Property industry news

The Housing Minister, Lee Rowley, MP, and Philip White, Director of Building Safety for the Building Safety Regulator, have published a joint open letter to building managers addressing the issue of charges associated with managing safety in buildings over 18 metres.

Demand increased within the residential sales sector, with the number of buyers registered and the number of viewings per property both increasing. In the residential lettings sector, tenant demand decreased, and stock levels increased marginally. However, legislative change including the Renters (Reform) Bill and Housing (Scotland) Bill, continues to dominate the wider discourse.

Letting agents have access to a wide array of industry tools to elevate their business operations, including CRM platforms, marketing software, referencing providers, accounting tools, and deposit services. Integrating suppliers is a straightforward method to maximise the utility of existing resources, streamline operations, prevent fraud, and improve the experience for both tenants and landlords.

On Thursday 2 May 2024, Londoners will cast their votes for the next Mayor and 25 Assembly Members. With a population of over nine million, and the highest house sales and rental values in the country, London presents unique challenges. Propertymark has written to the candidates outlining our housing plan for London, highlighting key priorities for the next four years and our proposals for addressing the city’s crisis in housing availability.

The UK Government has set out the actions it will take over the next two years to facilitate the data economy and drive growth and innovation in a range of sectors including the property market. By Summer 2024, the Department for Levelling Up, Housing and Communities (DLUHC) is expected to launch some pilot projects which will inform future digitalisation of the home buying and selling process.

Eight in ten people are charging, storing, or repairing their devices in a way that greatly increases the risk of fire, according to a survey by NFU Mutual. With lithium-ion batteries used in almost every household in the UK, and insurers reporting an increase in fire claims associated with them, it is advisable for agents to inform their landlords and tenants on how to reduce their risk.

The long-delayed Bill included over 200 amendments as it returned to the House of Commons for its Report Stage and Third Reading on 24 April 2024. Having been voted through by MPs it will now move to the Upper House, with Housing Secretary Michael Gove MP controversially stating that it’s up to the House of Lords to decide how quickly the Bill can become law.

HMRC has opened a pilot scheme for the proposed Making Tax Digital service for quarterly reporting. From 22 April 2024, agents can voluntarily sign up their landlord clients if they meet certain criteria.

The Home Buying and Selling Group (HBSG) has arranged the test and learn scheme involving a group of lawyers and conveyancers to iron out specific barriers to the adoption and use of logbooks for property transactions. For logbooks to be effective, widespread adoption across the industry is essential, and the HBSG is also planning engagement with surveyors and estate agents.

There are numerous ways that upfront information can help agents in today’s property market, including making it easier to value and list a property, and streamlining the buying and selling process . Propertymark encourages members to verify property details with HM Land Registry (HMLR) as best practice, particularly following the publication of Trading Standards’ full material information guidance in November 2023.

Propertymark’s Head of Policy and Campaigns, Timothy Douglas, met Patrick Harvie, MSP, as part of the Scottish Government’s Private Rented Sector Stakeholder Group to discuss the Housing (Scotland) Bill and continued to assert that rent control proposals should be dropped in favour of focusing on other actions to make the private rented sector more affordable. This will ensure there is an adequate housing supply that meets increasing demand and tackling existing inequalities of income and wealth.

The Leader of the House of Commons has confirmed the remaining stages of the Renters (Reform) Bill will take place on Wednesday 24 April 2024 with some key changes to the Bill brought forward. Whilst the UK Government has listened and reacted to some industry concerns, another chance has been wasted to effectively regulate property agents.