Page 231 – Property118

UK’s housing crisis made worse by migration – MP

23rd February 2024

A Tory MP has claimed that the UK’s housing crisis is being aggravated by the post-Brexit migration system which sees tenants now paying 40% of their disposable income on rent, The Times reports. Neil O’Brien, who was the levelling-up minister until last year, conducted an analysis that showed Britain had one of the lowest homeownership […]

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Housing market rebounds as buyers return

23rd February 2024

The UK’s housing market showed signs of recovery in January as lower mortgage rates encouraged more buyers to resume their property search. That’s according to Hamptons, who say that the search is being led by first-time buyers and second-steppers who rely on mortgage finance. Aneisha Beveridge, the firm’s head of research, said: “The early signs […]

Property expert outdoors discussing rising UK rent prices

Renters face financial hardship and food insecurity, survey reveals

23rd February 2024

Only 9% of tenants in the UK say they are financially comfortable, while 59% said they had trouble paying their bills and expenses due to the high cost of living, a survey reveals. The findings from Zero Deposit also found that nearly half (46%) of renters said they had little, or no money left after […]

Section 21 ‘no-fault’ evictions ban sparks landlord ‘uncertainty’, says law firm

23rd February 2024

While Housing Secretary Michael Gove has vowed to end Section 21 ‘no-fault’ evictions before the next General Election, legal experts are warning that his pledge may cause confusion and uncertainty in the housing market. The government plans to ban Section 21 evictions under the Renters (Reform) Bill and require landlords to rely on statutory grounds […]

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London property beats most investments in 10-year returns, Foxtons says

23rd February 2024

Foxtons has revealed that the capital’s residential property market has delivered one of the best returns over the last 10 years, second only to Bitcoin and gold. The lettings and estate agents compared the performance of London property with nine other common investment choices, ranging from wheat to crude oil, and natural gas to the […]

Real estate Sales manager giving keys to customer after signing rental lease contract of sale purchase agreement, concerning mortgage loan offer for and house insurance.

Boomers help Millennials buy homes in a tough market

23rd February 2024

A new study shows that the UK’s passion for homeownership remains strong and that baby boomers are playing a vital role in helping millennials get on the ladder. The property lender Together says the property market has become much harder to enter for first-time buyers over the past 50 years, with average prices soaring by […]

Rees-Mogg slams Gove’s ‘socialist error’ Renters (Reform) Bill

22nd February 2024

Sir Jacob Rees-Mogg, the former leader of the House of Commons, has launched a scathing attack on the housing secretary, Michael Gove, over his proposed Renters (Reform) Bill, which he called a ‘socialist error’. The Bill aims to improve the security and standards of tenants in the private rented sector (PRS) and would abolish section […]

Charity demands action from First Minister to tackle housing crisis

22nd February 2024

 A housing charity is urging the First Minister to declare a housing emergency across the whole of Scotland. Shelter Scotland has delivered an open letter to Humza Yousaf calling for him to deliver an action plan to solve Scotland’s housing crisis. Housing emergencies have already been declared in Edinburgh, Argyll and Bute and Glasgow. It’s […]

Cap rents for key workers, says campaign group

22nd February 2024

Key workers in London are struggling to afford the high rents in the city and a rent cap is needed, says one campaign group. A report from Generation Rent highlights how much key workers are struggling as it calls for all metro mayors – including London’s Sadiq Khan – to be elected in England in […]

Survey shows landlords prioritising communication and safety standards

22nd February 2024

Landlords are listening more to their tenants’ needs and improving compliance standards, according to new research. A survey by Total Landlord Insurance reveals a positive shift in the landlord-tenant dynamic amidst challenging economic times. According to the survey, more than half of landlords (58%) are willing to accommodate their tenants’ financial situations. The proportion of […]

Landlords can access Disabled Facilities Grants to make adaptations for disabled tenants

22nd February 2024

A new resource from the National Residential Landlords Association (NRLA) aims to help landlords make their properties more accessible for tenants with disabilities or long-term illnesses. The factfinder, which is supported by Foundations, the national body for home improvement agencies, explains how landlords can use Disabled Facilities Grants (DFGs) to fund adaptations such as ramps, […]

London rental market beginning to stabilise say Foxtons

22nd February 2024

Rental prices in the capital saw a slight downturn amidst increasing supply, according to new research. According to letting agents Foxtons, rental prices decreased by 1% in January 2024 compared to the same period in 2023, Foxtons say this small decrease in rental price could be attributed to increasing supply. The average weekly rent in […]

Landlord working out service charge demands property118

How long can you increase service charges for without maintaining the property?

22nd February 2024

Hello, I am paying very high service charges for my flat (3 times the average in London), recently this has risen again with the appointment of a new managing agent and a change in freeholder. The new freeholder is also the majority share leaseholder who forced the sale of the freehold, ignoring our request to […]

Section 21 ‘no-fault’ evictions are ‘fundamentally unfair’

21st February 2024

Using section 21 ‘no-fault’ evictions to remove ‘model tenants’ in a court of law is ‘fundamentally unfair’ and will ‘get worse’. That is the opinion of Simon Harris, the chief executive of Citizens Advice Staffordshire North and Stoke-on-Trent, who spoke to Stoke-on-Trent Live about the latest data on ‘no-fault’ evictions. He said: “It’s something we’re […]

pic of london buses michael gov renters reform bill property118

Landlord MPs amendments threaten progress on Renters Reform Bill claim campaigners

21st February 2024

Campaigners are warning the Renters (Reform) Bill is being watered down by MPs. The Renters Reform Coalition and Shelter claim a group of backbench MPs who are also landlords are delaying the bill for their own interests. Analysis of the Register of MP’s Financial Interests conducted by the Renters’ Reform Coalition reveals that five out […]

Boarded-up house representing a fixer-upper property opportunity.

Do empty properties benefit from reduced VAT rate on building works?

21st February 2024

Hello, my question is about HMRC VAT Notice 708 and specifically section 8 empty properties. Properties empty for 2 years benefit from a reduced VAT rate on works. 5% rather than the usual 20%. >> https://www.gov.uk/guidance/buildings-and-construction-vat-notice-708#section8. I have one property where I am benefitting from this and just found out that a second property I […]

Andy Hulme of Hyde Housing Association responding to Housing Ombudsman report

Council slammed by Housing Ombudsman for poor repairs and complaints handling

21st February 2024

A special investigation by the Housing Ombudsman has exposed how Hammersmith and Fulham Council failed to provide adequate repairs and complaints handling to its residents, leaving them ‘feeling anything but secure in their homes’. The report found that the council had a maladministration rate of 88% in 33 cases investigated, with 85 findings of fault […]

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Scottish house prices soar while UK average falls

21st February 2024

Scotland outperformed the rest of the UK in the property market in 2023, with a 4.2% increase in house prices, while the UK average fell by £740, according to one property firm. DJ Alexander Ltd, Scotland’s largest lettings and estate agency, analysed the monthly house price index and found that the average house price in […]

Property expert discussing landlord sentiment after stamp duty increase

Some London boroughs see £230,000 wiped off the average house price

21st February 2024

Just six London boroughs managed to register an increase in house prices in 2023, while the rest faced a drop, especially in the prime market, research reveals. A new report by Benham and Reeves, based on the latest data from the Land Registry, shows how the capital’s housing market fared over the last year, amid […]