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Tuesday, March 08, 2016

Latest Tenant Arrears Tracker

Tenants finances stable

Reeds Rain and Your Move's Tenant Arrears Tracker for Q4 2015 shows a fall in the number of tenants in arrears.

The agents data shows 82,900 households owed more than two months’ late rent, in Q4, 2015,  down  from 84,200 in Q3 2015. 

Eviction orders fell slightly to 26,676 in Q4 2015, compared to 26,775 in Q3 2015, and 28,167 for the same period a year before.

Director, Adrian Gill,  comments: 

“Private renting is still absorbing thousands of extra households every month – housing millions more than just a few years ago. As this tenure of housing and this way of living grows, affordability is the issue that goes hand-in-hand with questions of capacity. 

An individual tenant is still extremely unlikely to fall into serious rent arrears. In fact the proportion of renters getting seriously behind on payments has dropped considerably over the longer term. But absolute numbers are now going the right way too. With fewer people at risk from more serious consequences of struggling to pay the rent, this is great news.”

Landlord finances appear healthier

Buy-to-let mortgage arrears also fell, with landlords in repayment arrears down to 5,500 cases in Q4.

The number of buy-to-let mortgages in arrears has dropped by 54% since standing at 11,900 cases in Q4 2014.

btl mortgages in arrears graph q4 2015

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