Real Estate & Rental & Lettings News in United Kingdom from Propertyshowrooms.com

High demand pushes UK rental prices up

Fri, 10 Jun 2011 00:00:00 GMT

An increase in tenant demand and a low level of new rental property coming onto the market means that now is a good time for buy-to-let investors in the UK, it has been claimed.

The factors have helped to push rents higher in the three months to April, the latest Residential Lettings Survey from the Royal Institution of Chartered Surveyors (Rics) revealed.

In total, 42 per cent more surveyors reported that rents rose rather than fell in the past three months. This is up from 40 per cent in the previous quarter's survey.

Rics spokesperson James Scott-Lee explained that the imbalance between supply and demand means that rents are only expected to rise further still.

"Although we are beginning to see more mortgages aimed at first-time buyers, many potential homeowners are still restricted from getting a foot on the property ladder, leading to increased demand in an already oversubscribed rental market," he added.

UK landlords expect tenant demand to rise

Thu, 2 Jun 2011 00:00:00 GMT

Some 49 per cent of UK-based landlords believe that now is a good time to invest in new property.

In comparison, just 19 per cent of those questioned by LSL Property Services plc are looking to reduce their portfolios.

Demand for buy-to-let property is forecast to grow in the coming 12 months, with figures showing that 185,600 fewer first-time buyers entered the property in the last year compared to the level before the downturn.

As a result, many are staying in the private rental sector.

Indeed, in the past three months, 52 per cent of landlords have reported a rise in tenant demand and 68 per cent expect demand to grow further in the next twelve months.

David Newnes, estate agency managing director for LSL Property Services plc, said: "Optimism among landlords is not only buoyant, but increasing.

"Soaring rents and climbing demand from frustrated first-time buyers are not only making buy-to-let an attractive proposition for new property investors - but are encouraging existing landlords to grow their holdings before property prices increase once more."

Rents climb in London yet again

Tue, 24 May 2011 00:00:00 GMT

Investors with exposure to the London property market will be encouraged by news that rents in the capital increased for the 20th consecutive month in April.

The price of leasing a home in the buoyant capital went up by 0.4 per cent over the course of the month, research by Knight Frank revealed.

It will come as no surprise to investors that have been following recent UK market conditions, with the city clearly outperforming the rest of the UK property market in terms of real estate values and demand.

The annual growth rate now stands at 16.3 per cent, the consultancy noted.

Knight Frank's head of lettings, Tim Hyatt, said: "With strong rental growth outpacing improvements in capital value for the last year, yields have begun to edge higher, much to the relief of landlords."

It is a trend that has not gone unnoticed by investors. The Council of Mortgage Lenders last week released figures showing that buy-to-let purchases were up in Q1 2011 compared to the same period a year earlier.

Lack of demand impacting UK property market

Fri, 15 Apr 2011 00:00:00 GMT

A lack of demand from domestic property buyers in the UK means that house prices in the country are likely to remain at the same level as they are currently at until 2012.

This is the opinion of Jon Brown, partnership manager at iammoving.com, who noted that there is a growing trend of people only putting their home on the market when demand is high.

He added that a number of homeowners are opting to take advantage of the buy-to-let market and rent their property rather than sell it.

Indeed, the release of figures from the Royal Institution of Chartered Surveyors appear to support Mr Brown's belief. Statistics from the company show that the housing market remained flat in March.

Across the UK, 23 per cent more chartered surveyors revealed that they had seen prices fall over the course of the month.

"The best case scenario [is that] things will carry on as they are or perhaps improve slightly, but I can't see much of a change in housing prices over the coming months," Mr Brown added.

UK landlords offered energy efficiency advice

Mon, 14 Feb 2011 00:00:00 GMT

Residential landlords with real estate in the UK have been handed advice on ways that they can make their properties more energy efficient.

The Association of Residential Letting Agents (ARLA) has revealed a number of ways that owners can take advantage of the government's new Green Deal initiative.

Under coalition plans, landlords could receive up-front financing to help ensure that their homes are as eco-friendly as possible.

The government’s aim is for all properties with an Energy Performance Certificate rating of F or G to be improved beyond that grading, which may be a significant challenge for older properties.

As such, ARLA has issued a set of simple tips for landlords to make their properties more efficient.

Among the tips offered to landlords include installing cavity wall, loft and floor insulation, as well as recommending that lagging should be installed around water pipes and boilers to minimise heat loss.

