Latest news with #RentersReformBill
Yahoo
24-02-2025
- Business
- Yahoo
Landlord home purchases fall to record low ahead of Labour rent reforms
The proportion of homes purchased by landlords has fallen to a record low ahead of radical rent reforms brought in by Labour, data shows. Landlords were behind 9.6pc of house sales in January, according to a new report by estate agents Hamptons. It is the first time the proportion has dropped out of double digits since Hamptons' records began in 2009 – beating the previous low of 10.6pc in January 2020. The data comes as the Government aims to ban so-called no-fault evictions next year as part of its Renters' Rights Bill, which will also make it harder for landlords to increase rents. There are 39pc fewer homes available for rent than there were in January 2019, with London seeing a decrease of nearly half, Hamptons said. The capital has also seen the biggest fall in the proportion of homes being bought by landlords, making up 7pc of purchases in January. But Scotland recorded the lowest total, with 4.6pc of homes bought by landlords. The Renters' Rights Bill, which is being spearheaded by Angela Rayner, the Housing Secretary, is set to become law by next summer. It was designed in response to the Conservative government's Renters Reform Bill which did not pass into law before Parliament was dissolved. Both pieces of legislature sought to ban Section 21 notices – also known as no-fault evictions – which will make it harder for landlords to take their properties back from tenants. Campaigners previously warned that the 'war on landlords' would cause investors to sell up, reducing the supply of rental homes and pushing up prices for renters. Over the last five years, rents on newly let homes have jumped by a third, Hamptons said, with an average 26.5pc increase for those renewing contracts. Aneisha Beveridge, of Hamptons, said: 'The pace of rental growth nationally has likely bottomed out. New purchases by landlords have been depressed by increases in stamp duty rates towards the end of last year and the prospect of tighter regulation in the form of the Renters' Rights Bill. 'While purchases by landlords haven't completely dried up, it's looking like higher stamp duty rates have reduced the share of homes sold to landlords by between 10pc and 20pc.' Private rents increased by 8.7pc in the 12 months to January 2025, according to the Office for National Statistics, a slight drop from the 9pc increase in the year to December 2024. Nathan Emerson, chief executive of Propertymark, said: 'It is concerning that more is not being done to make the private rental sector more attractive for current and future landlords. 'The dwindling supply of properties against a backdrop of ever-increasing demand from tenants is making it difficult for aspiring renters to find a home.' Mr Emerson said: 'This is all in response to the continuous bombardment of costs placed on landlords, including rising taxes and regulations.' Data from the HM Courts & Tribunals Service showed that evictions were at their highest level since records began in 2009, as landlords rushed to get rid of tenants before the new rules were introduced. During Labour's first three months in power, 7,781 tenants were evicted. The number of successful no-fault evictions soared 20.3pc in England between 2023 and 2024 to their highest tally since 2017. Possession claims also jumped in 2024, ahead of the passing of the Renters' Rights Bill, hitting more than 30,000 for the first time. The Ministry of Housing spokesman said: 'The private rented sector has doubled in size since the early 2000s and our Renters' Rights Bill will support both tenants and good landlords who provide an important and high-quality service. It will set clear, fair standards and give these landlords the confidence and certainty to continue operating. 'This is alongside our major plans to get Britain building again by overhauling the planning system and delivering 1.5 million homes, including the biggest boost in affordable housing in a generation - bringing the dream of home ownership closer to a reality for working people and families across the country.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
24-02-2025
- Business
- Telegraph
Landlord home purchases fall to record low ahead of Labour rent reforms
The proportion of homes purchased by landlords has fallen to a record low ahead of radical rent reforms brought in by Labour, data shows. Landlords were behind 9.6pc of house sales in January, according to a new report by estate agents Hamptons. It is the first time the proportion has dropped out of double digits since Hamptons' records began in 2009 – beating the previous low of 10.6pc in January 2020. The data comes as the Government aims to ban so-called no-fault evictions next year as part of its Renters' Rights Bill, which will also make it harder for landlords to increase rents. There are 39pc fewer homes available for rent than there were in January 2019, with London seeing a decrease of nearly half, Hamptons said. The capital has also seen the biggest fall in the proportion of homes being bought by landlords, making up 7pc of purchases in January. But Scotland recorded the lowest total, with 4.6pc of homes bought by landlords. The Renters' Rights Bill, which is being spearheaded by Angela Rayner, the Housing Secretary, is set to become law by next summer. It was designed in response to the Conservative government's Renters Reform Bill which did not pass into law before Parliament was dissolved. Both pieces of legislature sought to ban Section 21 notices – also known as no-fault evictions – which will make it harder for landlords to take their properties back from tenants. Campaigners previously warned that the 'war on landlords' would cause investors to sell up, reducing the supply of rental homes and pushing up prices for renters. Over the last five years, rents on newly let homes have jumped by a third, Hamptons said, with an average 26.5pc increase for those renewing contracts. Aneisha Beveridge, of Hamptons, said: 'The pace of rental growth nationally has likely bottomed out. New purchases by landlords have been depressed by increases in stamp duty rates towards the end of last year and the prospect of tighter regulation in the form of the Renters' Rights Bill. 