Ground rent reforms at risk of being diluted after resistance from Treasury
Over 30 Conservative MPs have written to Chancellor Jeremy Hunt expressing concern that plans for reform are being weakened as the Leasehold and Freehold Reform Bill progresses through parliament. In particular, and despite a promise in the 2019 Conservative manifesto, it is now expected that ground rents will be capped at £250 per year instead of being cut to zero.
Further Regulations confirmed under the Private Tenancies Act
Following the enactment of Sections 1-6 of the Private Tenancies Act (Northern Ireland) 2022 on 1 April 2023, the Department for Communities has outlined that two further phases, Sections 8 and 10, will come into force by the end of 2024.
End Scotland's housing emergency
Propertymark has urged Scotland’s new First Minister, John Swinney following his appointment on 7 May as leader of the Scottish National Party, to end the housing crisis across the country.
Distaste for rent controls in Wales
The Summary of Responses to the Green Paper Call for Evidence on Securing a Path towards Adequate Housing Including Fair Rents and Affordability has been published, which showed an aversion to rent controls being implemented as a long-term measure, a view shared by Propertymark.
Housing Minister sets expectations for Safety Case Reports
The Housing Minister, Lee Rowley, MP, and Philip White, Director of Building Safety for the Building Safety Regulator, have published a joint open letter to building managers addressing the issue of charges associated with managing safety in buildings over 18 metres.
Housing Insight Report: March 2024
Demand increased within the residential sales sector, with the number of buyers registered and the number of viewings per property both increasing. In the residential lettings sector, tenant demand decreased, and stock levels increased marginally. However, legislative change including the Renters (Reform) Bill and Housing (Scotland) Bill, continues to dominate the wider discourse.
Enhancing efficiency and service in lettings through technology integration
Letting agents have access to a wide array of industry tools to elevate their business operations, including CRM platforms, marketing software, referencing providers, accounting tools, and deposit services. Integrating suppliers is a straightforward method to maximise the utility of existing resources, streamline operations, prevent fraud, and improve the experience for both tenants and landlords.
Next London Mayor must leverage powers to tackle housing backlog
On Thursday 2 May 2024, Londoners will cast their votes for the next Mayor and 25 Assembly Members. With a population of over nine million, and the highest house sales and rental values in the country, London presents unique challenges. Propertymark has written to the candidates outlining our housing plan for London, highlighting key priorities for the next four years and our proposals for addressing the city’s crisis in housing availability.
Issue 55: Summer 2024
In this summer issue, long-standing members reflect on their start in the property profession and we asked experts from Belvoir group to share their views on agent training and qualifications, and how they will both impact the future of our sector. The policy update looks at short-term lets which are under the spotlight from legislators.
Warning over battery safety from home insurance experts
Eight in ten people are charging, storing, or repairing their devices in a way that greatly increases the risk of fire, according to a survey by NFU Mutual. With lithium-ion batteries used in almost every household in the UK, and insurers reporting an increase in fire claims associated with them, it is advisable for agents to inform their landlords and tenants on how to reduce their risk.
Renters Reform moves to Lords as sector calls for certainty
The long-delayed Bill included over 200 amendments as it returned to the House of Commons for its Report Stage and Third Reading on 24 April 2024. Having been voted through by MPs it will now move to the Upper House, with Housing Secretary Michael Gove MP controversially stating that it’s up to the House of Lords to decide how quickly the Bill can become law.
Agents can help test online income tax service ahead of rollout
HMRC has opened a pilot scheme for the proposed Making Tax Digital service for quarterly reporting. From 22 April 2024, agents can voluntarily sign up their landlord clients if they meet certain criteria.
Essential HM Land Registry services for estate agents
There are numerous ways that upfront information can help agents in today’s property market, including making it easier to value and list a property, and streamlining the buying and selling process . Propertymark encourages members to verify property details with HM Land Registry (HMLR) as best practice, particularly following the publication of Trading Standards’ full material information guidance in November 2023.
Sector must act together to challenge long term rent controls
Propertymark’s Head of Policy and Campaigns, Timothy Douglas, met Patrick Harvie, MSP, as part of the Scottish Government’s Private Rented Sector Stakeholder Group to discuss the Housing (Scotland) Bill and continued to assert that rent control proposals should be dropped in favour of focusing on other actions to make the private rented sector more affordable. This will ensure there is an adequate housing supply that meets increasing demand and tackling existing inequalities of income and wealth.
Commercial Outlook Q4 2023
It is clear from member sentiment, that economic uncertainty, and interest rates in particular, are continuing to weigh on the commercial property market. Supply and demand imbalances continue in key sectors, suggesting that there will be a challenging start to 2024.
Renters Reform returning to Parliament in a storm of criticism
The Leader of the House of Commons has confirmed the remaining stages of the Renters (Reform) Bill will take place on Wednesday 24 April 2024 with some key changes to the Bill brought forward. Whilst the UK Government has listened and reacted to some industry concerns, another chance has been wasted to effectively regulate property agents.