Rising borrowing costs and plans for stricter rules are affecting the rental sector, surveyors say.
Rising interest rates are putting pressure on landlords, pushing some to consider selling up, surveyors say.
The availability of homes to rent has already been squeezed, so higher costs - as well as the Renters Reform Bill - is likely to continue that trend, according to RICS, which represents surveyors. A proposed new law would abolish landlords' ability to evict tenants with no justification in England.A key piece of housing legislation, known as Section 21, allows landlords to evict tenants without giving a reason.
"Reports from the agents read as increasingly desperate cries for help, as the imbalance in the market gets worse with each passing month," said Sarah Coles, head of personal finance at investment platform Hargreaves Lansdown."Given that rent absorbs a far bigger chunk of people's incomes than mortgages, these hikes will add insult to injury. It's going to make it even more difficult for renters to stay on top of their finances," Ms Coles said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
High street shop to close 'in near future' due to rising costsThey have thanked customers for their support
Weiterlesen »
Oil Moves Up Despite Rising Product Inventories | OilPrice.comCrude oil prices inched higher today after the Energy Information Administration reported an inventory decline of 500,000 barrels for the week to June 9.
Weiterlesen »
House prices in first annual fall for 11 years, says the HalifaxThe UK's biggest mortgage lender says rising borrowing costs are affecting confidence.
Weiterlesen »
More pain for renters as landlords look to sell upRising borrowing costs and plans for stricter rules are affecting the rental sector, surveyors say.
Weiterlesen »
UK to have highest inflation in developed world this year, OECD warnsThe latest update from the Paris-based body sees risks ahead from energy prices, which could leap substantially again ahead of the coming winter, and rising interest rates.
Weiterlesen »
Passengers stuck on 'greenhouse' plane and stranded in airport for hours'Chaos' as passengers stuck on 'greenhouse' plane before being stranded for hours in airport on return to Manchester
Weiterlesen »