"It makes sense therefore for landlords to carry out these improvements straight away, as considerable cost savings can be made," said Ian Potter, operations manager of ARLA.

UK tenants bracing themselves for rent rises

Thu, 2 Dec 2010 00:00:00 GMT

A new property survey of individuals renting real estate in the UK has found that 42 per cent expect rents to rise in the coming year.

Rightmove has announced that the number of tenants expecting an increase went up in the fourth quarter compared to a year earlier, where just 37 per cent forecast growth.

The property website operator explained that the jump was likely to have been influenced by the shortage of new homes which are currently on the market.

However, despite the rising attractiveness of the buy-to-let market to potential investors at present, many are put off by the difficulties encountered when trying to secure a mortgage.

"That the combination of longer-term tenancy and improving rental returns provides a more stable and low risk investment should, in theory, increase the number of properties in the rented sector," said Miles Shipside, director of Rightmove.

"However, the influx will remain restricted to those investor landlords who have high levels of access to cash to lessen their reliance on hard to obtain mortgage funding."

London property market is popular with foreign buyers

Tue, 22 Jun 2010 00:00:00 GMT

Foreign investors will continue to take advantage of the "favourable conditions" in the London property market, it has been claimed.

According to the British Property Federation (BPF), many overseas buyers are looking to capitalise on the weakening pound, cheap debt and lower interest rates.

Andrew Teacher, media manager at the BPF, explained that interest rates are unlikely to remain at their current low level forever and many investors will be looking to enter the market before the bank is forced to push them up.

"Clearly opportunistic investors will make use of favourable conditions in the market," he said.

However, the property expert believes that prime properties in the capital will continue to be popular among buyers once the market recovers fully.

Research recently carried out by Savills revealed that 55 per cent of all real estate transactions which took place in London last year were by foreign buyers.

The organisation put the popularity of the market down to the weakness of sterling and the strong purchasing power of foreign currency buyers.

Trump's Scottish golf resort still going ahead

Wed, 25 Feb 2009 00:00:00 GMT

Donald Trump has said that his planned golf development near Aberdeen is still going ahead although Trump Entertainment Resorts, his casino company, has recently filed for bankruptcy. However, it will be at least 2013 before any housing in the Menie Estate resort is completed.

The Trump Organisation said that the coastal development near Aberdeen would be unaffected by the filing, reports The Financial Times. Trump's project director in Scotland, Neil Hobday, said that the Trump Organisation had "nothing to do" with the casino operation and was "in extremely good shape".

Trump was granted outline planning permission for the resort at the Menie Estate, which will create 950 holiday cottages in Scotland, last November. Alongside the holiday properties, the US tycoon plans to build two championship golf courses, a golf academy, 500 private family homes and 36 golf villas.

Hobday said that they hoped to finalise a detailed planning application for the resort this year and to have the final go ahead next spring. "If we are lucky enough to start digging dirt by this time next year, I would hope we would be playing golf by about the summer of 2012," he said. The cost of the scheme has been significantly reduced by the pound's weakness against the dollar, Hobday added.

There has been speculation that the global economic downturn could threaten the future of Trump's Scottish resort. "We all hope that in four years time the economic environment will have significantly improved," Hobday said.

The Trump Organisation has so far purchased the estate and will pay to develop the golf courses. However, according to Hobday, Trump will seek to bring in outside finance to help fund the construction of buildings.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 for holiday homes worldwide.

Property taking longer to rent out in Scotland as people choose to share to spread costs

Mon, 26 Jan 2009 00:00:00 GMT

The property rental market in Scotland is slowing with flats taking longer to rent out than a year ago, according to the latest quarterly report...

Landlords told to keep it clean

Thu, 22 Jan 2009 00:00:00 GMT

Landlords are being warned to clean up their properties – or face a £5,000 fine. Letters have been sent to property owners in Preston, asking them to deal with their tenants’ rubbish correctly. Lancashire Evening Post - 22 Jan 2009 Property owners of homes with three or more tenants are being asked to keep their yards and gardens...

Arrests in buy-to-let fraud investigation

Tue, 13 Jan 2009 00:00:00 GMT

Police have made eight arrests as part of their investigation into suspected large-scale buy-to-let fraud. All eight have been released without charge. Estate Agent Today - Monday 12th January 2009 The arrests follow the collapse into administration of Leeds-based Morris Properties, and its investigation by the Serious Fraud Office in conjunction with West Yorkshire police. In a separate...

