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- Issue 46: January-March 2022
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Commercial Outlook Q1 2024
Although challenges remain, key economic indicators give cause for optimism. GDP is trending upward, and inflation is edging closer to the Bank of England’s target. Member sentiment varies by sector, but there is notable positivity in the Land and Yards and Industrial sectors. Supply and demand imbalances remain, most notably in the Pubs and Restaurants sector, which continues to be impacted by changing trends.
Labour pledges fast action to make renters better off
Angela Rayner MP, Labour’s Shadow Housing Secretary, will lay out plans today, 20 June 2024, that the party claims will make renters better off if they win power in the General Election. Aiming to relieve cost-of-living pressure on private sector tenants, Rayner, and Shadow Chancellor Rachel Reeves MP, will pledge to crack down on unscrupulous landlords, ban no-fault evictions, and cap the amount of rent requested upfront.
Suitable housing for disabled people must be prioritised
The Levelling Up, Housing and Communities (LUHC) Committee published its inquiry report on disabled people in the housing sector where Propertymark gave evidence, which examined barriers to accessible housing, increasing the supply of accessible homes, and the support available for adapting homes, including reforms to the Disabled Facilities Grant (DFG). The overarching conclusion chimes with our long-held position that the ultimate key to tackling the housing crisis is to build more homes of all kinds.
Private Tenancies Act Section 8 coming into force on 1 September
The Smoke, Heat and Carbon Monoxide Alarms Regulations (Northern Ireland) 2024 set the standards for the number and type of alarms that must be installed in privately rented properties. Once they come into force, letting agents and landlords will be responsible for installing and keeping alarms sufficient in any property they rent out.