UK Rental Report from Zoopla Advantage
In response to Zoopla Advantage release of it’s rental report for Q3 2022 Rod comments:
Rents have risen 12.3% and 18% in London in the past 12 months. Affordability now means a single earning household now spends 47.5% of their income on rent in London and 28.5% in the UK excluding London. This however is on par with the long term average for affordability looking at the UK as a whole and is more affordable than 2015.
Rental stock is down 46% compared to the 5 year average. There is a flight to 2 bed flats for renters which use up to 40% less gas than a terrace house.
There are clear supply side issues with rental stock and the government needs to take note of this and come up with supply solutions.
You can download the full report for free from Zoopla Advantage HERE
USA inflation figures.
Inflation figures came in today for the USA higher than the markets expected which is likely to mean a 0.75% increase in Federal funds rate.
What’s even more telling is that it wasn’t just the headline inflation number that was more than expected but also the core inflation number which is arguably more important at the moment.
The USA is seen as a market handling inflation a bit better than the UK so it will be interesting to see how we perform against this benchmark.
Rod Turner is an owning partner at Partners In Property
You can listen to his podcast The Rodcast on Spotify HERE