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Which is better, restore or replace windows?
DIY activities are on the rise in the UK, with the average homeowner expected to spend £1,380 on DIY in 2023. 37% of homeowners are spending more than they did the previous year. Gen Z, who are becoming homeowners, are particularly engaged in DIY...
The Need for Ground Rents Reform
A survey of members of ALEP (Association of Leasehold Enfranchisement Practitioners) reveals that 80% agree that residential ground rents can have a negative or undesirable impact on the sale of leasehold properties. ALEP represents over 1,200...
Have house prices fallen, or risen?
Research by easyMoney reveals that UK house prices are expected to climb on an annual basis, and that there has only been four times in 50 years that prices would have fallen. The analysis is based on historic UK house price data from the Land...
House prices fall at rapid rate
The ONS House Price Index for November 2023 indicates that average house prices in the UK decreased by 2.1% in the 12 months to November, compared to a drop of 1.3% in the 12 months to October 2023. The average house price in November 2023 stood at...
RICS report: housing market recovering but lack of landlords
The UK housing market showed signs of improvement in December, with stabilizing buyer demand and increased sales activity, according to the Royal Institution of Chartered Surveyors (RICS). The UK Residential Survey by RICS covers both the lettings...
Probate applications increase by 12%
Research by Final Duties, a probate broker, indicates that the timeline for probate applications in the UK has stretched to 12 weeks, reflecting a 152% increase since the beginning of 2023. Analysis of UK Government data for Q3 2023 reveals an...
What energy policy?
The Government doesn't seem to have a proper policy on energy. Although last November they re-committed to reach net zero by 2050 (see announcement here), the Prime Minister had undermined that the previous month when he announced a relaxation of...
Near bankrupt council selling its property portfolio
Birmingham City Council, facing financial challenges, is set to auction 29 disused properties, investments, land, and ground rents through Bond Wolfe. The properties will be auctioned during Bond Wolfe's livestreamed auction on Thursday, February...
League table shows yields across the country
The Fleet Mortgages Buy-to-Let Rental Barometer for Q4 2023 reveals an annual increase of 0.3% in typical yields, reaching an average of 6.9% across England and Wales combined. It can be seen here, and in summary: Three regions—North East, East...
ONS reports record rises in rent
The Office for National Statistics reports a record 6.1% annual increase in private rents in England in 2023, reflecting the sharpest rise on record. Wales experienced the highest annual rent increase in Britain at 7.1%, followed by Scotland at...
Haringey trying to bring empty property into use
Haringey Council has voted to charge 200% Council Tax on properties that have been empty for 12 months, reduced from two years, to encourage owners to bring them back into use. The new charge is set to take effect on April 1, 2024. The move is part...
PRS REIT reports rents remain strong
In their update for the quarter to 31 December 2023, PRS REIT plc, an investment trust that invests in high-quality, new build, family homes in the private rented sector, reported: Rental demand for the Company's homes remains very high, reflected...
Mortgages for Business rebrands
Mortgages for Business is rebranding. The buy-to-let intermediary, which was founded in 1990, will now be known as Mortgage Finance Brokers. The firm says its name change reflects the fact that commercial mortgages now make up a small proportion of...
Wage growth slows again, and there’s a growing divide
The Office for National Statistics (ONS) has released employment and wage data for the year to September-November. Current wage growth has slowed, and if it continues at the current pace, wages will be up 2.8% in a year. Wages in...
Local plans deemed ineffective
Research by planning and development consultancy Lichfields reveals that the current requirement to review local plans every five years is ineffective at ensuring they are kept up to date. The lack of clear guidance on what authorities must...
Three things landlords must do to survive 2024
The Telegraph has run an article from the Secret Landlord on the the three things she is recommending you do asap. The article can be seen here (subscription may be necessary) and her 3 key Landlord Survival Tips for 2024 are: Review All Tenancies...
Record number of buy-to-let companies established in 2023
Key Points: Record Number of Buy-to-Let Companies in 2023: Despite a decrease in landlord property purchases, the UK witnessed a record 50,004 new buy-to-let companies established in 2023, surpassing the 2022 figure of 48,520. Shift Towards Limited...
Potential Prosecution under Landlord and Tenant Act 1987
Key Points: Prosecution under Landlord and Tenant Act 1987: Historically, there had never been an attempted prosecution under the Landlord and Tenant Act 1987. However, a recent attempted prosecution emphasizes potential criminal liability for...
Late Rent Payments Impacting Landlords in the UK
Property investors are increasingly struggling with tenants who are late or not paying the rent, research from mortgage lender Molo has found. Late Rent Impact: Property investors in the UK are facing challenges with tenants who are late or not...
Boundary Review Impact in East and West Sussex
Key Points: Boundary Review Impact in East and West Sussex: The Boundary Review has redrawn the political map in East and West Sussex to even out the number of people each MP represents. The changes will come into force for the next general...
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LATEST NEWS
Landlords still making EPC upgrades
Despite the government's decision to abandon proposals for minimum energy efficiency standards (MEES), many landlords...
Many landlords find it unprofitable to continue
The surge in buy-to-let landlords exiting the private rented sector (PRS) is attributed to various factors, including...
The court system is failing landlords, report says
An article in Legal for Landlords discusses the delays and challenges faced by landlords in the eviction process...
Reminder to check fire doors
Fire doors play a crucial role in preventing the spread of fire and smoke within buildings. The Fire Safety Act 2021...
Court and tribunal fees to rise
On April 1, 2024, the Ministry of Justice confirmed the increase in court and tribunal fees following a consultation...
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