The Property Market Monthly Fact File – June 2014

fowey hall foweyThe property market fact file is a collection of data compiled each month by our Chartered Surveyors and the PropertySurveying.co.uk team; collating survey data, statistics, trends and information from the property market. This aims to help many persons with an interest in property gain an accurate view of what is happening in the UK property market as a whole.
To read the monthly fact file, click here.

Estate Agents could face prison sentence

Caveat Emptor to disappear as sellers face imprisonment for not disclosing information that may affect the decision of any potential buyers.

Serious consequences may result if an estate agent fails to disclose any information which is later discovered by the buyer, with a prison sentence of 2 years being possible. If the seller is at fault for not disclosing the information to the agent, the same punishment may be enforced.

Sellers and estate agents are now required to inform any prospective purchasers of any information that may affect the value of the house. This can include any structural defects and / or information about previous sales that fell through. As … Continue reading

Two ‘significant’ findings in Housing Association Court Case lead to eviction

Temp. Ref. Akerman-Livingstone v Aster Communities [2013]

In a ‘significant’ decision for Housing Associations across the country, the High Court, presiding over an appeal, has made two important findings:

–          That it should not interfere with a housing association’s eviction of a tenant under a contractual relationship with a local authority.
–          That it was proportionate to end a duty to house a tenant with a serious medical condition, where they had rejected alternative accommodation.

We explore the details of this case, and the morality behind it, in a recent article here…

Are you one of the est. 1,400,000 landlords not paying their full tax liability?

HMRC wants property landlords to declare all property income and capital gains and to pay what’s due to the government before the January deadline. For the UK’s 500,000 landlords already registered with HMRC this is business as usual. But estimates put the real number of landlords at between 1.4-1.9 million.

Why the big deficit and what tax mistakes are all too common? Read on here

Worthing Council takes back Car Parks but faces £600,000 law suit

worthingsurveyor.co.uk – After a ten year agreement with NCP that had handled all of Worthing’s car parks, Worthing Council has now ended the relationship and seeks to gain back control.

It claimed that parking prices had “more than doubled” since NCP took on the contract in 2003, but annual parking revenue for the council only increased from £880,000 to £1m in that time. NCP are suing for alleged breach of contract to the tune of £600,000.

 

A Property Owning Democracy?

What was Thatcher’s True Property Legacy?

On the day of her public funeral, we issued a special, single-article edition of our newsletter, analysing through editorial comment the legacy the late Baroness Thatcher leaves to the UK property market.

Baroness Margaret Thatcher’s death has prompted vigorous debate on the matter of her controversial political legacy. In the wake of the passing of a woman described as “the most admired, most hated, most idolised and most vilified public figure of the second half of the 20th century”, we analyse the indelible mark she left on the British property market…

Read the rest of this popular article at this link.

RICS research highlights surprising level of unpredicted repair costs for buyers without a survey

PropertySurveying.co.uk

According to new research by RICS, over a fifth of home buyers who did not take out a pre-purchase survey are in a property they would never have bought had they been aware of its true condition before purchase.

The recently released results of the Royal Institution of Chartered Surveyor’s survey of home buying consumers show that homeowners who did not get a survey are lumped with an average of £5750 in repair bills – matters that would have been highlighted before exchange of contracts by a competent Chartered Surveyor.

Read the rest here…

Mold development put on hold by flood risk assessment

moldsurveyors.co.uk – A long delay in assessing the flood risk of a reservoir in Greenfield, near Mold, is claimed by a local property developer to be putting homes and lives at risk.

The flooding risk of Flour Mill Reservoir must be determined, before work on eight new townhouses can begin. The Environment Agency instructed Flintshire County Council to complete an inundation map, but this has still not been done, despite a deadline of December 31, 2012.

If you are a developer in the Mold area, or elsewhere in England and Wales, contact your local surveyor to help navigate these difficult issues and ask them about how they can help elsewhere in the development.