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UK Property Market Summary and Predictions for 2023

UK Property Market Summary and Predictions for 2023

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The UK property market has undoubtedly seen a tumultuous period since the end of 2022. Fluctuating statistics, record-breaking demand, falling supply, and concerning economic projections have left many scratching their heads and wondering: https://www.rw-inv

Need a hoover in a hurry? High-tech kiosk lends renters essentials

Need a hoover in a hurry? High-tech kiosk lends renters essentials

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Renters in two of the capitals https://www.landlordzone.co.uk/news/report-reveals-unstoppable-march-of-build-to-rent-into-private-rented-sector/" build-to-rent apartment blocks can rent out household appliances, games and other essentials in a novel gadget-sharing init

Government targets cities and relaxes planning in bid to solve housing crisis

Government targets cities and relaxes planning in bid to solve housing crisis

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A new https://www.landlordzone.co.uk/news/government-housing-policies-not-working-for-landlords-or-tenants-mps-are-told/" housing plan would allow shops, takeaways and betting shops to be turned into homes while homeowners would have greater freedoms to carry out property

Gove calls for EPC deadline reprieve to give landlords a break

Gove calls for EPC deadline reprieve to give landlords a break

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Housing Secretary Michael Gove has suggested a delay in bringing in energy efficiency plans for the private renter sector. Citing financial pressures on landlords, he told The Telegraph that the government should relax the pace of changes to

Landlord with OBE to pay £300,000 fine over 'appalling conditions' at properties

Landlord with OBE to pay £300,000 fine over 'appalling conditions' at properties

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A veteran landlord with an OBE has been handed a whopping �300,000 fine after two decades of managing illegally converted houses. Nirpaul Riat was given one of the largest ever fines in Hounslow for managing 22 properties where vulnerable tenants lived in appalling conditions.<

Under-cooked Renters (Reform) Bill could be just 'much ado about nothing'

Under-cooked Renters (Reform) Bill could be just 'much ado about nothing'

News

One of the drawbacks of being labelled an expert is you are in demand for your expertise. It becomes your product and when stocks are running low, like we have all experienced when trying to find an egg in the supermarket at the end of the week for your Saturday morning cooked breakfast, th

Will the looming PRS reforms make evicting badly-behaved tenants more difficult?

Will the looming PRS reforms make evicting badly-behaved tenants more difficult?

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After years of campaigning and lobbying by tenant groups the Government has committed to huge changes for landlords when evicting tenants.

Huge London selective licencing scheme given green light by Gove

Huge London selective licencing scheme given green light by Gove

News

Southwark Council has been given the green light for one of the UKs largest selective licencing schemes. It got approval from Housing Secretary Michael Gove following the introduction last year of a borough-wide additional licensing scheme for HMOs and a small, selective lic

Extra stamp duty clobbering Welsh landlords with �92 million extra tax take

Extra stamp duty clobbering Welsh landlords with �92 million extra tax take

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Landlords and holiday homeowners continue to be clobbered by a tax grab from the Welsh Revenue Authority. The latest figures show revenue from the higher rate of stamp duty - Land Transaction Tax (LTT) - increased by 50% from �61 million in 2020/21 to �92 million in 2022/23 -

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'Wicked' directors given suspended sentences over illegal eviction

'Wicked' directors given suspended sentences over illegal eviction

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The directors of a supported housing company who illegally evicted a vulnerable tenant have been handed suspended jail sentences.

Comment: Renters’ Rights legislation in place before Easter?

Comment: Renters’ Rights legislation in place before Easter?

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The Government is evidently taking decisive steps to ensure swift progress of the Renters’ Rights Bill through the Commons and the Lords, with a view to having the Act implemented before Easter

Landlords win legal battle to protect postal rights

Landlords win legal battle to protect postal rights

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A landlord couple have won their legal case against a tenant who claimed her section 21 notice was invalid.

Government promises EPC study is imminent

Government promises EPC study is imminent

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The government looks set to launch its overdue consultation into new energy efficiency standards in the PRS during the next few weeks.

Is now the perfect time to sell your properties before the Renters' Rights Bill becomes law?

Is now the perfect time to sell your properties before the Renters' Rights Bill becomes law?

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The Renters’ Rights Bill returned to Parliament this week and it getting ever closer to becoming law by the summer has sent alarm bells ringing.

Peers scheduled to debate fast-tracked Renters' Rights Bill

Peers scheduled to debate fast-tracked Renters' Rights Bill

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The Renters’ Rights Bill has had its first reading in the House of Lords and is due for a full debate on 4th February.

Cash announced for empty shop auction scheme

Cash announced for empty shop auction scheme

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Local councils will be offered up to £79,000 to refurbish an empty property under the government’s new High Street Rental Auctions initiative.

North West council extends selective licensing

North West council extends selective licensing

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Burnley has given the green light to a bigger selective licensing scheme covering 3,700 private rented properties.

Big corporates hoovering up homes from exiting small landlords

Big corporates hoovering up homes from exiting small landlords

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Letting agents have reported that institutional and portfolio landlords are moving in to buy stock from exiting landlords.

Tenants to be given right to live with more than one pet

Tenants to be given right to live with more than one pet

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The government has promised to clarify guidance outlining that tenants can soon request to keep more than one pet.

Landlords have longer to wait for mortgage rate cuts

Landlords have longer to wait for mortgage rate cuts

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The Bank of England has left UK interest rates on hold at 5.25% for the sixth time in a row, delaying any reduction in mortgage rates.

