Donald Trump has won the 2024 U.S. presidential election, and his second term will begin in January 2025. This turn of events has many in the UK wondering: How might this impact our housing market?
Trump is known for his "America First" approach, focusing on U.S. interests above all else. This could lead to changes in global trade agreements and economic policies. Such shifts might cause economic uncertainties that affect currency values and investor confidence worldwide, including here in the UK.
We've already seen slight increases in UK government bond yields, which can influence mortgage rates. Some lenders are raising rates due to these global uncertainties. If you're considering remortgaging, it might be wise to act sooner rather than later.
The U.S. dollar has strengthened against the British pound, making UK properties more attractive to American investors. This could boost demand in the UK housing market and potentially drive up property prices. However, if Trump aims to weaken the dollar to boost U.S. exports, this window of opportunity might be short.
There's also a possibility that Americans who disagree with Trump's policies might consider moving abroad. The UK could see more U.S. residents looking to buy or rent homes, especially in major cities. This influx could increase demand in the housing market.
So, what do you think? Could these developments influence your decisions in the housing market? It's still early days, and the full effects remain uncertain. Staying informed and considering these factors can help you navigate any changes ahead.
Image Source:https://www.yahoo.com/news/why-did-trump-win-dems-110000843.html
https://www.thetimes.co.uk/article/pound-set-for-biggest-weekly-fall-this-year-9xgb68k68
https://www.commercialtrust.co.uk/news/donald-trump-victory-affecting-uk-prs/
The Push to End Section 21 Evictions Gains Momentum
The recent rise in no-fault evictions, or Section 21 notices, is a stark reminder of the challenges in the rental market. Over 8,000 households received these notices between July and September, the highest number in eight years. That’s not just a statistic—it represents thousands of families and individuals facing the possibility of losing their homes.
The Renters' Rights Bill, which aims to end no-fault evictions, is a positive step for renters. However, campaigners and charities believe it needs to go further. They are pushing for additional protections like addressing rent hikes, which can price tenants out of their homes just as effectively as an eviction. There’s also a call for compensation when landlords sell, helping renters manage the costs of relocation.
As property managers, we understand the weight of these issues. The holiday season, a time when families should feel secure, highlights how critical housing stability is. A secure home is not just about a place to live—it’s about providing stability, fostering community, and ensuring peace of mind.
This isn’t just a renters’ issue; the housing crisis impacts everyone. Secure tenants create stable, long-term rental arrangements, which benefits landlords as well. A fair and balanced approach helps build trust and sustainability in the rental market.
We’ll continue to monitor the progress of the Renters' Rights Bill and provide updates to our landlords and tenants. Navigating these changes together is essential to creating a better future for the rental market in the UK.
https://www.bigissue.com/news/housing/renters-rights-bill-section-21-eviction-july-september/
Property Market Picks Up, Renters Feel the Squeeze
It’s a challenging time for renters in the UK. Recent forecasts by Savills suggest that rents could rise by nearly 18% over the next five years. To put that into perspective, this increase is expected to outpace the 15% growth in average incomes over the same period, making affordability an even greater concern for tenants. In London, the situation is already dire, with renters spending nearly half of their monthly income just to keep a roof over their heads.
What’s driving this surge in rental prices? It’s the classic case of supply and demand imbalance. The Royal Institution of Chartered Surveyors (RICS) reports that while there is a steady stream of tenants searching for homes, the number of available rental properties continues to dwindle. Many landlords are exiting the market, driven by factors such as rising mortgage rates, regulatory changes, and tax adjustments. Zoopla data reveals that in some areas, up to a third of homes listed for sale were rental properties within the last four years.
To make matters worse, upcoming government regulations may require all rental properties to achieve an Energy Performance Certificate (EPC) rating of C or above by 2030. This could prompt more landlords to sell rather than invest in expensive energy efficiency upgrades, further reducing the supply of rental properties.
On a brighter note, the latest RICS Residential Survey highlights signs of improvement in the wider UK property market. Buyer activity is picking up, particularly among first-time buyers eager to finalise transactions before the stamp duty changes announced in the recent budget take effect. Emma Cox, MD of Real Estate at Shawbrook, explains that optimism is driving new buyer enquiries and sales as people aim to complete purchases before the year ends.
However, the underlying issue remains: there is a pressing need for a stronger private rental sector. We hope to see the government work closely with professional landlords to encourage investment in quality, energy-efficient homes for renters.
As rents rise and supply shrinks, a key question arises: is the property market fair for both landlords and renters? Landlords are grappling with increased costs, stricter regulations, and mounting pressures to improve energy efficiency, while renters face worsening affordability as rental prices outpace income growth.
What do you think? Can the property market strike a balance that works for everyone?
https://eliteagent.com/uk-renters-face-18-hike-by-2029-amid-housing-supply-challenges/
Should Right to Rent Be Abolished?
The debate around the government's Right to Rent policy is heating up, with tenant advocacy group Generation Rent calling for its abolition. Their argument? It’s creating an uneven playing field, especially for migrants and ethnic minority renters.
At first glance, the policy seems straightforward: landlords in England must check the immigration status of potential tenants. But eight years on, it’s clear that the system has its flaws. According to research from the Tenancy Deposit Scheme (TDS), nearly a quarter of landlords still feel unable—or unwilling—to rent to non-UK passport holders. The fear of fines for mistakes is a big deterrent for many.
It doesn’t help that 85% of tenants requesting online Right to Rent checks reportedly received no response from landlords or agents. The reality is that it can take longer for some renters to find a home compared to others, adding extra frustration to an already challenging process.
Generation Rent sees this as more than just a paperwork issue; they argue that the policy makes an already tough housing market even harder for vulnerable groups.
The Renters’ Rights Bill, currently under discussion, could be a chance to make housing fairer and more inclusive. But Generation Rent insists that abolishing Right to Rent must be part of that conversation.
What’s clear is this: policies that aim to regulate housing need to work for everyone. Right to Rent may have started with good intentions, but it’s time to ask whether it’s doing more harm than good. What do you think? Is it time for a change?
https://www.property118.com/generation-rent-calls-for-an-end-to-discriminatory-right-to-rent/
Guaranteed Rent Solutions That Make a Difference in Transforming Lives
We are happy to showcase how we’re making a positive impact on both landlords and vulnerable communities.
Prem Property has secured a 10-year lease for a C2 Children’s Home in Walsall, creating a safe, nurturing environment for children with learning and behavioural difficulties. We also arranged a long-term lease for 16 flats in Dudley to provide temporary housing for families at risk of homelessness.
By connecting landlords to reputable care providers through our extensive network and industry connections, we’re not just facilitating property deals, we’re helping to create homes where they’re needed most.
At Prem Property, we believe in the power of connecting people to create meaningful change. Our Guaranteed Rent Management services are designed not only to provide landlords with secure, long-term income but also to support organisations that offer critical services to those in need.
We’re passionate about helping vulnerable communities find safe and comfortable homes. Whether it’s children needing specialised care or families facing homelessness, we aim to be the bridge between landlords and those who serve these populations.
Here’s to making a difference, one property at a time.
