Regional Round-up
September 2019
As we approach six months from the introduction of the Tenant Fee ban most agents will be settling into their new world and adjusting to the changes.
Most I speak to in our region are finding it tough - but are surviving - and report a noticeable increase in rents which was supported by the ARLA Propertymark PRS report in July which saw the highest reported percentage on record.
The market had a slow start this year with string activity in May followed by a slump in income for June…surprisingly!? The Summer market has been traditionally buoyant in most of our region and whilst buy-to-let investors still seem a little reluctant there remains an air of positivity on what our future holds where the best will survive and thrive.
So what’s next, well, we now need to be keeping a keen eye on the potential abolishment of the Section 21 notice which, as confirmed in a Government announcement back in July, looks highly likely. There remain a number of questions and concerns, primarily over the proposed amendments to the Section 8 notice (the notice that will be relied on for possession) and some assurance that mandatory grounds such as rent arrears, anti-social behaviour or wanting to sell would be included. ARLA Propertymark has been very vocal on this so keep an eye on the main content on this site for updates.
Have you read the ROPA report? If not you need to be aware of it. Propertymark has been pushing for the industry to be licensed for some time and it now looks likely based on the findings and gives a great opportunity to stamp out bad practice and raise standards in our industry. It also highlights the need for qualification, so if you are not already you may want to consider taking the plunge now!
Finally a plea for members! The Oxfordshire and Berkshire region is well supported and one of the largest outside of London but we are always keen to welcome new members so if you know of anyone please do encourage them to join.
Greg Barnes FARLA, MNAEA
ARLA Propertymark Regional Representative