Lancashire borough bids to bring back licensing and raise standards

Lancashire borough bids to bring back licensing and raise standards

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Blackburn with Darwen Council is consulting on a new selective licensing scheme on the edge of its town centre.

Vocal landlord critic Elphicke defects to Labour

Vocal landlord critic Elphicke defects to Labour

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Conservative MP Natalie Elphicke has defected to the Labour party after years of pushing tenant-friendly policies and decrying rogue landlords.

Landlords in Scotland 'feel like pariahs' amid political rhetoric

Landlords in Scotland 'feel like pariahs' amid political rhetoric

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Red tape and hostility from Holyrood has caused some landlords to defer investments or take properties off the rental market.

Cuckoos: not just a springtime problem but a year-round threat

Cuckoos: not just a springtime problem but a year-round threat

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Landlords should be on the lookout for the growing threat of cuckooing, which can jeopardise both their property and tenant safety.

Renters are just 'working for their landlords' as housing shortages bite - claim

Renters are just 'working for their landlords' as housing shortages bite - claim

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Renters in England worked 125 days of the year solely to pay their rent, says The Adam Smith Institute.

Nottinghamshire landlord fined £17,500 after ignoring licencing scheme

Nottinghamshire landlord fined £17,500 after ignoring licencing scheme

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A Nottinghamshire landlord has been fined £17,500 after local council officers discovered he was operating two properties without a licence.

Rents have risen 35% since 2020 reveals latest lettings index

Rents have risen 35% since 2020 reveals latest lettings index

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Rental prices could increase by almost 20% over the next 12 months, putting the country in a cost of renting crisis, warns one lettings boss.

Ousted Scots minister tells SNP to honour rent controls plan

Ousted Scots minister tells SNP to honour rent controls plan

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Ousted tenants right minister Patrick Harvie has urged the SNP’s new leader John Swinney to honour the government’s Bute House pledge to deliver rent controls and stronger tenant rights.

Renting reforms 'to outlaw rent in advance' claims expert

Renting reforms 'to outlaw rent in advance' claims expert

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Landlords could find themselves in a legal tangle when asking for rent in advance if the Renters Reform Bill goes forward as drafted.

Government reforms undermining landlord confidence, says big firm

Government reforms undermining landlord confidence, says big firm

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A leading letting agency in London has claimed that the Government’s Renters (Reform) Bill going through parliament, along with promises by Labour to go even further than the Tories if they gain power, are eroding landlord confidence in the private rented sector.

Letting agency to appeal banning order that will close it down

Letting agency to appeal banning order that will close it down

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A letting agency in Liverpool has vowed to appeal a banning order successfully sought by the city’s council after the firm was found to have been operating unlicenced HMOs.

Think about how an Energy Efficient Home Design will improve your tenant’s lives

Think about how an Energy Efficient Home Design will improve your tenant’s lives

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Improving your rental properties will make your property more efficient, easier to let and get your tenants to stay longer

Capital Economics predicts US commercial real estate won't recover until 2040‍

Capital Economics predicts US commercial real estate won't recover until 2040‍

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High interest rates, higher operating costs and a shift to remote working have conspired against office space in particular

UK Commercial property market is still feeling the effects of Covid‍

UK Commercial property market is still feeling the effects of Covid‍

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COVID impact still being felt on UK high streets four years on from the first lockdowns: commercial real estate lending is down but agents see signs of optimism.

DWP to snoop on benefit landlords' bank accounts

DWP to snoop on benefit landlords' bank accounts

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Landlords’ bank accounts could be monitored as part of new legislation that aims to reduce overpayments to people claiming benefits and fraudulent claims.

EXPERT: Removal of Furnished Holiday Lets relief 'may never happen'

EXPERT: Removal of Furnished Holiday Lets relief 'may never happen'

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Plans to abolish the Furnished Holiday Lets (FHL) regime could be delayed by at least a year from April 2025, and might never happen, according to one tax expert.

More pet rights for tenants tops landlords worries over reforms

More pet rights for tenants tops landlords worries over reforms

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Landlords are more concerned about tenants’ right to request to keep a pet than the potential abolition of Section 21, a new poll reveals.

HMRC restarts landlord pilots for its 'Making Tax Digital' scheme

HMRC restarts landlord pilots for its 'Making Tax Digital' scheme

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More landlords can now try out Making Tax Digital (MTD) for Income Tax after HMRC paused the pilot last February.

Rise in HMOs pushes BTL yields to highest for six years

Rise in HMOs pushes BTL yields to highest for six years

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Average rental yields have hit a six-year high with HMOs and properties in the North East offering landlords the best returns.

EPCs are misleading, inaccurate and need reform, says Which?

EPCs are misleading, inaccurate and need reform, says Which?

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Consumer organisation Which? says there is considerable evidence that many EPCs are ‘not accurate’.

Landlord fined £528,000 after fence mending work leads to burns

Landlord fined £528,000 after fence mending work leads to burns

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A large landlord has been fined £528,000 after a maintenance crew member repairing a fence post inadvertently struck an underground cable, suffering facial burns.

Landlords slam 'infuriating' licencing rules now driving evictions

Landlords slam 'infuriating' licencing rules now driving evictions

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Landlords in Portsmouth say vulnerable tenants are being unfairly displaced due to the council’s draconian additional licencing scheme.

Rebel MPs demand ground rents abolished for existing leaseholds

Rebel MPs demand ground rents abolished for existing leaseholds

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A group of 30 Tory MPs have written to the Chancellor Jeremy Hunt warning that they may vote against the Government’s Leasehold and Freehold Reform Bill unless ground rents are abolished for both future and existing leaseholds.