What's next for the UK housing market?

Housing Minister Matthew Pennycook MP candidly admitted that the current Act contains flaws requiring further legislative action and has unveiled a series of consultations and measures. He has also committed to strengthening the regulation of managing agents, including as a minimum, mandatory professional qualifications.

With all eyes on the Renters’ Rights Bill, discussion around the regulation of property agents (RoPA) has taken a back seat. However, responding to a question in Parliament, Housing Minister Matthew Pennycook MP stated that reforming the sector included raising professional standards amongst agents to protect consumers and defend the reputation of good agents from the actions of rogue operatives.

Giving evidence to the first session of the Renters’ Rights Bill Committee on 22 October 2024, our Head of Policy and Campaigns, Timothy Douglas, demonstrated the value of engagement from our 18,000 members and raised several key areas where amendments should be made to ensure the Bill is fit for purpose. We will continue to share members’ insights and concerns about the legislation and advocate for balanced measures that protect renters while supporting landlords in offering safe, high-quality homes.

In the second of our series of webinars considering the potential impacts of the new legislation on agents and their businesses, one central message came across clearly - record-keeping will be of paramount importance once the Bill is enacted, and agents can use this time to prepare. Propertymark has developed a complete package of support to help property agents adjust and will continue to evolve our advice as the Bill progresses.