What's next for the UK housing market?

The English Private Landlord Survey 2024, published by the Ministry for Housing, Communities and Local Government (MHCLG), provides a detailed picture of the private rented sector (PRS) in England, capturing the state of play for landlords and tenants alike. This vital report sheds light on the evolving dynamics of a sector that houses nearly one in five households across England with new costs squeezing landlords and increases in diversity noted across age, gender and ethnicity since 2021.

A report, commissioned by the NIHE (Northern Ireland Housing Executive) and supported by the Chartered Institute of Housing (CIH) on letting agent regulation and fees, focuses on developing a new regulatory framework, and spotlights mandatory registration, a fit and proper person test, minimum qualifications, a code of practice and strict enforcement.

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.