The Industry Wire — archive, page 7

AI A landlord in Glasgow has been refused a House in Multiple Occupation (HMO) licence renewal for a city centre flat due to serious fire safety concerns. Glasgow council's licensing committee rejected the application after inspections by council officers and the Scottish Fire and Rescue Service found multiple issues, including faulty fire doors, obstructed escape routes, and a lack of fire safety information for tenants. The landlord's letting agency stated that earlier quotes for remedial work had been rejected, although contractors later addressed deficiencies before new tenants moved in in August. The fire service still declined to approve the licence.

AI Knight Frank's Q3 2026 Market Update reveals a significant shift in UK Build to Rent investment, with Single Family Housing (SFH) becoming the dominant sector. Total investment in UK Build to Rent reached £1.6 billion in Q3, contributing to a year-to-date total of £4.2 billion. SFH attracted 67% of Q3 investment, exceeding £1 billion across 11 deals. Operational investment accounted for £600 million in Q3, representing 38% of the total, boosted by two large portfolio deals worth £500 million. This indicates strong investor confidence, particularly in SFH, and a focus on assets offering immediate scale and income.

AI Investment in UK Build to Rent (BTR) reached £4.2bn year-to-date, with £1.6bn invested in Q3 2026, according to Knight Frank. Single-family housing accounted for 67% of Q3 investment, with over £1bn committed across 11 deals. Operational BTR assets attracted £600m in Q3, making up 38% of the total, with two large portfolio transactions contributing £500m. Operational transactions now represent 61% of all BTR investment this year, as investors favour assets providing immediate rental income and scale. A notable Q3 deal saw Border to Coast Pension Partnership acquire a £400m portfolio from Blackstone.

At entrepreneur Abbie Roden Sandbach’s Brook Green home, every object and piece of art tells a story

AI Kent agency Guildcrest Estates has acquired Frederick & Co Property Services, a local independent firm, as part of its growth strategy to expand its presence in the South East. The acquisition includes 150 managed properties, which will now be overseen by Guildcrest Estates. Sarah Huckstep, managing director of Guildcrest Estates, stated the aim is to maintain the personal service for existing clients. Martyn Stampe of Frederick & Co expressed satisfaction with Guildcrest Estates sharing their commitment to client service.

AI More than 100,000 students are expected to move to Manchester for the new academic year, facing a competitive market due to fewer available rental homes and the new Renters’ Rights Act. Manchester letting agency Thornley Groves notes that the Act, effective from 1st May 2026, has changed tenancy rules, though university halls and Purpose-Built Student Accommodation are exempt. The agency's report shows a 27% year-on-year fall in tenants vacating properties across the North West, with average student rents rising 5% to £2,124 per calendar month. This means fewer homes are returning to the market, increasing competition for students.

AI LRG has appointed Hayley Parnell as director of its Meadows Property Management Hub in Camberley. Parnell, who joined LRG over two years ago, previously worked with the group's London team to develop its property management proposition and strengthen internal links. Kim Lidbury, Group Director (Property Management) at LRG, expressed confidence in Parnell's ability to lead the Hub, which plays a significant role in customer experience. Parnell's initial focus will be on understanding the team and customer priorities.

AI UK rents increased by 5% year-on-year to September 2025, reaching an average of £1,581 per property, according to Goodlord's rental index. This represents an £888 annual increase for tenants compared to 2024. While overall growth outpaced inflation, the pace is slowing in some areas. Wales saw the highest year-on-year rise at over 7%, and the North East experienced a 14% increase, with average rents reaching £1,000. The East of England was the only region to see a slight decrease of 0.4%. Void periods averaged 20 days in September, with the North East having the shortest at 11 days.

AI Property development group Salboy has launched Everway Homes, a new Build To Rent (BTR) brand. Everway Homes plans to develop 2,000 low-rise homes for rent across England and Wales over the next five years, with 1,000 already in the pipeline. The first tenants are expected by January 2027, and all 2,000 homes are projected to be completed by the end of 2031. Construction has begun on the first 37-home scheme in Staffordshire, with further sites planned for Kent, Greater Manchester, Lincolnshire, and Cornwall.

