There was an increase in the number of first time buyers getting on the property ladder in September compared to the same month in 2018 according to UK Finance. On the downside, however, there was a fall in the number of homes being bought by landlords. Some 29,100 new first-time buyer mortgages were handed out in September, a modest 1.6 …
Labour drops Right to Buy plans Labour has dropped its plans to allow private tenants to buy their homes at a discount. Press reports over the weekend indicated that the policy was now regarded as too complicated to be included in the party’s manifesto for the December 12 General Election. Two months ago Chancellor John McDonnell told the Financial Times …
RICS’ policy manager, Tamara Hooper, says: “Persistent government meddling in the private rented sector has dampened landlords’ appetites to invest and expand their portfolios, with many consolidating their assets, or leaving the sector altogether.” And she adds: “In addition, the regular changes to the PRS regime have decreased stability and standards for tenants. The government needs to stop tinkering with …
The Government has confirmed that it has no plans to introduce a national register of private landlords. It has not even undertaken an assessment of the proposal, made in a report back in January when the Chartered Institutes of Housing and of Environmental Health jointly called for a register. The two organisations said that such a register would make it …
A letting agency has denied that ‘highly toxic’ gas is leaking into one of its tenant’s homes in Worcester. Leaders has said that it is confident that all safety procedures have been followed and that the home is both safe and compliant to gas safety standards. The tenant, Julie Parker, 58, has told a local newspaper that she believes an …
ARLA has slammed Labour’s intention to introduce rent controls if it gets into power at the next general election. Shadow chancellor John McDonnell said in a speech which also promised 32-hour working weeks, that Labour would “cap rents and build a million genuinely affordable new homes so young people in particular aren’t pouring away thousands of pounds from their wages …
Reservation agreements are likely to be back in the news on Wednesday when the Government is due to announce the results of a survey of consumers on the specific topic. Public reaction is understood to be highly supportive of legally binding agreements being made at acceptance of offer stage, designed to prevent fall-throughs and money wasted by both buyers and …
Annual house price growth froze at the start of the summer, sticking at its seven-year low in June. Land Registry data has revealed that average prices grew 0.9% annually in June to £230,292, level with May and the lowest rate since November 2012. Monthly growth also remained at 0.7%. House price growth was strongest in Wales where prices increased by …
Popular comedian Joe Lycett’s exposure of a London letting agent’s questionable practices shows that consumer rights are more relevant than ever, and as we’re more than aware, terrible practice is out there, but could publicity on shows like this be the stepping stone needed in order to crack down on these agencies once and for all? Most viewers might have …
Industry association ARLA blames the fees ban squarely on a record number of member agents reporting tenants facing higher rents during June. The UK’s leading lettings industry association has claimed that rents are beginning to rise significantly as the predicted outcome of the tenant fees ban begins to roll-out across the housing market. Agents who have reported rising rents increased …