Tag Archives: cookies
UK landlords can expect speedier eviction process for rogue tenants
A new service launched by the UK Government enables landlords to start the process of evicting tenants using the Section 21 accelerated possession procedure by filling out an online form. This was an idea which was first put forward by leading tenant eviction firm Landlord Action, as part of its role on a Government Think Tank to help speed up evictions. It is the first step towards making the service completely digital in the future. Landlord Action took up the idea with the Department for Communities and Local Government of making Section 21 accelerated possessions easier for landlords to issue and its experience found that too many landlords, who did not have legal representation, were making mistakes in their applications to court, which then lead to subsequent delays. It was suggested that accelerated Section 21 applications should be issued online, just like the Section 8 PCOL service (Possession Claim Online). As a result the HM Courts and Tribunals Service and the Ministry of Justice Digital Services have worked together to improve the way an accelerated possession claim can be made. As a result, for the first time, it is possible to complete the N5b form online, then print it out and post along with the tenancy agreement and fee. A system which Landlord Actions says should be much easier for landlords to understand. ‘We are always campaigning to make life easier for landlords, especially through the distressing time of trying to regain possession of a property. We are pleased that the Government has listened to our initial ideas regarding making accelerated possession forms available online, as I really feel it will make a difference,’ said Paul Shamplina, founder of Landlord Action. The new service is designed so that everyone can use it, with complex legal points explained in plain English and questions that are designed to gather information relevant to each landlord's situation as well as check their eligibility for making such a claim. ‘Our solicitors are dealing with hundreds of claims for landlords seeking possession through Section 8 and Section 21 accelerated claims, where landlords don't want the hassle of form filling or the risk of getting it wrong,’ explained Shamplina. ‘This new online N5b form will go a long way in helping to prevent the most common mistakes landlords make, which often cause costly delays. We also hope that landlords will be empowered by the knowledge that improvements are underway to make possessions quicker and easier in the future,’ he added. Continue reading
Asking prices in London push up averages in the UK as a whole, latest index shows
Property asking prices in London are still increasing and have helped push up the average prices of a UK home for the tenth month in a row, according to the latest index figures. Overall average asking prices increased by 0.2% in October and 8.2% year on year, taking the average asking price to £267,466. But outside of London home prices fell in all English regions except the East Midlands and the South East, Scotland and Wales. The Asking Price Index from Home.co.uk says that coupled with last month’s rise of 1.1% it puts London back on a rising trend following a dip in the summer which it says was caused by a correction in prime property prices. The supply of property for sale in Greater London is up by 54% compared to October last year but the typical London property is now 15% more expensive. But excluding London, the UK property market is cooling in line with seasonal expectations, the index report says. Prices are edging back in most regions after what was a solid year, especially in the South but prices continue to stagnate in the North. The worst performing region over the last six months has been the North East with a fall of 0.9% since May. The firm describes this as ‘a very poor performance’ for what has been the best year for UK property prices since the onset of the financial crisis. Wales, the North West and Scotland are not much better and only just managed to keep in positive territory. ‘Within those areas, it is only the more upmarket locations that are supporting the regional averages,’ the report explains. Across the UK, supply of property for sale is steadily increasing but remains historically low. The number of properties that entered the market last month was 14% higher than during October 2013. ‘Areas of great demand, such as London, will be less sensitive to rising demand, while Scotland, which has a much weaker property market, has registered an annual rise of 18% in the number of properties for sale. This will likely thwart further price rises in 2015 north of the border,’ the report points out. ‘In Wales and the other English regions, we have observed only minor increases in the volume of sales properties coming onto the market,’ it adds. The data also shows that the average mix-adjusted 12 month change in asking prices for England and Wales reached a maximum in June at 9.6% and this is steadily falling back. The average year on year price change trend for England and Wales reflects an end to the accelerating price growth observed over most of the last two years. The firm says that annualised gains are being eroded in the current cooler market, and it expects this gentle downtrend to continue into 2015. Continue reading
Property price growth in Australia easing to a more sustainable level
Home price growth in Australia eased again during the September 2014 quarter but are up 9.1% compared to a year ago, the latest data from the Australian Bureau of Statistics show. Sydney continues to drive residential property price increases with the Residential Property Price Index (RPPI) for Sydney up 2.7% in the September quarter of 2014 and 14.6% in the previous year. As well as the rise in Sydney, the RPPI rose in Melbourne, Brisbane, Adelaide and Hobart by 1%, and by 0.3% in Darwin and Canberra. Perth was the only city to show a decrease in prices with the RPPI decreasing 0.1%. The total value of Australia's 9.4 million residential dwellings increased to $5.3 trillion. The mean price of dwellings in Australia is now $563,100, an increase of $8,300 over the quarter. Established house prices for Sydney rose 3.2% and attached dwelling prices rose 1.8% while overall the RPPI for the weighted average of the eight capital cities rose 1.5% in the September quarter of 2014 and 9.1% in the previous year. This includes growth of 9.2% in established house prices and an 8.5% increase in attached dwelling prices over the year. The figures indicate that price growth is easing to a much more sustainable rate, according to Shane Garrett, senior economist at the Housing Industry Association (HIA). ‘The annual rate of home price growth nationally is back in single figures for the first time in a year. At the same time, new home building is stretching to its busiest year in two decades. This is no coincidence,’ he explained. ‘Clearly, the housing industry has risen to the challenge in terms of seeking to meet Australia’s increased housing requirements. However, capacity is bursting at the seams. Any home builder will tell you of the difficulties in sourcing crucial trades like bricklayers, at a time when training budgets in the industry are being slashed by government,’ he added. Garrett also pointed out that the situation around residential land supply is also stifling new home building. It is important that federal and state governments ease the bureaucracy around the release and development of land for new housing. This will help ensure that strong dwelling price pressures do not emerge again in future,’ said Garrett. ABS figures also show that new home lending reached a fresh high for the cycle in the September 2014 quarter, reaching its highest level in 20 years. But Harley Dale, HIA chief economist, said that the aggregate number of loans for first home buyers is still very low from a historical perspective. ‘Policy reform is vital to turning this situation around and needs to be aimed at the excessive and inefficient taxes and regulation levied on housing. First home buyer loans reached conspicuous troughs in the early months of 2011, 2013, and 2014, although these levels were 12% higher than the record low in the early 1990’s recession. Loan numbers have only lifted by 5.1% from this latest 2014 trough,’ he explained. The total number… Continue reading
