What a Year

This week as the spectre of rent controls in parts of the UK continues to deepen housing crises, and several UK cities witness elevated buyer demand ahead of stamp duty changes – 2024 is certainly continuing to show right up to the end that it has been a year of profound shifts for the private rental sector. From legislative reforms to diminishing rental supply, our roundup explores the challenges shaping the rental sector.

Buyer demand rises across UK cities as stamp duty changes loom: Buyer demand has increased by around 5% across many UK cities in 2024. Sunderland leads with a 10% rise in buyer activity, followed by Leicester and Liverpool. This trend is expected to continue as the April 2025 changes approach – likely with an abrupt reduction around April.

ATTENTION LANDLORDS: Coming soon. Tired of tenancy uncertainty or the constant onslaught of regulation and risk? Wouldn’t you rather have trouble-free renting for 2-5 years at a time without any gaps in rent? Find out more here.

Continued onslaught of regulation contributing to pushing more Landlords out, and therefor reducing the number of rental properties available: The NRLA reports a 32% increase in tenants facing homelessness due to landlords selling properties – which many tenants cannot afford to buy. They urge the government to reform rental housing taxation and improve court systems to encourage landlords to remain in the private rented sector.

UTILITY OF THE WEEK. Why don’t you go Elf Yourself and your family – you’ll be glad you did!

Rent controls fuel Scotland’s housing crisis: Since Scotland first introduced rent controls in 2022, rental prices have surged – exacerbating the housing crisis according to David Alexander of DJ Alexander, who notes that prior to these controls, rent increases aligned with inflation – but post-implementation, rents have risen sharply – particularly in Edinburgh and Glasgow. This is likely making the the sector less attractive to those who provide accommodation, thereby reducing supply – meaning fierce competition between tenants over what is left.

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

Labour loosens its safeguards on licencing: From tomorrow (23rd Dec 2024), local authorities in England can implement selective landlord licensing schemes without Secretary of State approval. The Renters Reform Coalition supports this change, believing it empowers councils to address local rental issues and improve standards. However the effectiveness of licencing (as opposed to simply enforcing the rules already in place) has long been hotly disputed. The National Residential Landlords Association has criticised Labour’s decision to ease the implementation of selective licensing schemes for landlords – expressing concerns over potential duplication with existing national databases and the removal of safeguards against misuse of council licensing powers.

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Wherever you are, and whomever you’re with – we wish you a Merry Christmas and Happy New Year. Here’s to you and your family’s success in 2025.

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Song of the Week: 🎶 Christmas Time – The Darkness 🎸

And Finally… in the ever unpopular series (no refunds) of Property Christmas Cracker Jokes… What’s a property investor’s favourite chat-up line? “Are you my Landlord? Because you’re renting space in my heart.”

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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. We also offer Landlords competitive and hassle-free solutions for their property problems.