Sarah Beeny: Things to look out for when viewing a property
UK house prices rose by more than 10% last year, the fastest rate of growth in 15 years. The price of an average house in the UK hit a record £254,822 in December, according to data released by the Nationwide building society. Average earnings, on the other hand, rose 4.9% in the year to last October, according to the Office for National Statistics.
The rental market, meanwhile, is feeling the effects of increased demand for high-quality rental housing.
The pandemic has caused individuals to take a greater interest in their own space, as property expert Bruna Pani of We Buy Any House told Express.co.uk that prices were at their highest level in 13 years.
The crisis is only getting worse with AirBnB’s appeal to landlords.
Properties are increasingly listed on the online market which mainly offers vacation rentals, making it even more difficult for people looking for a long or medium term residence.
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AirBnB slated for £2,000/mo to ‘depress single bed in hallway’ amid housing crisis (Image: GETTY)
Rooms like these would probably cost upwards of £1,500 a month. (Image: GETTY)
YouTuber Evan Edinger bounced between different AirBnBs while waiting for the home buying process to be completed.
He offered insight into how much, or rather how much, £2,000 a month gets you in London.
Among the alarming rooms on offer was a sofa bed and a small chair, at £38 a night. That’s over £1100 a month.
Mr Edinger wondered if the increased budget could ensure tenants stay in a nice place.
Evan Edinger called this bedroom “a depressing little single bed in a hallway” (Image: YouTube: Evan Edinger)
He found another property, or rather a room, in Kensington at £73 a night, or £2190 a month.
While early images of the shared living spaces were impressive, with a cute living room and restaurant-like dining room, the bedroom fell short of expectations.
Reminiscent of a hollow dorm room, Mr Edinger described it as a “depressing little single bed in a hallway” with a tiny TV you’d “need a magnifying glass” to watch.
Mr Edinger said: ‘Do you want to go on holiday to a beautiful destination, or would you rather stay two or three nights in this little hellhole in Kensington?
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The government is set to crack down on suspicious rental properties. (Image: GETTY)
He added: “Would you like to sleep in a hallway? Now you can, welcome to London. £73 a night, £2,000 a month to sleep in a hallway. »
Mr Edinger however added that he was paying around £45 a night for a large double room on the Isle of Dogs.
A similarly sized room on the SpareRoom flatshare service would probably have cost him less than £1,000, but mid-term rentals on these sites are much harder to come by.
The government recently announced a crackdown on short-term vacation rentals.
Edinburgh is home to more than a third of AirBnB rentals in Scotland. (Image: GETTY)
MPs in popular holiday destinations, as well as north of the border in Edinburgh, have expressed concern that locals are being driven out due to a lack of rental properties.
According to ST News, Edinburgh is home to around a third of all short-term rentals in Scotland, with thousands of properties in the city no longer in residential use.
The Scottish Government confirmed last week that any property used as a holiday rental, including AirBnBs, must apply for a license from local authorities by April 2023 in order to operate.
The Department for Leveling Up, led by Michael Gove, earlier this month announced a tax crackdown on second home owners who ‘pretend’ to let their properties out. From April 2023, properties must be rented for at least 70 days per year to qualify for business rates under the new rules.
In a debate in the House of Commons, Isle of Wight Conservative MP Bob Seely said the village of Seaview had been ‘effectively stripped of permanent life’ with 82% of properties being second homes .
Upgrading Secretary Mr Gove said: “The Government is supporting small businesses, including responsible short-term rentals, which attract tourists and bring significant investment to local communities.
“However, we will not sit idly by and allow those in privileged positions to abuse the system by unfairly claiming tax breaks and leaving local people to count the cost.”
An Airbnb spokesperson told Express.co.uk they had led calls for a registration system in the UK, which would help local authorities regulate home sharing. They are also calling for new planning guidance that distinguishes between commercial and non-commercial activities and would allow local authorities to grant permissions or restrict activities more transparently.
The spokesperson added: “The majority of UK hosts share space in their own home, and around 1 in 3 say the extra income is an economic lifeline. We take housing issues seriously and are clear that there is no place for unscrupulous landlords on Airbnb.
“We want to be good partners with communities and have already put forward proposals for a host registration system which is being pushed forward by the UK government, and we are committed to investigating concerns brought to our attention about the ‘unlawful eviction of tenants’.
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