Posts with tag: lettings market

StudentTenant moves into Mainstream Market with ClickTenant

Published On: October 27, 2017 at 9:40 am


Categories: Lettings News

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Online student property expert has launched a brand new online letting agency for the wider residential market –

The new business is offering the first let for free on all new properties, and then a hugely competitive pricing model after that to source tenants and manage landlords’ properties.

ClickTenant has been introduced in the midst of increasing costs and reduced tax relief for landlords, in the hope that it will provide a much more cost-effective and efficient service. The website uses technology to streamline the entire property lettings process.

StudentTenant moves into Mainstream Market with ClickTenant

StudentTenant moves into Mainstream Market with ClickTenant

Danielle Cullen, who has been the driving force behind StudentTenant’s success over the past three years, is the Managing Director and Co-Founder of ClickTenant.

She says: “We have automated a lot of the arduous administrative processes, making the customer journey much more efficient and streamlined. It also significantly saves our staff’s time, meaning less will be needed, allowing us to pass the savings onto the landlords. Viewings and bookings can be managed online, credit checks can be carried out in a few clicks, and an array of additional services can be obtained through instant quoting systems from partner integration.”

ClickTenant believes that its main competitiors will be high street letting agents, who currently control 94% of the sales and lettings markets.

Cullen continues: “Whilst the market is slightly more saturated compared to the student sector, we see our main competitors as the expensive high street letting agents. Online letting agents still only make up just 6% of the current market, giving huge growth potential.

“ is also one of very few platforms that are heavily tenant focused. We wanted to include very dominant and innovative search tools for tenants on the homepage, to encourage more actions to be carried out on our site. Many competitor websites rely solely on partner platforms to generate leads, but we wanted to concentrate on building our own brand and creating a platform that consumers will recognise.”

The new website has different advertising tiers. The most basic package offers advertising on major property portals Rightmove and Zoopla, as well as a credit check on all incoming tenants. The first let will be free for all properties, and the business will only charge a success fee thereafter, unlike many other platforms, where upfront fees are required to advertise.

The new business can also assist with the formulation and signing of tenancy agreements online, deposit collection and full property management, including British Gas maintenance cover – all at a fixed price.

Another of the Co-Founders of ClickTenant, Simon Vaughan, comments: “Although is a new venture, we’ve got a wealth of experience in operating a national online property business. Our team have been doing this successfully in the student sector for a number of years now.

“Through, we’ve learnt that providing a great service by working very closely with our customers is key. The ethos of will be to work in partnership with landlords. We are prepared to list their properties for free and, in return, we ask that they advertise our business – either through a post on social media or by word of mouth. We know the importance of building strong relationships from the outset.”

He concludes: “We see huge potential for growth in what we are offering. What landlord wouldn’t want to advertise their property on all of the major portals for free and have the tenant credit checked? We are also able to offer full letting agent services, at a price that we haven’t found anyone else to be matching.”

If you’re looking to market a rental property, why not check them out?

Rents Rising Fastest in the North West, Reports Your Move

Published On: October 27, 2017 at 8:41 am


Categories: Property News

Tags: ,,,,

Rents Rising Fastest in the North West, Reports Your Move

Rents Rising Fastest in the North West, Reports Your Move

Most areas of England and Wales have seen rent price growth over the past 12 months, with the North West seeing the fastest rising rents in the year to September, according to the latest Buy to Let Index for England and Wales from Your Move.

On a non-seasonally adjusted basis, the average rent charged to tenants was £938 per month in September. On a seasonally adjusted basis, the average rent price was £843 per month, which is higher than the £841 recorded in August and 3.2% up on the same month last year.

On an annual basis, the North West experienced the fastest rising rents, having increased by an average of 3.6% to reach £633 per month, followed by the East Midlands, where prices were up by 3.4% to £646, while the East of England completed the top three, with prices having jumped by 2.9% in the year to September to reach an average of £880.

By contrast, rents in the South West have dropped by an average of 2.2%, while the North East has seen prices decline by 0.3%. These were the only two regions to record a year-on-year decrease in September.

Unsurprisingly, London remained home to the highest rents in the country in September, at an average of £1,280 per month. However, this headline figure continues to mask vast differences across the capital.