Changes to housing benefit leaves poorest priced out of town

Tue, 30 Dec 2008 00:00:00 GMT

Charity warns that low earners will not be able to pay their rent under new allowance scheme Sara Gaines, guardian.co.uk, 30 December 2008 Reforms to housing benefit could push claimants into ghettos as tenants are forced to move to the outskirts of towns where housing is cheap but jobs scarce, a charity warned today. Shelter found that the...

Home reports needed for Scottish property sales

Mon, 1 Dec 2008 00:00:00 GMT

Property for sale in Scotland is now required to be marketed with a home report. The report will include a survey as well as a property questionnaire and an energy report.

The new home reports have been welcomed by consumer rights group Which and are the Scottish equivalent of Home Information Packs (HIPs), introduced in England and Wales last December.

The inclusion of a survey in the home report is expected to particularly benefit first time buyers who may not be able to afford one themselves and help them get on the property ladder. The property information questionnaire will be filled in by the seller and includes key information such as council tax banding.

Not every property for sale in Scotland will need a home report. For example, homes already on the market and newly built properties will be exempt. A full list of exceptions can be found in Which's guide to home reports.

David McLetchie, a Conservative member of the Scottish parliament, told The Telegraph that home reports could cost up to £800 and were a "disaster waiting to hit the Scottish housing market". However, Stewart Maxwell, Scottish communities minister, defended the move:

"This is the right time to bring this product forward - everybody agrees that the best time to do it is in a quiet market. The vast majority of sellers are also buyers and they will save money when they purchase their next home."

HIPs do not include a property questionnaire at present, but the government is said to be considering adding this requirement. A decision is expected by early 2009. Likewise, the HIP does not require the seller to include a survey.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Individual landlords "should be encouraged"

Thu, 27 Nov 2008 00:00:00 GMT

Landlords who do not use the services of estate agents should be encouraged rather than "pushed under the carpet", a property expert has stated...

Buy-to-let show reveals investment benefits

Tue, 25 Nov 2008 00:00:00 GMT

Landlords are in a great position to purchase new properties providing they carry out thorough research prior to making a purchase, it has been claimed...

‘Perfect time to invest’ in UK, ING tells institutions

Fri, 21 Nov 2008 00:00:00 GMT

Chief investment officer Ian Whittock tells investors UK is ‘opportunity of the decade’ Nick Duxbury, Property Week - 21 Nov 2008 Institutional investors should return to the UK property market because ‘it is the opportunity of the decade’, the world’s biggest property fund manager said this week. Ian Whittock, chief investment officer at ING Real Estate UK, said: ‘It...

Tax-cut gamble will let Britain buy now – but we’ll certainly pay later

Thu, 20 Nov 2008 00:00:00 GMT

On Monday Alistair Darling delivers the most important Budget statement in a generation. Today we examine the health of the nation’s finances and the outlook for key social services Gary Duncan, Economics Editor, The Times - 20 November 2008 Poor Alistair Darling. Less than three months ago the Chancellor was lambasted for saying that Britain was heading...

Landlord Accreditation Scheme launched

Thu, 20 Nov 2008 00:00:00 GMT

As Dorothy said there is no place like home and having a safe, comfortable home is a priority for everyone. With this in mind the Welsh Assembly Government and Cardiff Council, supported by the 21 other Local Authorities in Wales has developed the Landlord Accreditation Wales scheme. November 20th, 2008 The Landlord Accreditation Wales scheme recognises good...

Short-term landlords 'looking to sell'

Wed, 12 Nov 2008 00:00:00 GMT

The number of property owners who turned to letting after struggling to sell their homes in the current market is decreasing, according to Cluttons...

Flats glut becomes urban nightmare for some

Fri, 17 Oct 2008 00:00:00 GMT

LONDON(Citywire) - Buy-to-let investors have been big buyers of new city centre flats, many of which have suffered some of the biggest price falls in the property market. And although the 0.5% cut in mortgage rate will make buy-to-let borrowing cheaper for those buying, it will do nothing for those who are trying to remortgage a buy-to-let flat that is nearly 20% off the original purchase price...

Housing market 'slump' results in rental increase

Tue, 23 Sep 2008 00:00:00 GMT

The current housing market difficulties have resulted in an increase in demand for rented properties, a letting agent has stated...

