{"id":728,"date":"2011-04-26T07:40:17","date_gmt":"2011-04-26T07:40:17","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=728"},"modified":"2011-04-26T07:40:17","modified_gmt":"2011-04-26T07:40:17","slug":"rent-arrears-decline-demand-still-rising","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/rent-arrears-decline-demand-still-rising\/","title":{"rendered":"Rent Arrears Decline – Demand Still Rising"},"content":{"rendered":"

\"\"<\/a>Latest Landlord News by: Madalena Penny<\/p>\n

The first quarter this year has been a strong indicator as to the national residential rental trends being established across England and Wales.\u00a0 As you would expect residential rents have risen in much of the UK\u2019s rental hotspots and tenant arrears<\/a> have fallen as first-time buyers flooding the rental sector set the trend for tenant behaviour<\/a> raising standards.<\/p>\n

LSL Property Services data for March 2011 suggests a line emerging \u2013 one, which is creating a north-south divide.\u00a0 With a 0.4% increase in rents across much of England, averaging out at \u00a3687 pcm, there are some regions experiencing a decline.<\/p>\n

While London continues to outstrip regions for it\u2019s rental demand, rents are reported to have increased by a massive 7.3% and the rest of the South East is clearly following London\u2019s trend by a 6.7% rise.\u00a0 Meanwhile Humber, Wales and Yorkshire were affected by a 1.3% fall in rental prices along with a 1.6% fall in the South West.\u00a0 While rental values decline in these areas, house purchase transactions in the South West and Wales are increasing according to RICS surveyors.<\/p>\n

Defaulting tenants are also on the decline.\u00a0 After December\u2019s usual increase in rent arrears, unpaid rent for March 2011 has experienced a noted drop in national levels, resting at \u00a3224m, the lowest since October 2010.\u00a0 As RICS are reporting a fall in national house selling instructions, rents are reflecting the ongoing demand resulting from such a decline.<\/p>\n

<\/strong><\/p>\n

As is expected with continued and increased demand, the lending sectors is somewhat cautious, but are clearly optimizing services and products surrounding a steady rental trend.\u00a0 Paragon have revealed more than a 50% rise from their advisors in what appears to be a positive outlook in BTL lending conditions.\u00a0 Compared to the first quarter last year with only 142 BTL products available, Q1 2011 reports 298 products on the market.<\/p>\n

It\u2019s still a long way from the 3000 products available in 2007, but as lenders confidence increases in the private rented sector and the coalition government begins to stabilize rental conditions, landlords<\/a> should be able to find conditions more favourable and allow them to expand portfolios with a lot more ease.<\/p>\n","protected":false},"excerpt":{"rendered":"

Latest Landlord News by: Madalena Penny The first quarter this year has been a strong indicator as to the national residential rental trends being established across England and Wales.\u00a0 As you would expect residential rents have risen in much of the UK\u2019s rental hotspots and tenant arrears have fallen as first-time buyers flooding the rental […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[5,16,18,7],"yoast_head":"\nRent Arrears Decline - Demand Still Rising - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/rent-arrears-decline-demand-still-rising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rent Arrears Decline - 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