Lettingsearch News

customerservices@lettingsearch.co.uk (Lettingsearch) — Thu, 04 Feb 2010 00:00:00 GMT

JANUARY HOUSE PRICE INDEX

customerservices@lettingsearch.co.uk (Lettingsearch) — Fri, 29 Jan 2010 00:00:00 GMT

Phil Calderbank, Director at lettingsearch.co.uk, the UKs largest lettings-only portal, comments on Nationwide´s January House Price Index, released today:

"Another index confirming the upward trend for house prices is a further boon for the lettings market, as it is certain to convince potential first time buyers to continue to let. While recovery in the housing market outstrips that in the wider economy, buyers are likely to be wary of getting their fingers burnt, with many more choosing to let in the interim. If rising house prices and burgeoning inflation lead to an earlier than anticipated hike in interest rates, affordability will be even more stretched, resulting in a sustained high demand for lettings accommodation."

LETTINGSEARCH.CO.UK TIPS BRIGHTON, LEWES AND WORTHING FOR TOP LETTING PROPSECTS IN 2010

customerservices@lettingsearch.co.uk (Lettingsearch) — Mon, 25 Jan 2010 00:00:00 GMT

An acute shortage of family properties to buy in Brighton, Lewes and Worthing is having a positive impact on the local lettings markets, which are seeing an increased level of enquiries, reports lettingsearch.co.uk, the UK´s largest lettings only portal.

In a review of Sussex towns, lettingsearch.co.uk believes the prospects for these areas for landlords are excellent, due to the general shortage of second hand homes to buy and the cautious attitude of homebuyers uncertain of house prices and mortgage availability.

Phil Calderbank, Director of lettingsearch.co.uk, gives his reasons for tipping these Sussex locations:

"Brighton´s great good fortune is that it is a thriving city with two universities, many language schools, healthy local employment and conference facilities. This has to be a very good bet for any landlord - from small amateurs to those who want to build substantial portfolios.

"The large student population means that accommodation is always in short supply and, while house prices have been fairly static during the recession, they are sure to go up in time, providing strong capital growth. As Brighton increases its reputation as a ´London by the Sea´, more potential commuters will come to the town and current demand for property is particularly acute around the station. Being able to live within walking distance of both the station and the sea is exactly what commuters to London want and it is on these roads that we believe the best returns will be made.

"Lewes town is less frenetic than Brighton and yet is still only just over an hour from London. Although not favoured by students, the county town´s ancient citadel of little cobbled alleys and ruined castle ensures it has a healthy lettings sector. Very good shops and restaurants with a slightly bohemian air and its proximity to the glorious South Downs National park and the downland villages like Rodmell, Glynde, Firle and Berwick makes this an attractive place to which Londoners and Brightonites relocate.

"Worthing represents better value than either Brighton or Lewes and is becoming more popular with commuters. There is local work with the likes of GlazoSmithKline and HM Revenue and Customs, providing a range of tenants from top executives to young graduates just starting out and the prospects for landlords are bright. Highly rentable three bedroom houses can be bought for around 225,000 and if more commuters come to Worthing - it´s only 80 minutes from Victoria - the long-term prospects for landlords in 2010 should be good."

Calderbank adds: "Increasingly, these coastal towns are benefiting from an influx of commuters from London in search of better schools and a less fraught lifestyle. However, where once it was the only the young professionals who chose to let a property before buying, families are also ´trying´ an area first before committing to a purchase, which is great news for landlords."

LETTINGSEARCH.CO.UK TIPS KENT HOTSPOTS FOR 2010

customerservices@lettingsearch.co.uk (Lettingsearch) — Mon, 25 Jan 2010 00:00:00 GMT

An acute shortage of family properties to buy in Rochester, Maidstone, Canterbury and other key East Kent towns, is having a positive impact on the local lettings markets, which are seeing an increased level of enquiries, reports lettingsearch.co.uk, the UK´s largest lettings only portal.

In a review of Kent towns, Rochester-based lettingsearch.co.uk believes the prospects for these areas for landlords are excellent, due to the general shortage of second hand homes to buy and the cautious attitude of homebuyers uncertain of house prices and mortgage availability.

Phil Calderbank, Director of lettingsearch.co.uk, gives his reasons for tipping these locations:

Canterbury, Maidstone, Ashford, Dover and Folkestone
"The sought-after villages around these key locations and the continued popularity of historic Canterbury city have kept rents relatively high. We see this continuing throughout 2010 because of the new superb fast rail links to London St Pancras, with journey times of as little as 37 minutes from Ashford and just over an hour from Dover, which has put the harbour town into commuter belt territory. Canterbury University also greatly assists the strong lettings market."

