The Government has announced Lettings/Estate Agents can begin to resume business. Staff will continue to be working remotely whilst we get staff and the office ready and “Covid 19 secure” and will be following the Government’s guidance as follows:

- We will be carrying out a COVID-19 risk assessment and will share these results with the people employed at Pennington.

- We will be cleaning, handwashing and following hygiene procedures in line with Government guidance.

- We are taking all reasonable steps to help people work from home.

- We will be taking all reasonable steps to maintain a 2m distance in the workplace.

- Where people cannot be 2m apart, we have done everything practical to manage transmission risk.

In the first instance all enquiries should be sent to info@pennington-online.co.uk, this email address is monitored during normal working hours and will be dealt with accordingly. Any maintenance should be reported via Fixflo. In an emergancy call 07474 342732, otherwise please call 07823 651832 or 07823 651890. We will look to re-open the office for appointments only, with the above measures in place subject to any further government advice around the 1st June 2020.

Support, Advice and Experience within the Property Market

Landlords predict rent rises to tail off

From Property Talk Live on April 30, 2015

After a recent spurt of rent growth, landlords anticipate that rent rises will taper off over the next twelve months, according to a sentiment survey of more than 1,200 landlords conducted by Your Move and Reeds Rains.

On average UK landlords anticipate that rents will increase by 1.7% in the coming year, a sharp slowdown from the current rate of annual rent growth to a steadier trajectory. According to the latest Buy-to-Let Index from Your Move and Reeds Rains, average residential rents across the UK climbed 3.7% in the year to March 2015, the fastest pace for two years.

The proportion of landlords who will not raise their rents in the next twelve months has increased from 56% in September 2014 to 60% currently. Only a minority of four in ten landlords (40%) intend to increase their rental prices before March 2016.

Over the last six months, 45% of landlords have witnessed an increase in tenant demand – rising from 41% of landlords in September 2014. There has been a boost in lettings activity recently, with new tenancies agreed across England and Wales climbing 6.9% in the month to March 2015. As a result, the proportion of landlords who expect tenant demand to grow further now stands at 63%, up from 56% in January 2014.  Only 3% of landlords currently anticipate demand for rental properties to fall within the next two years.

However, strong demand for homes to let is a considerable factor encouraging further investment into the private rented sector. Three in five landlords (60%) now believe that it is a good time to invest in buy-to-let – a rise from 54% of property investors in September 2014.  The main reason underpinning this increase in confidence is that buy-to-let offers better capital returns compared to other forms of investment, cited by 54% of landlords who think it is a prime time to purchase a rental property.  Meanwhile 40% of property investors perceive now to be an ideal time given that current market conditions offer the opportunity to buy properties at more attractive prices, as price growth has stabilised.

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Source: Property Talk Live