Even Brexit wasn't enough to prevent steady growth in the PRS last year Yesterday’s Rental Market Report from Zoopla shows the continued resilience of the UK property market. Despite a turbulent year in politics as a result of MPs squabbling over Brexit, there has been steady rental growth across the board. Core regional cities such as York, Bristol and Nottingham have seen 5% growth - more than double the UK average - thanks to strong local economies.
No doubt they will benefit from the new government’s renewed focus on political devolution, with York being identified as a potential new home for the House of Lords. Rental prices in London have increased by 2.8% - the highest rate in the capital for almost four years - and providing the final Brexit deal doesn’t prove too damaging - we expect this to continue. Zoopla’s prediction of a 3.5% growth in rental prices during the coming year is welcome news for landlords and the institutional investors who continue to eye the UK rental market.
This is borne out by recent research from Savills which shows there are now over 150,000 build-to-rent homes in the pipeline. However, Zoopla signals warning signs too. Rental growth has largely been driven by higher wages but there are already signs that wage growth may be slowing. Lack of supply is another factor, with many private landlords looking to exit the market following tax and regulatory changes. A drop-off in available rental homes combined with reduced wage growth could leave renters out of pocket. To that end, the government should rethink its approach to buy-to-let landlords.
Mary-Anne Bowring FIRPM FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MIRPM MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Libby Chen MSc Compliance Manager
Operational Plant & Equipment strategy PPM Compliance lead, Asset tagging Client major projects
Dipesh Parekh Director PlanetRent
Customer centric, vertically integrated PropTech/fin-tech solutions.
Leana Aristodemou MIRPM MARLA AssocRICS Strategic lead: ESG & Asset Business Plan delivery
Financial modelling, valuation analyst to support underwriting & fund reporting.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.