Knock Knock News: Property Sector 18th Jan

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Rent payments bigger than mortgage payments

Britain now spending more on rent than mortgage payments

Britons spent £74.8bn on rent in 2015

Britons spent £73.2bn on paying mortgages in 2015

In addition

Some £1,077bn of housing equity is owned by private landlords compared to £1,067bn owned by occupiers.

Homeowners getting older in latest non-shock news/research/PR piece by Countrywide:

Proportion of housing stock held by under 35s now 25% from 35% ten years ago

For some reason that doesn’t come as much of a shock to us here at SellMyHome as we look longingly at properties for sale whilst paying our rent.

Undercover first time buyer slams letting agent fees

“As if the rent isn't extortionate enough, letting agents demand astronomical payments for difficult tasks like printing a generic contract which contain irrelevant clauses such as gardening (not much use in a third-floor flat).

They then say it will cost something like £30 for the privilege of removing each nonsensical and pointless clause. Farcical and exploitative.

Again though, there’s no regulation of this, and I don’t see that changing anytime soon.”

Luckily there is another way – our little brother online lettings agent – no commission, no admin fees, no setup fees. In face we aren’t certain how they make any money!

Britons dream of a small rural home

In a survey by another estate agents they have “discovered” that Britons aspire to a small detached property in a rural village. Probably with a pub and a post office too. In other ground breaking research, the moon was discovered to be really far away but not as far away at the sun.

Landlords selling their portfolios as government policies hit home

A number of large private landlords have come out publicly declaring they are selling up a number of their properties in the wake of changing legislation and tax policy. The author of the Buy To Let Bible Ajay Auhuja has started his sale:

“Osborne is getting what he wants. He is forcing me to sell.”

Elsewhere, controversial Fergus Wilson sold his property empire of some 900 homes in Kent for in excess of £250m to an international consortium.

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