Senior Labour figures have come out with sharply opposing views on whether the party backs housing rent controls & other rent controls. Shabana Mahmood, a senior MP close to party leader Sir Kier Starmer and also Labour’s campaigns manager, appeared to dismiss rent controls on a BBC interview with Laura Keunnsberg. Mahmood described a rent freeze as a mere tweak which “wouldn’t get to the heart of the problem” which…

Unrealistic Government proposals for energy efficiency improvements in PRS homes must be pushed back, says the NRLA Organisation. The Government consulted on plans to ensure private rented homes have an Energy Performance Certificate (EPC) rating of at least a C more than two years ago, with the proposed new rules set to be implemented in 2025 for new tenancies and 2028 for all others. The Government also proposed all landlords…

Propertymark has thrown its weight behind the idea of a compulsory national registration for short lets for landlords and hosts operating Airbnb and other short lets. The trade body says in a new statement: ”Propertymark has campaigned for a long-time to introduce standards for the short-term lettings industry and annotate the impact they have on the availability and affordability of local rental housing and increased house prices driven by additional…

Where does your area lie in the London House Price Ranking? As a city of 3.7 million households London’s property market shows huge variation in average sold prices, as well as between how these rise and fall over time across its 33 local authorities. The latest data from Hamptons show how areas moved up and down the rankings as their house prices soared, plummeted, or stayed stock still in 2022. The two most expensive…

The Pro-Tenant Anti-Landlord Renters Reform Bill has at last been published by the government which first promised it in 2019. It has a series of pledges to court favour with renters – it will be harder to evict tenants, easier for renters to have pets, a Decent Homes Standard will be introduced, and landlords will have to join a mandatory Ombudsman scheme.   The government claims 11m tenants across England will…

House Price Gap Narrows – London Boroughs with Property Prices below City Average. Down from 12 in 2012, there are now just eight boroughs with property prices below the London-wide average of £532,000, meaning the House Price Gap has narrowed. The number of boroughs where house prices sit below the London average, and that are considered comparatively affordable, has dwindled. Despite a property market that has been muted since the…

Landlords who bought soon after the launch of the first buy-to-let mortgage in 1996 lead the way amongst Landlords Quitting sector in increasing numbers.   Research from lettings agency Hamptons shows that with the average landlord turning 60, it’s predominantly these older investors who are leaving the market, meaning the percentage of Landlords Quitting the sector has increased substantially.   Hamptons’ estimates suggest that around 140,000 landlords retired in 2022 accounting for…

New research has shown that 73 per cent of all landlord sales in 2022 were made by Retiring Landlords. The supply crisis within the PRS has never been far from the headlines in recent months, with the figures suggesting the generation of landlords who benefitted from the birth of the buy-to-let mortgage in the late nineties are now starting to sell up. The figures come from estate agent Hamptons in…

It won’t be a surprise to learn that Housing & Rental Fraud is on the rise. Along with scams, cybercrime and fake news, it’s endemic in the modern world. We ignore it at our peril – fraudulent activity is becoming ever more sophisticated. According to LegalforLandlords MD Sim Sekhon, our awareness and defence strategies need to follow suit. It’s hard to get precise details on the scale of the problem. However, in…

According to the latest UK Housing Price Index, the annual percentage change for average UK house prices was 5.5% in the 12 months to February 2023, compared with 6.5% in the 12 months to January 2023 and 9.0% in the 12 months to December 2022. The average UK house price was £288,000 in February 2023, which is £16,000 higher than 12 months ago, but £5,000 below the recent peak in…

Shareholders in three Cladding Companies, whose shocking practices were uncovered in evidence heard at the Grenfell Inquiry, have been warned by the government that the manufacturers they invest in will face “severe consequences” if they do not come forward with a comprehensive financial package to fix unsafe buildings. Michael Gove has written to investors in Kingspan, Arconic, and Saint-Gobain and urged them to use their “position of influence” to encourage…

London’s renters are most at risk from finding their homes either being un-lettable or their landlord selling up due to the costs of having to upgrade their leaky homes under proposed government EPC regulations. Research by data firm Outra says 4.5m rental properties across the UK currently have an EPC rating of D or below. There are 841,000 of those in London, accounting for 1.9m rooms: in total, there are…

Median rents across Greater London are now more than half of the median salary, according to new data London tenants now spend more than half their wages on rent, according to new analysis of official figures. Across the capital, renters part with 53.6 per cent of their income to cover housing costs — with the share of income rising to above 80 per cent in London’s most expensive boroughs. The…

Landlord mortgage costs have been faster than rent rises over the past two years, new research has highlighted. Estate agency Barrows and Forrester says its analysis of average landlord mortgage borrowing costs show a BTL investor with a variable rate repayment mortgage is now paying a 20% more a month than in 2021, or £1,113 compared to £942. Figures for interest only BTL mortgages are even more severe, revealing a…

The Government has revealed plans to force those seeking to convert homes in short-term lets properties within England’s holiday hotspots to seek planning permission first. Such powers, which will see a new ‘use class’ and a ‘permitted development right’ introduced into planning law to be used by local authorities, are to be consulted on by the Department for Levelling Up, Housing and Communities prior to any legislation. The aim of…

The Tenant Fees Law /Act has been in place for nearly four years but is it shocking how many property professionals, also known as letting agents, are either not aware of its existence, or believe they can charge a fee as long as they call it something else. I have looked at the 34 most recent cases heard by First Tier Tribunals relating to Tenant Fees Act and any financial penalties awarded. Shockingly of…

BTL investors leaving the market and selling up are being driven by landlord retirement with around 140,000 retiring last year and the number is likely to continue, says Hamptons. Landlords leaving the market and selling up are being driven by retirement, latest analysis from Hamptons reveals. Around 140,000 landlords retired last year, accounting for the majority (73%) of all sales by investors (see chart). Many of these investors were early…

Majority of property professionals believe the latest Royal Institution of Chartered Surveyors cladding guidance has had a positive impact. Nearly nine out of 10 property professionals believe that the latest Royal Institution of Chartered Surveyors (RICS) guidance on cladding has had a positive impact, a webinar poll undertaken by Countrywide Surveying Services (CSS) reveals. When asked if the latest RICS cladding guidance has helped, an overwhelming majority of 88% suggested that it…

Paul Shamplina told a GB News show agents were just trying to make an informed decision about tenants by asking for a CV or social media profile. Property TV star Paul Shamplina has defended agents who use ‘extreme tenant vetting’ techniques to find new tenants. Speaking on GB News hosted by Eamonn Holmes, Shamplina (main picture) said it’s not common practice to request a CV or social media profile, but agents…

  Landlords and homeowners who rent out properties as short term lets may require planning permission to do so under new Government proposals. Ministers have this week announced two consultations into plans regarding the regulation of short term rentals, including properties let through platforms such as Airbnb, holiday cottages and apartments and part-time homes for contract workers. The move follows concerns about the exponential growth of the sector. Short term…