This year’s Autumn Budget was probably one of the most anticipated in recent years, setting out the domestic policy and fiscal measures direction ahead for the UK ahead of Brexit. ARLA Propertymark, our lettings governing body, have clearly outlined below what the Autumn Budget held for housing.
The Chancellor sold the budget as a “budget that paves the way for a brighter future” saying that the era of Austerity is finally coming to an end, and that the country now has a new future outside the EU. He also said that, if necessary, he would extend the 2019 Spring Statement into a full fiscal event.
With the Government spending much of their time and resources on finalising their Brexit deal, it was a budget relatively devoid of fiscal measures which will directly affect the private rented sector, with perhaps the biggest announcement coming in relation to Universal Credit.
As was widely predicted ahead of the budget, the Chancellor bowed to intense pressure from MPs on all sides as well as pressure groups and membership organisations, by announcing an extra £1 billion of funding over the next five years to help aid the transition from areas that have still yet to make the move from the old benefits system to the new benefits package that is Universal Credit. Hammond also promised “additional protection” for those moving onto UC, adding that more details will follow later this year. Work allowances will be increased by £1,000 per annum.
The original plan was that Universal Credit would be fully introduced by 2017, but roll-out has been pushed back several times, with the Full Service – the final, digital version of UC, available for all claimant groups – now not expected to be operational throughout all parts of the United Kingdom until December 2023.
From April 2020 the Government will limit Lettings Relief to properties where the owner is in shared occupancy with the tenant, and reduce the final period exemption from 18 months to 9 months.
Chancellor Hammond also announced a financial package aimed at boosting the UKs high streets, which will include £900 million in business rates relief, cutting business rate bills by a third for almost half a million small businesses. A further £675 million co-funding injection (aptly named the Future High Streets Fund) is set to be introduced over the next four years and will allow towns and cities to redevelop under-used retail space into homes and offices, providing help to restore High Street properties and put historic buildings back into use. He said it would help with the housing challenge whilst increasing footfall in town centres.
Gary Harper. CEO of Propertymark Industry Supplier, Reapit said: “Cutting business rates by a third for smaller businesses could be beneficial to estate agents in the small and mid-sector by helping them to retain their high street presence. However, this may not be enough in isolation with high street spending ever reducing and fewer property transactions resulting in potential losses amounting to £4 billion annually for estate agents. There is more compliance than ever across the lettings sector and more types of relief may be needed or we could continue to see increasing consolidation, as is already happening.”
The sales market
The Chancellor biggest announcement relating to the sales market was that stamp duty relief would be extended to include first-time buyers of shared ownership properties under £500,000.
Mark Hayward, Chief Executive, NAEA Propertymark commented on this shortly after the budget:
“When the Government announced a stamp duty holiday for FTBs in last year’s Autumn Budget, we said that it was a sticking plaster which did not tackle the wider problem of rising house prices, lack of affordable housing and supply of suitable homes in the UK. Today’s news that this relief is being extended retrospectively to include FTBs in shared ownership properties is unlikely to have any material impact. Our data shows that so far in 2018, 26% of property transactions involved FTBs. This was the same figure as that for the whole of 2017, showing that it hasn’t had a real impact so far, and therefore is unlikely to make a real difference moving forwards.
“Instead of focusing solely on those buying their first home, the Government needs to look at the whole system to ensure it’s working effectively for all buyers, and there are suitable homes for everyone.”
Other key measures taken to address housing supply and planning were:
- Consultation on simplification of the process for conversion of commercial property into new homes
- Increased business rate retention from 2020, giving local councils greater control over the money they raise
- Removal of the Housing Revenue Cap
- Funding to empower up to 500 neighbourhoods to allocate or permission land for housing, through the Neighbourhood Planning system, for sale at a discount to local people
- A further £500m for housing infrastructure fund, which will unlock 650,000 homes. Local authorities bid for a share of the pot, which is designed to deliver new physical infrastructure to support new and existing communities and make more land available for housing in high demand areas, resulting in new additional homes that otherwise would not have been built
- The Government will respond to Oliver Letwin’s report on land and planning in the new year
- Family homes will be not be subject to Capital Gains tax
For fuller information on the direction the letting and sales markets are taking and how it may effect your property options please call Kate Morton, Head of Lettings on 02392 633 020 or Kate Porter, Head of Sales on 02392 633 026
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For full details on ARLA Propertymark see www.aarla.co.uk
A Bedales School team of 32 runners who took part in the Great South Run in Southsea on 20/21 October has so far raised £4,200 for two education charities.
