Posted Monday 20th June 2022
On 7th July we’re holding a Summer Party for our clients and contacts within the Real Estate profession. It’s been a long time since we have been able to get together in person so please join us for drinks at our roof terrace overlooking London. Places are limited!
Last week, the Government published their whitepaper ‘A fairer private rented sector’ in which it lays out plans to ban Section 21 ‘no fault’ evictions. The notice is primarily issued when a tenant is in rent arrears or when a landlord wishes to sell or move into the property. The ban is likely to have a negative impact on both landlords and tenants.
The rising cost of living is influencing the housing market, with property prices slowing. While prices have risen 10.5% in 12 months, and continue to rise, the rate at which prices are increasing has slowed. With interest rates set to rise, this could slow even further.
The Building Safety Act 2022 received Royal Assent at the end of April, and it includes an extension to liability for safety defects in residential buildings. The extension means that responsibility is now retrospective to 30 years.
The London market took a significant hit as the pandemic changed the way people live and work but for investors, it has provided a good opportunity. Rental yields have been steadily climbing with the south leading the charge.
Boris Johnson announced an extension to the Right to Buy scheme that aims at giving housing association tenants an opportunity to purchase their home. The scheme includes plans to build a new social home for every one sold. However fears remain about the wider impact on social housing.
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.
Joelson, the leading London law firm, has successfully advised the sellers of Pet Microchip Services Ltd (PMS) on its sale to Identi.
Joelson has advised the company and management of Addison Lee on its acquisition by ComfortDelGro, a leading multi-modal mobility operator.