The typical rental yield for landlords remained at 4.4% in September, which is down on the 4.8% recorded in the same month last year.

Properties in the North East enjoyed the highest yields, at an average of 5.1%. In the North West, the average return was 5.0%. These were the only two regions to record yields above the 5% mark in September.

The National Lettings Director for Your Move, Martyn Alderton, comments on the report: “Once again, the strongest rent growth was found in the areas away rom London and the South East. As activity in the capital slows, prices and activity have risen in the north.

“There was a stellar performance in the North West, with rents increasing by 3.6% over the year and landlords seeing a high yield rate of 5.0%.”

He adds: “Yield levels have started to stabilise across surveyed areas after being squeezed at the start of the year. This is good news for landlords and demonstrates the resilience of the sector.”

Further Increase in New Lettings Listings Recorded in September

Published On: October 19, 2017 at 9:05 am


Categories: Property News

Tags: ,,

A further increase in new lettings listings was recorded in September, according to the latest Property Activity Index from Agency Express.

Across the UK, the number of new lettings listings rose by 0.9% over the month to September, yet the amount of properties let during September dropped for a second consecutive month, by 2.8%.

Further Increase in New Lettings Listings Recorded in September

Further Increase in New Lettings Listings Recorded in September

Looking at the index’s rolling three-monthly data, figures remain down, with new lettings listings dropping by an average of 1.9% and the number of properties let down by 1.2%.

Around the country, seven of the 12 regions included in the Property Activity Index recorded growth in new lettings listings, while five saw increases in the amount of properties let during September.

The month’s top performer was the North East. Following a slumber market in August, lettings activity bounced back, returning robust growth for both new listings, which were up by 17.8%, and the number of properties let, which rose by an average of 20.9%.

Wales followed suit, reporting a record best increase in the amount of properties let during September, which was up by 18.6%.

Other regional hotspots included:

New lettings listings 

  • South West: +8.4%
  • North West: +7.1%
  • East Midlands: +6.4%
  • East Anglia: +4.4%

Properties let

  • Wales: +18.6%
  • East Anglia: +9.2%
  • West Midlands: +1.7%
  • East Midlands: +1.7%

The greatest declines witnessed over September were in Scotland. On a monthly basis, the number of new lettings listings dropped by 17.9%, while the amount of properties let during the month was down by 16.2%. Looking over Agency Express’ historical records, the decreases recorded this September are greater than those experienced in 2016 and 2015.

The Managing Director of Agency Express, Stephen Watson, comments: “This month, we have witnessed some growth across the UK lettings market. One or two regional pockets have reported record bests, while others performed consistently.

“The index’s rolling three-monthly data does show that we are still recovering from the slower pace experienced during June and July, but, as we move into October, we would hope to see further increases.”

Rent Prices Down Across Britain, Driven by the South

Published On: October 9, 2017 at 9:19 am


Categories: Property News

Tags: ,,,

Asking rent prices have dropped across the UK in the third quarter (Q3) of the year, driven by declines in the south, according to the latest report from Rightmove.

Rent Prices Down Across Britain, Driven by the South

Rent Prices Down Across Britain, Driven by the South

Historically, asking rents for new properties coming onto the market rise in Q3, as it is typically one of the busiest times for the lettings market. However, the latest Rental Trends Tracker from the property portal shows that rents are down, as supply starts to exceed demand.

The average asking rent was down by 0.2% in Q3, driven by a 2.3% decline in the South East, where rents were down for the first time in six years. Outside of London, the average asking rent is now £789, down from £790.

The Head of Lettings at Rightmove, Sam Mitchell, says: “Since last April’s second home Stamp Duty changes came in, the supply of new rental properties in the South East has been steadily increasing, up 5.5% on this time last year.

“Agents are reporting that some investors looking for better yields are shifting their focus from London to instead buy in the surrounding counties of Surrey, Berkshire and Buckinghamshire.

“The increase in stock in the South East has led to softening in rents in some areas where there is less competition among tenants, but they are holding up in key commuter areas where tenant demand is strong.”

In London, asking rent prices are at their lowest for this time of year since 2013, at an average of £1,920 per month, from £1,934 – down by 0.7%.

While the decline seen in the South East is due to increasing supply, the picture is different in the capital, where new listings were down by 3.7% on Q3 2016.

