The Northern Powerhouse is set to receive a funding boost to build more homes, while Birmingham and Manchester’s property markets are predicted to be the top performers over the coming years. We also dispel the myths surrounding tenant evictions, and landlords are warned to get to grips with new HMO rules coming into effect this year. Here are seven things you might have missed this week…
1. Northern Powerhouse gets £8.9m investment boost to build new housing
The government is using its Land Release Fund to invest £8.9m in the north of England to support the construction of more than 2,000 new homes in a bid to try and tackle the housing shortage.
2. ‘Evicted for no reason’: the truth behind Section 21 notices
Last week, BBC One aired a Panorama documentary examining unfair treatment of tenants by landlords, with interviews with renters who had been evicted through what was described as “no-fault” evictions. But what are the rules behind Section 21?
3. Belfast to champion its position as major investment city at MIPIM event
Belfast’s recent growth, given a boost by promises in the Autumn Budget for a Belfast City Deal worth up to a reported £1bn, is set to be further showcased at the upcoming MIPIM international property show with the city’s biggest delegation yet.
4. Brexit is still the biggest concern for investors in 2018
The UK’s transition plans for the period after Brexit on 29 March 2019 have just been published, but how our exit from the European Union will affect the country remains to be seen and the uncertainty is a worry for some investors.
5. Could house prices in Birmingham and Manchester really grow by 30%?
UK cities have seen house prices rise by an average of 5% over the past year to reach £211,200 in January, with Edinburgh, Birmingham and Manchester seeing the strongest gains – and this regional trend is set to continue.
6. Build-to-rent sector must build more houses to cater for families
Build-to-rent is a booming market, with 105,000 units currently either complete, under construction or in the pipeline across the UK. But almost all of these are flats rather than houses, meaning limited options for families.
7. New HMO rules for landlords set to take effect from October 2018
The government will implement new regulations for houses in multiple occupation (HMOs) from 1 October 2018 after a mandatory HMO licensing extension was confirmed in Parliament last week, which spells big changes for some landlords.