'While purchases by landlords haven't completely dried up, it's looking like higher stamp duty rates have reduced the share of homes sold to landlords by between 10pc and 20pc.' Private rents increased by 8.7pc in the 12 months to January 2025, according to the Office for National Statistics, a slight drop from the 9pc increase in the year to December 2024. Nathan Emerson, chief executive of Propertymark, said: 'It is concerning that more is not being done to make the private rental sector more attractive for current and future landlords. 'The dwindling supply of properties against a backdrop of ever-increasing demand from tenants is making it difficult for aspiring renters to find a home.' Mr Emerson said: 'This is all in response to the continuous bombardment of costs placed on landlords, including rising taxes and regulations.' Data from the HM Courts & Tribunals Service showed that evictions were at their highest level since records began in 2009, as landlords rushed to get rid of tenants before the new rules were introduced. During Labour's first three months in power, 7,781 tenants were evicted. The number of successful no-fault evictions soared 20.3pc in England between 2023 and 2024 to their highest tally since 2017. Possession claims also jumped in 2024, ahead of the passing of the Renters' Rights Bill, hitting more than 30,000 for the first time. The Ministry of Housing was contacted for comment.
Yahoo
14-02-2025
- Politics
- Yahoo
'Housing crisis means I can't use my own bathroom'
A woman with arthritis says demand for housing in the private rental sector is so high she has no option but to live in a flat with a bath she cannot use. Karen Bray said she had to downsize from a house to a small flat in North Shields after a no-fault eviction, and had struggled to find a more accessible home she could afford. She is urging the government to deal with the rising cost of private rents and a lack of choice for people with mobility issues. The government declined to comment on Ms Bray's case but said its Affordable Homes Programme aimed to create 5,000 affordable and social homes in North Tyneside. Ms Bray said the bath was not big enough. "I have to pay to use showers at leisure centres because I can't use the bath here." She added the flat was affecting her mental health. "It's a bit like a game," she said. "You have to move one thing to get to another." Ms Bray said her bedroom was like a "glorified passage to the back door", with her living room being part of her kitchen. She said she was grateful she did not have to share a room with her teenager or sleep in the living room, but added: "There's no doubt that there are more suitable properties out there that are empty." Housing charity Shelter said Ms Bray's case was not unusual. North East strategic lead Tracy Guy said: "We're seeing an 8.9% increase in rents in the last year, coupled with huge waiting lists for social housing." Mrs Guy said people on benefits or low incomes could not get a private rent in Newcastle. "It's just inaccessible, the rents are too high," she said. Shelter hopes the Renters Reform Bill, which is currently going through Parliament, will be a "once-in-a-generation opportunity to overhaul the private renting sector". The bill proposes scrapping section 21 'no fault' evictions and introducing more fairness to the system. A government spokesperson said: "We are urgently using all levers available to build the homes we need so more families can get on the housing ladder. "We're sweeping aside the blockers to get houses built, and paving the way for the next generation of new towns." They added the government was spending an extra £800m on the existing Affordable Homes Programme to help deliver tens of thousands of new affordable and social homes across the country. Follow BBC North East on X, Facebook, Nextdoor and Instagram. Send your story ideas here. Work on new towns to begin by 2029, minister says How empty homes could help tackle housing shortage Shelter Crisis
BBC News
14-02-2025
- Politics
- BBC News
North Shields woman cannot use own bath due to housing crisis
A woman with arthritis says demand for housing in the private rental sector is so high she has no option but to live in a flat with a bath she cannot use. Karen Bray said she had to downsize from a house to a small flat in North Shields after a no-fault eviction, and had struggled to find a more accessible home she could is urging the government to deal with the rising cost of private rents and a lack of choice for people with mobility government declined to comment on Ms Bray's case but said its Affordable Homes Programme aimed to create 5,000 affordable and social homes in North Tyneside. Ms Bray said the bath was not big enough."I have to pay to use showers at leisure centres because I can't use the bath here." She added the flat was affecting her mental health. "It's a bit like a game," she said. "You have to move one thing to get to another." Ms Bray said her bedroom was like a "glorified passage to the back door", with her living room being part of her kitchen. She said she was grateful she did not have to share a room with her teenager or sleep in the living room, but added: "There's no doubt that there are more suitable properties out there that are empty." Housing charity Shelter said Ms Bray's case was not East strategic lead Tracy Guy said: "We're seeing an 8.9% increase in rents in the last year, coupled with huge waiting lists for social housing." Mrs Guy said people on benefits or low incomes could not get a private rent in Newcastle. "It's just inaccessible, the rents are too high," she hopes the Renters Reform Bill, which is currently going through Parliament, will be a "once-in-a-generation opportunity to overhaul the private renting sector".The bill proposes scrapping section 21 'no fault' evictions and introducing more fairness to the system. A government spokesperson said: "We are urgently using all levers available to build the homes we need so more families can get on the housing ladder. "We're sweeping aside the blockers to get houses built, and paving the way for the next generation of new towns."They added the government was spending an extra £800m on the existing Affordable Homes Programme to help deliver tens of thousands of new affordable and social homes across the country. Follow BBC North East on X, Facebook, Nextdoor and Instagram. Send your story ideas here.
