D_Property

Private renting in the capital will match the levels of homeownership in London by 2025 – just eight years away, according to a new report from the Mayor of London.

The study, titled Housing in London: 2017, will form the basis for the Mayor’s forthcoming London housing strategy.

It shows that private renting was once the single largest housing tenure in London, but shrank from 46% of all households in 1961 to just 14% in 1991, a decline that was similarly matched across the rest of the country.

By 2011 – the latest date quoted in the report – the private rental sector accounted for 26% of all London households.

In contrast, social housing made up 35% of housing in the capital in 1981, before dropping to 24% in 2011.

The Mayor of London’s new report, which will provide evidence for his key strategy, forecasts both social renting and homeownership to continue falling in the capital, while private renting will grow.

By 2025, it expects both private renting and homeownership to each account for 40% of all London households, while social renting will make up just 20%.

The 114-page report analyses historical data on housing tenures in the capital, certain demographic, economic and social trends, before addressing the crisis that is now blighting Londoners.

It assesses housing supply and the number of empty homes, the costs of buying and renting a home, along with the serious issue of affordability, and the need for housing across the capital. In addition, the study considers mobility and decent homes.

Source: https://landlordnews.co.uk

March 15, 2017
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Private Renting to Match Homeownership Levels in London by 2025

Private renting in the capital will match the levels of homeownership in London by 2025 – just eight years away, according to a new report from the Mayor of London. The study, titled Housing in London: 2017, will form the basis for the Mayor’s forthcoming London housing strategy. It shows that private renting was once the single largest housing tenure in London, but shrank from 46% of all households in 1961 to just 14% in 1991, a decline that was similarly matched across the rest of the country. By 2011 – the latest date quoted in the report – the private rental sector accounted for 26% of all London households. In contrast, social housing made up…
March 15, 2017
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Mayor of London gives go ahead for hundreds of homes denied planning by councils

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March 14, 2017
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Build-to-rent could deliver 240,000 new homes by 2030

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March 13, 2017
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Research reveals how much a home ‘earns’ for an owner

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March 13, 2017
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Surge in house prices see fastest rise in 12 months

The latest data from Your Move has revealed that house prices grew at their fastest pace for 12 months in February, with average prices increasing 0.6% – double the rate in January According to the report, strong performance in the East of England, new peak prices in Merseyside and Birmingham, and a return of growth in high value London property pushed average prices up to £297,832. Despite this boost, annual house price inflation continued to fall for the twelfth consecutive month, dropping to 2.4%, the lowest annual rate since 2013. Estimated transactions in England and Wales in February, at 62,000, are also down 0.4% on January, but year-to-date remains higher than in 2015 and 2013. A…
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UK property market growth continues to rise modestly apart from in London

Modest growth is continuing in the UK property market but the outlook is less positive in London than the rest of the country, according to the latest report from chartered surveyors. Some 24% have seen a rise rather than a fall in prices over the past three months and the North West was seen to have performed particularly well with a net balance of 64% reporting rising prices. However, central London bucked the growth trend with 62% of respondents saying that prices had fallen rather than risen during the same period. But it is in the private rented sector that the biggest change is likely with the report from the Royal Institution of Chartered Surveyors (RICS)…
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