The Industry Wire — archive, page 6

AI OpenRent, a UK lettings agency platform established in 2012, has received a majority investment from global private equity firm CVC. OpenRent's founders, Adam Hyslop and Darius Bradbury, will retain significant shareholdings and continue to lead the company. The investment aims to fund OpenRent's growth plans, which include developing new tools for landlords and tenants. OpenRent, which facilitates one in five UK tenancies, offers DIY lettings services such as advertising, tenant selection, referencing, and rent collection. A recent survey indicated that 34% of traditional letting agents, and 37% of sole traders, view DIY platforms as a major threat. For landlords: This development may lead to an expansion of services and tools offered by OpenRent.

AI Bolton Council is introducing a new five-year licensing scheme for Houses in Multiple Occupation (HMOs), requiring landlords to pay a fee of £1,211 per property. This initiative aims to address concerns about poorly managed and unsafe HMOs, citing 1,885 complaints about disrepair in rented homes over the past three years, often related to fire safety, electrical defects, and overcrowding. The fees will fund the scheme's administration and enforcement, with non-compliant landlords facing potential court proceedings or civil penalties up to £40,000.

AI Property management firm Rushbrook claims landlords risk significant value loss due to inadequate property maintenance. Their analysis across England applied a 10% to 15% capital value impact to average landlord-specific property values. Nationally, this could mean a reduction of £20,115 to £30,172 from an average property value of £201,145. The highest potential impact is in London. For landlords: Failing to maintain a London rental property could reduce its value by £39,063 to £58,594, based on an average property value of £390,625.

AI Oxfordshire County Council trading standards has issued a warning to landlords regarding illegal tobacco sales from retail premises. Investigations in Oxfordshire revealed businesses repeatedly selling counterfeit and smuggled tobacco, often linked to organised crime, tax evasion, and exploitation. Landlords are urged to conduct thorough tenant checks and act promptly on concerns, as failing to do so after warnings could lead to significant legal and financial risks. Criminal groups may use "ghost" directors or informal tenancy arrangements to conceal their involvement.

AI West Suffolk Council's £7,500 fine against Forthbrook Ltd for electrical safety breaches has been upheld by Cambridgeshire County Court. The fine, issued in November last year, followed Forthbrook Ltd's failure to address 21 electrical defects, including seven code 1 defects, within the 28-day legal timeframe after an EICR dated May 23 2025. The council had initially investigated a damp and mould complaint in March last year, leading to the discovery of the overdue EICR and subsequent safety issues at one of Forthbrook's properties. The works were eventually completed on September 10 2025, 82 days after the deadline, affecting a tenant and her four children.

AI Private equity firm CVC has acquired a majority stake in OpenRent, an online lettings platform founded in 2012. OpenRent's founders, Adam Hyslop and Darius Bradbury, will retain significant shares and leadership roles. The investment aims to fund OpenRent's expansion and enhance its services for landlords and tenants, which include advertising, tenant selection, referencing, and rent collection. OpenRent claims to facilitate one in five UK tenancies and serves 8.8 million landlords and tenants. A recent survey indicated 34% of traditional letting agents view DIY platforms like OpenRent as a significant threat. For landlords: This acquisition may lead to an expansion of services and tools offered by OpenRent.

AI West Suffolk Council fined Forthbrook Ltd £7,500 in November last year for failing to address 21 electrical safety defects at a rental property within 28 days, as required by the Electrical Safety Standards in the Private Rented Sector Regulation 2020. The council's involvement began in March last year following a damp and mould complaint, leading to a request for an Electrical Installation Condition Report (EICR). The EICR, provided in June 2025, identified seven immediate-action defects and 14 urgent-action defects. Works were not completed until September 10, 2025, 82 days beyond the deadline. Forthbrook Ltd's appeal against the fine was dismissed by a tribunal at Cambridgeshire County Court.

AI Research by Paragon Bank for Q2 2026 indicates a robust buy-to-let sector. The proportion of landlords experiencing rent arrears fell to a record low of 26% in the past 12 months, a four-percentage-point decrease from Q1. Concurrently, 86% of landlords reported making a profit from their lettings, a two-percentage-point increase. Average gross rental yields reached 7.02% in Q2, with buy-to-let credit profiles consistently outperforming owner-occupier sectors. These figures suggest reliable rental income and profitable operations for most landlords.

