlord locations

Research from ClearItWaste, the London waste collection service, analysed landlord reviews to create a points-based index revealing which city has the best landlords.

Collating landlord ratings from Yell, Google, and website Marks Out of Tenancy, the company has ranked UK cities.

ClearItwaste says that they looked at 20 of the most populated cities in the UK. All ratings were transformed into a score out of 100 points, which was then averaged per city. The company also used Google Ads to find the average monthly search volumes per city for terms such as ‘landlord issue(s)’ and ‘landlord problem(s)’.

The scores from the four criteria were then added together to calculate an overall score out of 400 points.

The top five best scoring cities were Sheffield (358/400 points), Bristol (295/400 points), Birmingham (295/400 points), London (284/400 points), and Glasgow (232/400 points).

The joint-worst scoring cities were Derby and Kingston upon Hull, each scoring 58/400 points.

Full list of rankings for 20 UK cities

City	Marks out of tenancy	Yell Review	Google Review	Search Volume per 10,000 Population	Final Score
Sheffield	84	89	100	84	358
Bristol	84	53	95	63	295
Birmingham	53	84	63	95	295
London	53	100	32	100	284
Glasgow	84	0	58	90	232
Leicester	53	79	21	69	221
Leeds	21	63	79	53	216
Edinburgh	53	26	63	58	200
Bradford	42	74	37	42	195
Manchester	21	47	47	74	189
Nottingham	53	16	89	26	184
Stoke-on-Trent	84	5	84	5	179
Coventry	0	68	53	47	168
Liverpool	53	37	0	79	168
Belfast	21	95	11	32	158
Cardiff	42	11	37	37	126
Southampton	16	16	63	21	116
Newcastle upon Tyne	21	58	16	16	110
Derby	0	42	5	11	58
Kingston upon Hull	0	32	26	0	58

Half of UK renters over the age of 46

Published On: September 20, 2016 at 8:49 am

Author: Em Morley

Categories: Property News

Tags: renters,renting in the UK,tenant ages,tenants

Latest data released from estate agents Your Move has revealed that nearly half of the total number of renters in the private rental sector in Britain are over the age of 46.

This result came from research of 36,500 participants, with the investigation commissioned to give a further insight into the 4.5m privately rented households in Britain.

Renting results

The research uncovered that 18% of renters are over the age of 55, with 22% in the 46-55 age bracket. Somewhat surprisingly, 39% of people in the private rental sector are under 35.

Of those questioned, 25% of 18-25 year olds said that they were happy with renting, with 80% longing for their own home in the future. For those over 55, 46% said they were happy with renting and only 19% wanted to own their own property in the future.

For all age groups, 81% of tenants said that renting suited their lifestyle, either permanently or for a few years.

Half of UK renters over the age of 46

Important

Valerie Bannister, Head of Lettings at Your Move, noted: ‘these results show very clearly that renting is becoming extremely important across the UK. The rise of the Silver Renter may seem surprising, but increasingly thousands of people have turned to the Private Rental Sector as the most convenient option available to them, following a change in personal circumstance. Now more than ever, it is important that this sector offers good quality, well managed properties that allow tenants to feel at home in them.’[1]

‘Many of the younger tenants in our survey have aspirations to own their own home in the future. However, the endemic lack of affordable housing to buy across the UK, coupled with a low savings-rate environment, is making it increasingly difficult for want-to-be homeowners to buy their first home,’ she continued.[1]

Concluding, Bannister said:’ the Private Rental Sector needs to answer this issue by becoming a first choice tenure and not just the second best option. If the flexibility of renting can be combined with the stability and reassurance of longer residencies and fewer restrictions around making the space feel like home, for many, renting would be considered a better long-term, as well as short-term option.’[1]

[1] http://www.propertyreporter.co.uk/landlords/almost-half-of-uk-renters-are-now-aged-over-46.html

Renting in UK is More Expensive than Anywhere Else in Europe

Published On: July 1, 2015 at 12:51 pm

Author: Em Morley

Categories: Landlord News

Tags: private rental sector UK,rental market,renting in Europe,renting in the UK

Renting in UK is More Expensive than Anywhere Else in Europe

Private tenants in the UK are paying higher rents than anywhere else in Europe, spending a larger proportion of the average wage on accommodation, revealed research by the National Housing Federation (NHF).

The average UK rent is £750 (€902) per month. The European average is just £400 (€481) a month, found the NHF, which represents housing associations.

Renting privately in the UK costs around 40% of a tenant’s income, comparing to the average of 28% in Europe.

Renters in Spain are the only ones that are close to the UK average, with their typical rent of €622 a month accounting for 39% of their income. In Germany, the average monthly rent of €600 is just 25% of the average wage.

Chief Executive of the NHF, David Orr, comments: “Not only do British renters face crippling rents, but they have almost no certainty about whether they will be able to stay in their home from one year to the next.”¹

The average UK rent vs. European averages

Country	% of income spent on rent	Average monthly rent
UK	39.1	€902
Switzerland	31.9	€922
Spain	39	€622
The Netherlands	28.5	€625
Germany	24.8	€600
France	29.5	€598
Sweden	34.8	€500
Malta	29	€461
Romania	34.7	€333
Slovakia	13.2	€239

Short-term tenancies in the UK mean that 77% of renters in Great Britain and Northern Ireland moved house in the last five years, compared to 43% across Europe.

This data arrives after the Halifax revealed growing numbers of aspiring first time buyers are moving back in with their parents, despite record low mortgage rates and a rising availability of mortgages for those with low deposits.

The Halifax, who surveyed 1,000 parents of 20-45-year olds, found that 28% have taken their children back into the family home, compared with 24% in 2012.

However, super low mortgage rates are enabling thousands of buyers to purchase a home, if they can save a large deposit. Research released from the British Bankers’ Association (BBA) revealed that the amount of people who were granted a new mortgage in May increased to the highest level since March 2014.

On the BBA figures, Richard Sexton, Director of chartered surveyors e.surv, says: “Borrowers finally have more money in their pockets as inflation remains limited and wages are experiencing a tangible rise. Meanwhile, lenders continue to offer an increasing number of products to borrowers with smaller deposits, at record low rates.”¹

However, the NHF also found that increasing property prices mean that two thirds of first time buyers are dependent on financial help from their parents for buying their first home.

¹http://www.theguardian.com/money/2015/jun/24/uk-tenants-pay-more-rent-than-europe