The RICS UK Residential Survey for July 2024 indicates a mixed but slightly positive outlook for the UK's residential property sector. Average mortgage rates lowered in July, aligning with the market's anticipation of a Bank of England rate cut. This reduction has...
Annual growth in UK house prices quickened last month, according to data from mortgage lender Halifax. The growth rate increased to 2.3% in July, up from 1.6% in June, marking the highest annual growth rate since January. House prices rose by 0.8% in July compared to...
Overview: Recent research from Direct Line indicates a growing number of selective licensing schemes being imposed by local councils in England, increasing costs for landlords. Selective licensing schemes require landlords to obtain a license for renting out...
The UK Government is considering aligning capital gains tax (CGT) rates with income tax rates to address a £22 billion fiscal deficit, potentially increasing CGT rates up to 45%. This move could increase the average landlord's tax bill by £11,000 and trigger a mass...
Rightmove and OpenRent Contract Termination Key Points: Termination Date: Rightmove's contract with OpenRent will terminate on September 1. Reason for Termination: Conditions for OpenRent's ongoing membership with Rightmove could not be agreed upon. Impact on...
Research by Quilter suggests that landlords could face significant increases in capital gains tax (CGT) if Chancellor Rachel Reeves adjusts CGT rates to match income tax rates in her upcoming Budget on October 30th. This move is considered as a measure to address a...
The Telegraph has published an article entitled 'Labour plots fresh war on landlords'. It can be seen here (subscription may be necessary), and in summary says: Hardship Tests for Tenant Evictions The new Labour government is set to introduce 'hardship tests' to make...
A Propertymark report sheds light on the significant and far-reaching consequences of the Conservative government’s phased removal of mortgage interest rate relief under Section 24 of the Finance (No.2) Act 2015. Introduced by former Chancellor George Osborne, the...
Zoopla Research: Two-Bed Terraced Homes Lead Fastest Sales in England and Wales Recent research by Zoopla reveals that two-bed terraced homes are the fastest-selling property type in England and Wales, with sales agreements typically reached in just 27 days, compared...
Recent data from the Bank of England reveals a slight decline in mortgage approvals in June, indicating a potential stabilisation in the UK's housing market. Key Data Points Net Mortgage Approvals: June: 59,976 May: 60,134 March Peak: 61,080 June 2023: 53,620...
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As the UK anticipates the October Budget, landlords in the Private Rented Sector (PRS) are facing uncertainty,...
LandlordToday has published an article from Lawhive, who give their view of the potential impact of the RRB on the...
High mortgage costs, tax changes, and new legislation continue to pressure UK landlords, driving many to sell their...