Propertymark has responded to the HM Treasury consultation on improving the effectiveness of the Money Laundering Regulations (MLR), drawing on member survey data to illustrate the current challenges for agents and how targeted improvements could enhance the system.

A summary of responses to the consultation on proposals to abolish land transaction tax (LTT) multiple dwellings relief (MDR) has revealed sector-wide concern about the impact on supply, leading the Welsh Government to commit to further work on the potential benefits, costs and wider impacts on the housing sector.

The implementation of the new rules will mean property owners in the designated area must gain planning permission before changing the use of a main home into a second home or short-term holiday accommodation. Gwynedd Council will bring the Direction into effect from 1 September 2024.

Opening the new session of Parliament, King Charles III announced more than 40 Bills the UK Government has committed to introduce, with housing and planning firmly in the spotlight. Housebuilding, renters’ rights, and leasehold reform are all on the legislative agenda, along with significant devolution of powers to local authorities.

To represent Propertymark members’ views and the property sector to ensure their voices are heard, we interpret key policy developments and lobby for change. Working with members, we research and survey to develop evidence-based arguments to campaign for policy change across the devolved nations on issues, including supply of property, tenancy management, economic crime, property taxation, enforcement, material information, and welfare reform.

KPR offers a LRA report within their inspection and repairs software to record the test results and help fulfil the owner’s legal obligations, as well as generating an additional income source for managing agents by allowing them to conduct this assessment as part of their service. The software is simple and convenient to use, with pre-set template questions ensuring nothing is overlooked. KPR also supply a full Legionella test kit, allowing anyone in the agency can conduct the report, and presents the result as a clear and professional report.

Rt Hon Vaughan Gething, MS, has set out his priorities for the rest of this Senedd term, with building safety, homelessness, visitor accommodation, and planning all forming part of the programme. Radical and transformative change which matters most in people’s lives is what the Welsh Government will be concentrating on, and the First Minister is looking forward to a renewed, genuine partnership with the new UK Government to unlock opportunities across Wales.

The Rt Hon Rachel Reeves made her first speech as Chancellor of the Exchequer today, 8 July 2024, emphasising three key policy pillars of stability, investment, and reform. Watched from the front row by Housing Minister Matthew Pennycook and Secretary of State for Energy Security and Net Zero Ed Miliband, she began to elaborate on Labour’s manifesto commitments on planning by announcing an immediate review of the National Planning Policy Framework (NPPF), a task force to unblock stalled developments, and making clear that Ministers will take an interventionist approach to get Britain building.

The UK General Election has returned the Labour Party to power with a parliamentary landslide, ending 14 years of Conservative government. Aiming to channel the spirit of Clement Attlee with a proactive and strategic approach to housing, the party campaigned on a manifesto that promised significant changes to planning rules, strict targets for delivery of new homes, reform of the private rented sector (PRS), long-term schemes to help young people onto the housing ladder, and local powers for councils to take over empty commercial premises.

While both sectors remain resilient, there is much that the next government can do to support buyers, renters such as improving the home buying/renting process and professionalisation of the sector via the regulation of agents. More broadly there is a need for a review of property taxes to make changes which stimulate supply and demand.

At the Propertymark AGM today, 28 June 2024, we welcomed three newly elected members of the Propertymark Board and marked the beginning of fresh Presidential terms for the ARLA Propertymark and NAEA Propertymark Advisory Panels. This year's successful Vice-Presidents were also announced and will join the presidential teams for the sales and lettings divisions.

The sale of two historic sea island forts, each auctioned for significantly more than their initial asking prices, demonstrates that sale by auction is becoming increasingly popular for all kinds of property.

Although challenges remain, key economic indicators give cause for optimism. GDP is trending upward, and inflation is edging closer to the Bank of England’s target. Member sentiment varies by sector, but there is notable positivity in the Land and Yards and Industrial sectors. Supply and demand imbalances remain, most notably in the Pubs and Restaurants sector, which continues to be impacted by changing trends.

A Propertymark webinar on 21 June 2024 gave practical advice on how agents can effectively handle anti-social behaviour (ASB) by or affecting a tenant, where to access support, and how to prepare for an eviction hearing.

In its 2023 Annual Review, The Property Ombudsman (TPO) reported that it resolved 1,663 sales disputes last year, with the main concerns arising from instructions and fees, the under-offer period, and marketing and advertising. Issues of conditional selling and buyer reservation fees were highlighted as key concerns.

In response to the Welsh Government’s call for evidence, Propertymark has shared members’ views on the impact of the legislation on their operations and business practices. We recognise that Rent Smart Wales (RSW) has achieved some progress in regulating and improving the private rental sector (PRS) and have made specific recommendations for how the Senedd can build on this going forward.