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The home value index is a positive indicator of developments out there and the publication of its state of play on the end-of-year featured in lots of UK property information headlines – simply as you may count on.
But developments within the non-public rented sector additionally attracted their justifiable share of consideration as tales circulated about native authority licensing schemes and their powers of enforcement, particular considerations about damp and mildew in let property, and additional authorities funding directed in the direction of assuaging homelessness.
Let’s take a more in-depth look behind a few of these headlines.
Nationwide House Price Index – December 2022
The home value index maintained by the Nationwide Building Society confirmed the downward pattern that has characterised the UK housing market because the closing quarter of final 12 months:
- for the fourth month in a row, the speed of development continued its decline – marking an additional 0.1% fall in December, following a 1.4% drop in common costs in November, and leading to a 12-month improve to the tip of the 12 months of a mere 2.8% (the corresponding determine for the 12 months to the tip of November 2022 had been 4.4%);
- the general end result was a drop in common home costs of two.5% from the height reached in August final 12 months – essentially the most vital fall in costs since these recorded in 2008;
- the declining charge of development was felt throughout all areas of the UK, the Nationwide’s figures present;
- the consequences had been most noticeable within the southwest of England, the place the annual improve in home costs fell from its excessive of 12.5% to simply 4.3% by the tip of the 12 months;
- Scotland recorded the worst market efficiency – with home costs rising by simply 3.3% over the entire of 2022;
- East Anglia, in contrast, carried out comparatively strongly by displaying a median improve of 6.6% in home costs within the 12 months to the tip of the 12 months;
- in Wales, development slowed from an annual excessive of 12.1% within the third quarter to complete the 12 months at simply 4.5%;
- in Northern Ireland, common home costs rose by 5.5% in the course of the course of 2022.
The distinction between the strongest and weakest performing areas was the narrowest it has been because the constructing society started its index in 1974.
Propertymark: Licensing schemes and native authority enforcement considerations
In a press launch on the 30th of December, letting brokers’ and landlords’ stress group Propertymark questioned whether or not native authority licensing schemes do what they’re claimed to do in elevating the general requirements of lodging within the non-public rented sector.
The group argues that licensing schemes can show costly for landlords and could also be an ineffective manner of tackling anti-social behaviour by tenants, or managing the issues of low demand or of long-term empty properties.
Propertymark is very essential of native authorities’ licensing of Houses in Multiple Occupation (HMOs), fearing that over-regulation could find yourself denying the provision of this low-cost housing to low-income households and means that the planning system is likely to be a extra environment friendly manner of managing the operation of such housing.
Glasgow council warns landlords over damp and mildew
In Scotland, The Herald newspaper on the twond of January revealed that greater than 1,500 official notices have been issued by Glasgow City Council up to now few years warning non-public sector landlords of harmful ranges of damp and mildew in let properties.
The warnings are made by means of Statutory Nuisance notices issued below the Environmental Protection Act 1990, defined the newspaper story, and though the quantity reached a peak between April 2018 and March 2019, 150 have already been issued within the present monetary 12 months to the tip of March.
Minister reveals tens of millions extra to fund PRS assist schemes for homeless
The authorities is stepping up its monetary assist to assist councils throughout England fight the incidence of homelessness, reported Landlord Zone not too long ago.
The Christmas announcement promised as much as £654 million in funding to assist native authorities assist households liable to eviction and homelessness and people who may in any other case be sleeping tough.
Council will be capable of use the funds in discussions and negotiations with landlords and likewise use it to offer non permanent lodging or to furnish a deposit for a brand new house for susceptible households and people at risk of turning into homeless.
Together with an additional £24 million to assist home abuse victims who’ve been made homeless, the brand new funding provision is a part of the official £2 billion of public cash aimed toward tackling tough sleeping and homelessness.