Short-Term Demand Is Up For Rentals In U.K.

Despite a recent bounceback, rental demand across the U.K. remains significantly impacted by the coronavirus pandemic, according to a report from Zoopla. In the two weeks to April 14, demand for rental properties increased 30%, the online real estate portal said. Though notable, the increase immediately followed a 57% decline in demand for rental homes in the two weeks to March 30, and still remains 42% lower than at the start of March. The uncertainty induced by the pandemic means households will turn to the rental market before the sales market to “meet any immediate housing need,” the report said. Read more on the Mansion Global website.

https://www.mansionglobal.com/articles/short-term-demand-is-up-for-rentals-in-u-k-but-the-market-remains-significantly-impacted-by-coronavirus-214218

As Salaries Grow More Than Property Values, Cities Get More Affordable

Stagnant growth in house prices paired with increasing wages is making some of the most expensive cities in the U.K more affordable, according to a report released by Zoopla. Average annual wage growth across the nation reached 3.7% in June, which outstripped house price growth in 12 of the 20 cities the online real estate portal analyzed. The three highest-value markets in the U.K.—London, Cambridge and Oxford—all saw house price growth below the level of wage growth. Read more on the Mansion Global website.

https://www.mansionglobal.com/articles/as-salaries-grow-more-than-property-values-the-priciest-u-k-cities-get-more-affordable-206624