As the political and property landscapes continue to shift, there are important developments for landlords, home sellers and buyers to consider.
New Face in the Shadow Cabinet
In a recent reshuffle by Kemi Badenoch, James Cleverly has taken on the role of Shadow Housing Minister. While the appointment doesn’t bring immediate policy change, it signals a potential shift in future housing strategy. Political attention remains firmly on housing, and landlords and home movers will do well to stay informed about how this may shape legislation and the broader market.
Tenants Now Paying More Than Mortgage Borrowers
New figures have highlighted that, on average, renters are now paying more per month than those with mortgages. The latest data from property portal Zoopla shows that private tenants across the country are facing steeper monthly increases, with some seeing rises of up to 10% in the last year alone—compared to recent, lower mortgage rates. This growing gap underlines the ongoing demand for rental properties, with the value of property remaining strong for buy-to-let investors.
Equally, alongside the strong growth in mortgage lending, taking steps up the property ladder now has added appeal to those in a financial position to buy property. With homebuyers more active and motivated by the financial incentives, it’s a great time to act if you’re a homeowner thinking of selling.
Renters’ Rights Bill Delay
The long-anticipated Renter’s Rights Bill is due to return to Parliament this autumn. Key proposals, such as the abolition of Section 21 ‘no fault’ evictions and the introduction of a Decent Homes Standard for the private rental sector, are expected to be debated. While the bill’s finer details may still change, aims to give tenants greater protection indicate tighter regulations are forthcoming.
This means, if you’re a private landlord, it’s wise to have a strategy in place ready for the changes to come. Our Lettings’ Property Management team will be happy to provide advice and guidance on 01252 514000, or by email on compliance@mackenziesmith.co.uk
Navigating the Changes
Whether you’re a seller considering the timing of a move or a landlord weighing up your options, having the right guidance is more important than ever. With so many factors in play—from legislative reform to shifting demand and market pressures—it pays to get professional advice tailored to your situation.
At Mackenzie Smith, our local teams are on hand to provide informed, straightforward guidance on sales, lettings and property investment. If you’d like to understand what these changes mean for you, we’re here to help.
Feel free to get in touch today to book an expert valuation or contact your local branch for advice and guidance.
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