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UK govt announces millions to tackle rogue landlords
Councils in the UK are to get a £5 million cash boost to tackle rogue landlords in their area, including raiding premises, it has been announced. Some 48 councils will share the funding so they can take on the irresponsible landlords that force tenants to live in squalid and dangerous properties, making their lives a misery. The cash will also allow councils to root out more ‘beds in sheds’. Since 2011 nearly 40,000 inspections have taken place in properties with over 3,000 landlords facing further enforcement action or prosecution. The funding will allow local authorities to carry out more raids, increase inspections of property, issue more statutory notices, survey more streets and to demolish sheds and prohibited buildings. Housing Minister Brandon Lewis said that the funding is part of a package of measures that will ensure millions tenants get a better deal when they rent a home. ‘Significant progress has already been made, now with £11.7 million distributed to councils to crack down on rogue landlords and d we have introduced protection for tenants against retaliatory eviction where they have a legitimate complaint and stopped landlords from serving an open-ended eviction notice at the start of a tenancy,’ he explained. ‘The measures will not hamper the vast majority of landlords who are diligent and responsible. Many private rental tenants are happy with their home and the service they receive, but there are still rogue landlords that exploit vulnerable people and force their tenants to live in overcrowded and squalid accommodation,’ he pointed out. Lewis said that the aim is not just to get rid of cowboy landlords but also to raise the quality and choice of rental accommodation across the sector. ‘The funding will ensure tenants know what level of service they can expect and have confidence to get help and take action if things go wrong,’ he pointed out. The funding to tackle rogue landlords is part of a package of proposals in the Housing and Planning Bill that includes the creation of database of rogue landlords and property agents convicted of certain offences and banning orders for the most serious and prolific offenders. Civil penalties of up to £30,000 as an alternative to prosecution will be introduced along with an extension of Rent Repayment Orders to cover illegal eviction, breach of a banning order or failure to comply with a statutory notice. There will also be a more stringent fit and proper person test for landlords of licensable properties such as Houses in Multiple Occupation and from 01 February 2016 landlords in England will have to carry out Right to Rent checks to ensure potential tenants have the right to rent property in the country. Continue reading
New home building in Australia reaches new high
New home building starts reached a new high in Australia in the third quarter of last year which is being hailed as good news for the country’s economy. The data from the Australian Bureau of Statistics (ABS) shows that they hit a quarterly record of 55,432. The high if 215,329 for the 12 months to September 2015 is some 15% up on the previous peak in 1994. ‘It is a stellar result not only for the residential construction industry, but for the wider economy. New home construction has posted one of its longest upcycles in history, providing substantial support to Australia’s economic output and levels of employment,’ said Harley Dale, chief economist of the Housing Industry Association (HIA). ‘We need a visionary outlook regarding the homes Australia has to build over the coming decades to house its growing and ageing population, while not forgetting to celebrate the fact that new home construction and its massive spinoff benefits has propped up the Australian economy at a time when no other sector has come to the party,’ he added. But there are considerable regional variations. A breakdown of the figures shows that new starts increased by 17.4% in the Northern Territory but only 2.4% in New South Wales, 1.7% in Western Australia, 1.2% in South Australia and 0.4% in ACT. At the other end of the scale new building starts fell by 20.7% in Tasmania, by 3.8% in Victoria and by 1% in Queensland, the ABS data also shows. Meanwhile, the latest housing finance figures for November 2015 show that total lending activity increased during the month, but still remains below the high point reached in August of last year. The value of investor lending increased by 0.7% in November, but was 7.7% lower than a year earlier. The value of owner occupier lending, net of refinancing was up by 1.7% and is some 22.8% higher than a year earlier. ‘This is a positive update for Australia’s housing sector, showing that lending activity remained healthy toward the end of last year. Lending activity among investors is still below what appears to be the cyclical peak back in April last year. More strength is evident in the owner occupier segment of the market, with the latest level of lending activity on par with recent highs,’ said HIA economist, Diwa Hopkins. She pointed out that the ABS figures also highlight that owner occupiers remain active in the new housing market, with the value of lending to those purchasing or constructing a new dwelling up by 0.7% during the month to 8.8% higher than a year previously. ‘These signals from housing finance are consistent with other indicators pointing to very healthy levels of activity in the residential construction sector in early 2016,’ added Hopkins. A breakdown of the figures show that new home lending to owner occupiers varied widely. It was up 96.6% in the Northern Territory, up 9.7% in… Continue reading
Prices and sales in Scotland expected to keep rising in first quarter of 2016
House prices and sales in Scotland are likely to keep rising in the first quarter of this year following an unusually buoyant December, according to a new report. The latest monthly survey from the Royal Institution of Chartered Surveyors (RICS) in Scotland said rising demand from would be buyers and a slight increase in the number of properties coming onto the market led to a rise in newly agreed sales last month. Throughout 2015, surveyors reported almost continual growth in prices and this went on into December, with a net balance of 29 per cent more respondents reporting a rise in house prices. A net balance of 35% of Scottish respondents forecast a rise in transactions in the January to March period, with 24% of surveyors also expecting average prices to increase in this quarter. ‘The Scottish housing market has experienced an unusually buoyant December, with growth in transactions, demand and a small increase in properties coming onto the market,’ said Sarah Speirs, director of RICS Scotland . ‘Despite this growth in new instructions, the chronic shortage of housing supply in Scotland continues to result in rising house prices and rents across the country. To remedy the shortage, Scottish Government policy is, and for a considerable amount of time has been, aimed at supporting demand and, more crucially, the new build market and home ownership,’ she added. RICS has launched its manifesto Shaping Scotland’s Housing Future which aims to inform political parties of the role property plays in driving Scotland’s economic growth ahead of the parliamentary elections in May. It calls on policy makers to recognise the scale of the housing crisis, and elevate housing to the top of their political priorities as well as increasing the supply of housing and taking action to maintain and renew Scotland’s existing housing stock. The report also recommends ta review of tax and incentives around all properties and the creation of a Housing Land Agency, which would work with local authorities and developers identifying land, primarily in areas of market failure, and installing any necessary infrastructure for sites. ‘Adequate housing supply is vital to economic growth and the much coveted stabilising of house prices and rents. It is estimated that between 25,000 and 35,000 homes need to be built, per year, to meet demand adequately. This target covers all tenures, not just affordable housing,’ the report says. ‘An independent agency would work with local authorities and developers by identifying new development sites and installing any necessary infrastructure for sites, primarily in areas of market failure,’ it adds. RICS envisages that land acquired by the agency, through reformed Compulsory Purchase Order (CPO) powers, could be sold to less established participants, such as small and medium enterprises (SMEs), private rented sector (PRS) investors, self-build and co-ownership and thus widening participation and assisting a vibrant SME sector and the wider economy. It also points out that the PRS market in Scotland has been dominated by small scale investments from individual landlords who… Continue reading
