Landlord Fined £485,000 for Illegal Shed Apartments
A landlord employing a false identity to circumvent legal oversight has been hit with a staggering fine totalling £485,000 after authorities discovered the illicit rental of a substantial shed converted into five separate flats. Yehuda Levhar, residing on Sudbury Court Road in Sudbury, faced repercussions after previously admitting guilt in 2021 for renting out a […]
Welsh Government Amends Occupation Contracts, Guidance for Landlords
The Welsh Government introduced amendments to the Occupation Contract template documents, prompting a need for landlords in Wales to take necessary actions. NRLA’s Head of Policy, James Wood, has shed light on the implications for landlords in Wales following this amendment. The adjustment, implemented on Wednesday (December 6), specifically targeted the explanatory information section within […]
England’s Property Market Skyrockets by £1.6 Trillion Amid Pandemic Surge
The property market in England has undergone a staggering surge, estimated to have escalated by an astonishing 27% in value following the upheavals caused by the pandemic. Recent assessments suggest that the collective value of properties has soared to an impressive £7.7 trillion, marking a significant increase from its standing at £6.1 trillion in 2019. […]
Shelter Alleges Conspiracy to Dilute Renters Reform Bill
In a striking move, housing charity Shelter has levelled accusations against a cohort including Members of Parliament, landlords, and other stakeholders within the private rental sector. The allegations suggest a coordinated effort to undermine the Renters Reform Bill, adding fuel to the fire as Shelter amplifies its campaign coinciding with its traditional pre-Christmas fundraising drive. […]
Increasing Costs Squeeze Landlords: Implications for the Rental Market
The prevalent notion of landlords as affluent investors easily absorbing escalating expenses without affecting their tenants’ financial burden is being challenged by a recent report released by the Intermediary Mortgage Lenders Association (IMLA). The study, derived from the Landlord Survey, paints a picture of the rental market primarily consisting of small-scale entrepreneurs, earning modest profits […]
Over a Third of Renters Fear Never Owning a Home, TSB Study Reveals
In a recent survey conducted by TSB, concerning findings emerged regarding the homeownership aspirations of renters in the UK. The study, carried out by IPSOS among 2,187 adults aged 18 to 75, highlighted the concerns and challenges faced by those aiming to step onto the property ladder. According to the research, over 33% of current […]
Huge Landlord Licensing Scheme Approved by Michael Gove
The London borough of Brent is set to implement one of the most expansive landlord licensing schemes in the country, following the recent approval by Housing Secretary Michael Gove. This ambitious initiative will require nearly all landlords in the borough to obtain a selective license, aiming to bolster living standards for renters while establishing clearer […]
Rightmove Predicts Asking Prices Will Decline by 1% in 2024
In a recent forecast unveiled by property portal Rightmove, a 1% decrease in the national average new seller asking price has been projected to occur by the close of 2024. This anticipated dip has been attributed to the intensifying competition among sellers striving to secure buyers in the current market landscape. The predictive analysis, drawn […]
Halifax House Price Index Sees Modest Rise in Property Values
The latest findings from the Halifax House Price Index have revealed a slight upturn in the UK housing market, indicating a 0.5% increase in average house prices during November. This follows a notable 1.2% surge in October, showcasing a continuing trend in the sector’s fluctuating performance. On an annual basis, property prices experienced a 1% […]
Migration Causing Rental Property Crises Says Zoopla
The United Kingdom is facing an escalating rent crisis, spurred by a surge in net migration that has intensified the demand for rental accommodations, reports Richard Donnell, the executive director of Zoopla, a leading property website in the UK. Donnell highlighted that renting has become the primary choice for many newcomers to the UK, consequently […]