Property industry news
PRS energy performance back on the UK Government's agenda
A consultation has been launched on Improving the Energy Performance of Privately Rented Homes in England and Wales by 2030, following on from the 2020 consultation, that will set new proposals whilst providing a government response to the previous consultation. At the same time, a Review of the Fuel Poverty Strategy consultation has opened to ensure warmer and safer homes for low-income and vulnerable households is a priority.
Propertymark calls for Landlord and Tenant Act to align with modern business needs
The Act is a cornerstone of commercial property law, offering security of tenure to business tenants while balancing landlords’ rights. However, Propertymark believes it is time to modernise the Act to reflect today’s challenges, including Minimum Energy Efficiency Standards (MEES) and fairer lease agreements.
Housing insight report: December 2024
Winter is historically quieter in the sales market as people hunker down for the festive period. However, with the announcement that many will see increases in their Stamp Duty bill from April 2025, in some cases costing the average buyer thousands of extra pounds, we expect there to be a noticeable shift in activity moving into 2025.
Major Build-to-Rent scheme opens in Wandsworth
Legal & General (L&G) has announced the completion of one of the UK's largest purpose-built rental developments, with 1,034 homes across 18 buildings, marking one of the UK’s most significant Build-to-Rent (BTR) schemes, to date. As BTR continues to reshape the private rented sector, Propertymark offers a specialist training course to help agents stay ahead in this growing market. Covering investment trends, legal frameworks, and tenant expectations, the course equips professionals with the knowledge to navigate this evolving sector.
Lords echo letting agents' concerns in their first Renters' Rights debate
The Renters’ Rights Bill reached a critical milestone on 4 February 2025, with its Second Reading in the House of Lords. Propertymark has been at the forefront of discussions, ensuring that the concerns of property professionals are heard, and the impact of more than 200 letters from members was evident during the debate. We have lobbied against specific aspects of the Bill, particularly limits on rent in advance and the lack of clarity regarding short-term let regulation and court resourcing. We call for a clear implementation timeline and improvements to protect vulnerable tenants while ensuring fair treatment for landlords and agents.
AML registration failures place hundreds of agents and auctioneers in jeopardy
The most recent compliance and registration penalties published by HM Revenue and Customs reveal 144 agents sanctioned between October and December 2023. Most fines were for failing to register at the required time, and the amounts ranged from £1,250 to £52,000. However, the largest fine on the list is for a High Value Dealer ordered to pay £175,701 for multiple failures in carrying out risk assessments, having the correct policies, controls and procedures, appropriate staff training, conducting due diligence, and record keeping.
Bureaucracy-busting is Reeve's next move to boost house building
The Chancellor of the Exchequer revealed more about the UK Government’s plans to accelerate housebuilding and reform the planning system in a speech delivered on 29 January 2025. Highlighting the role of housing in economic growth, she announced measures designed to unlock development, remove planning barriers, and encourage investment in infrastructure projects.
ESW1 warnings: what agents need to know about invalid fire safety forms
Recent developments concerning the company Tri Fire and one of its assessors have raised significant concerns over the validity of the EWS1 forms they have issued. Major banks are refusing to lend on properties assessed by Tri Fire, potentially causing delays or halts in property sales and remortgages.
Propertymark members should be exempt from advertising board restrictions
In our response to Westminster City Council’s consultation on the renewal and potential expansion of a requirement for planning permission to erect sales and lettings boards, we argue that our members’ high professional standards mean they should be left out of the plans. Propertymark recognises the need to protect Westminster’s aesthetic appeal but cautions against measures that could disproportionately impact responsible property agents.
65,000 homes at risk from substandard solid wall insulation
The UK Government has taken decisive action following the discovery of widespread quality issues with energy efficiency work carried out under the Energy Company Obligation 4 and the Great British Insulation Scheme. Routine inspections by TrustMark, the independent body overseeing tradespeople working in homes, have led to the immediate suspension of 39 businesses from installing new solid wall insulation.
Propertymark shares member voices in Housing Bill forum
Timothy Douglas, Head of Policy and Campaigns at Propertymark, provided evidence on the Housing (Scotland) Bill to the Local Government, Housing and Planning Committee of the Scottish Government on 28 January 2025, highlighting significant concerns from our members and stressing the proposed measures fail to address the critical housing supply challenges.
Industry leaders and Lords convene to address implications of Renters' Rights Bill
Prominent figures from the property sector gathered in London on 22 January 2025 to deliberate on the future of the Private Rented Sector (PRS) in light of the forthcoming Renters' Rights Bill. The event, hosted by Goodlord, featured a panel including Nathan Emerson, CEO of Propertymark, and Lord Best OBE, a cross-bench peer with a special interest in housing issues. The discussion encompassed a wide range of issues, including the progression of the Bill, ongoing supply and demand challenges, and the necessity for a coherent strategy for the sector.