Renting Homes Wales: Frequently Asked Questions for Landlords
The Welsh Government has issued new answers to common questions about changes to the way all landlords in Wales rent their properties. Click here to visit the Welsh Government’s website
Propertymark Wants Tax Relief and Investment for Landlords
Propertymark, a prominent trade body representing property professionals, has expressed its approval of Housing Secretary Michael Gove’s recent commitment to abstain from introducing rent controls in England. This stance, they assert, aligns with their belief that such controls deter investment and lack effectiveness in regulating rental prices. The trade body has emphasized that recent increases […]
Scottish Rent Prices Soar Despite Rent Controls
Average rents for new tenancies in the private sector have seen a surge, marking the fourth consecutive quarter of double-digit increases. The escalating rental costs come on the heels of the implementation of rent controls, underlining the pressing need for further legislative attention. Recent data released by lettings portal Citylets paints a worrisome picture of […]
Rental Prices in England Experience Sharp Decline in October
In a significant turnaround for the property rental market, England witnessed an 11% decrease in rental prices during October, marking a post-summer correction following several months of surging costs, as revealed in the latest Goodlord Rental Index. The month of October saw the average rents on new tenancies retreat to levels last observed in May […]
Mortgage Approvals Hit Two Decade Lows Amid Economic Uncertainty
In a financial climate marked by uncertainty and soaring interest rates, mortgage approvals for house purchases and remortgaging have plummeted to depths not seen in years, according to the latest data from the Bank of England (BoE). House purchase mortgage approvals reached their lowest point this year, while remortgaging approvals hit a staggering low not […]
Landlords Increasing Rents Amid Rising Costs, Survey Reveals
A poll conducted for the Deposit Protection Service has found that three-quarters of landlords are either in the process of or planning to increase rents for their tenants. This comes as 40% of buy-to-let property owners have already raised rents over the past year, with an additional 35% intending to follow suit in the near […]
Zoopla Says There’s Been a 23% Decrease in the Number of Homes Sold
The year 2023 has witnessed a 23% decrease in the number of homes sold compared to the previous year, as the housing market grapples with the repercussions of elevated mortgage rates. A recent report by Zoopla reveals that the rise in borrowing costs has led to diminished sales, rather than a substantial decline in house […]
Major Changes Expected for Renters Reform Bill in Committee Stage
The Renters Reform Bill, currently making its way through Parliament, is poised for major adjustments as it advances to the Committee Stage. The bill, which successfully passed its Second Reading last Monday, now enters the third of its five crucial stages in the House of Commons. The Committee Stage, traditionally commencing approximately two weeks after […]
Government Announces Plan to Phase Out Leasehold System
In a move aimed at “restoring true home ownership,” the UK government is set to unveil plans to phase out the leasehold system for all new houses in England and Wales. This initiative is expected to be introduced through a new Leasehold Bill, to be presented in the upcoming King’s Speech, according to an article […]
5.5% of Houses in England and Wales are Vacant
Startling statistics from the Office for National Statistics (ONS) have revealed that approximately 5.5% of the housing stock in England and Wales is “truly vacant.” This figure amounts to a staggering 1.5 million properties, which is eight times the number of homes classified as second homes, standing at 172,800. The census data, drawn from the […]