Yahoo
14-02-2025
- Business
- Yahoo
Labour's war on landlords triggers record wave of evictions
Eviction claims by private landlords have reached a record high as owners race to reclaim their properties ahead of Labour's rental reforms. The Government aims to ban 'no-fault' evictions next year as part of its Renters' Rights Bill, which will also make it harder for landlords to increase rents. The move has sparked panic among property investors, with the number of possession claims by private landlords surpassing 30,000 for the first time ever in 2024. The data, from HM Courts & Tribunals Service, also shows that during Labour's first three months in power, the number of claims by private landlords hit 7,781 – their highest quarterly total since records began in 2009. The Renters' Rights Bill, which is being spearheaded by housing secretary, Angela Rayner, is set to become law by this summer. It was designed in response to the Conservative government's Renters Reform Bill which did not pass into law before Parliament was dissolved. Both pieces of legislature sought to ban so-called 'no-fault' evictions which aim to make it harder for landlords to take their properties back from tenants. The number of successful 'no-fault' evictions soared 20.3pc in England between 2023 and 2024 to their highest tally since 2017. Landlords can apply for a possession order if the tenant has broken the terms of the rental agreement. This could be the result of excessive arrears, causing damage to the property or engaging in anti-social behaviour. Most successful actions in court used to result in a suspended order, where the judge rules the tenant can remain under certain conditions. But outright orders – which impose a date when the home must be vacated, usually between 2 weeks and a month of the hearing – have surged. They have become more common every year from 2006 onwards, and since the pandemic, they make up roughly eight in 10 of all orders. 58,932 were issued by county courts in Britain in 2024, the highest annual total since 2017. Only when such orders aren't respected can private landlords apply for bailiffs to evict the tenant. This occurred 9,012 times in England last year – more than any other year going back to 2000. Again, the surge came just after Sir Keir Starmer entered Number 10. The 2,373 evictions between July and September 2024 topped any other quarter on record. But landlords also currently have recourse to Section 21 of the Housing Act 1988, which allows them to push for an earlier move-out date without having to supply a reason. When such notices are valid and the date isn't respected, they can apply for accelerated possession orders which can see forced eviction through much quicker. English courts received 32,287 accelerated procedure claims by landlords in 2024, more than during any other year since 2016. These resulted in 11,373 evictions. Average asking rents hit £1,369 in England by the end of 2024 – having risen by an all-time record high 9.3pc over the year to November, according to the Office for National Statistics (ONS). But in the capital, just under a year since they crossed £2,000 for the first time, the equivalent increase was 11.6pc, pushing the average to £2,220. Of the top 10 local authorities where the rate of private landlord possession claims were highest, seven were in London. Waltham Forrest led the way with 762 per 100,000 households. Asking rents in the borough of Brent soared 26.9pc last year, more than anywhere else in the country. The rate of claims there (225 per 100,000) was almost double the average across all councils (120). A Ministry of Housing Communities and Local Government spokesman said: 'We are transforming a housing system, which has left millions of renters trapped under the constant fear of a Section 21 eviction coming through the door. 'Our Renters' Rights Bill will soon become law, putting an end to no-fault evictions, giving tenants greater security in their homes whilst empowering them to rightfully challenge unfair rent hikes and poor conditions.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