Pupils, staff, parents, alumni and friends of the school joined forces to run in glorious sunshine in the Great South Run races over the weekend. The junior and adult 5 km events were held on Saturday and featured 12 Bedales pupils and parents; 20 Bedales runners ran in Sunday’s 10 mile race, which attracted over 20,000 competitors as one of the largest events in Europe’s running calendar, and boasts Mo Farah and Paula Radcliffe as former winners.
Youngest team members were eight year-old Bedales Prep School pupils Annabel Rowell and Madeleine McNeill, and nine year old Benny McNeill. Top Bedales performers in Sunday’s 10 mile race included friend of the school Max Walker (55’08), maths teacher Greg Clarke (1’11’12), and former Bedales student George Vaughan-Barratt (1’13’48). Special mention goes to parent Dupé Fouhy who ran in both the 5 km event on Saturday and Sunday’s 10 mile race.
Donations are being shared between two charities, one international and one UK based: Cecily’s Fund supports orphans and vulnerable children affected by HIV/AIDS in Zambia, enabling them to gain an education; the John Badley Foundation provides transformational opportunities for young people to benefit from a Bedales education through fully funded bursaries.
Basil Eastwood, Founder of Cecily’s Fund and father of Cecily who attended Bedales from 1991-96, commented: “This was a wonderful effort by the Bedales community, supporting two charities which in their different ways are totally dedicated to the proposition that, especially for the disadvantaged, education changes lives. Cecily was working in Zambia when she died, and with this support Cecily’s Fund will be able to give hope and education to over 40 orphans or vulnerable children.”
Running team member, Applications Engineer, and former beneficiary of a John Badley Foundation bursary at Bedales Albie Waterton said: “The Great South Run is a great way to give back to the Bedales community. The day itself was a far warmer affair than last year and allowed people to perform to their best, whilst supporting the work of two great education charities close to Bedalians’ hearts. The year on year effort via members of the school community – past and present – allows so many people who could really benefit from it, to experience the Bedales environment and make the most of it.”
Sponsored by the Country House Company and fundraising platform Pledgit, the team is encouraging further donations which can be made online here.
The Country House Company has always been passionate about the importance of regulating the industry. Therefore it came as a relief to hear that Housing Minister, Heather Wheeler has announced that a new working group will be set up, tasked with raising standards across the housing sector; taking us a step closer to full regulation of the industry.
The working group will be headed up by Lord Best, an independent cross bencher and supported by professional bodies including ARLA Propertymark and consumer groups such as Citizens Advice. The group will look at ways to improve standards for home buyers, sellers, tenants, landlords and leaseholders.
At the moment anyone can operate as a property agent, although lettings professionals can set themselves apart from the competition, as The Country House Company years ago, by joining a membership organisation such as ARLA Propertymark. In doing so, they agree to abide by a Code of Practice and provide greater protection for tenants and landlords, including Client Money Protection and belonging to a redress scheme.
The Regulating Property Agents Working Group will be tasked with considering the case for a fully regulated industry, including mandatory qualifications for all property agents and will work towards a new framework which will be consistent across letting agents, managing agents and estate agents. Full regulation would bring the industry up to the standards already attained by ARLA Propertymark Members, making it easier for the public to understand the level of professionalism and protection offered by those working in the housing sector. This would bring increased confidence among consumers and a boost the reputation of the industry, making it more akin to the legal or accounting professions.
The introduction of mandatory qualifications, greater transparency and more accountability is to be encouraged and supported across the industry. We are professional, qualified and are members of ARLA Propertymark, and looking forward to other agents having to reach the same standard.
Marishelle Gibson
The Country House Company has always been passionate about the importance of regulating the industry, so it came as a relief to hear that Housing Minister, Heather Wheeler has announced that a new working group will be set up, tasked with raising standards across the housing sector.
The working group will be headed up by Lord Best, an independent cross bencher, supported by professional bodies including ARLA Propertymark and consumer groups such as Citizens Advice. The group will look at ways to improve standards for home buyers, sellers, tenants, landlords and leaseholders.
At the moment anyone can operate as a property agent, although lettings professionals can set themselves apart from the competition by joining a membership organisation such as ARLA Propertymark. In doing so, they agree to abide by a Code of Practice and provide greater protection for tenants and landlords, including Client Money Protection and belonging to a redress scheme.
