Are the dark clouds which have been impacting the property investing outlook and landlord sentiment in recent years, finally lifting, given a series of announcements over
recent weeks?
As we put this November edition to print, some welcome news is apparently to be revealed by the Government regarding the latest official UK monthly inflation data, which should be confirmed by the time you read this column. And of late we are increasingly hearing market analyst forecasts that we have reached the peak in the interest rate cycle, which is of course a key reason why inflation is now easing.
For property landlords, the last few months has seen a number of announcements by central government which should allay the fears of many portfolio landlords, as well as many who work in the Privte Rented Sector, well at least for now.
Following the announcement that energy efficiency targets within rental homes are being rethought, the news that the abolition of Section 21 notices is being linked to the reform of the courts is also welcome. And in addition, some common sense is to be applied to student letting contacts. On page 26 Richard Blanco gives more details.
All this is welcome news for landlords in the Private Rented Sector, and yet another positive announcement just a few weeks ago, was government stating that the council tax banding of HMOs, with many rooms being classed as a single dwelling, is to be scrapped. Massive credit to those in the landlord community who fought hard and long to get this result on behalf of all HMO landlords.
Turning to the contents of this November edition, after some hesitation we’ve joined the publicity bandwagon and peered into a crystal ball to give our thoughts on page 15 about the brave new world that Artificial Intelligence (AI) will bring to us all.
This month’s investor interview is with Jess Leader, who was totally transparent in explaining to me all about her latest HMO property project, whilst also giving some very helpful tips to help other landlords.
As I conclude this column, new data from Paragon Bank affirms the ongoing crisis for many tenants as rents are soaring, with affordability related to wages becoming difficult for many, particularly in the London area. This is as many of us know a direct consequence of poor policy decision making by the Government in the last decade.
You reap what you sow…
