Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Boris confirms end to Section 21 evictions and launches ‘Lifetime Deposits’
Boris Johnson has revealed several major shifts in government policy for the private rented sector and, as predicted, has put evictions at the centre of the General Election housing debate. In an article published by The Sun newspaper early this morning, Johnson has confirmed that the government will proceed with banning Section 21 eviction notices. “At the moment, renting a property can also be an uncertain and unsettling business, and the costs of deposits make it harder to move. We are going to fix that,” says Johnson. “A Conservative majority government will empower renters and give them greater peace of mind.” The policy has been opposed by landlords and many agents because it will push all evictions into the courts, making it harder and more expensive to eject tenants who default on their rent. Hugely welcome But homelessness charities have welcomed the move including Shelter, whose chief executive Polly Neate says: “Reports that Conservatives plan to scrap Section 21 ‘no fault’ evictions are hugely welcome. “If enacted, this would transform private renting for millions of people by providing them with stability and security.” Johnson has also said that if elected his government would bring in a system of transferable tenancy…
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General Election: Liberal Democrats reveal their manifesto property promises
The Liberal Democrats are the first major political party to publish its manifesto for the December 12th General Election. And should there be another hung parliament, then the LibDems have a fighting chance of making the ‘blue-sky thinking’ within the document into law. Its online manifesto features three key housing policies which would have far reaching consequences, mainly for the private rental market. These include some ideas poached off the government but also several radical policies that other parties have steered clear of. General Election promises: Helping young people into the rental market by establishing a new Help to Rent scheme to provide government-backed tenancy deposit loans for all first-time renters under 30. Promoting longer, three-year compulsory tenancies and ensuring they feature inflation-linked and built-in annual rent increases to give tenants security and limit rent hikes Introduce a national, mandatory licensing scheme for landlords to weed out rogue operators. One policy not mentioned in the manifesto is a plan promoted on Twitter by its housing spokesperson and former leader, Tim Farron. In November he said the party would increase council tax five-fold for empty properties that went unoccupied for long periods of time. “People are struggling to afford good homes…
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First time buyers and movers keep on borrowing despite Brexit
First time buyer, remortgaging and home mover home loans all increased year-on-year during September but the buy-to-let sector is still reeling from the government's assault, UK Finance figures show.
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Election housing debate turns nasty after Tory candidate suggests ‘work camps’ for nuisance tenants
Wannabe MP Lee Anderson posted a video on Facebook launching his solution to anti-social behaviour, but has been attacked from all sides for his views.
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Labour drops its much-derided private tenant ‘right to buy’ policy
After being announced two months ago by Shadow Chancellor John McDonnell, the party's policy makers realised it would be unworkable.
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Vendor numbers have slumped by 15% year-on-year, says Rightmove
Portal says Brexit, the looming General Election and weak house price growth have persuade thousands of vendors to postpone their home moving plans.
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Savills predicts post-Brexit housing market ‘bounce’ to start in 2021
Prediction is made at Savills report launch, despite Henry Pryor pouring scorn on anyone who makes housing market predictions in today's volatile political environment.
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Are UK student build-to-rent developers not thinking their sites through properly?
Too many developers are swamping local markets with large purpose-build student accommodation that is too posh for heavily-indebted students.
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Surge in overseas landlords returning to the buy-to-let market
Research by Hamptons International suggests the weak pound is persuading landlords from the US and Europe to return to the rental market.
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70% of vendors don’t care about Brexit
Surprising research from Jackson-Stops among 1,100 clients finds a clear majority aren't bothered by the ongoing Brexit fiasco.
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