AI Knight Frank reports that London rents are increasing due to a reduction in available rental properties, a trend attributed to the new Renters Rights Act (RRA) rules introduced in May. Average rents in prime outer London (POL) rose by 3% in the year to September, with a 2.3% increase in the last six months, the fastest half-year growth since January 2024. New listings in POL decreased by 6.4% in the year to August. In prime central London (PCL), average rental values increased by 1.3% in the year to September, with a 1.8% rise over the last six months, also the fastest since January 2024. The ratio of new tenants to properties in POL was 8.9 in the three months to September, and 5.6 in PCL, the highest in four years. For landlords: Rents in prime outer and central London have increased, with supply falling and tenant demand rising.

AI The government's new private rental sector database, set to launch in English regions from December, is projected to cost landlords over £325 million annually. The National Residential Landlord Association (NRLA) states that landlords will be required to pay £65 per property each year, a figure almost seven times higher than initially estimated. With approximately five million private rented dwellings in England, this translates to a minimum annual cost of £327 million for the sector. The NRLA warns that this expense will ultimately be passed on to renters, noting that much of the information required duplicates existing council licensing schemes. For landlords: This new database will impose a mandatory annual fee of £65 per rental property in England from December.

AI Finest Retreats, a UK holiday lettings management company, has published an analysis highlighting the economic contribution of managed holiday lets. Their findings indicate that each managed holiday let contributes £10,178 annually to its local economy through housekeeper wages and local trades, with guest spending adding a further £7,448, totalling £17,626. This report comes as Chancellor John Healey reportedly considers reclassifying holiday lets as second homes in his October 28 Budget. Such a change would remove small business rates relief, moving properties to council tax, potentially including the second homes premium of up to 100% already applied by 84% of English councils. Modelling suggests this would add £4,784 in annual council tax, reducing average annual profit from £4,976 to £192, a 96% decrease. This reclassification would significantly impact holiday let owners and the local economies reliant on them.

AI At its recent conference, the Green Party proposed a three-year "emergency brake" on private rents across the UK. Party leader Zack Polanski called for rent rises to be capped at the lowest of CPI, wage growth, or 2%, alongside a ban on evictions used to facilitate rent increases. This proposal aims to provide renters with breathing space and allow wages to catch up with rents, while the government develops a national Fair Rents Guarantee. The party also claimed that over a third of the Department of Work and Pensions' housing benefit spending will go to private landlords in the coming year. Propertymark's Timothy Douglas warned that rent controls do not address housing shortages and can lead to unintended consequences, citing evidence from Scotland and international schemes.

AI Advertised rents for properties in Greater London listed by Hello Neighbour increased by 6.1% year-on-year in September, reaching an average of £2,448. This marks the fifth consecutive month of growth since the Renters Rights Act came into force in May, though the rate has slowed from 9.8% in August. Supply of rental homes in London is down 6% year-on-year, and 13% in inner London, according to Zoopla. Hello Neighbour suggests the Act encourages landlords to set higher initial rents due to restrictions on subsequent increases and accepting offers above advertised prices. Demand, measured by enquiries per property, has decreased compared to previous years. For landlords: The Renters Rights Act is influencing initial rent setting in London, with advertised rents increasing while supply falls.

AI Prime central London house prices saw their first quarterly rise in four years, increasing by 0.3% in the three months to September, according to Knight Frank. Annual values are down 2%, the smallest decline in 18 months. Sales activity also improved, with exchanges in prime central and outer London falling 2.5% in the year to September, compared to a 14% annual decline in March. The market above £10m saw 121 transactions, matching the previous year, with total spending up 14% to £2.4bn. For landlords: Average rents in prime outer London increased 3% in the year to September, and 2.3% in the preceding six months, while new rental listings fell 6.4% in the year to August.

From the return of Frieze and Decorex to sample sales, new book releases, and high-profile design collaborations, here is your essential guide to October’s design and art calendar