Change

Change is inevitable, whether it’s in the property market or our daily lives. In the rapidly growing Build to Rent sector, Royal London Asset Management’s acquisition of 500 flats in Bracknell and Slough highlights the need to adapt to emerging opportunities. As the stamp duty changes in 2025 approach, landlords and investors are re-evaluating their strategies, with many likely to accelerate purchases to maximise savings. Similarly, Plymouth City Council’s proactive approach to addressing housing needs reflects the broader shifts we must embrace. In an evolving market, staying agile and forward-thinking is key to long-term success and resilience.

Build to Rent. Royal London Asset Management Property has acquired 500 flats in Bracknell and Slough, marking its entry into the Build to Rent sector. The new residential management platform, ProperTies Living, will oversee operations. Targeting 8,000 units, Royal London focuses on suburban and commuter markets, with sustainability and long-term income generation for pension customers as key priorities.

Stamp Duty Changes in 2025: The temporary increase in the stamp duty nil-rate band will end in March 2025. Landlords looking to expand their portfolios may rush to buy before this deadline to save on stamp duty costs. This could lead to a spike in property transactions towards the end of 2024.

Plymouth City Council plans to spend £10m to buy homes on the open market to house local residents, including those at risk of homelessness due to private landlords selling-up. The initiative aims to reduce spending on temporary accommodation by over £1m annually. The council is also applying for a £5m grant to purchase additional homes amid a 158% rise in demand for temporary housing.

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Arrears. The National Residential Landlords’ Association (NRLA) is urging the government to prevent tenants from accumulating more rent arrears under the proposed Renters’ Rights Bill, which would allow arrears to reach three months before Landlords can serve notice. The NRLA advocates early intervention to manage arrears, maintaining housing benefits tied to market rents, and swift repossession for landlords.

Who are M2P? Married2Property are a family-run property company that aims to build social good through property.

UK house prices rose for the third consecutive month in September, increasing by 0.3%, with annual growth reaching 4.7%, the highest since November 2022. Average property prices are now £293,399. While mortgage affordability has improved, further modest growth is expected. Northern Ireland leads with a 9.7% annual price rise.

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And Finally… Christmas trees, tinsel and Santa Claus in the shops. Yep, it must almost be Halloween! Too soon?…

What do M2P do? Married2Property aims to create social good through by property – by housing more vulnerable groups of people – giving them a stable platform from which to try and improve their lot in life.