House prices will fall 5% in 2012

Average house prices across the UK will drop by 5% next year and will show little convincing growth until 2015, according to the latest forecast from estate agent Knight Frank.

The UK has struggled to emerge from recession and there are fears that the economy may start to shrink once more. This ongoing economic weakness, lacklustre earning growth and public spending cuts will take a toll on the housing market over the next 12 months.

The 5% drop in prices will leave property values nearly 15% below their 2007 peak. In fact, even with the modest gains seen in later years, the agents forecast that average house prices will not hit 2007 levels again until 2018.

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Rogue landlords face fines of £50,000 for failing to register with council

Rogue landlords have been warned that they face a £50,000 fine if they do not register with a city council as it cracks down on the problem.

An estimated 6000 private landlords in Glasgow have not given their details to the local authority despite a legal requirement to do so.

Glasgow City Council said it has been carrying out "extensive work" to track down the offenders.

It said that the landlord register is a key element in the bid to drive up standards and ensure decent housing for tenants.

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Private sector rents 'at new high in England and Wales'

Average private sector housing rents in England and Wales rose by another 0.7% last month, to hit a new monthly high of £718, a report has said.

It means rents have risen by 4.3% in the past 12 months, with tenants paying an average £29 a month more than they were a year ago.

The figures were compiled by LSL Property Services, which owns a number of estate agents and letting agencies.

LSL said rents had risen fastest in the South East and East Midlands.

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Private rented sector 'running out of space', say landlords

The private rented sector (PRS) may finally be running out of space to cater for tenant demand, according to members of the Association of Residential Lettings Agents (ARLA).

According to its survey, the number of agents from its 6,000-strong UK membership, stating that there are more tenants than properties has reached the highest level since records began.

The news will be a blow to the Government who is expecting the private rented sector to take the pressure off social housing waiting lists.

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Private rents in England unaffordable, says Shelter

Private rents are now unaffordable in 55% of local authorities in England, the housing charity Shelter has said.

Homes in these areas cost more than 35% of median average local take-home pay - the level considered unaffordable by Shelter's Private Rent Watch report.

The charity said 38% of families with children who rent privately have cut back on buying food to help pay rent.

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Rental arrears: how to protect your income

With the number of tenants falling into arrears increasing, Lorna Bourke examines how landlords can protect their incomes.

Good news for landlords – but not for tenants: rents have increased for a third consecutive quarter, according to buy-to-let lender Paragon. A knock-on effect that will hit landlords, however, is that arrears on rental payments are increasing too.

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Landlords in 'tax' rebellion

PRIVATE landlords in Hathershaw are uniting to oppose a council licensing scheme designed to tackle anti-social behaviour.

Angered property owners have branded the project being piloted in the area as a “stealth tax” as it will cost them almost £500 per property — and are threatening court action.

They’ve formed the Hathershaw Landlords Association in an attempt to restart discussions on the new licence, intended to improve standards, that could hit them with fines of up to £20,000 if they don’t pay up.

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NetRent Comment

Selective licencing has been adopted by many councils to help them 'police' perceived problem areas. Quite a few have been challenged but the proposed action by Newham Council could change everything. Under Newham's proposals all landlords would have to become licensed with fees starting at £300.

Landlords and letting agents have to wake up to the fact that we are beginning to see universal landlord licensing imposed via the back door.

EPCs too hot to handle for UK landlords

The private property rental sector in the UK is falling behind in green standards with more than a third of landlords unaware of the energy performance of their properties, it is claimed.

According to the latest research from the Association of Residential Letting Agents (ARLA) more than one in six landlords, 17%, believe that their properties fell into the minimum category of energy efficient performance, the F & G Band of the Energy Performance Certificate (EPC).

From 2018 under the Government's Green Deal, the rental of properties performing to this level will be banned through the minimum efficiency standard.

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Happy birthday, buy-to-let

Buy-to-let, a term 15 years old this month, is experiencing something of a renaissance amid punishing interest rates and strong rental demand.

Last Saturday marked 15 years to the day since the Association of Residential Lettings Agents coined the phrase 'buy-to-let'. The term was dreamt up to describe an innovative fast-track route to property investment in which any duffer with access to a deposit – and in some cases, not even that – could finance the purchase of property and allow a tenant to pay the mortgage.

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Newham Council starts consultation on plans to license private landlords

Newham Council has started a 10-week consultation on plans which could see it become the first borough in the country to license all private landlords.

If approved, the scheme in Newham could be up and running before next year's Olympic Games start in July. It would apply to one in three of all the borough's households, protecting an estimated 35,000 private tenancies.

The move comes shortly after the borough announced the creation of a task force to combat 'super sheds'. These are illegal ramshackle buildings built at the bottom of gardens which often house tenants living in appalling squalor. The council plans to use infra-red cameras and aerial photography to find the shanty-style homes - and ensure the landlords are brought to book.

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NetRent Comment
 
To take part in this consultation you have to live, work or own property within Newham. If you fall into any of these catagories you can express your views on Newham's Online Consultation