Mitchell adds: “Last year, the supply of rental properties in London increased as much as 26% when investors rushed to buy ahead of the Stamp Duty changes, leading to cooling rents over the last 12 months in the capital.

“Now, it appears that rental investors are starting to move their money away from London, with a number of agents across London saying that investors are being replaced by first time buyers. This is likely to constrict rental supply in the capital and lead to rents increasing again, so now would be a good time for prospective tenants to act, before this happens.”

In every region but the South East, London, and Yorkshire and the Humber (where rent prices dropped by a slight 0.2%), asking rents rose by up to 2.6%.

Rents Up Across England, Wales and Scotland in August

Published On: September 29, 2017 at 8:10 am


Categories: Tenant News

Tags: ,,,

Rent prices rose across much of England, Wales and Scotland over August, according to the latest Buy-to-Let Indices from Your Move and Your Move Scotland.

Annual changes

The average rent in England and Wales during August was £904 per month, following annual growth in nine out of ten regions. This was caused by a rising number of tenants and the ongoing demand for more properties putting pressure on rent prices.

Rents in both the East of England and North West rose faster than any other region over the month. Both areas saw the average price increase by 3.2% in the 12 months to August. In the East of England, the average rental property let for £876 per month in August, while the average rent in the North West was £631. Close behind was the South East, where prices rose by 3% year-on-year, to stand at £882.

The South West was the only region to record a decline in rents over the past year. The average price in August was 2.7% lower than a year ago, standing at £667 a month. However, rents in the North East remain the lowest in England and Wales, at an average of £540.

London continues to be the region with the highest average rent, at £1,282 per month, following a 1.5% increase over the year. However, this headline figure masks large differences across the capital.

The average rental property in London’s Zone 2 is £1,952 – significantly higher than areas further from the centre. By comparison, the average rent in Zone 4 is £1,176 and £1,132 in Zone 5.

Rents Up Across England, Wales and Scotland in August

Rents Up Across England, Wales and Scotland in August

New tenant registrations have risen by around a quarter in London over the past 12 months. Your Move reported a drop-off in activity in the wake of the Brexit vote last summer, but the market has now returned to its usual activity levels.

Monthly changes

On a monthly basis, no region saw significant growth in rents between July and August. The best performers were the South West and Yorkshire and the Humber, where prices grew by an average of 0.4% month-on-month.

Three regions recorded a decline in rents between July and August – they were down by an average of 0.5% in the East of England, 0.5% in Wales and 0.1% in the North East.

Rental yields

Rental yields for landlords remained flat in most parts of England and Wales during August, Your Move found. The North East was the only region to see yields drop on a monthly basis, falling from an average of 5.2% to 5.1%.

However, landlords and property investors in the North East continue to enjoy higher returns than in any other region.

The North West, where the average yield was 5% during August, was the only other area to post a return of 5% or more. In London, the average yield was 3.2% in August – the lowest recorded. However, this return has remained steady throughout 2017.

Apart from the North East, each of the nine other regions saw yields remain level between July and August. The average yield across England and Wales now stands at 4.4% – the same as last month. However, this is down on the 4.9% recorded this time last year.

On an annual basis, each of the regions in this survey recorded lower yields than 12 months ago.

Tenants’ finances

The proportion of tenants in rent arrears fell in August, as the overall financial picture of the rental market improved. Your Move found that the percentage of households in England and Wales in arrears was 12.8% – lower than the 13.7% recorded in July.

The number of tenants in arrears remains below the all-time high of 14.6%, seen in February 2010.

The Director of Your Move, Richard Waind, says: “The strongest price growth continues to take place outside of London and the South East, with the East of England and the North West among the regions to grow faster in the last year. However, despite rising rents, the yields achieved by landlords continue to be squeezed.

“Following a drop-off in new tenant enquiries after the Brexit vote last year and a resulting decrease in EU migration figures, we have started to see a resurgence in tenants coming to the market in recent months, particularly in London. Figures are returning to the levels that we would expect around this time of year, with August and September being the busiest months for lettings, as students, graduates and families working in the education sector look for new properties.”

He adds: “This recovery in tenant enquiries, combined with continued subdued supply of new listings in the wake of recent tax changes affecting landlords, has been a key reason for price increases in the last year and could push rents up further in the coming months.”


