The most recent news headlines continue to reflect a housing market given renewed vigour following its release from the lockdowns of the pandemic. Here is some of the latest property news …
Government issues new Eviction Mediation guidelines to landlords
The end of lockdowns has also meant the resumption of landlords regaining possession of their property through evictions.
In an effort to ensure fairness for landlords and tenants alike in this post-pandemic period, the government has launched a new eviction mediation service, reported Landlord Today on the 1st of June.
The service is free for either landlord or tenant to use in the resolution of any dispute and mediation will be provided by an independent and entirely neutral mediator.
Access is designed to be facilitated much quicker than court action, with a hearing granted within about 10 days of the request. If both parties agree to the mediator’s proposed solution, the jointly signed agreement is submitted to the courts for approval and direction about the specific action to be taken by both parties.
The UK’s best places for eco-friendly homes and lifestyle
In an article on the 1st of June, Property Wire published the results of a recent survey identifying the most eco-friendly towns and cities in which to own or rent a home.
The survey classified the eco-friendliness of the towns and cities into three main categories – “future forward” communities combining both eco-friendly homes with a sustainable lifestyle; places with eco-friendly homes; and those offering a sustainable lifestyle.
The study looked at elements such as how many residents now eat less meat, their recycling efforts, growing their own food to how many homes have smart meters and electric car charging points as well as double glazing and extra insulation (and less common additions like biomass boilers and wind turbines).
Future forward
- towns and cities combining both eco-friendly homes within a sustainable environment put Edinburgh in first place, followed by Plymouth, Norwich, Southampton, and Cardiff;
Eco-friendly homes
- the most eco-friendly homes were found in Norwich, Cardiff, Glasgow, Liverpool, and Edinburgh (in that order); and
Sustainable lifestyles
- the most sustainable lifestyles were found in Plymouth in first place, followed by Edinburgh, Southampton, Norwich, and Nottingham.
£1bn of equity released by homeowners in ‘middle-class stampede’
The Daily Mail newspaper on the 25th of May identified what it described as a “middle-class stampede” as thousands of wealthier, older homeowners have taken advantage of the current surge in house prices by arranging equity release deals.
Unlocking the capital that has built up in their homes in this way, the homeowners achieved more than £1 billion in equity release deals during the first three months of this year – up 12.8% on the same period last year. The average amount of equity released in this way was a very healthy £103,710 – more than 25% higher than the average equity release of £83,000 during the same period last year.
House prices have risen by more than 10% in the 12 months to the end of March, according to the latest figures released by the Office for National Statistics (ONS).
Housing market on course for busiest year since global financial crisis
The current heat in the housing market is fuelled by practically unparalleled levels of demand, according to a report by the online listings website Zoopla on the 26th of May.
House hunters newly released from successive lockdowns are currently looking for more space in new homes and are encouraged in their search by the continuation of the stamp duty holiday introduced nearly a year ago now.
These factors have come together in producing an estimate of some 1.5 million housing transactions this year – a volume of activity that is a whopping 45% up on transactions completed last year.
This marks a level of activity last seen back in 2007 and will make 2021 one of the busiest years yet, says Zoopla.
