Property industry news

In May 2021, the UK Government introduced a new 'breathing space' scheme in England and Wales which gave people in serious debt a 60-day break from creditor action. The new proposals for the introduction of a Statutory Debt Repayment Plan (SDRP) represent the second part of the UK Government’s plan to help people repay debt payments.

Propertymark Qualifications is set to host its largest awards ceremony, welcoming more learners than ever before, to celebrate achievement and talent within the industry.

Following HM Treasury approval, on 27 July 2022 the UK Government updated guidance for estate and letting agent businesses supervised for anti-money laundering. Designed to help agents comply with the Money Laundering Regulations 2017, it covers customer due diligence, record keeping and reporting suspicious activity. 

Propertymark are feeding into the UK Government at a range of levels on different issues. In a current industry roundtable on refugee access to the Private Rented Sector (PRS) we are discussing key issues for those in the Homes for Ukraine sponsorship scheme.

In February 2022, the House of Lords Built Environment Committee opened an inquiry into the impact of short-term lettings on housing markets. In response to claims that there was no link between short-term let growth and housing shortages, Propertymark provided its own briefing to the Committee in June 2022.

In March 2022, the Office of Tax Simplification published a call for evidence to seek views about how the taxation of Property Income could be simplified. Taxation is a key topic of contention for Propertymark members, as many feel that the current tax regime does not serve the sector’s best interests.

The new Register of Overseas Entities is being introduced by the Economic Crime (Transparency and Enforcement) Act which has launched today, 1 August 2022. It will be held by Companies House and forms part of the UK Government’s strategy to combat economic crime.

Propertymark insights reports for the first six months of 2022 show a continued trend of a stock-starved market and a rise in demand.

The UK Government has opened a £4.5 billion Building Safety Fund, so more leaseholders in high-rise homes will be spared unfair bills for building safety.

Guidance to support agents, landlords and tenants in England to prepare for the changes to the Smoke and Carbon Monoxide Alarm (Amendment) Regulations 2022 when they come into force on 1 October 2022 is now available.

The UK Government is seeking views on balancing the needs of the tourism industry in England and understanding the benefits of short-term and holiday lets, whilst assessing the challenges it may pose to the housing market.

Jan Hÿtch, Residential and Operations Partner from Arnold Keys and Katie Griffin, Director from Sawdye and Harris will help to pave the way for future learning and accreditation.