Average rents grew in four out of five regions in Scotland during August, taking the typical price to £579 per month – up by 0.7% on July and 0.5% on an annual basis.

Demand for rental properties continues to grow, causing prices to rise slightly at the end of the summer, due to restricted supply in popular areas.

The Glasgow and Clyde region was the only region to post a year-on-year decline, falling by 4.1% in the 12 months to August.

Edinburgh and Lothians remains the area with the highest average rent, at £666 per month – 4.1% higher than in August 2016.

At the opposite end of the scale, the East of Scotland region was home to the lowest average rent in August, at £540, although this is 2.5% higher than a year ago.

Screen Shot 2017-09-28 at 14.12.09

Across all of Scotland, landlords and letting agents should be preparing for the introduction of the Letting Agent Code of Practice in early 2018.

From 31st January 2018, agents in Scotland will be able to declare themselves compliant with this new legislation and join a Register of Letting Agents.

These changes are expected to cause significant disturbance for smaller agencies, with many expected to close or leave the market. Your Move Scotland is urging all landlords and property investors to enquire with their agent to ensure that they will be compliant with the new rules.

Letting agencies must have submitted an application to join the Code of Practice by 30th September 2018. From that point, it will be a criminal offence to conduct letting agency work if you aren’t on the register. Those breaking the rules could face a fine of up to £50,000 and up to six months’ imprisonment.

The rules are intended to increase professionalism in the sector, and make sure that agents are properly able to handle money received from both tenants and landlords.

Those invested in Scottish property once again received impressive returns in August. The typical property gave a 4.9% yield – exactly the same as in July. This is also the same rate of return as recorded in August 2016.

Throughout 2017, returns on Scottish property have been between 4.9-5%. This demonstrates the stability offered by the rental market in Scotland and the positive returns on offer to investors.

Looking at the whole of Scotland, around 10% of all tenancies had arrears of one day or more during August. This rate is a significant improvement on the previous month, when a rate of 16.6% was recorded, and on June’s arrears rate of 18.3%.

In real terms, the number of households in serious arrears – defined as two months or more – was 7,939 in August.

The Lettings Director at Your Move Scotland, Brian Moran, comments: “Rental prices are increasing across much of Scotland, thanks to high levels of demand and poor supply in many areas, with particular strain in Edinburgh, which saw prices rise by 4.1% over the year.

“Scottish landlords continue to see returns of close to 5%. It’s crucial that all landlords in Scotland start to prepare for the changes on
the horizon, such as Letting Agent Code of Practice, which is due to commence in early 2018.”

He adds: “Landlords should be talking with their agents now to make sure they are prepared for the changes and understand what it means for them, sooner rather than later.”

PCL rents unchanged during August

Published On: September 8, 2017 at 9:07 am


Categories: Property News

Tags: ,,,

Average rents in the Prime Central London residential property market were consistent for the second straight month in August, according to the latest report from Knight Frank.

The firm’s monthly review shows that average rental values fell by 3.4% in August, the slowest decline in over 12 months.


A decline of 1% in the six months to August was also the lowest fall on this basis since December 2015.

Tom Bill, head of London residential research at Knight Frank, noted that the figures provide further evidence that a recent run of declines in the lettings market is starting to level out.

Bill said: ‘The fall in rental values in prime central London over the past two years has primarily been due to high levels of stock, which means that landlords have had to reduce rents in order to attract tenants.’

‘Higher levels of rental properties are the result of slower activity in the sales market following a succession of tax hikes, however this trend has started to reverse as asking prices adjust and demand improves,’ he continued.[1]

PCL rents unchanged during August

PCL rents unchanged during August


In addition, Mr Bill notes that curbs on mortgage interest tax relief and the 3% stamp duty surcharge have seen the market become more favourable for landlords, due to less new rental stock appearing on the market.

45% of landlords in prime central London have reviewed their portfolio size, according to a separate report carried out by BDRC Continental in August. Across the whole of the UK, 19% of landlords with 20 or more rental properties have cut the size of their portfolio.

Knight Frank’s data indicates that there was a 6% decline in the number of new rental properties coming onto the market in prime central London between January and July 2017.

This comes as UK Finance has revised down its forecast for buy-to-let lending in 2018 by 13%, from £38bn to £33bn.