Author: Gabrielle McPherson
The Renters Reform Bill Won’t Be Passed Due to the Surprise Election
Rishi Sunak has announced that there will be a General Election on July 4th, effectively suspending Parliament sessions until after the election. This means that MPs won’t continue to work on various bills, including the Renters Reform Bill, which isn’t scheduled to be discussed this week, although some others like the Leasehold and Freehold Reform…
New Rules Facilitate Conversion of Farm Buildings into Homes and Businesses
The government has introduced new permitted development rights (PDR) that enable unused farm building conversions into residential homes, retail stores, coffee shops, recreational facilities, and various other business premises without submitting a standard planning application. Implemented this week, these regulations support the government’s announced ‘Long-term Plan for Housing’ back in the previous July. Official data…
Understanding the Impact of the General Election on the Property Market
Prime Minister Rishi Sunak has declared that the UK will have a General Election on Thursday, July 4th, 2024, with the dissolution of Parliament scheduled for the preceding Thursday, May 30th. The announcement has led to various predictions about how the election may affect the housing market. Nathan Emerson, CEO of Propertymark, emphasizes the importance…
Key Factors to Consider When Choosing Student Accommodation
Students often quickly sign leases for what looks like an ideal student house but later discover problems like poorly equipped kitchens, slow internet, and noisy neighbourhoods that disrupt studying. Taking the time to consider these factors beforehand can prevent such headaches when choosing student accommodation. Choosing the appropriate student house is vital for both your…
Unexpected Mortgage Rate Hikes Pressure Homebuyers as Spring Housing Market Heats Up
April brought with it mortgage rate hikes to go along with an uptick in housing market activity, according to OnTheMarket’s latest Property Sentiment Index. The pace at which homes are being sold remains consistent. The mood in April seemed quite consistent, with a small boost in seller optimism paralleled by a minor dip in buyer…
House Price Index: Prices Hit New High in Spring
Rightmove’s latest house price index reveals that the typical listing price for a home in Great Britain has set a new high, surpassing £375,000 with a 0.8% increase. Spring, being the peak season for property activity, often brings about a rise in prices as well. There has been a consistent monthly rise in average asking…
Andy Burnham Intensifies Fight Against Manchester’s Problematic Landlords
After winning re-election, Manchester Mayor Andy Burnham has pledged to use £600,000 of council taxes to implement strategies aimed at confronting landlords who are not following regulations. Burnham has introduced the Property Check scheme, which gives tenants the power to request an inspection to ensure their rental meets the Decent Homes Standard. Initially tested in…
Cladding Court Case: Freeholder Hits Back at Government
The owner of Vista Tower in Stevenage has voiced dissatisfaction with the government’s portrayal of a court ruling on fire safety, as a ‘win for leaseholders’ in their recent cladding court case. Grey GR faced legal action from the Department for Levelling Up, Housing and Communities for not addressing fire safety concerns found in 2019…
Increase Homelessness Risk for Renters As Property Investors Leave the Market
Landlords are leaving the rental market in considerable numbers, with many seeking to offload their buy-to-let properties, causing a significant rise in renters who could potentially become homeless. Official statistics indicate that in England, over 2,000 households monthly are at risk of homelessness as private landlords are choosing to sell their properties, citing uncertainty due…
Savills introduces the first Climate Vulnerability Index for Netherlands office markets
International property firm, Savills, has published a comprehensive analysis examining the impacts of climate change on the office property sector in the Netherlands. They have also released a critical map that shows the different levels of threat to various regions, serving as a crucial tool for property investors and developers. Utilizing the Climate Vulnerability Index,…
China’s Real Estate Decisions Impact Global Markets
The world of international real estate is keeping a watchful eye on China’s real estate investors and their lenders as they quickly sell off their property holdings to adapt to market shifts in their country. This rush to convert property into cash is attracting global attention, offering valuable insights into the industry’s health. External pressures…
Anti-Money Laundering Webinar by Rightmove and FCS Compliance
Rightmove and FCS Compliance have scheduled their next webinar focusing on anti-money laundering (AML). The topic is the top ten expensive AML mistakes made by businesses and how to avoid them. The webinar, which lasts an hour, is set for 10:00 am on Wednesday, May 22, 2024, and Rightmove members can attend for free. Malcolm…
UK Inflation Projected to Hit 2% Target
The UK inflation rate is anticipated to decrease to the Bank of England’s 2% goal in the second quarter of 2024 according to forecasts that will be released next week. While there’s a sense of optimism, a slight increase in inflation is expected in the latter half of the year. In July, energy price figures…
Innovative Digital Twin Technology for Estate Agents
A cutting-edge communication tool designed for estate agents has been introduced to offer round-the-clock assistance to homebuyers. This tool, which incorporates digital twin technology, can provide immediate and precise responses to queries, enhancing the process of finding a new home. Created by SMS Speedway located in Carlisle, the digital twin technology delivers constant support with…
How to Sell Your House: A Comprehensive Guide
Are you excited about moving to a new place, maybe one with more room or a scenic coastal view? If yes, then it’s time to turn those dreams into reality. Our straightforward guide will lead you through the selling process, covering everything from choosing a real estate agent and pricing your home to preparing it…
Estate Agent Offers Staff Unlimited Holidays
An estate agent company named eXp UK is changing the game by offering its full-time employees unlimited holidays. This move aims to create a better balance between personal life and work for everyone at the company, including those who are not self-employed agents. As it stands, the law requires at least 28 days of paid…
