Zoopla, Uswitch and Primelocation owner ZPG bought for £2.2bn

May 11, 2018

Image copyrightZPG The owner of property website Zoopla and comparison site Uswitch has agreed to be bought by a US private equity firm. Silver Lake is paying £2.2bn for ZPG, which also owns the PrimeLocation and SmartNewHomes websites. Investors in ZPG will receive 490p a share – almost a third higher than its closing price on Thursday. “ZPG is a great growth technology company,” said Silver Lake managing director Simon Patterson. “It has established strong positions in property classifieds, home …

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Number of middle-aged renters doubles in a decade

From BBC News Forty-somethings are now almost twice as likely to be renting their home from a private landlord than 10 years ago. Rising UK house prices have left many middle-age workers unable to afford a first home, or as “accidental renters” after a relationship break-up. Analysts say a focus on young first-time buyers means older tenants, often with children, risk being ignored. Concerns have been raised about the economic and social impact of these tenants in years to come. …

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House prices see biggest monthly fall since 2010, Halifax says

May 8, 2018

From BBC Website UK house prices saw the biggest monthly fall for nearly eight years during April, according to the Halifax, as demand for homes weakened. The lender said prices fell by 3.1% between March and April, the biggest decline since September 2010. The bank said that housing demand had softened in the early months of this year, with both mortgage approvals and completed home sales edging down. On an annual basis, price growth slowed to 2.2% from March’s rate …

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Government Introduces Tenant Fees Bill

May 3, 2018

Yesterday, the Government introduced the Tenant Fees Bill and issued their official response to the HCLG Select Committee report on the draft Tenant Fees Bill. All proposals relate to England only. The Government have confirmed that following provisions will be included in the Tenant Fees Bill: Security deposits must not exceed the equivalent of six weeks’ rent Holding deposits will be capped at no more than one week’s rent Change of sharer charges will be capped at £50 unless the landlord …

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Housing Minister braves the crowds at ARLA Conference

April 27, 2018

ARLA conference 2018 took place on 17 April at the ExCel London. It was a veritable mix of class leading keynote speakers, industry information, networking opportunities and a chance to meet product and service providers. Among the cannons and confetti of this year’s conference, Housing Minister Heather Wheeler braved the crowd of letting agents, announcing that landlords will always be better protected if they use a professional agency, such as ARLA Propertymark Protected agencies and saying that she was impressed …

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Banning Orders and Rogue Database live

April 10, 2018

Did you know that from 6 April local authorities in England can apply to the First-tier Tribunal to issue Banning Orders against landlords or lettings agents who have been convicted of a Banning Order offence? The power was granted under the Housing and Planning Act 2016 and is aimed at protecting tenants and driving out poor landlords and agents who bring down the reputation of the industry. ARLA Propertymark letting agents, such as Upstix are principled and professional, but it’s still …

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Estate agents will have to be professionally qualified in future and reveal referral fees

April 9, 2018

Estate agents will in future have to hold a professional qualification and also be transparent about the referral fees they receive. The National Trading Standards Estate Agency Team (NTSEAT) will be tasked with proactively monitoring the disclosure of referral fees, and the Government will also look more closely at the case for banning referral fees. The measures were announced yesterday morning – just after midnight on Sunday, a timing cynics say is designed to put a housing minister on the …

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Government admits falling behind on Right to Buy replacement pledges

April 4, 2018

The Government has admitted falling short on its commitment to replace council housing units sold under the Right to Buy scheme. Former Prime Minister David Cameron tried to shore up the controversial scheme in 2012 by enhancing the discounts council tenants could get to buy their own homes and by promising a replacement for each home sold as a result of these discounts within three years of the sale. But new data from the Ministry of Housing, Communities and Local …

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Moving home is ‘becoming a rarity’ According to BBC Investigation

March 28, 2018

Homeowners are moving half as often as they did before the credit crunch, figures produced for the BBC suggest. Reasons include high house prices, stricter rules on getting mortgages and older people staying on in large properties. People used to move house roughly four times after their first purchase. Now it is more like twice. There is a boom in extending homes instead, as parents strive to create enough space to cram in their families. “Those not trading up are …

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Sustained Campaigning Leads To Industry Regulation

October 10, 2017

Communities Secretary, Sajid Javid MP has used his speech to the Conservative Party Conference to announce plans to introduce mandatory regulation for letting agents in England. These measures follow 20 years of ARLA Propertymark campaigning for mandatory regulation and will be the single greatest step forward in a generation for consumer protection within the private rented sector. Regulation offers to do more to clean up the image of the industry than the hundreds of smaller laws and pieces of legislation passed …

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