Rochester
"This cathedral Medway town is 40 minutes from London´s Victoria and has grand four and five bed period houses in the St Margaret´s Street area, which are always in demand for commuters or people letting a property first with a view to buying later in the City. Cheaper accommodation to let is available 10 to 15 minutes from the town centre. We believe rents will hold up well here because the town is a magnet for people coming out of London, with the marina and waterfront a unique attraction."

Margate
"Margate could become fashionable again, not as a holiday destination for Londoners as it once was, but as a second home retreat or a live/work enclave. The planned arrival of the Turner Contemporary gallery will not shake off Margate´s past in one swoop, but it will take it in the right direction."

Calderbank adds: "Increasingly, these towns are benefiting from an influx of commuters from London in search of better schools and a less fraught lifestyle. However, where once it was the only the young professionals who chose to let a property before buying, families are also ´trying´ an area first before committing to a purchase, which is great news for landlords."

BID FOR INDEPENDENCE DRIVES SPIKE IN DEMAND FOR LETTINGS ACCOMMODATION IN JANUARY

customerservices@lettingsearch.co.uk (Lettingsearch) — Wed, 20 Jan 2010 00:00:00 GMT

A renewed determination for graduates to gain independence has driven a surge in demand for lettings accommodation, a recent poll conducted by lettingsearch.co.uk reveals. Of those looking for new lettings accommodation in January, 30% are offspring taking steps to move out of the parental home having secured their first job.

Lettingsearch.co.uk says the first two weeks of January have proved the busiest time for potential tenants searching for a new lettings property with a 39% recorded spike in traffic in January so far.

And it seems the a start of a new year has spurred on many others to move; in second place are those wanting to move to a different area for lifestyle or work related reasons (19%), closely followed by tenants looking to move in with a partner (18%). It´s thought that families largely make up the 16% who want more or less space or different facilities. However, all is rosy with existing house and flat sharers with only 4% of housemates wanting to go their separate ways and only 2% wanting to live with different friends.

Phil Calderbank, Director at lettingsearch.co.uk, comments: "The latest Government figures show an increase in young people obtaining work at end of 2009, which has played a part in shaping some firm resolutions from this group to start the year on their own two feet. Growing families also perhaps realise after time together over the Christmas break that they need more space or see the start of the year as a time to move to a different area to improve their quality of living, register with good schools or begin a new career.

"Lettingsearch.co.uk has seen record numbers of searches made during December and at the start of the year as tenants wanted to be first in line for the best and most competitively priced properties."

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Table 1. Main reasons for people deciding to move to new lettings accommodation in the New Year
Reason for moving Percentage of respondents
Wanting to move out of your parents´ house 30%
Wanting to live in a different area 19%
Wanting to move in with a partner 18%
Wanting more or less space or different facilities 16%
Wanting to live by yourself 12%
Current housemates going separate ways 4%
Wanting to live with different friends to those you are currently living with 2%

LANDLORDS AND LETTING AGENTS SET FOR A BUSY CHRISTMAS

customerservices@lettingsearch.co.uk (Lettingsearch) — Fri, 18 Dec 2009 00:00:00 GMT

Landlords and letting agents can expect no let up in activity in the run up to Christmas, with 62% of consumers currently looking for new lettings accommodation still hoping to move before the end of the year, according to a poll conducted by lettingsearch.co.uk.

Sustained high demand from current and potential tenants as Christmas approaches will keep landlords and letting agents busy, bolstering their income by reducing the number of void periods on properties that can be common at the end of the year. The buoyant activity levels will also enable landlords to achieve better rents, due to competition among tenants

While December and January can often be quiet, with fewer people moving into new lettings accommodation, 2009 is busy with tenants looking to move before the New Year, when rents are widely expected to increase further. Potential buyers continue to be cautious about committing to a purchase as house prices look set to dip further, creating additional demand for rental homes

Phil Calderbank, Director at lettingsearch.co.uk, comments: "All signs are pointing to high levels of market activity right up until Christmas itself, which is great source of seasonal cheer for lettings professionals, allowing them to cut down on void periods and in many cases achieve the best rents possible for their properties"

"Current tenants are looking to choose from a wider selection of properties and get a good deal on the rent while they can, as supply continues to shrink and rents look likely to continue on their upward path in the New Year. Homeowners are also moving across to the lettings market to escape the uncertainty of the sales market and some are choosing to let over the short term to prevent their fragile chain from collapsing, not wanting to start the process again from scratch."

