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Anti-landlord policies causing rent rises, says agent

Tenants face the first rises in market rents since the autumn, as the private rented sector braces for anti-landlord policies, according to the latest Buy-to-Let Index from Your Move and Reeds Rains.
Average rents are now rising on a monthly basis for the first time since September 2015, up 0.1% between January and February.
Rents across England and Wales now stand at £791 per month as of February, 3.3% higher compared to this point last year – or an extra £25 per month for the average tenant.
Adrian Gill, director of lettings agents Your Move and Reeds Rains, said: “Spring is here for the rental market. Rents are rising and demand is growing. In a warming market, tenants are beginning to feel the heat when signing new tenancies.

“Landlords are increasingly deliberate in their actions and savvy in their business decisions. But all landlords investing steadily in new property to let are the heroes of the buy-to-let industry, not the villains. Thanks to the business acumen and persistence of landlords, Britain’s private rented sector has become home to millions of households and the only real backstop against the weakness of other tenures.
“All landlords, regardless of the number of properties they own, want to provide a quality service as part of earning a reliable return on their investment. For those with the right advice, this is part of operating a successful business model. Avoiding void periods and ensuring a good relationship with reliable tenants is essential. So it is hard to understand the logic behind restricting the flow of new investment, and the competition between existing landlords. 
“Additional taxes on the purchase of new buy-to-let properties will not support the stated aims of these policies – namely to improve home ownership. By attacking buy-to-let, the government will only serve to push up market rents more quickly, stymieing the efforts of many tenants to raise a deposit to buy a home – while also boosting returns for existing landlords with the best advice to navigate new complications.”

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    GO must go!

  • G romit

    George Osborne only have a degree in History, and no economics qualifications whatsoever, but he's a past master in sophistry and specious argument.

    I also have a suspicion he's the author of "The Bluffer's Guide to being the Chancellor" and "Bluff Your Way into No.11" but cannot confirm this.

  • icon

    Just how many times does his budget issues get kicked out before he is....

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    • A G
    • 22 March 2016 10:42 AM

    i took the tax changes on the chin, but the more GO says the more i don't like him. I would rather have had a rent rise cap than a turn over tax.

  • Fake Agent

    Osborne - the master tactician and strategist apparently - is really a political and intellectual lightweight with no warmth, compassion or idea of how ordinary people live. He's so out-of-touch it's scary. And he can't even fake sincerity in the way Cameron can, or bluff and bluster to hide his inadequacies like Boris. He's both unlikeable and incompetent. The last budget was a stinker, this one was even worse. It makes 2012's Ominshambles look quite brilliant in comparison.

    The Tories are slowly but surely being found out. They lied to the electorate before the GE and won off a campaign of scare stories and negativity. Now they are reaping what they've sown. Their chickens are very much coming home to roost. Their compassionate conservatism - an oxymoron if ever there was on - is being unmasked for the load of shallow, hollow nonsense that it is.

    This government think people are stupid and treat us with disdain. Osborne should go - he should do the honourable thing and resign - but he won't. He's too pig-headed, born to rule and arrogant for that.

    Anyway, rant over...I'm for a lie down!

  • icon

    Of course the new legislation will cause rent rises. We know this but GO clearly has not a clue. He will be wondering why business falls off in the middle of summer and just before Christmas next but we know it does and always will because generally we are good at our jobs. Shame the elected few in parliament get given jobs they no nothing about. Remember Grant Schapps?


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