The Bank of England has held the base rate at 5.25% but two members voted for a cut – signalling that we’re getting closer to a rate cut. The base rate has been kept at its relatively high level in a bid to curb the inflation rate, which is expected to dip to 2% shortly, […] The post Base rate held at 5.25% but ‘direction of travel is downwards’ appeared first on PropertyWire ..read more

Propertymark members have urged Wales not to introduce rent controls, with the policy being blamed on cutting rental supply in Scotland. Instead, members argued that the government improve the relationship between local authorities, property agents and landlords, improve data and intelligence in the sector and provide greater support for landlords to house vulnerable and older […] The post Propertymark members urge for no rent controls in Wales appeared first on PropertyWire ..read more

One in 10 (9%) people admit they would keep quiet when selling a property with knotweed, despite the legal risks, a YouGov poll commissioned by Environet has revealed. This means that as 4,500 homebuyers could be duped into buying a home with the invasive plant. There are approximately one million residential transactions that took place […] The post Sellers keep quiet about Japanese knotweed appeared first on PropertyWire ..read more

By Samantha Kempe, co-founder and chief investment officer at IMMO The current housing crisis in the UK cannot be understated. According to government’s Department for Levelling Up, Housing and Communities, 25% of the UK housing stock is substandard, with 12% of housing conditions representing a category 1 hazard. It’s clear current strategies aren’t working. In […] The post How retrofitting can help overcome the UK rental crisis appeared first on PropertyWire ..read more

More than four in five (82%) UK tradespeople experience mental health problems due to work-related issues, research by IronmongeryDirect has revealed. It found that more than half (56%) of tradespeople experience some form of mental health problem, such as stress, anxiety or depression, every month, and sadly, more than a quarter (27%) feel symptoms every […] The post Tradespeople experiencing mental health problems appeared first on PropertyWire ..read more

Complete Technology Group (CTG) has completed Stage 2 of the Building a Safer Future (BSF) Champion Assessment, becoming the first company in the telecoms sector to do so. BSF is a non-profit organisation committed to raising standards in building safety and supporting culture change in the built environment. Its Champion status is granted to organisations […] The post Complete Technology Group becomes the first telecoms specialist to achieve BSF Champion status appeared first on PropertyWire ..read more

WeWork, once the shining light of the flex industry, has faced its fair share of highly publicised struggles in recent months, which have been watched with bated breath by landlords and fellow flex operators alike. WeWork’s finances have been pored over in the media, while headlines have been made as the company has swiftly exited […] The post As WeWork exits sites left, right and centre, how can we best migrate flex spaces between operators? appeared first on PropertyWire ..read more

Nottingham has been one of England’s worst areas for declining homeownership affordability in the past decade, analysis from moving platform Getamover.co.uk has revealed. The average price of an existing dwelling has gone from £95,500 in 2013 to £186,000 as of September 2023. Over the same period, the median annual income has increased from £25,217 to […] The post Nottingham among areas where homeownership affordability is plummeting appeared first on PropertyWire ..read more

Rents have risen by 1.6% in one month, the fourth consecutive increase, the HomeLet Rental Index has revealed. Across the country, rent has increased by 7.9% in the last year alone, and by 35.8% since pre-pandemic rates. The increases mean UK renters can now expect to pay a third of their wages (33.3%) in rent, […] The post UK rents rise for fourth consecutive month appeared first on PropertyWire ..read more

House prices are showing falls in the South of England, though growth is still positive in the North as well as Northern Ireland, Halifax’s house price index has revealed. Properties in Eastern England recorded the biggest decline of -1.1%, with homes selling for an average of £329,723, a drop of £3,541 over the last year. […] The post Halifax confirms North-South divide – with price falls down South appeared first on PropertyWire ..read more