Author: Benjamin

[openai_chatbot] rewrite this content and keep HTML tags as is: The government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms, which include a new Fast Track Process, changes to leadership and fresh investment, pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower inquiry. Andy Roe, former commissioner of London Fire Brigade, has been appointed as non-executive chair of a new board of the Ministry of Housing, Communities and Local Government (MHCLG) to take on the functions of…

[openai_chatbot] rewrite this content and keep HTML tags as is: A year after the Leasehold and Freehold Reform Act (LAFRA) appeared on the Statute Books, the Leasehold and Freehold Reform Bill last year has failed to create greater certainty in the market. A new survey of property professionals reveals that while reform remains welcome in principle, confusion and delay have left leaseholders, freeholders and their advisers in limbo. ALEP (the Association of Leasehold Enfranchisement Practitioners), whose members include barristers, solicitors, project managers and valuers in leasehold enfranchisement, reports that the LAFRA has not yet made the process of extending a…

[openai_chatbot] rewrite this content and keep HTML tags as is: Mortgage rates have increased for the first time in six months, fresh data released yesterday by the Bank of England revealed. Mortgage approvals for residential property purchases increased by 2,400 to 63,000 in May, while approvals for remortgaging also increased in May, by 6,200 to 41,500. This was the first rise since last year and the largest hike since February 2024. In addition, the data revealed that net borrowing of mortgage debt by individuals increased by £2.8bn to £2.1bn in May. Meanwhile, the annual growth rate for net mortgage lending…

[openai_chatbot] rewrite this content and keep HTML tags as is: The Annual rate of house price growth slowed to 2.1% in June, from 3.5% in May, Nationwide’s latest House Price Index reveals. Northern Ireland remained the top performing area, with annual house price growth of 9.7. East Anglia was the weakest performing region, with 1.1% year-on-year rise. Headlines Jun-25 May-25 Monthly Index* 537.3 541.6 Monthly Change* -0.8% 0.4% Annual Change 2.1% 3.5% Average Price (not seasonally adjusted) £271,619 £273,427 * Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are re-estimated) Robert Gardner, Nationwide’s Chief…

[openai_chatbot] rewrite this content and keep HTML tags as is: The Renters’ Rights Bill returns to the House of Lords today for the first of three Report stage debates. Further sittings of the Bill, which recently completed its Committee Stage in the House of Lords, are schedules for the 7 and 15 July, but it looks increasingly unlikely that the bill will receive Royal Assent ahead of the summer recess, which will run from 22 July to 1 September. Consequently, the Bill will likely become law in September, with implementation expected to begin towards the end of this year or…

[openai_chatbot] rewrite this content and keep HTML tags as is: CBRE has been named as one of the 50 employers in The Times Top 50 Employers for Gender Equality. The global real estate advisor becomes the first property firm in the UK to be recognised for demonstrating its commitment to embedding gender equality into all levels of our organisations, encouraging others to follow suit. Business in the Community (BITC), The King’s Responsible Business Network, has announced The Times Top 50 Employers for Gender Equality 2025. The Times Top 50 Employers for Gender Equality is the UK’s most well-established and highly…

[openai_chatbot] rewrite this content and keep HTML tags as is: The latest research from Savills shows that price sensitivity has spread to the UK’s prime regional markets, providing a notable opportunity for savvy purchasers. Meanwhile, prices in the prime markets of central London are now 22.4% below their 2014 peak in a market where tax changes have changed the profile of demand.   Q1 2025 vs Q2 2025 Q2 2024 vs Q2 2025 Prime Central London -1.5% -3.7% Outer Prime London -0.5% 0.0% Prime Regional -1.9% -2.7% Source: Savills prime index, Q2 2025 Values of prime properties outside of the…

[openai_chatbot] rewrite this content and keep HTML tags as is: Around 3.5 million households who might have expected to buy a home since the financial crisis are still waiting to enter the market – held back by unnecessary barriers rather than the ability to meet mortgage payments. That is according to the Intermediary Mortgage Lenders Association (IMLA), which has updated its The Mortgage Affordability Paradox report, first published in 2021. The IMLA examined the conundrum that, despite years of ultra-low interest rates, first-time buyer numbers had failed to recover since the financial crisis. In 2021 it concluded at the time…

[openai_chatbot] rewrite this content and keep HTML tags as is: Residential property price growth has dropped as buyers have a growing choice of homes for sale, Zoopla’s latest House Price Index has revealed. UK house price inflation has slowed to 1.4%, down from 2% earlier this year with home values falling in parts of London and southern England. The average UK house price is £268,400, which is £3,960 higher than a year ago. According to the data, the average estate agent has 37 homes for sale, compared to 32 last year. More sellers means more buyers, which is supporting a…

[openai_chatbot] rewrite this content and keep HTML tags as is: Knight Frank announces new Henley office head Matt Davies Knight Frank has appointed Matt Davies as office head in the firm’s Henley-on-Thames office, effective from tomorrow. After leading the office since 2018, Nick Warner has made the decision to step down from this role. He has over 30 years of experience managing offices for national estate agencies. He remains fully committed to Knight Frank’s prime and super prime country house market and will continue to play an integral part in the business. Davies brings extensive experience and deep market knowledge…