While it has been much easier to put the buying and selling market on hold, the nature of lettings means tenancy agreements continue to expire during the UK’s strict lockdown phase. Although Klippa Relocation must stress that tenants and landlords should work together to postpone moves – by extending current tenancies and delaying the start of new ones – we are aware extenuating circumstances may prevent this from happening.
Brexit? A new points-based immigration system? The weak pound? Who knew one of the biggest threats to the business world would actually be a highly contagious epidemic.
Coronavirus has become such an international threat that it has put the brakes on tourism, manufacturing and the movement of people. Forecasters are warning the global economy will take a financial hit, with HSBC and Apple already alluding to profit and productivity setbacks as a result of the virus.
The start of a new decade always feels like we are on the cusp of something fresh and exciting. In the case of employment, the 20s – as they’re being referred to – are shaping up to be the years that the workplace takes on a radical new look.
There’s no better event to focus the mind than the start not only of a new year, but of a new decade too. Countless surveys among workers show that January is the most popular month for changing jobs and one report even pinpointed the 31st January as the day Brits are most likely to hand in a resignation letter.
As 2019 draws to a close, we look ahead to the next 12 months in the private rental sector. While Brexit remains a concern, albeit on the back burner, it is the general election and the full effects of a number of new lettings laws that will shape 2020. Here are Klippa Relocation’s predictions.
Rents will keep rising
A number of long-term rental forecasts can now be assessed for accuracy. In 2013, the National Housing Federation said rents would be 46% higher in 2020 but this hasn’t happened. In fact, data from Statista shows England’s average weekly rent in 2013/2014 was £176 and it stands at approximately £241 per week in 2019. Modest rises are also reflected in the latest figures from HomeLet, which reveal the average rent across the UK has risen by 2.7% in the last 12 months.
The UK property market is changing all the time and the lettings sector is especially vulnerable to fluctuations, with a current prevailing trend for rent rises.
Although ongoing political wrangles have prevented an actual date being set, political parties are gearing up for a General Election by making bold claims and persuasive promises. Working hours has become a new battle ground in the race to win voters and Labour announced its support for a 32 hour working week, with designs on ‘re-balancing with a greater quality of life’ in mind.
It’s understandable that any new Prime Minister should want to put their stamp on their Government and Boris Johnson has proved no different. The new leader used his first address to the House of Commons to tackle the issue of immigration – an especially pertinent point as we hurtle headlong towards Halloween / January / who knows when.. and our EU departure.
There is no shortage of surveys that reveal where the happiest places to live are (Orkney, Richmondshire and Rutland, if you’re wondering) and the best spot for personal wellbeing (a title that belongs to Rushmoor in Hampshire, which has the highest average rating for life satisfaction in the UK).
England’s lettings industry has undergone a wholesale change that directly affects how much it costs tenants – or their employers – to rent a property. On the 1st June 2019, the Tenant Fee Act 2019 became law, which banned a number of fees that had previously been charged to tenants. The new act is particularly applicable to the relocation market as it applies to all new tenants and tenants who are renewing their agreements as of 1st June 2019.
The famous quote ‘the reports of my death are greatly exaggerated’ may well have applied to London after the EU referendum but just like Mark Twain, the UK’s capital city is alive and well, despite speculation about its pre-Brexit demise. The news coming from London is pretty positive and should help bolster the international relocation market. Here are Klippa’s capital city highlights:-
LinkedIn has released its latest Top Companies List 2019, identifying the companies where Brits want to work the most. The companies were measured by their ability to attract attention from UK-based jobseekers and to hang on to existing talent, with the 25 slots mainly taken by household names.