AI Purpose-built flats in England experienced over 56,000 false fire alarm callouts in the year to March 2026, an increase of approximately 4% from the previous year's 54,125 incidents. This data, analysed by Drax Technology, shows that cooking-related incidents caused over 13,500 alarms, while faulty or poorly maintained alarms were responsible for 12,232 callouts. These false alarms accounted for about 22% of all false alarms attended by fire and rescue services nationally. Some fire services may charge for repeated false alarms, though typically not for domestic premises.

AI Airbnb has agreed to share data with local authorities in England, allowing councils to identify social housing properties being illegally advertised on its platform. This initiative, the first of its kind for a short-term rental platform, aims to combat social housing fraud, which the government estimates affects 5,800 homes and costs taxpayers £78,300 per case. Ealing Council in west London is one of the participating authorities, using this data to ensure council homes are used as main residences and to recover properties for those in genuine need.

Investors suffered losses of more than £4.8million as a result of false and misleading marketing material, The Insolvency Service reveals.

AI Research by The Property Buying Company indicates that 65.6% of home sellers in England and Wales are overvaluing their properties. An analysis of 3,725 deals over the past year found homes were typically overvalued by 4.3%, with 19% overvaluing by more than 10%, and 5.2% by over 20%. Conversely, 14.1% of homeowners valued their properties accurately. Greater London sellers showed the highest average overvaluation at 6.9%, followed by Warwickshire (6.7%) and Lincolnshire (6.1%). This disconnect between homeowner perception and objective valuation can lead to renegotiations or failed sales. For landlords: This data concerns the sale of residential properties, not the rental market.

AI Tenant demand in the Private Rented Sector has rebounded for the first time in two years, according to Pegasus Insight's Landlord Trends data for Q2 2026. The research indicates 63% of landlords now report demand as 'very strong' or 'quite strong', a 5 percentage point increase from 58% in Q1 2026. This marks the first quarterly rise since Q1 2024, following a period of decline. The increase is driven by more landlords reporting 'very strong' demand, while only 5% describe it as weak. This trend occurs amidst concerns about declining housing supply due to landlord exits, partly attributed to the Renters’ Rights Act reforms.

New broker appointments at Knight Frank have strengthened the company's presence across key West and South West London markets.

AI National average asking prices for newly instructed new-build properties increased by 0.2% from £500,450 in July 2025 to £501,658 in July 2026, according to Propertymark analysis. While regions like the West Midlands saw an 8.8% rise, London, the South East, and the East of England experienced price falls. The South East saw a 0.6% decline, with prices dropping from £552,109 to £548,809, and the East of England recorded the largest fall of 3.5%, from £523,714 to £505,001. For landlords: London saw a decline in the average asking price of newly instructed new-build properties between July 2025 and July 2026.

Official documents now list Michael Bruce among persons of significant control of Purplebricks parent brand Strike Limited. The post Michael Bruce’s new stake in Purplebricks confirmed appeared first on The Negotiator .

Homeowners need to be careful about how much they share online, according to Global Protect’s Colin Crowden. The post Dangers of sharing too much property information online revealed appeared first on The Negotiator .

Yopa boss Verona Frankish has tasked one of her agents with selling her luxury barn conversion in Nottinghamshire for £895,000.

AI Housing provider Stonewater used drones to survey 969 residential blocks over four months, identifying roof defects early. Partnering with Vantage UAV, they inspected blocks over five years old using high-resolution cameras and thermal imaging. This method identified issues like missing tiles and guttering defects, allowing Stonewater to prioritise repairs and reduce disruption and safety risks compared to traditional scaffolding. The collected data will inform future maintenance planning and investment decisions.

AI Burnley Council is proposing to extend its Article 4 Direction to all remaining six wards in the borough, following an increase in Houses in Multiple Occupation (HMOs) and concerns about potential issues like anti-social behaviour and parking pressure. Since 2024, nine wards have been subject to an Article 4 Direction, but the new proposal would require landlords in Briercliffe, Cliviger with Worsthorne, Coalclough with Deerplay, Hapton with Park, Lanehead, and Whittlefield with Ightenhill to seek permission for small HMO conversions. This move, if confirmed after consultation, is set to begin in September 2027. The council is also consulting on expanding selective licensing to new and redesigned areas.

AI The proportion of landlords experiencing rent arrears reached a record low of 26% in Q2, a four-percentage-point decrease from Q1, according to the Landlord Trends report. Paragon Bank also reported that 86% of landlords were profitable, a two-percentage-point increase, with average gross rental yields at 7%. Concurrently, ONS figures show average UK monthly private rent rose by 3.7% to £1,393 in the 12 months to July. In England, average rents increased by 3.8% to £1,451, with the North East seeing the highest inflation at 6.3% and the South East the lowest at 2.9%.

