Property industry news
There is a confirmed route to remediation for all buildings over 11 metres in Wales, with ten major UK developers already lined up to complete fire safety works. Alongside new cladding valuation guidance expected from the Royal Institute of Chartered Surveyors (RICS), these plans demonstrate to valuers and lenders that essential work can be carried out at no cost to leaseholders.
Propertymark has submitted written evidence to the Public Bill Committee on the Renters (Reform) Bill, citing data demonstrating the level of concern amongst our members about measures likely to make the PRS increasingly hostile to property owners and the unintended consequences for people in need of homes.
Phil Spencer, Founder of Move iQ, presented learners who had gone above and beyond with their Awards, spotlighting all finalists by commending the standards they were setting for the industry and their professionalism’s impact on consumers. In the graduation-style ceremony, those who achieved their qualification in the last 12 months were also recognised for their achievements.
The Autumn statement had an upbeat feel and yielded some positive news for the housing industry. However, this is no time to celebrate while the cost-of-living crisis continues to limp on. In the letting sector, the number of new prospective tenants registered per member branch has decreased month on month since July 2023.
Fossil fuel systems will be replaced by 2045 and new minimum energy efficiency standards will be set for homes of all tenures, according to plans which have been put out for consultation by the Scottish Government.
The National Trading Standards Estate and Letting Agency Team (NTSELAT) has released comprehensive new guidelines covering all three phases of the programme, which aims to improve and standardise disclosures in property listings, helping agents to meet their legal obligations.
In the fast-paced world of property management, letting agents face a myriad of challenges, with client money management sitting high on the list of priorities. Ensuring the safety and transparency of client funds is not only a legal obligation; it’s good business practice.
The average rent for a two-bedroom home in Scotland has increased by over 14%, reaching an average of £841 – an extra £105 per month compared to the previous year – as landlords try to cover increasing costs and prepare for the impact of new legislation.
Focusing on the key housing sector themes, Propertymark is calling for prioritisation of work with the PRS on homelessness, investment in reliable data collection, and a boost in support for decarbonisation.
A ban on new leasehold houses and limits on ground rent for new flats are contained in the long-promised and eagerly awaited Bill, and for existing leaseholders, selling should be made quicker and easier.
NAEA Propertymark has agreed on a joint approach with the Law Society and RICS as part of ongoing work to improve conveyancing for clients across Northern Ireland.
Collaborating with other leading sector organisations, forums and landlord associations, the Housing Coalition's first in-person meeting was held at Propertymark's offices in London on 22 November 2023.