Property industry news

Plans are afoot to strengthen HMRC (HM Revenue and Customs) to act quickly and robustly against professional tax advisers who help clients avoid paying the correct tax. Propertymark welcomes this because it aligns with our calls to the Treasury, and we support HMRC’s ambition to ensure the financial sector upholds the highest standards and integrity of the tax system.

Propertymark urges the UK Government to make access to housing a central part of its welfare system reform. Without suitable affordable housing options, it will be much harder to address other barriers to work, such as improving physical and mental health or engagement with education and training. Proposals in the Pathways to Work Green Paper will overhaul the existing system and introduce new initiatives, including unemployment insurance, to create sustainable health and disability benefits and employment support.

A new Corporate Plan for 2025 to 2028 sets out how the Welsh Revenue Authority (WRA) will expand its responsibilities and strengthen service delivery. The plan signals a step change in the WRA’s role, with implications for agents operating across the short-term lettings and tourism sectors in Wales.

The time it takes to complete a property sale in the UK remains stubbornly high, with buyers and sellers facing delays that can cause deals to fall through and create stress. Propertymark’s Housing Insight Report demonstrates that 32% of member agents reported it takes an average of 17 weeks or more to progress from offer to acceptance to exchange.

The UK Government has published proposals to reform planning committees in England as part of its broader planning reform agenda, setting out significant changes that could affect how planning decisions are made locally. Propertymark supports reform to improve the consistency and speed of decisions but warns that the current proposals may miss the mark, especially around delegation and local flexibility.

Trust is placed in lettings and sales agents by individuals and businesses who seek expertise, knowledge and attention to detail. With that trust, however, comes risk – and that's why it's essential to consider Professional Indemnity (PI) Insurance. Gallagher, the industry-approved supplier of insurance for Propertymark, offers cover for agency businesses to help protect them from the legal costs involved should a client make a claim against them due to a mistake or incorrect advice.

Propertymark has submitted a response to the House of Commons Public Bill Committee's call for evidence on the Bill, focusing on key areas that affect the property sector, particularly anti-social behaviour (ASB) and the protection of vulnerable tenants from exploitation such as cuckooing and county lines activity. Our key message is clear: no matter how strong the tools , they will only work if landlords and property agents are informed and engaged in the implementation.

US trade tariffs are shifting global auction dynamics, and UK auctioneers are being drawn into the ripple effects of international policy. While these measures are largely designed to protect US industries from Chinese competition, they’ve also had knock-on effects on transatlantic trade, complicating the movement of goods and altering buyer behaviour in ways that UK auction businesses are starting to feel. So, how can UK auctioneers respond with confidence to a changing market?

It’s likely that we will now see a return to a normal pace in the sales market now that the Stamp Duty threshold changes have taken effect in England and Northern Ireland. This spurred on a spike in momentum which is likely to tail off in line with previous trends seen on the back of property tax changes.

The lender has reduced its stress testing rates and adjusted how they calculate income, enabling some customers to borrow up to £35,000 more than before. This follows calls from the Financial Conduct Authority (FCA) for lenders to review their affordability tests and ensure they are not too restrictive.

Extensive revisions have been announced to the proposed Bill, which is designed to transition Scotland's buildings to cleaner heating systems and improve energy efficiency. Following consultations, including substantial input from Propertymark, the Scottish Government is now committed to developing a more balanced approach that aligns environmental objectives with economic realities.

The Digital Markets, Competition and Consumers Act (DMCC), which passed into law on 24 May 2024, contains provisions to prohibit unfair commercial practices, replacing and updating the Consumer Protection from Unfair Trading Regulations 2008 (the 2008 regulations). The legislation hands direct enforcement powers to the Competition and Markets Authority (CMA), giving them the authority to act on breaches of consumer protection rules, including requirements for providing material information.