Fears that suspicious payment powers could delay property transactions
From the end of October 2024, UK banks will be able to hold payments for up to four days whilst investigations of potential fraud are carried out, raising concerns that the large transactions needed for property purchases may be incorrectly blocked. The change follows stricter rules on fraud compensation which came into force on 7 October 2024, meaning that banks must refund scam victims up to £85,000 within five days.
Key barriers to new home delivery missed in plans for reform
Practical measures to ensure local demand is properly considered and a realistic approach to incentives for developers and landowners are key issues Propertymark members highlighted in the Ministry for Housing, Communities and Local Government (MHCLG) National Planning Policy Framework (NPPF) consultation.
Tough restrictions on small HMOs
Concerns about the amount of available housing, pressure on local services, and a perceived threat to the area's character are behind the decision by Rugby Borough Council to use new powers to stop the spread of houses of multiple occupations in the town.
Commercial Outlook Q2 2024
Although the economic outlook remains mixed, the quarter ended with inflation in line with the Bank of England’s target, a precursor to a long-awaited reduction in the base rate. Our agents are bullish regarding capital values and rent levels in key sectors including the Industrial and Land and Yards sectors where demand continues to outstrip supply.
Brownfield passports call for evidence launched
As part of its brownfield-first approach to development, the UK Government has announced plans to support and expedite the approval of urban sites to sit alongside their plans to deliver 1.5 million homes.
Taskforce launch marks key milestone for housebuilding mission
Deputy Prime Minister and Housing Secretary, Angela Rayner, MP, addressed the inaugural meeting of the New Towns Taskforce on 17 September 2024, asking them to identify and recommend locations for the next generation of new towns within 12 months.
Property agents: the case for regulation
Regulation offers the potential to professionalise the industry, stamp out bad practice, create transparency and give consumers more control over who manages their property. Minimum qualification requirements and statutory Code of Practices to be adhered to by all letting and managing agents in England and sales agents across the UK should be introduced.
HM Land Registry announces first-in-a-decade fee increase for information services
From 9 December 2024, fees will double for accessing and obtaining copies of title plans and registers – the first change to the cost in more than 10 years – and customers with automated systems are advised to make the necessary changes to their systems before the implementation date. According to HMLR, even with this increase, most customers will pay less than in 1992.
Rent controls clash with Swinney's economic vision for Scotland
Announcing his Programme for Government on 4 September 2024, the Scottish First Minister said proposals to give local authorities the power to cap rent increases would remain part of the Housing (Scotland) Bill. Ignoring stark warnings from Propertymark and other sector organisations, Mr Swinney claimed the measures will give tenants certainty and encourage investment in the private rented sector (PRS).
Fact Sheet: Town and Country Planning (Control of Advertisements) Regulations 1992
The Town and Country Planning (Control of Advertisements) Regulations 1992 apply to Wales and some aspects of the regulations were updated by the Town and Country Planning (Control of Advertisements) (Amendment) (Wales) Regulations 2017.
Grenfell must be a touchstone for building safety progress
The final report of the Grenfell Tower Inquiry has concluded that the 72 deaths caused by the devastating fire on 14 June 2017 were avoidable. Sir Martin Moore-Bick, who chaired the Inquiry, stated that there was widespread incompetence from those responsible for the safety of the building and its occupants, including the local authority, contractors, and tenant management organisations. Prime Minister Kier Starmer, MP, said it is likely that further legislation will be needed to implement recommendations made in the report and proposals will be put before parliament as soon as possible. He also accepted that remediation work is behind schedule and must be speeded up.
Startups selected for REACH 2024 program
Eight companies have been selected to receive investment and support from the REACH UK 2024 technology scale-up program, run by Second Century Ventures (SCV) in partnership with Propertymark and TDS. The project represents a strategic investment in high-potential companies positioned to deliver significant value across the property industry.
Housing Insight Report: July 2024
We entered July with a new government and the prospect of a reset in major housing policy areas. Despite this, and a wetter than normal July, prospective buyer registrations in the residential sales sector were up, and so too were the number of sales agreed. Reflecting seasonal trends alongside the anticipation of an August rate cut, most other sales metrics remained static.
Propertymark agent could have saved MP from rental flats scandal
Jas Athwal, MP, has endured a weekend of backlash after reports revealed his tenants were living in flats containing black mould and an infestation of ants. It was also discovered that Mr Athwal, previously the leader of Redbridge Council who introduced the scheme, had not correctly renewed the selective licences for his properties.
Issue 56: Autumn 2024
Word of mouth is no longer enough to bring clients through the door, it’s time to embrace digital marketing and maximise your agency’s potential—The Big Idea tells you how. Build your success even further with an eight-point-plan from our CEO, Nathan Emerson, which will help streamline your operations and turbocharge your bottom line.
Join Propertymark in supporting Gas Safety Week
From 9–15 September, we will again support the biggest awareness campaign to highlight the importance of regular gas safety checks emphasising this year’s theme, Checking – Every Check Counts.