The latest edition of the English Housing Survey reveals precisely how relatively rarely Section 21 is used. Data from the survey analysed by Propertymark shows that in 2022-23, some 63% of private renters who had moved in the previous 12 months stated they ended their tenancy by choice. Job-related reasons were the most common driver, followed by wanting a larger property or to live in a better area. Only 9%… Continue Reading Section 21: Small Proportion Of Renters Evicted

It’s been reported over the weekend that the independent Office for Budget Responsibility predicts Labour will miss its housing target of 1.5m new homes in England by the end of this Parliament. The OBR predicts that 1.3m homes will be built during that time over the whole UK. Looking at England alone, only 1.1m will be built – some 400,000 fewer than Labour’s manifesto commitment. The office says its forecast… Continue Reading Forecast says Labour will miss housing target

A newly formed right-to-manage company has appointed Principle Estate Management to look after central London Flats Scheme worth £250m. Portman Towers is located just off Portman Square and opposite Montagu Square in W1. The property hosts 88 flats across 11 storeys in two blocks, with each unit commanding £3m or more. Principle’s London office won the job after a tender by The Property People, a consultancy handling property management changes… Continue Reading London Flats Scheme Latest Management Success

Letting agents around the country have reported that institutional and corporate landlords are moving in to buy stock from exiting landlords. The RICS UK Residential Property Survey for December reveals that agents expect further rent rises in the next few months, likely due to a continued trend of landlords placing their properties for sale, (net balance of +37%, up from +29% in November) leading to a lack of supply for… Continue Reading Corporate Landlords Filling Voids By Small Landlords

The proportion of incorporated property held by portfolio property landlords who utilise limited companies has more than doubled in five years. Research conducted by Pegasus Insight on behalf of Paragon Bank found that 12% of portfolio property landlords use a mixture of individual and limited company ownership. Of those, an average of 76% of the portfolio, or 13.1 properties, were incorporated at the end of the third quarter of the… Continue Reading Portfolio Property Landlords Using Companies Double

Fees for joining the government scheme Redress and landlord database could be “significantly higher” following further amendments to the Renters’ Rights Bill. The government scheme and database calculations have been updated to include the expected cost of enforcing the Act and running them. According to the government’s previous impact assessment, the estimated cost for joining the scheme is an average £6 per landlord per property, with a database registration fee… Continue Reading Landlords Higher Bills To Join Government Scheme

Lettings agency group Sheldon Bosley Knight has entered a strategic partnership with deposit alternative service flatfair. This includes all of SBK’s brands, including the recently acquired Loveitts. They will all now offer flatfair’s No Deposit product. Rebecca Dean, lettings director at Sheldon Bosley Knight, says “Letting a property comes with lots of uncertainty for landlords, so we are always looking for ways in which we can improve our services and… Continue Reading Agency To Sign Up To Deposit Alternative Service Flatfair

TSB has launched its new 5&5 concessionary mortgage for landlords looking to sell their properties to tenants with no deposit required. The new 5&5 concessionary mortgage will mean landlords can offer tenants a 5% discount on the purchase price, with the buyer contributing their own deposit on top – a minimum of 5%. The loan will operate in addition to the bank’s 10% scheme where landlords sell their property to… Continue Reading 5&5 Concessionary Mortgage Helps Tenants To Buy

The latest Nationwide house price index shows detailed breakdowns of the price growth of different property types. The lender’s most recent data on property types reveals that terraced houses have seen the biggest percentage rise in prices over the last year, with average prices up 4.4% in 2024. Flats saw a recovery in price growth, recording their best year since 2021, with a 4.0% rise. Semi-detached properties recorded a 3.4%… Continue Reading Which Property Types Enjoy Largest Price Growth

The number of mortgage approvals made to home buyers dipped in November, although it remained above the monthly average housing market figures seen over the past year, according to Bank of England figures. Some 65,700 mortgage approvals for house purchases were recorded in November. That’s some 2,400 lower than October but above the previous 12-month average of 60,400. Approvals for remortgaging (which only capture remortgaging with a different lender) decreased… Continue Reading Surprise Housing Market Figures Disappoint Agents

“Upcoming changes to stamp duty are likely to generate housing market volatility, as buyers bring forward their purchases to avoid the additional tax.” The housing market has enjoyed a strong start to 2025 with the Nationwide reporting average prices up 4.7% over the preceding 12 months. Northern regions saw higher price growth than southern regions, with Northern Ireland actually being the best performing area for second year running, with prices… Continue Reading Housing market volatility ahead despite strong start to 2025

The Renters’ Rights Bill will return to the House of Commons on 14th January for the renting reforms report stage and third reading. All MPs can speak during the report stage when only amendments are discussed, while the third reading is a general discussion immediately afterwards when no amendments are possible. The Bill will then need to pass through the House of Lords, but should peers make any amendments, it… Continue Reading Renting Reforms To Move Forward

Stamp duty rise will almost double from £8,452 to £16,190 in April, an increase likely to spark higher rental costs as landlords attempt to recoup costs. Research from property giant JLL reveals that the threat emerged after Chancellor Rachel Reeves confirmed plans to undo tax breaks brought in by the Conservatives and increase stamp duty on second homeowners from 3% to 5%, The Telegraph reports. Based on the average price… Continue Reading Landlords to pay double stamp duty in April

Domestic energy prices have risen this week. It’s the second increase in Ofgem’s price cap this winter and means tenants and others paying by direct debit and using a typical amount of gas and electricity will pay £1,738 a year. That’s £21 a year more than under the previous cap, and takes bills to some 50% higher than pre-Covid levels. Respected energy prices forecast service Cornwall Insight is warning there’s… Continue Reading Agents, Landlords And Tenants Set For Energy Prices Shock

The landlord exodus renting crisis is a once-in-a-generation opportunity for councils to buy up properties and restore what was lost under Right to Buy, according to a campaigning think-tank. The New Economics Foundation (NEF) believes housing bought by local authorities creates good opportunities and a massive revenue boost in the long term, reports The Big Issue. Rather surprisingly, the publication acknowledges that nearly a third of landlords are looking at… Continue Reading Thinktank Reveal Unusual Solution To Renting Crisis

Landlords think the stamp duty change coming this spring will encourage tenants to stay longer, a new survey has found. Buy-to-let lender Landbay’s most recent landlord survey asked landlords: “The Government will not extend the temporary stamp duty threshold for buyers past the end of March next year. How do you think this might affect the rental market?” Forty nine per cent of landlords replied that they thought more tenants… Continue Reading Longer Tenancies Likely Thanks To Stamp Duty Change