Leasehold ban delayed as phased reform approach confirmed
A complete ban on new leasehold properties in England and Wales will not be implemented before the next general election, according to housing minister Matthew Pennycook, who has outlined a…
UK estate agency workforce drops 14% as AI adoption rises
The number of estate agents and auctioneers in the UK has fallen by 8,600 in nine months, according to employment data analysed by prime London agency Jefferies London, as the…
Four in ten letting agents unaware of rent advance restrictions
More than 40% of letting agents remain unclear about new restrictions on rent in advance payments as the Renters’ Rights Act comes into force on 1 May, according to research…
Business rates hike forces estate agents to consider job cuts
A Somerset-based estate agency has warned that a 50% increase in business rates, combined with the impact of the Renters’ Rights Act, may force the firm to make redundancies. TOR…
Assetz Capital provides £2.73m for Midlothian development
Assetz Capital has completed a £2.73 million development finance facility for the refinance and completion of Dalmahoy Farm Villas, a part-completed residential scheme in Midlothian, approximately 12 miles south west…
Pallas Capital completes £970k exit loan in five weeks
Pallas Capital has completed a £970,000 development exit loan for a residential scheme in Kibworth, Leicestershire, within a five-week timeframe. The 12-month bridging facility refinances an existing development facility and…
Saudi Arabia property market attracts early international investors
Saudi Arabia’s real estate market is drawing increased attention from international investors, family offices and regional buyers as the Kingdom transitions from a primarily domestic market to one with growing…
UK flat sales face pressure as landlord supply rises
The UK flat market is experiencing a supply-demand imbalance as landlords exit the sector ahead of upcoming rental reforms while buyer preferences shift towards houses, according to data from Hamptons.…
Dispute over eviction data emerges ahead of rental reforms
Housing Minister Matthew Pennycook has disputed claims of a surge in Section 21 evictions ahead of the Renters’ Rights Act implementation, despite industry data showing significant increases in possession instructions.…
Estate agency AI tool automates client communications
Proptech firm Street has launched Cortex, an AI-driven customer interface designed to automate client communications for estate agencies. The tool generates personalised emails to entire client databases simultaneously and processes…