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...Specification: Demand and supply, price elasticity of demand, price elasticity of supply Click to read the article and then answer the questions: UK rental costs rise at record 9.2% Identify two supply-side...
...The London rental market has started to “normalise” after a year of short supply and record recent increases in rents, according to Foxtons, with fewer prospective tenants chasing each listing....
...There has been “an explosion of the supply” across holiday rental platforms including Airbnb, Abritel and Booking.com, according to Lycaon Immo co-founder Stéphane Daumillare, who says there are currently...
...Campaigners representing private tenants want local authorities to cap holiday rentals in problem areas, such as where conversions to short-term lets or second homes almost outpace the supply of new houses...
...“The last two years have been characterised by an ongoing imbalance between rental supply and demand . . ....
...The government has been encouraging institutional investors to put money into building and owning rental homes, including student and retirement housing, to help increase supply and bring down prices....
...Hunt also abolished the furnished holiday lets regime, which gives tax breaks to holiday rental businesses....
...Higher borrowing costs on mortgages have forced some buy-to-let landlords to sell their properties, reducing supply, or pass on the increases to their tenants....
...Someone must take the risk in exchange for the reward of future rental growth. It could be the government, as under the old arrangements....
...Lucian Cook, head of UK residential research at estate agent Savills, conceded the short-term rental market had taken much needed housing stock out of the private rental sector....
...That restricts housing supply and, combined with unaffordable mortgage rates, increases demand in the rental market, thus generating shelter inflation....
...Use FT articles mapped to the curriculum below: Demand and supply: UK rental costs rise at record 9.2% Scarcity and choice: ‘It’s too wet’: UK food security at risk because of record rain, farmers warn...
...Then there is the issue of water supply....
...In principle, the rental and owned-home market are substitutes....
...“Older A320s are potentially able to realise around one-third higher monthly rental today than they were at the peak of the last demand cycle.”...
...There were signs of cooling in the still hot rental market....
...The agent benefited from fierce competition for a reduced supply of rental homes in London last year as high borrowing costs pushed some landlords out of the market and drove up rents....
...The company’s last proxy filing states that he remains eligible for free Hertz car rentals for the rest of his life....
...or worries about disruptions to supply....
...“It is critical that the volume and quality of supply of rental homes improves, which requires professional investors to step in as traditional sideline private landlords exit in droves,” she added....
...Tenants have been hit by skyrocketing rental costs in recent years after prolonged high demand and constrained supply. Many landlords have also passed on the costs of higher mortgage interest rates....
...Limits on rental income have compounded the long-term effect of a near two-thirds cut to government funding for new social and affordable housing under the 2010-15 Conservative-Liberal Democrat coalition...
...And if there are more people in the market for rentals, rental prices — a core component in the consumer price index — will increase,” says Stiglitz....
...Calculations of OER are dubious (it is imputed based on rents for comparable rental housing). The EU HICP and UK’s CPI measures — which the ECB and BoE target, respectively — exclude it....
...Surging rents and a lack of housing supply have made it difficult for most renters to find affordable housing in the UK....
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