Number of rentals ’soars by 20%’

Tue, 9 Sep 2008 00:00:00 GMT

The number of people renting a home has soared by nearly 20% during the past three months as the housing market turmoil puts people off buying a property, a survey shows. LoughboroughEcho.net - Sep 9 2008 Around 64% of letting agents outside of London said demand for rental property outstripped the number of homes they had on...

Rental property needs to stand out

Thu, 4 Sep 2008 00:00:00 GMT

Owners of rental accommodation overseas have been urged to make their properties stand out when promoting it online.

According to Sarah Chambers of Holiday-Rentals, it is a good idea for investors to market their residence to consumers on the internet.

She stated that advertising on their own website would be beneficial to property owners, along with displaying their homes on other online portals.

Speaking to the Independent, she said this would help ensure that an investor's property is visible to prospective visitors.

Ms Chambers commented: "You need to advertise somewhere where you'll definitely be seen."

She added that property owners need to display "great" photos and descriptions of every room, along with information on available facilities and the surrounding region.

According to market research group Datamonitor, people in the UK and Ireland currently own more than 3.8 million overseas properties.

Student cities offer strong returns for buy-to-letters

Sun, 24 Aug 2008 00:00:00 GMT

The stand-off between buyers and sellers is driving the rental market, writes Teresa Hunter...

‘Turbulent times’ predicted for North East house prices

Fri, 22 Aug 2008 00:00:00 GMT

The North East has had the fastest increase in house prices in the past five years according to a new report from the National Housing Federation. Jon Land for 24dash.com in Housing - Wednesday 20th August 2008 However the document - researched by independent economists Oxford Economics - forecasts a fall in house prices through to 2011...

Foxtons case leaves agents in limbo over renewals

Fri, 22 Aug 2008 00:00:00 GMT

The challenge to Foxtons, the London agents, by the Office of Fair Trading over the charging of renewal fees is continuing to have repercussions – which could prove costly – for agents all over the UK. Estate Agent Today - 21 August 2008 The OFT announced its HIgh Court action earlier this year and immediately agents found...

UK to sign four new double taxation treaties

Wed, 20 Aug 2008 00:00:00 GMT

The UK is to sign four new double taxation treaties next year. The government is also negotiating with several other countries to establish new information sharing agreements.

HM Revenue and Customs (HMRC) is preparing to sign new double taxation treaties with the Netherlands, Thailand, Libya and Ethiopia, reports Overseas Property Professional (OPP). The new treaties would come into effect as of March 31st 2009.

Double taxation treaties aim to help UK residents avoid being taxed in two countries when income, such as rental income, and capital gains tax arise in a foreign country. Such treaties are particularly of interest to international second home owners and companies.

"The UK has a comprehensive network of bilateral double taxation conventions and we are committed to maintaining and strengthening this network. These agreements help UK business and investors to remain competitive by providing them with a measure of certainty and stability in their tax affairs," said financial secretary Jane Kennedy.

As well as the four announced new treaties, work on tax information agreements with Brazil, Jersey, Guernsey, the Isle of Man and the British Virgin Islands is expected to be completed by the end of March 2009.

The UK has double taxation treaties with over 100 countries and the last two years have seen the HMRC sign ones with:

Slovenia
France
Macedonia
The Faroe Islands
Saudi Arabia
Moldova

Furthermore, protocols to double taxation treaties have been signed with Switzerland and New Zealand, and a tax information agreement with Bermuda.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Supply of rental properties rises

Tue, 19 Aug 2008 00:00:00 GMT

The number of properties up for rent has jumped as people who cannot sell their homes decide to let them instead...

Rental market booms as July housing sales diminish

Tue, 19 Aug 2008 00:00:00 GMT

The rental market is booming as the continued downturn in the housing market led to falling sales in July, according to the RICS...

Frustrated home-sellers opt to let over sell

Tue, 19 Aug 2008 00:00:00 GMT

LONDON (Reuters) - Plummeting house sales and depleted mortgage markets have led to a surge in demand for rented housing, tempting many frustrated home sellers into renting, the Residential Lettings Survey from the Royal Institution of Chartered Surveyors (RICS) showed on Tuesday...

Landords 'would rather rent out property than buy'

Tue, 19 Aug 2008 00:00:00 GMT

Property owners are increasingly more likely to rent out their homes than move elsewhere, reports suggest...

Buy-to-let market to shrink by two-third

Mon, 18 Aug 2008 00:00:00 GMT

LONDON (Reuters) - The amount of privately rented accommodation is likely to shrink by about two-thirds in the next few years as more investors pile out of the buy-to-let market, savings group Skandia said on Monday...