The Regulating Property Agents Working Group will be tasked with considering the case for a fully regulated industry, including mandatory qualifications for all property agents and will work towards a new framework which will be consistent across letting agents, managing agents and estate agents. Full regulation would bring the industry up to the standards already attained by ARLA Propertymark Members, making it easier for the public to understand the level of professionalism and protection offered by those working in the housing sector. This would bring increased confidence among consumers and a boost the reputation of the industry, making it more akin to the legal or accounting professions.
The Country House Company is a member of ARLA Propertymark and NAEA Propertymark which have been lobbying Government for years for a fully regulated industry and have been instrumental in persuading the Government to take action.
The working group will look at:
- a model for an independent property-agent regulator, including how it will operate and how it will enforce compliance.
- a single, mandatory and legally-enforceable Code of Practice for letting and managing agents, and whether similar could be provided for estate agents.
- a system of minimum entry requirements and continuing professional development for letting, managing and estate agents.
- a standardised approach for presenting transparent service charges?to leaseholders and freeholders.
- an easier statutory-backed process for consumers to challenge unfair service charges.
- whether other fees and charges which affect both leaseholders and freeholders are justified; should be capped or banned.
- further measures to professionalise estate agency.
Mark Hayward, Chief Executive of NAEA Propertymark said: “We have been working closely with government since the announcement of the Regulating Property Agents Working Group. We are pleased to see that this has been now set up and look forward to progressing this in the interests of all parties”.
Sue Crossley, founding partner of The Country House Company commented: “There is a considerable amount of legislation that has to be dealt with by landlords and agents. Some of this legislation is for the good of the industry and the introduction of mandatory qualifications, greater transparency and more accountability is to be encouraged and supported across the industry. We are professional, qualified and are members of ARLA Propertymark, and looking forward to other agents having to reach the same standard.”
For full details on The Country House Company please call Marishelle Gibson on 02392 632275. For full details on ARLA Propertymark see www.arla.co.uk .
Following last years success Bedales runners are again entering the Great South Run on 21st October and as a few members of The Country House Company team run to keep fit, we are excited to be a sponsor and member of the Bedales Great South Run Team.
The Country House Company and Pledgit are helping the team to raise money for two Bedales Charities, John Badley Foundation and Cecily’s Fund.
The John Badley Foundation provides life changing opportunities by funding 100% bursaries to Bedales Senior and Prep Schools for talented new students whose family circumstances mean that a Bedales education would otherwise be completely out of reach. Cecily’s Fund is an international development charity, enabling orphans and vulnerable children in Zambia to gain an education so that they are able to reach their true potential and have better futures.
The Bedales Great South Run Team includes pupils, old Bedalians, teachers, support staff, parents, former parents, other supporters of Bedales and Marishelle from The Country House Company! They are currently at 27 team members and hoping for more so anyone with a connection to Bedales can come forward and join the team.
Further updates to follow…………….
Following last years success Bedales runners are again entering the Great South Run on 21st October and as a few members of The Country House Company team run to keep fit, we are excited to be a sponsor and member of the Bedales Great South Run Team.
The Country House Company and Pledgit are helping the team to raise money for two Bedales Charities, John Badley Foundation and Cecily’s Fund.
The John Badley Foundation provides life changing opportunities by funding 100% bursaries to Bedales Senior and Prep Schools for talented new students whose family circumstances mean that a Bedales education would otherwise be completely out of reach. Cecily’s Fund is an international development charity, enabling orphans and vulnerable children in Zambia to gain an education so that they are able to reach their true potential and have better futures.
The Bedales Great South Run Team includes pupils, old Bedalians, teachers, support staff, parents, former parents, other supporters of Bedales and Marishelle from The Country House Company! They are currently at 27 team members and hoping for more so anyone with a connection to Bedales can come forward and join the team.
Further updates to follow…………….
Always keen to endorse campaigns that raise public awareness of safety issues, here at The Country House Company we are fully supportive of Gas Safety Week which takes place this week 17th – 23rd September.
This is the eighth annual Gas Safety Week and will involve organisations raising awareness of the dangers of poorly maintained gas appliances, which can cause gas leaks, fires, explosions and carbon monoxide (CO) poisoning.
