Landlords have disposed of at least 2,000 student HMO beds across Britain over the past year, responding to the Renters' Rights Act and increased regulatory requirements. Specialist estate agency YieldMe reports handling £170 million worth of HMO sales in the 12-month period. The post Student HMO landlords sell 2,000 beds amid regulatory shift appeared first on...
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Manchester has surpassed London as the most sought-after location for buy-to-let investors, with 23% targeting the city compared to 18% focusing on the capital. The shift reflects investor preference for Manchester's 6.6% gross rental yields against London's 5.1%. The post Manchester overtakes London as top buy-to-let location appeared first on...
Estate agents may need to reorient their business models towards buyers rather than sellers as market conditions shift, according to industry commentary analysing recent property market data. Recent figures from Zoopla indicate buyer demand has fallen 10% year-on-year in May, while Rightmove reports that buyer choice has reached its highest level since 2015. The post Estate agents shift focus to buyers as...
Proptech company iamproperty has introduced a new service designed to accelerate property transactions by preparing documentation earlier in the sales process. The service, called Sale Ready, can reduce transaction times by an average of four weeks according to the company. The post Proptech firm launches service to speed property sales appeared first on...
A Kent-based letting agency has paid a £15,000 civil penalty after operating without required client money protection. Homelet PMS Ltd was fined by Medway Council for breaching regulations that mandate all letting agents handling client funds must belong to an approved protection scheme. The post Kent letting agent fined £15,000 for client money breach appeared first on...
Knight Frank has initiated a redundancy consultation affecting less than 3% of its UK workforce, despite posting a 6.3% increase in annual revenues. The agency confirmed the consultation is underway but declined to specify which departments or how many roles are under review. The post Knight Frank enters redundancy consultation process appeared first on...
Younger property buyers are increasingly willing to compromise on location to achieve homeownership, with one in five Gen Z purchasers prepared to move more than 25 miles from their preferred area. Average deposit requirements fell 16.4% year-on-year to £57,209, though affordability remains a significant barrier. The post Gen Z buyers prioritise price over location in property search appeared first on...
Property sales in Northern England have exceeded London's transaction values for the first time in two decades, according to research from Savills. The total value of homes sold across the North reached £68.8 billion in the 12 months to March, surpassing London's £67.9 billion. The post Northern England property sales surpass London for first time appeared first on...
The Property Ombudsman has issued a provisional decision against a letting agency after finding it transferred a landlord's student HMO into a rent-to-rent arrangement without his knowledge or consent. A provisional award of £700 compensation was proposed, along with a £1,288.13 credit for incorrect utility deductions. The post Ombudsman backs landlord in rent-to-rent dispute appeared first on...
Strutt & Parker has appointed Hamish Gilfeather as senior associate director in its broker team, continuing the expansion of its hybrid estate agency model launched in February this year. Separately, Propertymark has confirmed its new presidential team following its Annual General Meeting, with appointments taking effect across its professional divisions. The post Strutt & Parker expands broker...