Property News — 1st February 2021
Here we are again, already hurtling through the year as we head in to February. This week’s property round up has stories on a new property regeneration scheme, a letting agency that is putting people before money and news on how Brexit is having an effect on the property market.
Let’s get stuck in…
The letting agency where benefits aren’t a problem
Being on benefits can be tough for a whole host of reasons but if you’re looking for a new place, then it can be extremely difficult. However, The Guardian reported a great story this week highlighting the good work agency Homes for Good have done for people on low incomes. The Homes for Good group manages 500 properties with over 800 tenants. They don’t only manage properties suitable for those on low income but they also help tenants with benefits claims, help them access any essential services they may need and provide guidance on getting back to work. Read more about how this company is helping renters and trying to build a better society here.
Brexit has slashed the number of overseas firms owning properties
The results of the uncertainty surrounding Brexit is starting to show, particularly in London. The number of properties owned by overseas firms in England and Wales have dropped by 4,000 since the EU referendum according to a study by Search Acumen, a property data insight and technology provider. The research shows there has been a an increase in the number of properties registered to companies in Jersey, Guernsey, Luxembourg, Singapore and the Netherlands post referendum.
Andy Sommerville, director at Search Acumen, said: “This research reveals the scale of the impact that Brexit-induced uncertainty has had on international demand for properties in England and Wales. Heightened unease over the nature of the post-Brexit transition relationship may have prompted investors to look beyond England and Wales for returns.”
Two-thirds of homes will be unsaleable by 2028
If you own an energy inefficient home then now may be the time to act otherwise you could find your property is unsellable and unlettable.
The Climate Change Committee, which advises the UK government on how to achieve its net zero carbon emissions target by 2050, has found that UK homes are responsible for 15% of UK greenhouse gas emissions. With this in mind, it’s recommended that all homes should have an Energy Performance Certificate rating of C from 2028.
There are currently about 29 million homes in the UK, of which 19 million have an EPC lower than C according to the CCC’s figures.
Home owners can make changes to improve their rating such as ensuring adequate insulation, installing double or triple glazing, draught proofing and making sure water tanks are insulated.
‘Right to Regenerate’ to turn derelict buildings into homes and community assets
The public will be able to convert vacant plots of land and derelict buildings into new homes or community spaces, under plans announced by the Housing Secretary, Robert Jenrick MP.
The ‘Right to Regenerate’ proposals would make it easier to challenge councils and other public organisations to release land for redevelopment — helping communities make better use of public land and give a new lease of life to unloved buildings.
Underused public land could be sold to individuals or communities by default, unless there is a compelling reason the owner should hold onto it.
Under the proposals, public bodies would need to have clear plans for land in the near future, even if only a temporary use before later development — if the land is kept for too long without being used, they would be required to sell it.
These measures provide an opportunity for the public and local communities to redevelop and transform eyesores, taking control of unused local land or buildings and transforming them into something they want in their area.
This builds on the government’s drive to encourage development on brownfield land and more beautiful buildings that are in line with local preferences.
Housing Secretary Rt Hon Robert Jenrick MP said:
Right to Regenerate is the simple way to turn public land into public good, with land sold by default, unless there is a very compelling reason not to do so.
We are cutting through red tape so that communities can make better use of available land and derelict buildings, which means more new homes, businesses and community assets.
Millions of people will now be able to buy that empty property, unused garage or parcel of land and turn it into something good for them and their community.
Property of the week: A home with your very own organ
This is a bit of a strange one but we can’t help but love it. The property which is in Clifton Wood, Bristol and priced at £500,000 comes with its very own organ.
The property in question comprises of four bedrooms, two receptions, kitchen, bathroom, outbuildings and a workshop to the rear of the garden. It’s been in the same family for decades but one twist on the property is that it includes a full organ with podium.
The property is on the market with Allen & Harris Clifton.
Take a look…