To help keep the nation gas safe, Gas Safe Register is calling for people to get their gas appliances safety checked by a suitably qualified Gas Safe registered engineer if it’s been a year or more since they were last looked at.
Gas Safe itself is using the week to address issues including tackling illegal gas work to reminding people to avoid DIY when it comes to gas appliances and instead leave it to the experts – registered engineers who are legally qualified to make sure appliances are working safely and efficiently.
A survey of more than 2,000 UK adults conducted for Gas Safe found that 19 per cent would only consider getting their gas appliances checked if they stopped working.
Gas Safe says unsafe gas appliances can cause gas leaks, fires, explosions and carbon monoxide poisoning and resulted in 201 call outs from the fire and rescue services last year.
To help keep the nation gas safe, Gas Safe Register is calling for people to get their gas appliances safety checked by a suitably qualified Gas Safe registered engineer if it’s been a year or more since they were last looked at.
Gas Safety is particularly important for the private rented sector where the safety of gas appliances is often out of tenants’ hands. This is a prime example of the importance of using a professional Lettings Agency such as The Country House Company who will ensure that a valid gas safety certificate is issued at the start of a tenancy
It is a legal requirement for landlords to provide a valid gas safety certificate, if applicable, and to have it renewed annually. For all properties fully managed by The Country House Company we ensure that all the safety certificates are up to date.
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For further information on all Residential Letting Services offered by the Country House Company please contact Kate Morton on 02392 633020 or email kate@countryhousecomany.co.uk
Always keen to endorse campaigns that raise public awareness of safety issues, here at The Country House Company we are fully supportive of Gas Safety Week which takes place this week 17th – 23rd September.
This is the eighth annual Gas Safety Week and will involve organisations raising awareness of the dangers of poorly maintained gas appliances, which can cause gas leaks, fires, explosions and carbon monoxide (CO) poisoning.
To help keep the nation gas safe, Gas Safe Register is calling for people to get their gas appliances safety checked by a suitably qualified Gas Safe registered engineer if it’s been a year or more since they were last looked at.
It is a legal requirement for landlords to provide a valid gas safety certificate, if applicable, and to have it renewed annually. For all properties fully managed by The Country House Company we ensure that all the safety certificates are up to date.
One of the many advantages of using our Full Management Service – why lose sleep when we can take the responsibility?
Marishelle Gibson
The Country House Company are delighted to offer for sale this impressive detached residence, positioned at the edge of the popular village of Houghton with far reaching views over The River Test.
Constructed to an exacting standard by the current owners in 2009 the property showcases superb oak beams, multiple glazed panels and vaulted ceilings plus additional features including ‘Ice Energy’ ground source heat pump with underfloor heating, rainwater harvesting for garden use, Smart Vac Central Vacuum System and Clipsal Smart Home Technology, plus Cat 5 wiring throughout.
The accommodation is arranged over two levels and includes, on the ground floor, a welcoming reception hall, inner hall with full height glazed panels and oak staircase, spacious open plan kitchen/dining/living room which has a bespoke fitted kitchen with stainless steel Cornife Range Cooker, electric Aga and doors to the garden. Leading off this room is a large dual aspect sitting room with open fireplace, log burning stove and also doors outside. In addition, there is a study/bedroom 5, utility and cloakroom.
On the second floor is a galleried landing with seating area, a master bedroom suite with bathroom, dressing room and private balcony. A guest bedroom with contemporary wet room, two further double bedrooms and stylish bathroom complete the accommodation.
The property is elevated with magnificent views from most aspects and is approached via a driveway which rises to an area for parking to the rear with garden shed and log store. To the front is an attractive sun terrace with lawn and stepped terrace and a stunning view across The River Test and countryside beyond. Also, to the side is a pretty Summer House and to the rear of the house is a further area of garden which adjoins paddock land and benefits from a sunny aspect and superb outlook. The grounds total approximately 0.42 acres.
Positioned on the edge of Houghton the property is within walking distance of The Boot Inn which is renowned for its restaurant and garden.
Stockbridge itself is within approximately 2.0 miles and offers an eclectic mix of boutiques, restaurants and shopping facilities with extensive amenities at Romsey, Winchester and Salisbury. For road and rail Grateley, Salisbury and Winchester are easily accessible with the A303 and A36 within a short drive.
For full details on this and other properties available through The Country House Company please call Kate Porter on 02392 632275 or see www.countryhousecomany.co.uk