At the Propertymark AGM today, 28 June 2024, we welcomed three newly elected members of the Propertymark Board and marked the beginning of fresh Presidential terms for the ARLA Propertymark and NAEA Propertymark Advisory Panels. This year's successful Vice-Presidents were also announced and will join the presidential teams for the sales and lettings divisions.

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.

The property industry urgently needs a clear strategy and strong, consistent leadership from the next UK Government. As the nation prepares to go to the polls on Thursday 4 July Propertymark has examined the manifesto promises on housing from major parties to see what is on offer to voters who care about the future of our sector.

Insights galore, new initiatives and tangible learning were the top takeaways from #PMOne that took place on Friday 14 June 2024 at ExCel London, where over 1500 delegates joined us to hear 50 speakers all experts in their field impart their wisdom and knowledge to help agents and their businesses grow.

The Leasehold and Freehold Act received Royal Assent on 24 May 2024 and brought an immediate ban on most new leasehold houses. However, only four other sections of the Act are enforced which will come into effect on 24 July 2024.

A brand new Propertymark Qualifications Level 3 (Level 6 SCQF) Certificate in Property Agency was opened for registrations on 14 June 2024 at Propertymark One. This revolutionary new qualification is, for the first time, modular-based, enabling learners to personalise their units relating to specialisms and location with the ability to complete extra units to gain wider sector expertise.

Connect is an exciting new intuitive, bespoke tech platform offering property agents an unprecedented opportunity to deliver potential instructions, increase portfolios and harness an additional income stream.

This decade has presented a near total transformation of the property sector with reduced confidence and supply, economic and interest rate uncertainty, dramatic changes in the conduct of consumers, new expectations among the workforce and the introduction of AI, the consequences of which are still being understood. As the only professional body dedicated to supporting sales, lettings, commercial agents, and auctioneers, Propertymark has reassessed not only the services we offer, but the whole structure of membership.

As technology continues to advance, the threat of cyber-attacks becomes increasingly prevalent. Investing in robust cyber defence measures can help property agents protect their sensitive data and systems — but what proportion of an IT budget should be set aside?

The Leasehold and Freehold Reform Bill received Royal Assent and became law on Friday 24 May 2024. It was included as part of the 'wash-up', as the House of Lords dealt with Bills prioritised with cross-party agreement, following the announcement of the General Election on Wednesday 22 May 2024.

In a keynote speech at a conference held by the Institute for Public Policy Research (IPPR) on 21 May 2024, Shadow Foreign Secretary David Lammy MP, announced policies to combat corruption, including increased registration requirements for trusts which are widely used to disguise the ownership of assets such as property.

The UK Government has announced that new powers to enable local authorities in England to regenerate high streets and fill empty shops will be in place by summer 2024. Propertymark welcomes the move, but we would like to see more detail on which areas will benefit the most, how the powers will be funded, and how they will be used in practice by councils.

The Scottish Law Commission has opened a consultation on the Tenancy of Shops (Scotland) Act 1949, which deals with commercial lease renewals for retail, food and drink, hair and beauty and wholesale tenants. They are seeking the views of agents, tenants, and landlords on whether there is still a need for the Act, and whether it should be repealed, replaced, or reformed.

Over 30 Conservative MPs have written to Chancellor Jeremy Hunt expressing concern that plans for reform are being weakened as the Leasehold and Freehold Reform Bill progresses through parliament. In particular, and despite a promise in the 2019 Conservative manifesto, it is now expected that ground rents will be capped at £250 per year instead of being cut to zero.

Following the enactment of Sections 1-6 of the Private Tenancies Act (Northern Ireland) 2022 on 1 April 2023, the Department for Communities has outlined that two further phases, Sections 8 and 10, will come into force by the end of 2024.

The Housing Minister, Lee Rowley, MP, and Philip White, Director of Building Safety for the Building Safety Regulator, have published a joint open letter to building managers addressing the issue of charges associated with managing safety in buildings over 18 metres.