Homeowners advised to avoid inheritance tax by passing second home on now

Mon, 18 Aug 2008 00:00:00 GMT

Elderly owners of second homes are being advised to pass their property on now in order to avoid inheritance tax. Rent could then be paid to their beneficiaries for the time the property is occupied.

In order to avoid a 40 per cent inheritance tax bill on their holiday home, homeowners should consider passing on their second home to their beneficiaries now, advises wealth management lawyers Moore Blatch.

More mature second home owners may have their inheritance tax limit - £624,000 for a married couple - wiped out by their primary UK residence, leaving their second property open to the 40 per cent inheritance tax. However, they could get rid of this liability in seven years by giving their second home to their heir now and then paying rent to use it. The only tax that would need to be paid would be income tax by the beneficiaries on the rent paid.

"Property is notoriously hard to give away for the purposes of inheritance tax planning as it is a single asset that is difficult to give away piecemeal. However, by setting up a suitable trust all the inheritance tax can be saved and there is no pre-owned asset tax as a rent is paid for the use of the asset. The rental income stays with the beneficiaries so the tax-man's cut is effectively wiped out," said Andy Kirby of Moore Blatch.

According to the firm's figures, there are an estimated 350,000 holiday homes in England and an estimated 260,000 people own second homes abroad.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Reform of British private rented sector recommended

Thu, 14 Aug 2008 00:00:00 GMT

The Law Commission has announced plans to reform Britain's private rented and buy-to-let market. The plans focus on tightening the regulation of, and improving the standards in, the market.

The reforms of the private rented and buy-to-let market are intended to improve the sector's self-regulation, reports The Financial Times. Under the planned reforms, laid out in the Housing: Encouraging Responsible Letting report, a housing standards monitor would be set up to ensure quality in the market.

The Law Commission's report also recommended a single code of housing management practice for landlords, making landlord accreditation schemes available in every local authority area and creating a pilot programme for home condition certificates.

The report, presented to parliament yesterday, was written following consultation with both landlords and tenants. The Law Commission also recommends that independent evaluation and development is carried out with regards to appropriate incentives to make the reform programme attractive to landlords.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

BPF welcomes buy-to-let reforms

Thu, 14 Aug 2008 00:00:00 GMT

The BPF has backed Law Commission reforms of the priavte rented retail sector...

Landlords urged to research local rental market

Wed, 13 Aug 2008 00:00:00 GMT

Many buy-to-let landlords are benefiting from rising rents and growing demand for accommodation in the first year of the credit crunch, says the National Landlords Association (NLA)...

One in ten in rent arrears

Mon, 11 Aug 2008 00:00:00 GMT

More than one in ten buy-to-let tenants are in rent arrears due to rising costs of living. According to research by AXA, the number of private renters slipping into arrears because of rising rent is increasing. 13 per cent of renters have gone into arrears in the past 12 months, with over half of these doing...

Rent rules hitting landlords

Mon, 11 Aug 2008 00:00:00 GMT

LANDLORDS claim they are missing out on cash because of changes to the way housing benefit is paid. New national rules mean that benefit payments are made to tenants, rather than directly to landlords. Mirfield Reporter - Money 11 August 2008 Malcolm Harrison, who rents out 12 properties in the area, said he has had trouble with people...

Good news for UK buy-to-let landlords as numbers of tenants rise sharply

Mon, 11 Aug 2008 00:00:00 GMT

A sharp increase in demand for rented accommodation in the UK is good news for buy-to-let investors as it appears to be an upward trend. But tenants are also coming under financial pressure, facing higher energy bills and worried about being able to pay their rent, new research shows. According to estate agency Your Move there was...

Rent reform calls hot up

Fri, 8 Aug 2008 00:00:00 GMT

Retail industry heavyweights led by Sir Philip Green and Lord Harris are set to meet landlords next month with a shopping list of demands for wide-ranging rent reform...

High fashion is dedicated follower of central London

Fri, 8 Aug 2008 00:00:00 GMT

Missoni, Lanvin and Damien Hirst defy gloom and pay top rents in Chelsea and Mayfair...

Valad buys City of London block for student housing

Fri, 8 Aug 2008 00:00:00 GMT

Australia’s Valad Property Group has bought Therese House in the City of London for £30m from HG Mansur for its £200m University Capital Trust fund...

