The Renters (Reform) Bill is a major piece of legislation designed to rebalance the relationship between landlords and tenants. First introduced in 2023, it’s currently making its way through Parliament and is expected to become law in late 2025 or early 2026.
The average asking price for properties listed for sale has reached an all-time high of £375,131, marking a 0.8% increase (+£2,807) this month. This rise is attributed to the ongoing momentum of the Spring selling season, which is putting slight upward pressure on prices.
Peterborough City Council has given the green light to a new licensing initiative designed to elevate standards in the private rented sector. This selective licensing scheme will be implemented in areas with significant levels of privately rented accommodations.
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The Renters ‘Reform’ Bill has been introduced in Parliament on 17th May 2023, bringing changes to the rental market. This new law is designed to make things easier, safer and fairer for people who rent their homes. It outlines plans to terminate section 21 and for periodic tenancies to become standard.
As of March 2023, the average price of properties entering the market has only increased by 0.2% (+£890), which is lower than the usual average of 1.2% for this time of year.
Peterborough has a high demand for rental and rent prices continues to increase, this means it is a very popular location for buy to rent investors.
Since 2020, legal requirements for electrical safety in private rented properties have been in place to safeguard tenants from electrical hazards.This means that in order for any property to be rented, it must have a valid Electrical Installation Condition Report (EICR)
Maximise your properties true value and potential.
How to make your home increase in value and sell swiftly. Having your property prepared and ready for viewings is so crucial to ensure your home will be sold swiftly and increase your home’s value.
Any property being sold, let, or constructed will need an EPC, as per the Energy Performance of Building Regulations 2012. EPCs are produced by qualified energy assessors and based on reduced data standard assessment procedure (RdSAP).
House prices are still rising with high demand and low supply, and it’s unclear if the market is expected to slow down.
Renting out your home is probably one of the smartest financial decisions you will ever make. No matter the status of the housing market, there will always be a demand for rental properties.
House prices rose at the fastest pace in the last three months up to February 2020.