Essential Contacts for New Homeowners
Buying a new home can feel like a daunting task with a mountain of things to organise, from getting a mortgage to planning the actual move. With so many tasks on your plate, it helps to be well-prepared and organised. Having a list of essential contacts can be a lifesaver, as they offer expert advice…
How Estate Agents Can Boost Sales from the Increase in Sellers
There’s been a noticeable increase in sellers entering the housing market. Estate agents listing properties on Zoopla now have about 31 homes for sale (not counting those under offer or sold subject to contract), marking a five-year peak. Factors like the pandemic, shifts in how people work, rising living costs, tax updates, and the increased…
The Government Emerges Victorious in Pivotal Cladding Court Case in Stevenage
A cladding court case has been won by the government, requiring the freehold owner of a high-rise building to address unsafe cladding issues. In October 2022, the Department for Levelling Up, Housing and Communities took legal action against Grey GR Ltd Partnership, the owner of Vista Tower in Stevenage, on account of their failure to…
Discover the Allure of Bioethanol Fireplaces
If you’re looking for a stylish and eco-friendly way to heat your home, consider bioethanol fireplaces. These units burn cleanly and don’t produce the mess associated with traditional fireplaces, such as soot or ash. Not only do they provide a sustainable heating option, but they also add an elegant touch to any home’s décor. Eco-friendly…
Government Drops Plans to Criminalise Homeless People
Due to opposition from around 40 Conservative MPs, the government has decided not to go ahead with proposals that would have made “nuisance begging” and the presence of “excessive” odours reasons to criminalise homelessness. These proposals, which were part of the Criminal Justice Bill and advocated by the contentious former home secretary Suella Braverman, could…
Hot Locations for Buy-To-Let Investors in the UK
The UK housing market continually evolves, and buy-to-let investments remain popular among investors. Given the varying economic conditions and diverse growth in different regions, it’s important to find the most profitable areas for rental investments. Relying on recent data from Dataloft, our article highlights which cities offer prominent buy-to-let prospects. These areas are not only…
Home Insurance Costs Spike by 31% within a Year
The cost of home insurance surged by nearly a third (31%) from January to March 2024, according to data from Compare the Market. In the UK, the average home insurance bill climbed from £159 in 2023 to £209 this year, marking a £53 hike. During the first quarter of 2024, this upward trend affected all…
Asda Plans to Build 1,500 Homes in New Development Venture
The supermarket Asda is making its debut in the property sector by collaborating on a large-scale property redevelopment scheme next to London’s HS2 station. In a joint effort with the established developer Barratt, Asda will contribute to the transformation of Park Royal in West London into a vibrant town centre. The plan includes 1,500 new…
New Heights for The Founding at Canada Water
The first phase at Canada Water, The Founding, introduces 186 impressive new homes. Allies & Morrison architects and Conran and Partners interior designers lead the world-class design team. The residences boast prime waterfront locations with unmatched views of London’s skyline. Part of a larger 53-acre plan, this development will create a net-zero community complete with…
A welcome increase in Property Listings
As the UK welcomes the lively season of Spring, its Property Listings are experiencing a remarkable boom, presenting appealing prospects for those looking to buy a home. A report from Dataloft reveals a heartening 20% hike in the number of homes hitting the market compared to the previous year. This upward trend in property listings…
Buying vs Renting: Buying in London Almost 50% More Expensive Than Renting
Buying vs Renting: London’s mortgage expenses have soared to 42% above the average rental rates in the city, considerably complicating the home-buying process. In London’s wealthier central areas, homebuyers are finding themselves paying about 66% or £1,232 more each month on mortgages compared to renting. However, in Greenwich, a favourite spot for investors and those…
Persimmon Sales Agent Suspended after ‘flipping the bird’ to Homebuyer
A Persimmon sales agent has been put on leave after he was caught on camera giving the middle finger to a potential homebuyer. The incident, highlighted by MailOnline, occurred during an argument in Derby at a property the agent was selling. The offensive gesture happened at Buttercup Leys estate, a development with homes priced up…
NRLA Reports Local Authorities Struggle to Collect Fines from Rogue Landlords
The National Residential Landlords Association (NRLA) has released a report showing that local councils are not efficiently collecting fines from landlords who violate housing regulations. Less than half of the issued fines have been collected. Councils handed out £13 million in fines to landlords between 2021 and 2023, but so far, they’ve only managed to…
Estate Agent jobs on the rise
The UK is currently seeing an average of 5,152 estate agent job vacancies, which is a 4% increase compared to last year, according to recent studies. Research by eXp UK involved examining estate agency job postings on two main job boards, assessing the average vacancy numbers for each British region and their contributions to the…
Seymours opens new head office in bustling shopping centre
Seymours, which operates 20 independent estate agency branches mainly in Surrey, has shifted its Woking branch to a freshly designed, sizeable showroom office in the Victoria Place shopping centre. Their latest 3,000 square foot flagship premises is a significant development in Seymours’ journey, as the firm continues to deliver residential sales and lettings services to…
Call for Bank of England to Lower Interest Rates Amid Rising Mortgage Costs
There is increasing pressure on the Bank of England to decrease interest rates following recent hikes in mortgage expenses. An assembly of independent economists, known as the shadow committee, has demanded a significant and immediate reduction in interest rates. Yet, the expectation among economists is that the committee will maintain the current rate of 5.25%,…