UK Lettings and Sales market reports

Rentals

 Data from the Index of private Housing Rental Prices (August 2019) suggests that rentals have not increased as a result of the Tenant Fees Act. Yet. However UK Rental prices have increased by nearly 8% since January 2015

•  Private rental prices paid by tenants in the UK rose by 1.3% in the 12 months to August 2019(but were unchanged since May 2019.)
• London private rental prices rose by 0.8% in the 12 months to August 2019.
• Tenant Demand is increased for 8th month in succession
• Rental expectations are positive given the consistent imbalance between rising demand and falling supply

The Index of Private Housing Rental Prices (IPHRP) measures the change in the price tenants face when renting residential property from private landlords. This allows a comparison between the prices tenants are charged in the current month as opposed to the same month in the previous year. The index does not only measure the change in newly advertised rental prices, but reflects price changes for all private rental properties.

Growth in London

London private rental prices increased by 0.8% in the 12 months to August 2019. The Royal Institution of Chartered Surveyors (RICS) reported in their September 2018 Residential Market Survey that tenant demand has staged a sustained recovery in London, increasingly outstripping supply. These effects may be now starting to feed through to the Index of Private Housing Rental Prices

 Sales

 The RICs residential market survey (Aug 2019) shows:

•  Near term sales expectations slip deeper into negative territory
• New instructions and buyer enquiries broadly flat
• Demand for lettings continues to rise against a backdrop of falling supply
• House prices largely unchanged (London & South East report a decline)

 The August 2019 RICS Residential Market Survey results point to a renewed deterioration in near term expectations, with respondents anticipating a decline in activity over the next three months. Brexit uncertainty is again highlighted as a significant factor causing hesitation amongst buyers and vendors. Nevertheless, a more stable trend in sales is envisaged at the twelve month horizon