Dataloft (now PriceHubble)

📊 🇬🇧 Does BTR offer a solution?    The latest rental affordability figure for July increased yet again, reaching its highest level since our tracker began, at 28.8%. 📈   Our monthly 'Affordability Tracker' for the UK rental market monitors trends in renters' affordability. It's published in the Housing section of the Office for National Statistics' weekly bulletin of real-time indicators, 'Economic Activity and Social Change in the UK'.   It was also featured in the Financial Times last week in an article highlighting that rental affordability in the UK is at its ‘worst level in more than 7 years’. Does BTR offer a solution? PriceHubble’s Sandra Jones comments: "This is proof if we need it that we have a problem with housing affordability in the UK, and that renters are paying the price. The simple truth is that rents have been rising faster than earnings. There are a number of explanations. Landlords deciding to exit the market is one, but we know that there are new landlords entering the market too, so that is not the whole story. HMO licencing and the imposition of minimum room sizes has reduced supply, especially in the big cities because renting the ‘box room’ is no longer an option for sharers. That’s a lot of rooms taken out of the system. The appeal of short-term rents is another cause. At the same time, many renters want a spare room to work from home if they can afford it. Rents cannot continue to outpace wages growth like this indefinitely and we already see the rate of growth moderating. These findings underscore the importance of the Build to Rent sector in delivering well-built, well-managed, and affordable long-term housing solutions, especially for the ‘squeezed middle’ in the UK’s broad and diverse renter population”. 🔎 Read the full analysis online: https://lnkd.in/ezWZQTds (Please note: the article is behind a paywall). #RealEstate #PropertyMarket #RentalAffordability #HousingSolutions #BTR #UKHousingMarket #PropertyMarketInsight #PriceHubble #Dataloft

🏥 How far do NHS workers live from their workplaces? 🏥 In our latest PriceHubble research, we examined the housing challenges faced by NHS workers in the UK. We found that an affordable housing shortage is forcing NHS workers, often working long and anti-social hours, to live further from their place of work. We were able to identify a sample of over 30,000 NHS workers in the Dataloft Rental Market Analytics (DRMA) dataset who had moved into private rented homes in 2023. They represent around 5% of all renters and, unsurprisingly, they are clustered within reasonable distances of large hospitals. How close depends, in part, on the availability of affordable rental housing. Compared to the wider population of private renters, NHS workers live significantly closer to their place of work. We found 35% of NHS workers in the private rental sector live within 2 miles of their workplace, compared to 22% of non-NHS workers. The median distance is 3.6 miles for an NHS worker and 6.2 miles for other renters. Lower paid NHS workers tend to live closer to their workplace than those on higher incomes, underlining the importance of affordable housing. To find out more about the housing challenges faced by NHS workers, download the full study now: https://lnkd.in/egqe9w6B 📊📉 The analysis is based on our Dataloft Rental Market Analytics dataset, the UK’s most comprehensive source of achieved rents and renter demographics. #NHS #HousingMarket #AffordableHousing #PriceHubble #PropertyMarketInsight

Can Labour lead an urban revival in the UK? The new UK government is aiming to ‘get Britain building again’, with a target of 1.5m homes to be built in England over the next few years. This bold declaration comes with many challenges, one of which is to address the housing affordability issues faced across the country. In analysis for our client, Thriving Investments, we highlight that over 80% of key workers in the most unaffordable areas of Manchester, Birmingham, Bristol, Bath and South Wales were paying more than 30% of their income on rent. Many thanks to IPE Real Assets for publishing the findings. To read this wide-ranging and insightful article about the challenges ahead, visit https://lnkd.in/eBRbtzWb Our analysis is based on the Dataloft (now PriceHubble) Rental Market Analytics dataset, the UK’s most comprehensive source of achieved rents and renter demographics. #HousingMarket #AffordableHousing #PriceHubble #PropertyMarketInsight

📊 🇬🇧 PriceHubble's Real Estate Economist, Julia Middleton recently presented her latest thoughts on the UK housing market outlook. Subscribers to Dataloft by PriceHubble, our market data and insight platform, had early access to this webinar and have exclusive access to insight and analytics on local markets across the UK. The headlines from the webinar are: 🏡 Political stability is a welcome boost for housing market sentiment. So too is the new government’s pro-growth agenda and ambitious targets for housebuilding. Indeed, improved sentiment was reflected immediately in housebuilder share prices which rose as the election result was announced.   📈 The recovery in the sales market has continued to solidify, although it lost a little momentum in the weeks before the election and confirmation of the interest rate cut.   📊 Stable prices provide buyers and sellers with more certainty. While transaction levels remain low, leading indicators for activity are strengthening. Indeed, mortgage approvals are now almost back to their long-term trend. Affordability metrics are encouraging too, underpinned by improvements in mortgage rates and continued strong earnings growth.   To watch the webinar in full, visit: https://lnkd.in/eDiKeePh #pricehubble #dataloft #propertymarketinsight #housingmarket #propertydatasolutions

📊 🇬🇧 We recently presented our thoughts on the outlook for the UK Housing Market. Subscribers to Dataloft by PriceHubble had early access to the webinar and have exclusive access to insight and analytics on local markets across the UK via our platform. The rental market headlines were: 🏡 Rents continue to rise but the pace is now slowing. Leading indicators are showing a slowdown in renter demand and an improvement in supply of homes to rent. 📈 UK rents grew by 5.2% in the year to July 2024 but this has almost halved from 10.3% in July 2023. Rental growth is expected to continue to ease back in 2024, broadly in line with earnings growth forecasts. It is forecast to moderate to 2.5% by 2028. 📊 Affordability is critical. As a benchmark, spending more than 30 percent of your income on rent or interest payments is generally seen as problematic. Renters across the UK paid an average 32.7% of their income on rent in July. To watch the webinar in full, visit: https://lnkd.in/eDiKeePh #pricehubble #dataloft #propertymarketinsight #housingmarket #propertydatasolutions

The sixth edition of 'Who Lives in Build to Rent' was published this year and PriceHubble was delighted to be involved in analysing the findings. For all the latest trends in the fast-growing UK Built to Rent market, this is a must read.

Find out more about the considerable affordability pressures for NHS workers in our latest analysis.

It has been a pleasure working with Berkeley on this project. Our PriceHubble UK Managing Director, Sandra Jones is looking forward to presenting a range of compelling insights that highlight the excitement surrounding Oval Village and paint a picture of why Oval is a great place to live and work.

A busy month for PriceHubble! Explore some of our highlights in July.

We've just published some fascinating PriceHubble analysis using Dataloft Rental Market Analytics on the increasing housing challenges faced by NHS workers as part of our key worker series. Do follow PriceHubble on LinkedIn for regular insights into the property market.