Cash is king in prime property purchases

Buy-to-let investors and second-home owners were behind three in five property purchases made in Prime London during Q1 2016, boosting the proportion of purchases made in cash, according to estate agent Marsh & Parsons’ latest London Property Monitor. 

Accounting for 36% of all sales from January to March, buy-to-let investors were the most prolific type of buyer across Prime London in the three months immediately preceding the April 1st implementation of an additional 3% Stamp Duty. This represents a significant spike from 26% of purchases during the previous quarter, and a sudden reversal of the recent trend of weakening investor influence. Investor share of the market has been in slow decline last year since it peaked at 37% in Q4 2014.
Continue reading

Housing Bill should also include rogue tenants list, says AIIC

The Housing and Planning Bill, which includes measures to tackle criminal landlords and letting agents, should also address the issue of problem tenants, according to the Association of Independent Inventory Clerks (AIIC).
Included in the Bill are proposals to ban and fine criminal landlords and letting agents, introduce rent repayment orders and establish a database of ‘blacklisted’ landlords and agents.

Continue reading