AI The government is recruiting 1,000 new judges and tribunal members this year specifically to address increased demand resulting from the Renters’ Rights Act, as confirmed by Minister for the Courts and Legal Services Sarah Sackman to the NRLA. Full digitisation of the courts, including new digital services for possession and the Residential Property Chamber, is expected by April or May next year, with initial changes by year-end. This aims to replace the current paper-based system, allowing landlords to manage possession claims online. A non-judicial body to determine appropriate rents is also being explored to reduce pressure on the First-tier Property Tribunal. For landlords: The government is increasing judicial capacity and digitising court processes to manage the impact of the Renters' Rights Act on possession claims and tribunal workload.

AI Average asking prices for newly instructed new-build homes in Great Britain rose from £500,450 in July 2025 to £501,658 in July 2026, according to Propertymark. Eight regions, including the West Midlands with a £33,838 increase, saw rises. However, London, the South East, and East of England experienced declines, with the East of England seeing the largest fall of £18,713. These regional variations are attributed to factors like development type, planning, and costs. For landlords: The asking prices of newly instructed new-build properties in London fell over the year to July 2026.

AI William Taper Willmotts, an established agency, has integrated its residential sales operation with eXp UK's team model as of August 19, 2026. This move grants Willmotts access to eXp UK's national network of over 1,000 agents, allowing for collaboration and extended reach for clients buying, selling, relocating, or investing outside Willmotts' immediate market. The agency will maintain its identity while utilising eXp UK's technology and support infrastructure. This follows a similar move by Essex agency NAKED recently.

AI Conveyancing fees decreased in real terms over the past year, impacting firms amidst a subdued housing market and competitive pricing. The average cost for a home mover buying and selling was £2,438 including VAT in Q2 2026, a 0.1% quarterly decrease and 0.1% annual increase, against 2.6% CPI inflation. This data, from over 82,000 Reallymoving quotes, includes legal work, expenses, and disbursements. Seven of 12 UK regions saw quarterly falls, with the North West declining 6.9%. Scotland experienced the sharpest growth, up 9.7% quarterly and 17.7% annually to £2,543. London remained the most expensive region at £3,096. For landlords: The average conveyancing bill in London was £3,096.

AI Half of homes across Great Britain are taking longer to sell than a year ago, according to Zoopla, due to buyer caution over mortgage costs. Selling times increased year-on-year in 180 of 363 local authority areas in England, Scotland, and Wales. Despite this, the national average time to sell remained 42 days, masking a regional divide. Scotland dominated the fastest markets, with Falkirk at 11 days, while Melton in the East Midlands had the longest average at 76 days. For landlords: Westminster in London was among the slowest markets, with homes taking two months or more to sell.

AI Property management firm Centrick has been added to Crest Nicholson's managing agent competency framework, allowing it to bid for work across the housebuilder's residential properties. This appointment, effective from August 19, 2026, covers both new and existing developments within Crest Nicholson's regional divisions, encompassing early occupation and long-term community management. Centrick was selected after an assessment of its operations, processes, and capabilities, with Crest Nicholson citing its structured processes and investment in staff development.

New buy-to-let option targets expat and international investors using SPV structures

AI Construction company insolvencies rose in July 2026, with 343 cases, a 3.3% increase from 332 in July 2025. This sector recorded 3,841 insolvencies over the 12 months to July, making it the highest across all sectors and 17% of the total. Specialised construction activities accounted for 186 insolvencies in July, 54% of the sector's total, despite a slight year-on-year decrease from 194. These figures highlight the construction sector's vulnerability to rising costs and economic uncertainty, particularly affecting smaller firms.

AI Fine & Country West Wales, in collaboration with Homes of Wales, is launching a regional property roadshow called "The Great Unlocking." The initiative targets vendors whose homes have not sold with other agents, as well as buyers and homeowners with stalled moving plans. The first event will take place at The Bandstand in Aberystwyth on Friday 21 August, from 9am to 4:30pm, showcasing properties from Ceredigion, Pembrokeshire, and Carmarthenshire. Further pop-up exhibitions are planned across West Wales. The agency states that over half of its instructions are from clients previously with other agents.