"Such strong levels of demand at this stage in the year suggest that the lettings market is set for a year of sustained recovery and consolidation in 2010"

YEAR OF CONSOLIDATION FOR 2010 LETTINGS MARKET

customerservices@lettingsearch.co.uk (Lettingsearch) — Mon, 14 Dec 2009 00:00:00 GMT

� Demand for rental property will remain strong in 2010 as uncertainty lingers in the sales market
� Stock levels to fall further in Q1 as accidental landlords continue to return to the sales market
� Lettings market to receive new investment from professional landlords with liquid cash in the second half of the year
� Rents to increase next year, pushing annual growth back into positive figures
� Areas expected to perform well in 2010:
o Medway towns eg Rochester
o Desirable London commuter towns with above average house prices eg Tunbridge Wells
o Urban hub town eg Milton Keynes

Phil Calderbank, Director at lettingsearch.co.uk, comments on the outlook for the lettings market in 2010:

"The lettings market is already undergoing a sustained period of recovery and 2010 is seen as a year of consolidation, driven by stock levels falling back to more normal levels and an increase in tenant demand as consumer uncertainty in the sales market rumbles on.

"The plethora of accidental landlords which contributed to the oversupply of lettings stock has decreased substantially and those that remain are expected to return to the sales market in the early Spring to improve their chances of securing a sale while the demand exists and prices are relatively stable.

"However, with the possibility of a double dip for house prices due to the continued weak nature of the fundamentals underpinning the market, homeowners and first time buyers are expected to turn away from the sales market in the first half of 2010, preferring to let a property until more stability returns. This caution will be exacerbated by continued tight mortgage availability and the threat of further redundancies.

"As a consequence, rents will stabilise in many areas of the country, rising in areas of particularly high demand, pushing growth back into positive figures and eventually leading to more lucrative rental yields. Professional landlords are also likely to benefit from a gradual increase in buy-to-let lending and, with investments in alternative asset classes continuing to under-perform, those with liquid cash for a deposit may look to invest in further, affordable lettings properties in the second half of the year.

"We are tipping several towns to become lettings hotspots next year. These include the East Kent towns of Canterbury and Ashford, which are already seeing increased demand from young professionals as a result of the new high speed rail link into the capital, where a full service begun on 14th December.

"Traditionally desirable commuter towns with good schools, such as Tunbridge Wells and Guildford, are also set to perform well in 2010 as families choose to let in the current climate. More of an outsider, urban hub towns including Milton Keynes will be popular for lettings as they are still commutable to the capital and offer a good range of shops and services."

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NO CHRISTMAS SLOWDOWN FOR LETTINGS MARKET

customerservices@lettingsearch.co.uk (Lettingsearch) — Tue, 08 Dec 2009 00:00:00 GMT

Landlords and letting agents are experiencing high levels of activity in the run up to Christmas, with 65% of consumers currently looking for new lettings accommodation still hoping to move in before the end of the year, according to a poll conducted by lettingsearch.co.uk.

Sustained high demand from current and potential tenants as Christmas approaches is keeping landlords and letting agents busy, greatly reducing the number of un-let properties and void periods over the festive season, in contrast to the situation in 2008.

While December and January have traditionally been quiet, with fewer people moving into new lettings accommodation, December 2009 is busy with tenants looking to move before the New Year, when rents are widely expected to increase further. Potential buyers continue to be cautious about committing to a purchase as house prices look set to dip further, creating additional demand for rental homes.

Phil Calderbank, Director at lettingsearch.co.uk, comments: "All signs are pointing to high levels of market activity right up until Christmas itself, which is great source of seasonal cheer for lettings professionals, allowing them to cut down on void periods and in many cases achieve the best rents possible for their properties.

"Current tenants are looking to get a good deal on the rent while they can, as supply continues to shrink and rents look likely to continue on their upward path in the New Year. Buyers are also playing a waiting game, choosing the lettings market instead of sales, until mortgage lending improves.

"Such strong levels of demand at this stage in the year suggest that the lettings market is set for a year of sustained recovery and consolidation in 2010."

