Articles by Nick Clay
Lending figures continue to show hesitant PRS
New figures from the FCA/Bank of England on the value of residential loans and buy-to-let activity do not yet show the PRS is back to being a favoured vehicle for UK investors and entrepreneurs.
Section 21 & Landlord Experience
The NRLA has been aware of pressure to reform legislation which impacts on the Private Rented Sector (PRS). Yet Section 21 is a commonly used mechanism by landlords: This note reviews the 2018 Quarter 4 survey to better understand the reasons why Section 21 is needed.
Private Housing and price inflation - Rent growth continues to lag price indices
In this post, Nick Clay from NRLA research looks at the latest inflation figures and trends in the Index of Private Housing Rental Prices (IPHRP).
A focus on PRS change
The rapid growth of the PRS is now levelling off. Does this represent a new equilibrium in housing tenure? NRLA researcher Nick Clay looks more carefully at the dynamics underneath the headline data.
Universal Credit and Landlords - some solutions for persistent roll-out problems
The 2019 Q1 State of the PRS report focuses on the roll-out of Universal Credit and the imapct it has had on landlords. The majority of landlords report that Universal Credit claimants do go into arrears, despite claims to the contrary.
Landlords shine brightly... but energy efficiently
This deep dive into the 2019 Quarter 3 survey reflects on the landlord community's investment in pushing up the energy efficiency of their properties. With much more needed to be done, there is a clear case for a mechanism to bring forward investment and move energy efficiency in the PRS still closer to wider government objectives.
Rental price growth: Weak but sustained - An analysis
The Index of Private Housing Rental Prices (IPHRP) continues to be below key measures of inflation. This is the 30th consecutive month the increase in rents in the PRS has been below BOTH the CPI and CPIH.
PRS recovery: still sustained... still weak
Whilst the IPHRP - the ONS's measure of price growth in the PRS continues to grow. The RLA argue price growth is fragile and weaker than in the wider economy.
Capital Gains Tax & the PRS - negative impacts on the property market
Research which reports on the impact of Capital Gains Tax. CGT traps landlords into holding property longer than planned. In doing so, the tax holds back a functioning property market. The tax reduces property investment as well as the volume of properties available to purchase.
Buy-to-Let figures highlight nervous mood among landlord-entrepreneurs
This post presents Bank of England data on the volume of residential loans to individuals. It provides an overview of overall volumes and the proportion of advances issued in the Buy-To-Let (BTL) market. The 2019 Quarter 3 data - published before Christmas - reflect our caution on the outlook for the PRS and investment in BTL.