AI Prime Minister Andy Burnham announced on Wednesday 19 August a national initiative to end rough sleeping by Christmas, backed by £442 million in increased funding. This programme will provide emergency accommodation and support across England, including practical help with housing and health needs. A national summit will be held in the Autumn to gather leaders from various sectors to discuss their role in ending rough sleeping. The initiative also includes £8.4 million for the Ending Homelessness in Communities Fund, part of £47 million allocated to 100 projects over three years, aiming to provide over 1,000 settled homes. This aims to get people off the streets and into stable futures.

AI The average house price in Westminster decreased by £291,000, a 25.4% drop, in the year leading up to June. Official figures from the Office for National Statistics show the average property price in this central London borough fell from £1,145,000 in June 2025 to £854,000 in June 2026. This represents a significant decline in property values in the area. For landlords: Property values in Westminster have seen a substantial decrease.

AI A recent First-tier Tribunal case in London has provided clarity on defending rent increases under the Renters’ Rights Act 2025. The case at 25C Skylark Point, London, involved a landlord, Get Living, proposing a rent increase from £3,102.82 to £3,180 per month for a two-bedroom flat. The tribunal, in its decision on 17 July 2026, upheld the landlord's proposed increase, prioritising evidence of nine actually agreed lettings over the tenant's evidence of advertised rents. This confirms that tribunals will favour achieved rents as comparables. For landlords: The tribunal's decision at Skylark Point confirms that evidence of achieved rents for comparable properties is crucial for successfully defending rent increases, and this information can be sourced from letting agents, ONS/VOA statistics, or tribunal decisions.

AI The government plans to recruit 1,000 new judges and tribunal members to manage the increased demand on the justice system following the Renters Rights Act. Minister Sarah Sackman informed the NRLA that this is to address concerns about the speed of possession case processing, especially with the loss of Section 21. The court service is also developing two new digital services for possession and the Residential Property Chamber, aiming for full end-to-end digitisation by May next year to reduce waiting times. A non-judicial body will also be established to determine appropriate rents, easing pressure on the First Tier Tribunal. For landlords: The government is increasing judicial capacity and digitising court processes to handle the anticipated rise in possession claims and rent challenges under the new Renters Rights Act.

AI Research from Paragon Bank for Q2 2026 indicates a positive outlook for the buy-to-let sector, with a record low in landlord rent arrears. The proportion of landlords experiencing arrears in the past 12 months fell to 26%, a four-percentage-point decrease from Q1. Additionally, 86% of landlords reported making a profit, a two-percentage-point increase, and average gross rental yields reached 7.02%. These figures suggest a resilient sector with reliable rental income despite broader economic pressures.

AI Tenant demand across the UK has increased for the first time in two years, according to Pegasus Insight's Q2 research. In Q2 of this year, 63% of landlords reported 'very strong' or 'quite strong' tenant demand, up from 58% in Q1. This marks the first quarterly rise since Q1 2024, driven by a seven-percentage-point increase in landlords experiencing 'very strong' demand, now at 29%. This recovery follows a consistent decline from 83% in Q1 2024 to a low of 58% in Q1 2026. The report highlights ongoing pressure on Private Rented Sector supply, with more landlords selling than buying.

AI Bath & North East Somerset Council is consulting on an updated Housing Services Enforcement & Financial Penalty Policy 2026 to address poor housing conditions and rogue landlords. The proposed policy includes options for fines and prosecutions against landlords who fail to meet their responsibilities, particularly in cases of serious hazards, illegal eviction, repeated non-compliance, or licensing failures. This update follows new duties and powers introduced by the Renters Rights Act, aiming to improve housing for renters in the area. The council states it will also continue to provide guidance to landlords.

AI An investment property in the Midlands, an 18th-century labourer's cottage, has been relisted for auction with a significantly reduced reserve price. Originally failing to sell at £179,000, the property will now be offered by Bond Wolfe at £120,000 in an auction on September 10. The cottage, which has planning permission and listed building consent for conversion into a three-bedroom family home, has already undergone structural repairs. The new owner will need to complete the conversion.

AI Bolton Council proposes mandatory training for managing agents and landlords as a condition for securing an additional HMO licence, aiming to improve property conditions and management standards. The scheme, expected to be fully operational in early 2027, will require nearly all HMOs in Bolton to be licensed, with a five-year licence costing £1,211 per property. This follows 1,885 complaints about disrepair in rented homes over three years and eight fines issued for HMO offences in the past 17 months. Landlords failing to comply face court proceedings or civil penalties up to £40,000.

