Property investors are increasingly moving away from residential buy-to-let portfolios towards commercial property in response to mounting tax and regulatory pressures. Trade body Propertymark reports commercial agents are receiving more enquiries from residential landlords seeking to transition their investment strategies. The post Residential landlords shift to commercial amid tax pressures appeared...
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Housing Minister Matthew Pennycook has defended the Government's housing policy record during questioning by MPs, rejecting claims that Labour lacked a comprehensive plan when entering office in 2024. The minister cited a 15% increase in new-build starts but declined to confirm progress towards the 1.5 million homes target. The post Housing minister defends Labour’s policy record at committee appeared...
More than five million UK households are expected to face higher mortgage repayments when they refinance over the next two years, according to the Bank of England's latest Financial Stability Report. The Bank estimates that just over five million borrowers will see their monthly repayments rise by the end of 2028, an increase from its previous projection of nearly four million. The post Five million UK...
Estate agents face mounting pressure to respond to client communications within 24 hours across nearly all stages of the property sales process, according to new research from Street Group. A survey of 1,830 current and recent home sellers found that rapid response times have become a key factor in agent selection. The post Property sellers expect agent responses within 24 hours appeared first on...
The student lettings sector is experiencing significant disruption following implementation of the Renters' Rights Act, with landlords and agents facing unexpected financial losses this summer. Early termination provisions have resulted in void periods that could eliminate annual profit margins for many operators. The post Student lettings face disruption from Renters’ Rights Act appeared first on...
The UK housing market has experienced a temporary slowdown in recent weeks, with Purplebricks chief executive Michael Bruce attributing the pause to the World Cup and warm weather conditions. The Lloyds house price index showed average property prices reached £299,330 in June, up 0.2% from May. The post World Cup and warm weather slow UK housing activity appeared first on...
BNP Paribas Real Estate, Strutt & Parker and Greenslade Taylor Hunt have announced senior appointments across research and operational roles. The moves include new research heads at two major firms and a managing director appointment at build-to-rent operator Apo. The post Major property firms announce research leadership changes appeared first on...
Several major UK lenders have announced rate reductions on mortgage products as falling swap rates increase competition in the lending market. The two-year swap rate has dropped to 3.913% and the five-year rate to 3.999%, with Nationwide, Virgin Money, BM Solutions and Halifax all cutting rates across selected products. The post Major lenders cut mortgage rates as swap rates fall below 4% appeared first on...
More than 260,000 owner-occupied homes could enter the market within a year if reforms to the homebuying process reduce uncertainty over transaction times, according to research from Jackson-Stops. The estate agency estimates that over 700,000 owner-occupied homes could be released over three years if confidence in the sales process improves. The post Process reforms could release 260,000 homes to market...
Landlords in England could face fines of up to £7,000 per hazard if they fail to address overheating risks in rental properties. The warning comes as temperatures are expected to rise again this month, with excessive heat now recognised as a potential hazard under the Housing Health and Safety Rating System. The post Landlords face £7,000 fines over overheating hazards appeared first on...