Secretary of State tells newspaper over the weekend that he also intends to ban developers who don’t replace cladding on at-risk towers. Housing secretary Michael Gove admitted over the weekend that wishes to see the leasehold system through which most apartments and many houses are sold, abolished. “I don’t believe leasehold is fair in any way. It is an outdated feudal system that needs to go. And we need to…
The Fire Safety (England) Regulations 2022, which implement the majority of the Grenfell Tower Inquiry recommendations, came into force this week on 23 January 2023. These are new requirements for ‘responsible persons’ of mid and high-rise blocks of flats to provide information to fire and rescue services to assist them with operational planning and provide additional safety measures. In all multi-occupied residential buildings, residents should now be provided with fire…
Agents’ body Propertymark wants more government action to boost housing supply – and it wants the views of the industry on the issue. In December the Department for Levelling up Housing and Communities launched a consultation on its upcoming planning reforms. Propertymark says it wants the views of agents and other industry players ahead of making its response to the consultation. Timothy Douglas, Head of Policy and Campaigns comments: “Propertymark…
The Labour Party is to launch a major review of the private rental sector, led by the head of a London council. Few details have yet been released but on Saturday the review was announced by shadow Levelling Up Secretary Lisa Nandy. The review is to be led by Stephen Cowan, the leader of Hammersmith and Fulham council. Nandy says: “Housing isn’t a market. It’s a fundamental human right. “That’s why Labour has…
Proposed Government reforms of the private rented sector threaten to make it harder for students to enter higher education, according to a letter signed by the National Residential Landlords Association (NRLA) and organisations from across the higher education sector, which has been sent to the Ministers for Private Housing and Higher Education respectively. The Government’s plans, outlined in its White Paper on rental reform, propose that all student housing, with the exception…
Attempted fraud in the letting sector has risen sharply over the past two years, it’s been claimed. Tenant reference provider Homeppl claims that 91 per cent of the fraud it flags up in UK rental applications stem from applicants attempting to conceal their true affordability by modifying original financial documents or creating completely fake ones. It adds that on average it now costs £44,000 to evict a fraudulent tenant in the…
Propertymark has told a UK government to stop ignore the damaging effect of its policies on the private rental sector. An outspoken statement from the trade body has been issued following a debate in the Scottish Parliament – the same parliament that recently imposed an emergency rent freeze and eviction ban on landlords. Tories in the Parliament have said that the consequences of the rent freeze and eviction ban constitute a…
A new survey by PropTech firm Goodlord has the unsurprising conclusion that the biggest worry for tenants is their rent rising. The survey is small – just 231 tenants – but it found that 87 per cent named the rising cost of rent as a key concern. The average cost of a rental property in England is now £1,071 – that’s 8.7 per cent higher than at the same time…
Propertymark is querying why there’s no help for the private rental sector to meet energy efficiency targets expressed in a new review led by a former Tory cabinet minister. Ex-energy minister Chris Skidmore has recommended delivering more energy efficiency homes in his latest Net Zero Review, which was commissioned by the Department for Business, Energy & Industrial Strategy. Of critical importance for the rental sector in particular, Skidmore recommends that…
A high profile lettings agency has backed a petition demanding the reinstatement of tax relief for landlords. High profile lettings agency Benham and Reeves says it wants the full amount of mortgage interest to be set against rental income before tax is calculated. Tax credits, which came into force as of April 2020, resulted in landlords no longer being able to deduct any of their mortgage interest from their rental…
A tax expert says the current economic climate has made it so hard to save for a deposit that many tenants in rental accommodation aged under 30 risk being stuck for years. David Hannah of Cornerstone Tax says the poor outlook for younger tenants in rental accommodation “has been exacerbated due to the fact that landlords have had to increase rents as a result of their mortgage repayments shooting up.”…
The government has been accused of pushing up the cost of home insulation energy efficiency ratings because of a poorly timed public campaign. The National Association of Property Buyers says the government’s pre-Christmas information campaign urging landlords and home owners to insulate actually accelerated demand and consequently pushed up the cost. The association warns that wage rises and a surge in production costs – up to 20 per cent –…
Propertymark has written to Housing Secretary Michael Gove outlining its concerns about the latest licensing scheme proposal from a local council. The specific letter concerns a proposal from Labour-led Brent council in north London to implement a borough-wide selective licensing scheme across all bar one of its wards, but the issues raised by Propertymark apply widely to the raft of licensing proposals now being floated by local authorities. In its…
Property Agents are being urged to sign a petition launched by a landlord facing higher tax burdens which may force him to sell up. The petition is calling on the government to reverse the Section 24 tax change. Before Section 24 was introduced in 2017, property agents and landlords were able to deduct mortgage interest from their income tax – at that time it was also possible to offset mortgage…
A warning letter signed by 330 major agents and landlords in the private rental sector has been delivered to Housing Secretary Michael Gove. The agents and landlords delivery – just before the holiday break – was made by, amongst others, letting agent Kristjan Byfield, founder of The Depositary, and William Reeve, chief executive of Goodlord. The letter warned Gove to back off attacks on the lettings industry in general and…
Propertymark wants the Department for Business, Energy, and Industrial Strategy to widen access to cash help to those that need it and to ensure the application process is streamlined and rental-friendly for landlords and property agents. The BEIS has consulted on proposals and delivery of the Energy Company Obligation – a programme to deliver energy efficiency measures in homes including the rapid installation of energy efficiency measures. This is part…
A survey of economists reveals that most believe a recession will have a major impact on housing market prices. Housing market prices will slump this year economists warn, as the market suffers a major correction. The housing market will see its biggest decline since the financial crash in 2009, according to economic experts surveyed by The Times. Rising mortgage costs and a likely recession are being blamed as the two…
The NRLA has written to housing minister Felicity Buchan reiterating its calls for the Government to beef up plans to clamp down on anti-social behaviour in the PRS. Chief Executive Ben Beadle shared harrowing accounts of members’ experiences at the hands of anti social tenants at a Government roundtable last month as well outlining the impact this has on landlords, fellow tenants and neighbours. He also used the event to…
A buy to let investment site has used Artificial Intelligence to identify 10 top property investment opportunities in 2023. Based on analysis of Property Forecaster’s 2022 data, alongside market forecasts and experts’ opinions, the north of England is predicted to continue to dominate the most investable locations next year. Bootle tops the list with the greatest number of ‘Diamond’ ranked properties – these properties have been identified as the best…
The government has ‘shown its belly’ at long last by listening to arguments from landlords and accountancy groups over its intended deadline for compulsory digital tax returns, by delaying it by a further two years. In the HM Treasury’s latest statement on the matter released at the end of last week, it says: “Understanding that self-employed individuals and landlords are currently facing a challenging economic environment, and the transition to…
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