Property Newsletter 17th Feb 2025
Prosper Esin Property
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PRICE GROWTH SLOWS AS STAMP DUTY DEADLINE LOOMS, BUT ACTIVITY REMAINS ROBUST
After a fast start to the year which saw average asking prices rise by more than usual, February’s price increase is more subdued, below the longer-term average of +0.8%. This month’s lower price trend appears to be both a proactive measure, recognising higher costs for some buyers with England’s looming stamp duty deadline at the end of March, and a reaction to the record number of sellers who came to market early in 2025. The average number of available homes for sale per estate agency branch continues to run at a 10-year high, reducing sellers’ pricing power.
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Source Rightmove House Price Index.
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LANDLORD EXODUS WILL SEE SECTION 21 CLAIMS HIT RECORD HIGH
Section 21 claims are set to hit unprecedented levels in 2025 as landlords race to regain possession of their properties before the Renters’ Rights Bill sees this eviction route banned. The warning comes from Paul Shamplina, the founder of Landlord Action, in response to the latest landlord possession figures released by the Ministry of Justice. He points to landlords rushing to regain possession before the ban takes effect, court delays spiralling, and local authorities coming under huge pressure. Mr Shamplina says the private rented sector is facing a crisis.
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Source: https://www.property118.com/
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RENTERS’ RIGHTS BILL WILL FAIL WITHOUT PROPER PLAN FOR ENFORCEMENT
That’s the warning from the body representing responsible landlords as Peers prepare to debate the details of the Renters’ Rights Bill. The Bill includes major changes which councils will need to enforce. This includes a decent homes standard for the sector, measures to tackle dangerous damp and mould in homes, and the development of a new database of private rented housing. In a report published on 12th February 2025 the National Residential Landlords Association (NRLA) points to the pressures councils are already under even before the Bill is implemented. The NRLA is warning that councils will struggle to provide the time, focus or resources needed to enforce the Bill and tackle the minority of landlords bringing the sector into disrepute.
Source NRLA
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NEXT UK INFLATION FIGURES
In the UK, the main measure of inflation is the Consumer Prices Index. The Office for National Statistics (ONS) releases this once a month. Each reading covers the previous month. There was a surprise drop in the rate of UK inflation in December. The Consumer Prices Index (CPI) rose by 2.5% on an annual basis, down from 2.6% in November. With the next CPI report due on Wednesday, 19 February, what can households, savers and investors expect?
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Source: https://moneyweek.com/
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