Property industry news

The Propertymark Trust has launched a programme of financial support offering grants covering up to 100% of the costs for a Propertymark Qualifications Level 3 (SCQF L6 in Scotland) Certificate in Property Agency, helping learners take a step toward professional growth and helping to shape the future of the property industry.

As the cost of living continues to rise, many renters are finding it harder than ever to save for the traditional upfront deposit required when signing a lease. This financial barrier can delay or prevent renters from securing their ideal home, while landlords face the challenge of ensuring financial protection without deterring potential tenants. Enter flatfair, Propertymark Industry Supplier and an innovative leader offering deposit alternatives that provide a smart, efficient, and cost-effective solution for both renters and landlords

HM Revenue and Customs (HMRC) has seen a spike in Stamp Duty Land Tax (SDLT) repayment requests where it’s claimed a property is not suitable for use (NSFU) as a dwelling so the lower, non-residential rates of SDLT apply. However, over 95% of NSFU claims are found to fall well below the required threshold, leaving property owners at risk of penalties.

In our consultation response, we urged the Welsh Government to reconsider plans to scrap the tax relief, citing the potential for loss of homes and the disproportionate impact on vulnerable tenants. Welsh Finance Secretary Mark Drakeford, MS, has now confirmed that The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025, which will take effect on 7 February 2025, will change the rules for tax relief but not abolish it.

Barking and Dagenham Council is set to implement a borough-wide selective licensing scheme, requiring all private rental properties to be licensed from 6 April 2025. The scheme is among the first to leverage a law change introduced by Housing Secretary Angela Rayner at the end of 2024, allowing councils to establish larger licensing schemes without seeking central government approval.

The Welsh Government’s response to the Local Government and Housing Committee's report on the Private Rented Sector (PRS) demonstrates alignment with Propertymark on key areas, such as the importance of the sector, the need for better data, and support for landlords and tenants.

Amendments from the Committee Stage were voted on in the House of Commons before the Bill completed its journey in the Commons on 14 January 2025. The Bill now moves on to the upper house for further scrutiny. Disappointingly, the UK Government has so far refused to reconsider the removal of fixed-term tenancies despite challenges from the sector. It has been confirmed that the Bill will not contain any regulations for minimum EPC standards, which will be separately consulted on by the Department for Energy Security and Net Zero in the coming months.

A recent auction has sent waves of excitement through the world of memorabilia collectors, with items from the legendary British comedian Eric Morecambe achieving record-breaking prices and highlighting the pivotal role of professional auctioneers in accurately valuing, presenting and selling these unique cultural artefacts.

Trading in ivory from the common hippopotamus, killer whale, narwhal and sperm whale will now be banned under The Ivory Act 2018 (Meaning of “Ivory” and Miscellaneous Amendments) Regulations 2025. The new legislation was originally laid in parliament in May 2023, under the previous UK Government, but implementation has been delayed due to a lack of parliamentary time.

The Welsh Government has recently concluded a public consultation on proposed amendments to Part B (Fire Safety) of the Building Regulations, resulting in significant changes that will impact sales and letting agents and building managers. Since 2021, several changes relating to the design and construction phase have already been brought forward, and a Building Safety (Wales) Bill will be introduced before the end of the current Senedd term setting out how building safety should be managed once a building is occupied.

2024 marked a remarkable year for Propertymark, as the organisation made significant strides in raising its profile, engaging stakeholders, and shaping policy discussions. This year’s achievements are a testament to the collective efforts of our team, members, and partners. Together, we have raised the bar, set new benchmarks and solidified our position as the leading voice in the property industry.

The UK Government has proposed to ban upfront payments of more than two months’ rent, claiming this will crack down on discrimination against lower-income renters by unscrupulous landlords. Propertymark has challenged this position, stating that a one-size-fits-all approach will end up blocking access to the private rented sector (PRS) for some tenants.