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LETTINGSEARCH.CO.UK CLAIMS NUMBER ONE SPOT FOR LETTINGS

customerservices@lettingsearch.co.uk (Lettingsearch) — Tue, 17 Nov 2009 00:00:00 GMT

The UK´s largest lettings-only portal, Lettingsearch.co.uk, is set for further expansion across major towns and cities with the arrival of two new shareholders and increased funding, offering the most competitive monthly fee for lettings agents. Martyn Sellick and Kevin Rice, Kent entrepreneurs and co-directors of niche developer Red Admiral Homes, have joined forces with Lettingsearch.co.uk founder Phil Calderbank with the aim of growing its agent and tenant base substantially over the next six months.

Lettingsearch.co.uk, which was established by Calderbank in 2002, lists in the region of 250,000 properties to let and averages over 1 million tenant searches a month, remains the only property portal designed specifically for the lettings industry, with higher search relevance driving more traffic to the agents´ properties. Uniquely, landlords approaching the site are also redirected free-of-charge to appropriate lettings agents on the site, providing an additional income stream for both small and large agents alike.

Phil Calderbank, Director, lettingsearch.co.uk, says:
"The lettings industry has grown phenomenally over the past 10 years and set to grow even further over the next decade. In 2010 we want to further consolidate our position as the UK´s number one in the lettings´ market. A lettings-only portal that concentrates its efforts on driving targeted traffic to an agent´s properties is the key to a successful future. We will look to constantly evolve our website throughout 2010 and 2011, so that it is attractive to our consumers who will in turn continue to deliver high quality leads to our member agents.

"More traffic means more tenants, quicker lets and more satisfied landlords. And because we are only catering for lettings, we have developed the latest technology to deliver the high frequency of updates required, for a considerably lower cost compared to a portal that tries to deliver both sales and lettings."

Best value for money lettings portal
Agents can list any number of properties in Lettingsearch.co.uk at a cost of just 95 per branch with no set up fee or minimum period of advertising which includes photographs, EPCs and interactive mapping. A facility to upload new properties to all the leading property portals using lettingsearch.co.uk saving time in administration costs is also part of the package.

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Notes to Editors:
Lettingsearch.co.uk is the UK´s largest lettings only portal with approximately 250,000 properties listed for letting. Over 1.3 million searches are carried out on the site each month. It was established in 2002 and re-launched in 2009 by a newly created, privately owned company with a team of highly experienced directors with a range of financial and property management skills.
Lettingsearch.co.uk supports lettings agents both small (local) and large (national), bringing together landlords and agents by acting as a unique free landlord referral service for landlords visiting the site. Lettings agents pay an extremely competitive monthly fee per branch to list any number of properties and have free access to a range of portal upload tools to save them time on a daily basis.

Visit: www.lettingsearch.co.uk

BUY-TO-LET TO BOOM AGAIN

customerservices@lettingsearch.co.uk (Lettingsearch) — Thu, 12 Nov 2009 00:00:00 GMT

The recession is now officially over for buy-to-let as mortgage lending to the sector picks up once again and landlords look to take advantage of more affordable property prices and high tenant demand, says Lettingsearch.co.uk, the UK´s largest lettings-only portal.

Buy-to-let investors are beginning to fight their way back into the property market as prospects for the sector improve following a sustained period of restricted financing and, until recently, weak rental yields. With banks finally increasing their buy-to-let lending in quarter three, a period of sustained investment in the industry is set to follow.

Many professional landlords still have liquid cash available to invest and are now likely to look to expand their portfolios over the next few months, buying property at the more affordable levels before prices climb too far. Investments in other asset classes continue to under-perform, and as a result, city bonuses will also be channelled into investment property, bolstering the buy-to-let sector further.

Investment in the sector will be underpinned by strong and rising tenant demand for lettings accommodation, as homeowners and first time buyers turn away from the sales market and will fuel heightened activity in the property market as a whole.

Phil Calderbank, Director at lettingsearch.co.uk, comments: "Mortgage lenders are once again recognising the important role lettings has to play in the property market and as investors with liquid cash make a move to take advantage the affordable property, strong tenant base and improving returns, I think we can safely say that the recession is now over for buy-to-let.

"Many so-called reluctant landlords have discovered a new income stream and we believe some of these people will stay in buy-to-let and even expand their portfolio. This will further strengthen the buy-to-let sector.

"The current rate of house building cannot meet the demand from potential buyers, and while lending to homeowners remains scarce and the uncertainty over unemployment looms on the horizon, we will see people choosing lettings from every rung of the ladder."

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