AI Dwello Property, a Glasgow-based lettings and property management company, has completed its first acquisition, purchasing the lettings business of Thomson Residential Ltd. This deal increases Dwello's managed portfolio to over 1,500 homes, serving approximately 400 landlords and 2,000 tenants. The acquisition, supported by a £520,000 term loan from Bank of Scotland, will see Dwello's headcount rise to 21 and is expected to contribute to a projected turnover of £2.5 million by 2028. Dwello aims to expand its portfolio to over 2,000 homes.

AI New government figures from the Office for National Statistics show the average UK private rent reached £1,393 in July, an increase of £50 (3.7%) compared to the previous year. This rise is attributed to the Renters Rights Act, which has led some landlords to exit the sector, reducing housing supply, and others to increase rents due to perceived financial risks. Jeremy Leaf, a North London estate agent, notes strong demand, particularly for higher-end properties, and landlords insisting on better references. For landlords: The Renters Rights Act is cited as a factor influencing rental prices and landlord behaviour in the UK.

AI A recent survey of 45 letting agents by industry supplier Propoly indicates that 54% of respondents have concerns about tenant fraud during onboarding. Only 31% of agents expressed absolute confidence in their current onboarding processes to prevent tenancy fraud. The survey also found that 43% of agents identified tenant referencing as the biggest cause of delays in onboarding, with 29% citing preventing fraud and verifying information as their primary challenge. The average onboarding time varied, with 31% completing it in three days or less, 31% taking four to seven days, and 29% requiring one to two weeks.

AI Propertymark's June data indicates continued high demand for rental properties, with supply remaining low. A typical Propertymark agent acquired an average of three new rental properties in June, while registering over eight new tenants. When existing applicants are included, there are now nine potential renters for every available property. On the sales side, branches added 9.5 homes, bringing average stock to 42 per branch, with viewings at 2.1 per property. Market appraisals reached 22 per branch. These figures highlight a cautious market where affordability is a significant concern for 31% of adults.

AI The UK Government plans to fast-track approvals for thousands of new homes in England, specifically within walking distance of train, tram, and underground stations. This initiative, part of the new National Planning Policy Framework, will introduce a default 'yes' for such developments and set minimum housing targets for these areas. Propertymark supports the move to improve access to public transport but cautions against creating isolated communities. The reforms aim to address the housing crisis and enable more people to live closer to work and services.

“A more efficient property market is vital to the economy," says Ordnance Survey's Tina Kennedy. The post Faster and more reliable property transactions promised appeared first on The Negotiator .

AI HMRC's new anti-money laundering (AML) guidance, introduced this summer, requires estate agents to adopt a risk-based approach to combat financial crime. This involves maintaining written risk assessments and implementing specific policies and procedures. Analysis by AML platform Coadjute suggests that an average estate agency branch may need a full-time compliance officer, incurring an annual employment cost of approximately £45,000, to meet these ongoing obligations. Alternatively, distributing the workload among existing staff could displace sales activity worth around £185,000 annually. This indicates a shift from AML as a minor task to a dedicated professional function.

Help to Buy was good for buyers and the Treasury, says the Home Builders Federation's Neil Jefferson. The post New calls emerge to revive Help to Buy appeared first on The Negotiator .

A regional divide is opening up when it comes to time on the market, says Zoopla's Richard Donnell. The post Regional gap grows as more homes take longer to sell – Zoopla appeared first on The Negotiator .

AI Knight Frank predicts that the "Mansion Tax," or High Value Council Tax Surcharge, introduced in last autumn's Budget, may see increased rates. This surcharge, applicable to properties in England valued at £2 million or more, is set to begin in April 2028 with initial annual rates between £2,500 and £7,400. The estate agency suggests that the upcoming Budget may target high-value property to fund government spending plans. This could impact the recovery of the prime London property market. For landlords: The Budget may also align Capital Gains Tax and Income Tax rates, potentially affecting some landlords.

Olivia Boulting joins Strettons from Auction House UK, where she was Regional Manager and Auctioneer for the Southern UK territories.

AI Bolton Council has approved plans for a borough-wide additional licensing scheme for Houses in Multiple Occupation (HMOs), effective early next year, costing £1,211 per licence. Landlords and managing agents will face mandatory training on HMO fundamentals from an approved provider. The scheme also increases the minimum bedroom size from 6.5m² to 7.5m², with an implementation period for existing HMOs to comply. A dedicated team of five officers will be established to manage the scheme and address illegal operations. The council received 397 complaints about HMO disrepair over the last three years.