Issue 57: Winter 2024
In our final issue for 2024 we're looking to the future with an insight into our work with REACH UK to scale up prop-tech innovation to empower agents to fly high. Keeping our feet firmly on the ground, we tell you everything you need to know about subsidence (and why UK homeowners can't just live with it), and talk to Propertymark's Liz Callan about what it is she does all day.
What the Employment Rights Bill could mean for property agents
The UK Government introduced the Bill to Parliament on 10 October 2024, proposing significant changes to workers' rights and employer obligations across everything from sick pay to trade union membership. Described as the biggest upgrade to employment rights for a generation, the legislation aims to help create secure economic growth, provide better support for businesses, and raise living standards across the UK.
Propertymark members benefit from inflation-busting fee freeze for the third year running
With membership at an all-time high, we are delighted to extend our support to thousands of colleagues across the industry by locking in our membership fee at 2022 rates for another 12 months. We have worked hard to mitigate the impacts of challenging economic conditions for our members and are proud to offer a robust membership package that delivers tangible benefits across the entire sector.
Budget aims to unlock housing with investment in affordable homes
The UK’s first female Chancellor of the Exchequer, Rachel Reeves, MP, delivered the first Labour Budget for 14 years on 30 October 2024, announcing tax increases worth £40 billion. Whilst agents will be relieved not to see a hike in Capital Gains rates, it is disappointing that the reversal of Section 24 and support for property owners to meet Minimum Energy Efficiency Standards have been overlooked. It is also a missed opportunity to give structured support to first-time buyers and downsizers to boost consumer confidence.
REACH UK: ambitious proptech startups invited to join 2025 cohort
Since its launch, REACH UK has successfully run four programs, providing startups with unparalleled access to the real estate industry. Backed by strategic investment and partnerships with Propertymark and TDS, the 2025 program continues to offer high-impact support and industry connections, empowering startups to scale and driving innovation in real estate and adjacent sectors.
Economic Crime Act: new guidance for agents on information sharing
The Department for Business and Trade (DBT) has published in-depth advice for anti-money laundering (AML) regulated firms to explain the legal protections around sharing client data. The Economic Crime and Corporate Transparency (ECCT) Act 2023 introduced provisions that allow businesses to tackle AML by voluntarily sharing and receiving information, however, agents have raised concerns that they may be liable for breaches of confidentiality.
Protect your business from risks of underinsurance
Inadequate or insufficient insurance cover may result in serious financial loss and can affect organisations of any size. Underinsurance can have potentially serious consequences for a business when they make a claim. Gallagher, Propertymark’s official insurance broking partner, offers advice on the potential impacts and how to avoid them.
Autumn Budget 2024: strengthening housing markets whilst boosting energy efficiency
Propertymark has prepared deliverable and achievable spending commitments that will increase the supply of privately rented accommodation, boost owner-occupation, and support landlords and homeowners decarbonise properties. Our proposals include Stamp Duty Land Tax (SDLT) reform to encourage last-time buyers to downsize, reversing Section 24 of the Finance Act, and interest-free energy-efficiency loans.
Self-assessment tax returns up-to-date guidance
For many property agents, self-assessment tax returns are the norm. Created in 1996, self-assessment has streamlined tax collection for those with untaxed income who declare and pay tax on it and has evolved into an online mechanism for digital tax returns.
Propertymark One 2025: An extraordinary gathering of industry experts
The UK’s largest property conference is set to bring together 40 speakers, 70 industry suppliers, and 2,000 property professionals at ExCeL London on 13 June 2025 for an exhilarating day of learning and networking followed by an exclusive post-event after party. With the first 250 tickets available at an exclusive price, delegates are urged to book their spot to be part of property excellence, shaping a vibrant, sustainable and inclusive future for all property agents.
The UPRN is a vital part of the digital property market infrastructure
Propertymark, alongside organisations from the UK property sector, has reopened dialogue with the UK Government to outline three key actions Ministers should consider during this parliament: embedding the Unique Property Reference Number (UPRN) in public sector projects, enabling market adoption, and ensuring ethical data use.
Most inefficient homes to get fully funded upgrades from local grant scheme
The UK Government has published details of their Warm Homes Plan to upgrade five million homes in England to EPC C over the next five years. Beginning in April 2025, the Warm Homes: Local Grant will be delivered by Local Authorities and provide up to £15,000 each for low-carbon heating and energy performance improvements in owner-occupied or privately rented homes.
TPO advises PRS to get ahead of Awaab's Law
Based on findings from a survey of over 700 letting agents, The Property Ombudsman (TPO) has published new guidance to help agents, landlords and tenants to deal with condensation, damp, and mould in their properties. Casework undertaken by the service in 2023 included over 1,000 enquiries, 200 investigations, and £36,000 in compensation awarded for cases involving damp and mould.
Landlord electronically tagged after gas safety negligence put tenants' lives at risk
The culprit claimed she could not afford to carry out maintenance at the property, and ignored an Improvement Notice and further requests from the Health and Safety Executive (HSE). For several years, tenants at the property were forced to put up with a temperamental boiler that often left them without heating or hot water, as well as a condemned cooker. An HSE investigation found that the landlord was receiving full rent from the tenant at the time enforcement action was taken.
Understanding the Renters' Rights Bill: what letting agents need to know
The Renters' Reform Bill was introduced to parliament on 11 September 2024. If passed without amendment, the Bill will significantly overhaul the structure for private rented sector housing and repeal Section 21, alongside a number of other significant measures including the removal of fixed term tenancies, the expansion of Rent Repayment Orders, and a new landlord Ombudsman. There are many hurdles for the Bill to clear as part of the process of parliamentary scrutiny, but as Labour have a majority in the House of Commons the legislation could go through as quickly as next spring, with the reforms being implemented by late summer 2025.
Professional inventories set the stage for successful tenancies
A survey of 1,500 UK renters has revealed that three in ten tenancies do not benefit from a property inventory, leaving agents, landlords, and tenants more vulnerable to costly disputes further down the line.