NEWSFLASH: Rishi Sunak wins Tory leadership race to become Britain’s next prime minister
Penny Mordaunt pulled out of the contest to lead the Conservative Party at 2pm.
Marc da Silva
EYE NEWSFLASH: Purplebricks to make redundancies ‘across the organisation’
Purplebricks says over the course of today, staff members will be invited to a meeting to inform them whether the redundancy process affects their position.
UK housing market remains ‘steady’ despite economic uncertainty
Latest data reinforces why the property market is famed for its resilience.
Pound extends gains as Rishi Sunak poised to become new prime minister
The pound extended gains this morning after Boris Johnson dropped out of the race to be the next Conservative Party leader, and Rishi Sunak moves a step closer to Downing Street.
Landlords forced to raise rents to meet mortgage affordability criteria
A number of buy-to-let landlords will be forced to raise their rents to prevent their properties from being un-mortgageable amid increasing interest rates.
Ex-agent urgers renters to claim compensation from ‘rogue landlords and letting agents’
Letting agent Ajay Jagota has launched a free legal service aimed at tenants.
Singing estate agent makes it into the final of The Voice
Estate agent Mark Howard impressed the judges with another incredible performance.
Rent-freeze policy branded ‘meaningless’ after watchdog advises landlords to hike rents
The Scottish government freeze officially ends in March 2023 – though they have powers to extend it.
BTL landlord fined £12,400 after inspectors shut down unlicensed HMO
Inspectors found people living in shocking conditions in an overcrowded HMO.
Number of buy-to-let ‘limited companies’ surpasses 300,000 for first time
The total number of companies set up to hold buy-to-let property has doubled since 2017 and now stands at more than 300,000.
UK economic outlook downgraded to ‘negative’ by rating agency
The UK’s economic outlook has been downgraded from “stable” to “negative” by the rating agency Moody’s because of political instability and high inflation.
EYE NEWSFLASH: Rightmove appoints new CEO
Rightmove has found a replacement for Peter Brooks-Johnson - it was announced in May that he would be stepping down from the board and leave the company.
High street estate agents set for sharp rise in business rates bill
High street estate agents are expected to spend significantly more money next year in business rates.
BTL landlords must hike rents to cover costs or ‘cut their losses and sell’
The pressure is on for private landlords, and the situation is not improving.
Rents hit new record as city tenants look to downsize
It is a real challenge for renters at the moment, as there are simply not enough homes available to rent to meet the demand from people enquiring.
Comings & Goings
Snippets of property industry news: Savills announces new Private Office heads; Lawrence Stephens hires head of residential real estate; Senior promotions at Bruton Knowles
Estate agency hopes carbon offsetting offer will boost new instructions
The estate agency is offering to cover the cost of the first year of carbon offsetting for all new instructions received by the end of this month.
Estate agency window smashed as traders told to stay vigilant
An estate agency in Norwich had its windows smashed in what appears to be a mindless act of vandalism.
Property taxes continue to rise
Estate agent calls for a property tax regime 'which is fair'.
BTR market set to increase fivefold and be worth £170bn by 2032
Build to Rent has grown across the UK’s core cities and towns.