EPC Ratings – new minimum rating requirement, less than a year to go
The Energy Efficiency (Private Rented Property)(England and Wales) Regulations 2015 mean that, from April 2018, private non-domestic (and domestic) landlords must ensure that properties they rent in England and Wales reach at least an EPC rating of E before granting a tenancy to new or existing tenants.
We are already planning ahead and will be in touch with our managed landlords in the next couple of months to give advice and help plan ahead where necessary.
Rental supply falls by a third in London
According to the latest ARLA data, the number of available rental properties in London fell by 1/3rd in April, compared with March. The number of landlords selling up, based on ARLA members, was 4 per branch in the month of April. So what will it mean for tenants, if through ongoing government intervention, landlords are targeted further through extra regulation and tax changes, resulting in more deciding to sell?
David Cox, ARLA Propertymark Chief Executive, said: “Although the rental market in London has seen a large drop in the supply of properties available to rent, it’s a different picture in the rest of the UK where we have seen little or no change to activity since March. It’s likely we’re seeing the rest of the rental market outside of the Capital plateau as a result of the election in June, with renters potentially holding back on their property searches until after 8th June. It’s important that housing is at the top of the new Government’s agenda, as we have had two elections and a referendum in the last three years which is stalling the policy process meaning that we do not have the right houses available to provide the homes people need.”
Mortgages sales down in April – More positive news in May
Property Reporter reveals that Equifax Touchstone has released data showing mortgage sales for the UK fell by 16% compared to the previous month.
This slump in sales was noted across the whole country, with London sales falling by 17.5%; however other reports are indicating a recovery in May, as Rightmove report that the average asking price in the city rose 2.1 percent from April to £649,864, even with the upcoming general election on 8 June.
Hundreds of Beko tumble dryers need to be fixed amid safety fears.
If you have a Beko tumble dryer, either at home or in one of your rental properties, please read the following link http://www.bbc.co.uk/news/business-40091191