Prices Set to Rise Again by 2010

Thu, 7 Aug 2008 00:00:00 GMT

Property prices may be booming again by 2010 as the sharp fall in housebuilding threatens to see demand outstrip supply, according to a report from The Centre for Economic and Business Research (CEBR). Press Release - The Centre for Economic and Business Research - 7 August 2008 It said a halt in housebuilding amid the credit crunch...

Rentals market is bucking the trend

Thu, 7 Aug 2008 00:00:00 GMT

THE area director of Connells estate agents in Plymouth – who has 25 years experience in the city – has told The Herald the property rental market is ‘buoyant’. Plymouth Herald - 07-August-2008 John Waldron, a former chairman of the Plymouth Area Surveyors and Estate Agents Association, said despite the credit crunch the city’s rental market is...

Picking the wrong route to recovery – a landlord fails to recover service charges

Tue, 5 Aug 2008 00:00:00 GMT

Barrister Mark Warwick, who acted for Mott Macdonald in the case discussed in this article, describes how the courts have now ruled that landlords must strictly follow the terms of leases when recovering service charges. An important case decided in the Court of Appeal last week (note to eds: July 23rd 2008) has sounded a wake...

Gordon Brown may suspend stamp duty

Tue, 5 Aug 2008 00:00:00 GMT

Gordon Brown may suspend stamp duty in order to revive Britain's property market. The plan to drop stamp duty spearheads an economic recovery package according to recent reports.

Details of the temporary suspension of stamp duty are being worked on by Treasury officials, claims The Sun. Home buyers have paid £31.5bn in stamp duty over the past ten years, however ministers now fear that the duty is putting people off buying property, causing Britain's property market to stagnate.

The plans for the emergency package to help kick-start Britain's economy, including abolishing stamp duty, will be presented to Gordon Brown at the end of August when he returns from the closing ceremony at the Beijing Olympics.

Speaking to The Times in July Gordon Brown hinted that changes to stamp duty were possible: "Stamp duty is always a factor when people buy and sell houses but we need to make sure that we support the financial system too."

Stamp duty is currently paid on a sliding scale depending upon the value of the property being purchased. The tax is currently levied at one per cent for properties worth between £125,001 and £250,000, three per cent for those worth £250,001 to £500,000 and four per cent for those over £500,001.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Downturn in London tourism industry

Mon, 4 Aug 2008 00:00:00 GMT

London investors could be feeling the pinch with the official London tourism authority, Visit London, predicting that tourism levels in the capital will fall in the next few years. Last year, over 25 million people visited London and contributed nearly £16.6 billion towards the travel and tourism industry ensuring that property investors with stakes in hotels...

Almost 50 per cent of British workers invest in property rather than pensions

Fri, 1 Aug 2008 00:00:00 GMT

New research reveals that almost 50 per cent of British workers are using property as an alternative to a conventional pension. Investment in property is seen as a safer option by many.

Investment in property is proving a popular alternative to pensions, it has been revealed. New research by employee benefits provider B&CE Benefit Schemes shows that 44 per cent of British workers have chosen property investment in order to save for their retirement.

The most common reason behind this trend is that property investors think that they will have more control over their investment this way. However, 12 per cent of those choosing to invest in property did so because they don't trust pensions.

Overall 18 per cent of workers are saving for their retirement in some way other than contributing to a pension. The main reasons why workers are using alternatives to pensions were found to be: perceived tax advantages; control; flexibility and return. Alongside property, ISAs were the most popular alternative form of saving for retirement.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Climate change worries not denting foreign property market-310708

Thu, 31 Jul 2008 00:00:00 GMT

Second home owners in the UK are not allowing concerns about climate change put them off enjoying their foreign property, according to a new study.

Research by Holiday-Rentals found that two-thirds of people with a residence abroad will not stop using their holiday home, even if travel operators introduce so-called green taxes.

Greg Grant, managing director of the organisation, said this shows how taking breaks abroad is still a major priority for consumers, despite the credit crunch and environmental concerns.

He commented: "As a result, we expect to see continued growth in the holiday home rentals market, both in terms of supply and demand."

Mr Grant added that purchasing an overseas property, both for leisure and investment purposes, is still a "key aspiration" for many British people.

Last month, a study by eDigitalResearch revealed that nearly three-quarters of British consumers plan to spend at least a week abroad later this year.

Professional landlords 'well placed' for more investment

Thu, 31 Jul 2008 00:00:00 GMT

Buy-to-let yields in June remained stable at 6.4 per cent for the second month in a row, new figures have revealed...