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“House price growth over 2005 is set to be the lowest for a decade. Whilst activity levels may have improved over the autumn on the back of more realistic pricing it does not automatically follow that prices will start to rise.” Richard Donnell, Director of Research, Hometrack “2006 will continue to see a vibrant buy to let market across the UK, with growth driven by increased consumer confidence and high demand.”Lee Grandin, Managing Director, Landlord Mortgages “The cool-down in the housing market ove

Halifax, Nationwide, Hometrack and Rightmove all indicated that the bottom of the market has passed in autumn 2005. Average house prices are forecast to rise by 1% during 2006 and by an average of 2.1% per annum over the next three years according to Hometrack’ s 2006 Housing Market Forecast. Low single digit house price inflation over the next few years will result in a steady re-alignment of household incomes and house prices to more sustainable levels. According to the New Homes Index, the proportion

Bernard Wales warns against short-term financial planning and urges a bold, forward-thinking approach to reserve fund management. Towards the end of the financial year the property manager has the exciting task of preparing the budget for the next year. Perhaps with the help of an accounts department, the starting point is the actual expenditure incurred during the current year. A methodical trawl through the various expenditure headings and the individual invoices produces the basic budget – but then w

Muriel Guest Smith, Chairman of The Federation of Private Residents Associations (FPRA), the national non-profit organisation that helps form residents associations and then represents them, writes about her personal experience of buying the freehold of a block of flats. Our Resident Management Company (RMC) bought the freehold of our 29 flat mansion block after almost ten years of unsatisfactory management from our landlord and their family-run managing agents. This is probably the main reason for most

The Commonhold and Leasehold Reform Act 2002 introduced a series of reforms most of which have been successful. It seems that those parts of the Act which have not been implemented in particular relating to RTE companies, have been put on hold, possibly permanently, to the undisguised relief of most professionals involved in this field. The delayed regulations requiring lessees be given regular statements of their service charges and prescribed information about their rights and obligations are planned to

While it is generally true that a less experienced property manager will command smaller fees, I disagree with the implication that the younger you are the less able you are to possess authority, deal with difficult situations and provide a high end comprehensive service. I think it sends out the wrong message to potential clients who may read the article and assume that younger property managers are less capable. I know from experience that this is not the case in practice. Jonathan O'Neill AIRPM Pro

Why has Right to Manage failed to take off? It seemed such a breakthrough when the legislation was passed in 2002. Leaseholders can take over the management of their block without having to go through the stress and expense of buying the freehold, and without even having to prove fault on the part of the landlord. All that's needed is the consent of 50% of your long leaseholders and you can control the destiny of your block. Yet so far only around 350 RTM companies have been registered at Companies Ho

Britain’s landlords are struggling to get their heads around some complex and unfamiliar aspects of the Housing Act 2004, according to the latest research from the National Landlords Association. 27% of them said they had no knowledge of the new definition of Houses in Multiple Occupation or of Licensing of HMOs. Only 13% reported that they have a sound understanding of the new definition and 10% have a sound understanding of licensing of HMOs, which starts in April. Under the changes, an HMO will be defi

[image1] Despite being a year of widespread negative sentiment on the housing market, 2005 was another strong year for the buy-to-let market. According to buy to let lenders, Paragon Mortgages, conditions in the first half of the year were challenging, with falling confidence in the housing market as a consequence of increased interest rates and general concerns over affordability. The second half of the year however, saw improving landlord confidence. Heightened public concern about the growing pension c

Planning a management and investment strategy when investing in buy to let properties is important; planning a strategy to minimise tax is equally as important, as this will have a major impact on financial profitability. Tax legislation is an extremely complex area. Utilising the various deductions and exemptions available with careful planning can reduce tax and increase profitability.

Following a review of the five regional Rent Assessment Panels in 2001, the Residential Property Tribunal Service (RPTS) was established to bring the panels together in order to better co-ordinate their work and maintain a consistency of approach in their procedures and decisions. News on the Block speaks to Siobhan McGrath, barrister and senior president of the service, about how the RPTS came about and her plans to develop it further this year. RPTS has statutory responsibility for settling a variety

“The private rented sector continues to be an attractive proposition for investor landlords; it is the most stable sector of the housing market. Industry forecasts of growth in renting from 11% to 15% of all housing are likely to prove accurate.” Adrian Turner, Chief Executive, ARLA “The housing market will wake up on New Year’s day 2006 without the hangover it suffered in January 2005. Househunter confidence is on the up and although we don’t expect prices to rise strongly, there is no doubt that people