UK Rents Up 6% in Last Year

Average rent costs across the UK have risen by 6.8% over the last 12 months. The average cost of a double room including bills in the UK in 2012's first quarter was £416 per month, which had risen to £497 by the first quarter of 2013. Bolton saw the biggest Q1 2013 rent rises in England, where monthly room rents rose from £338 to £364, an increase of 7.7% in the past 12 months.  In London, average room rents stand at £660 per month inclusive of bills, up 3.5% since Q1 2012, but now 20% higher than two years ago.  Read more on 24dash.

Bolton Tenants Vote for Stock Transfer

Bolton council tenants have voted to transfer their homes to a housing association. In an independent ballot, 76 per cent of tenants voted to transfer their homes, which are currently managed by ALMO Bolton at Home, out of council control. Bolton at Home will become a housing association responsible for spending around £124 million on Bolton’s homes and estates over the next five years. Under current rules on council finance, £288 million of housing debt would be written off, and the new landlord would invest £1.2 billion in its properties over the next 30 years. The council’s executive still has to approve the stock transfer plans before working out the terms with Bolton at Home. Read the full story on the Bolton Council website.