Housing Minister Denies Evidence That Landlords Are Selling Up
Housing Minister Matthew Pennycook claims that there’s no evidence that landlords are selling up, which will come as a surprise to the likes of Zoopla who yesterday said that there are record numbers of chain-free properties on the market as landlords sell up As the Renters’ Rights Bill advances in Parliament, a growing chorus of […]
House Prices Hit Record High as Market Defies Economic Pressures
In a surprising turn for the UK housing market, house prices rose by 3.9% year-on-year in October, marking a new record high, according to the latest Halifax House Price Index (HPI). The average UK home now costs £293,999, eclipsing the previous peak of £293,507 recorded in June 2022. Despite this record, the rate of annual […]
Record Number of Chain-Free Homes on Market as Landlords Sell Up
In a notable shift within the UK property market, almost one-third of homes currently for sale are now chain-free, according to new data from property website Zoopla. The surge in chain-free listings — which represent 32% of all properties — is largely due to landlords and second-home owners choosing to offload their investments amid changing […]
Rayner Made a £48,500 Profit But Will Stop You Doing The Same Thing
Angela Rayner pocketed a healthy £48,500 when she sold the council house she bought under Right To Buy. In a significant policy shift, Deputy Prime Minister Rayner has proposed restricting the sale of newly built council homes under the Right to Buy scheme, a decades-old initiative that has allowed millions of social housing tenants, including […]
Bank of England Cuts Interest Rate to 4.75%
As expected the Bank of England cut interest rates today to 4.75%, the second interest rate cut of the year and the lowest rate for over a year. 8 members of the committee voted to lower rates and one voted to keep them the same. It is unlikely that there will be any further rate […]
House Prices to Surge 20%, Rents Up 17% Over Next Five Years: JLL Report
Property consultancy JLL has projected a striking 20% increase in UK house prices over the next five years, spurred by lower mortgage rates and a limited housing supply. The firm’s forecast highlights mounting challenges in meeting demand as potential buyers flock back into the market. In a recent report, JLL outlined expected national growth of […]
Landlords Report Record Profitability in Quarter 3
In a surge not seen since the first quarter of 2022, landlord profitability reached new highs in Q3 of this year, according to the latest research from Paragon Bank. Findings show that 87% of landlords reported profitable returns during this period, underscoring a robust trend that has been climbing steadily over the past year. This […]
Labour to Enforce Rental Auctions for Vacant High Street Shops
In an attempt to revitalise high streets, a government minister has confirmed that Labour will enforce a policy to compel landlords to rent out empty commercial units if they have stood vacant for more than a year. The initiative, originally introduced by the Conservative government in May 2023 under the Levelling-up and Regeneration Act, will […]
Landlords Switch to Temporary Accommodation to Increase Profits
The Housing, Communities, and Local Government Committee held a hearing in Parliament yesterday to examine the growing crisis of children living in temporary accommodation, with charities and policy experts describing severe impacts on families displaced from stable housing. Testimonies from the hearing revealed that, as rental costs soar, families are increasingly pushed into temporary living […]
Tenants’ Rights Group Demands Even Stronger Renters’ Rights Bill
Acorn, the prominent tenants’ rights organization, has launched a campaign urging renters to reach out to their Members of Parliament in support of amendments to the Renters’ Rights Bill, currently under debate. The group asserts that while the bill is a step in the right direction, it falls short of providing the robust protections that […]