Energy Price Cap Reduction
Ofgem, the UK’s energy regulator, recently announced a reduction in the Energy Price Cap for the period of July to September 2023. This comes as wholesale energy prices begin to fall after over a year of rising costs. Ofgem advises that prices are unlikely to return to pre-crisis levels soon. Let’s take a look at the implications of the Energy Price Cap reduction.
Rental Market State of Play: May 2023
In May’s rental market overview, we will be discussing the latest trends and developments in the rental markets of three major European cities: London, Amsterdam and Paris. With the introduction of the Renters’ Reform Bill in the UK, the impact of impending rental controls in the Netherlands, and the changing landscape of the Parisian property market, there’s plenty to explore. Read on to discover how these factors are shaping the rental market state of play in May 2023 and what it means for tenants and landlords alike.
Rental Market State of Play: April 2023
Let’s take a look at how rental markets are faring in London, Amsterdam, and Paris. In April 2023, the London rental market showed signs of a “spring bounce” with rents climbing 0.2% after three consecutive months of decline. Meanwhile, in Paris, all four property types monitored by Klippa Relocation dropped in value, making it slightly cheaper for new tenants to secure a rental property. In Amsterdam, the rental market cooled slightly after significant rises in March, with three of the four properties monitored by Klippa dropping in value.
Glossary of UK Letting Industry Terms: A Guide for Working Expats
Welcome to our comprehensive glossary of terms used in the UK letting industry. Understanding the terminology associated with renting a property is crucial for a successful and compliant tenancy. From tenancy agreements and rent reviews to statutory obligations and fair wear and tear, this glossary aims to provide a clear and concise overview of the key terms used in the UK letting industry.
Rental Market State of Play: March 2023
Let’s take a look at how rental markets are faring in London, Amsterdam, and Paris. Rental values in Greater London are declining, but year-on-year values have increased and availability remains a major concern. Paris has seen a general rise in rental prices, but tenants renting new homes receive less value-for-money in terms of space. Amsterdam may see landlords selling up and exiting the market due to proposed rent controls, impacting rental values. Rental costs in all three cities have continued to increase in March, indicating ongoing pressure on rental markets.
Make Your Relocation to the UK a Success
The UK property rental market is suffering from a supply-demand imbalance due to a variety of factors, including limited housing supply, economic factors, changes in lifestyle and living patterns, changes in government policies, and rising mortgage rates. This has led to an increase in rental prices, making it more challenging for renters to find affordable accommodation.
Rental Market State of Play: February 2023
Let’s take a look at how rental property markets are faring in London, Amsterdam and Paris.
Despite a small dip in month-on-month values, London rents are still on the rise – and have increased by 13% from February 2022 to February 2023. Amsterdam and Paris continue to struggle with property supply and regulations around the private rental market.
Rental Market State of Play: January 2023
The rental markets in London, Amsterdam, and Paris opened in 2023 with a mixed perspective. Prices in London and Paris rose, while rents in Amsterdam fell for the second consecutive month. New and pending legislation on the continent is expected to have an impact on an already limited supply of properties.
Rental Market State of Play: December 2022
Rents continue to climb in the English capital. In a report on unaffordability in London’s lettings market, The Guardian quoted statistics from agent Savills. It said in the first nine months of 2022, rent price rises broke records by increasing 13.7%. It cited the return of international students and young professionals to London as key factors, but also highlighted a reoccurring lack of rental properties as something that continues to underpin sustained rental growth.
Rental Market State of Play: November 2022
London, Amsterdam, and Paris have had a popularity boost in the form of results from a new survey. A report set out to discover the top 10 most accessible global cities, with 3,500 people with disabilities having their say.
When it came to transport links, proximity of accommodation to attractions, shops, and restaurants, and the availability of information about accessibility, London, Amsterdam, and Paris all made the top 10.
Rental Market State of Play: October 2022
Another month and another common theme – crucial figures are on the rise. Inflation, bank rates and mortgages rates are edging up across Europe and in the UK, while the value of the Pound continues to be affected by a recent change in political leadership. We complete October, however, with a period of stabilisation that has allowed many rents across London, Amsterdam and Paris to gradually edge up.
Rental Market State of Play: September 2022
September is a month that will be remembered for currency turmoil, with a weakening euro, a catastrophic pound, and rates – both interest and mortgage – affecting finances. As a result, rents are getting cheaper for some and more expensive for others, depending on which currency you are using. Klippa takes an overview of the lettings landscape in London, Amsterdam, and Paris.
