{"id":10661,"date":"2018-01-26T12:15:17","date_gmt":"2018-01-26T12:15:17","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=10661"},"modified":"2018-01-26T12:15:17","modified_gmt":"2018-01-26T12:15:17","slug":"week-renters-leaving-london-affordable-homes-oap-mortgages","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2018\/01\/26\/week-renters-leaving-london-affordable-homes-oap-mortgages\/","title":{"rendered":"This week: Renters leaving London, affordable homes and OAP mortgages"},"content":{"rendered":"

This week it emerged that more private tenants are leaving the capital in search of cheaper homes, while rents in the UK have edged up only slightly in the past year. Affordable housing is still a prevalent issue in the property market, and while office conversions are adding to the housing stock, none of them are creating affordable homes. Meanwhile, mortgage options for both first-time buyers and the older generation mean it’s a great time to borrow. Here are seven things you might have missed this week…<\/p>\n

1. Why are record numbers of renters leaving London now?<\/h4>\n

Last year, Countrywide recorded a 10-year high of 65,000 renters quitting the capital<\/a>. But they\u2019re no longer leaving to become first-time buyers\u2026<\/p>\n

\"\"

2. The rise of the short-term let: landlords taking lead from Airbnb<\/h4>\n

Void periods \u2013 the days, weeks or even months between one tenant moving out and another moving in \u2013 can be a landlord\u2019s most dreaded expense, so growing numbers are turning to short-term, Airbnb-type lets<\/a> to plug the gap.<\/p>\n

\"airbnb\"

3.\u00a0The case for and against office conversions to ease the housing crisis\u2026<\/h4>\n

Converting offices for residential use<\/a> is great for adding to the UK\u2019s housing stock, but it allows developers to bypass affordable housing requirements.<\/p>\n

\"apartment\"

4.\u00a0More focus on mortgage financing options for the older generation<\/h4>\n

Statistics suggest that between now and 2032 there will be 40,000 interest-only mortgages maturing annually, with no obvious means for their older borrowers<\/a> to repay them.<\/p>\n

\"older

5.\u00a0Rental prices in the UK edged up more slowly than inflation in 2017<\/h4>\n

Last year\u2019s UK rental market<\/a> was decidedly steady, with average rents rising by 1.7% in the year to December 2017, although regional variations painted a slightly different picture.<\/p>\n

\"houses\"

6.\u00a0Why now is an opportune time for first-time buyers with smaller deposits<\/h4>\n

With the government\u2019s decision to scrap stamp duty for first-time buyers, and the base rate rise having little impact on mortgage rates with a 95% loan-to-value,\u00a0this year is looking promising for prospective first-time buyers<\/a> wanting to get on the property ladder.<\/p>\n

\"opportunity\"

7.\u00a0How has Brexit really affected the UK property market?<\/h4>\n

With news that the pound has hit its highest level at more than $1.40 since Britain\u2019s vote to leave the EU in June 2016, the UK housing market<\/a> appears to be holding its own in the face of a difficult climate.<\/p>\n

\"brexit\"

This week it emerged that more private tenants are leaving the capital in search of cheaper homes, while rents in the UK have edged up only slightly in the past year. Affordable housing is still a prevalent issue in the property market, and while office conversions are adding to the housing stock, none of them… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":6119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,12,26,6],"tags":[341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/10661"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=10661"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/10661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/6119"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=10661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=10661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=10661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}