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In this month’s edition … we look at how the budget will affect the housing market, discuss new legal rights for tenants and discover Essex’s role in keeping the US on track
The property market fact file is a collection of data compiled each month by our Chartered Surveyors and the propertysurveying.co.uk team, reflecting survey data, statistics, trends and information from the property market. This provides a single place where anyone with an interest in UK property can find the information they need.
A new bill has been passed in the Commons, enabling tenants to take legal action if their private or social rented home does not meet the minimum standards required for human habitation. The bill gives tenants new rights, and closes a legal loophole allowing landlords to get away with letting out substandard property.
To increase the habitable living space, a home owner decided to convert the attic of the property, necessitating the removal of the first floor chimney breast in the process. The work was akin to that carried out by the owner of the adjoining property, and clearly came under the remit of the Party Wall Act.
“I can report to the British people that their hard work is paying off and the era of austerity finally coming to an end,” said the Chancellor, Philip Hammond, in his Autumn Budget speech, but how will the budget changes affect the property market and homeowners?
Online estate agent, Zoopla, has named the top ten priciest streets in and outside the capital. The top ten most expensive streets in Britain are all in London, although house prices have fallen by an average £4.6 million in these places.
A Leicester man has been registered as the owner of two council houses in an error. With the property market continually changing and adapting it is not surprising that mistakes sometimes happen. If you’re having any issues with property or land registry disputes, contact Property Surveying.
Rogue landlords are back in the news this month, as the law fails to prevent convicted landlords from taking advantage of vulnerable tenants. Local authorities have the tools to enforce the law and protect tenants through banning orders, fines and the new database – they just aren’t using them.
The government’s ‘housing accelerator’ and non-departmental national agency, Homes England, has published its five-year Strategic Plan which describes how the government, working in partnership with all elements of the housing industry, plans to ‘disrupt’ the housing market.
First time buyers aren’t the only group struggling to find a mortgage – think mature first time buyer remortgaging to improve a current deal or moving house, perhaps to downsize, and the estimated 1.9 million people with an interest only mortgage due for final payment.
The building of new homes in areas without sufficient transport infrastructure in place has contributed to greater car dependency, leaving non-drivers of all ages isolated, less active and facing more traffic, pollution and congestion, as well as longer commutes.
Four out of ten young adults are unable to afford even the cheapest property in their home area. There are calls from surveyors and estate agents for the government to make some ‘urgent’ changes to the system of buying and selling property, that will encourage and enable young people to get on the property ladder.
And finally …
Just a stone’s throw from the popular seaside resort of Clacton-on-Sea lies the village of Jaywick, a village not unlike many others along the Essex coast on the North Sea. Jaywick may have been recorded as the most deprived area of England, but it does have a strong sense of community – as discovered this month by a United States congressional candidate.
Written by Independent Chartered Surveyors
of the UK wide network of Property Professionals
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