East Midlands - Derbyshire, Nottinghamshire and Lincolnshire Regional Meetings

  • Belton Woods, NG32 2LN - Wednesday 15th January 2020 12:00 - 15:00
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  • East Midlands TBC - Wednesday 23rd September 2020 12:00 - 15:00
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Free for Members

Meetings are open to everyone however booking is essential as spaces are limited. For non-members it's £15.00 +VAT to attend.

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Nicol Nightingale

January 2019

Many working in property will tell you it feels like the industry is constantly under attack. While it is well documented that we’re currently experiencing a housing crisis in the UK with an unmet need for rental housing, (The Resolution Foundation predicted earlier this year that one in three British millennials will never own their own home!), it seems on a regular basis new challenges are coming from all sides.

“Investor Landlords” were the first casualties, with the additional three per cent stamp duty on buy to let properties in 2016, followed by the attack on landlord profits with the introduction of Section 24 in 2017, the phased reduction on tax relief on mortgaged properties. This made life increasingly difficult for smaller investor landlords and in many parts of the country they’re selling up.

The latest budget turned its attention to “Accidental Landlords” who found themselves renting a home they previously lived in due to a change in circumstances. Currently “Accidental Landlords” looking to sell pay Capital Gains Tax on financial gains made on the property minus private residence relief, which is applicable for the time the landlord lived in the property and the final 18 months of ownership, but from April 2020 this is reducing to just 9 months.

In a double whammy, at the same time Lettings Relief, providing up to £40,000 tax relief (or £80,000 for a couple) to those renting out a home they previously lived in, is being abolished for all landlords, except those sharing occupancy of the property with a tenant.

However, it isn’t all doom and gloom, here in the East Midlands the property market is holding its own, with positive figures on both the sales and lettings front.

Hometrack recently reported that whilst house prices in London decreased by 0.4 per cent in the last year, Leicester saw the highest price growth at a staggering 7.7 per cent and Nottingham came in fifth at a healthy 6.1 per cent.

On the rental side, landlords in the region saw average rents increase by 1.6 per cent, and rents are likely to increase further as an “unintended consequence” of the imminent tenant fee ban.

Nicol Nightingale MARLA
ARLA Propertymark Regional Representative

South West

Regional Conferences

We host a series of conferences throughout the UK. Keep up with legislative changes, take part in expert led workshops and network with like-minded professionals. Find out if there's a conference happening in your area.

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