A quick look back over 2015
As 2015 comes to an end I thought it might be interesting to just look back at some items of news that stood out during the year for those of us involved in the Property Industry, if anyone has anymore to add please do so in the reply section.
Month by month 2015
January. Analysts were suggesting slower growth in 2015 than was the case in the year just gone. Somewhat rarely, there was near consensus among them on what that growth in property prices would be – about 4%………OnTheMarket launched in January and sparked intense controversy by forcing agents who use it to choose between the other two instead of listing on all three.
February. UK house prices fell in February for the first time in five months, according to research by Nationwide.
March. Chancellor George Osborne set out his tax and spending plans in his last Budget of the Parliament. He announced tax cuts for first-time home buyers, workers and savers and claimed that Britain is “walking tall again.” Labour leader Ed Miliband said Mr Osborne had “failed working families” and claimed people would not believe the budget.
April. Political parties were busy publicising their party manifestos in readiness for the General election. The labour party wanted to introduce rent controls for the PRS and The Conservatives’ key housing policy was the extension of the Right to Buy scheme to housing association tenants.
May. The General Election was held on the 7th May with a win for the Conservative Party with an unexpected overall majority, this was music to the ears of all those in the property industry. London’s housing market is set to soar following the Conservative election victory, putting an end to months of pre-ballot jitters and concerns over Mansion Tax.
June. Two of Britains best known landlords Fergus and Judith Wilson begin to sell off part of their huge portfolio of properties as they begin to dismantle their property empire. Deposit protection legislation came into force Under the Deregulation Act, from June 23, tenancy deposits taken before April 6 2007 now fall under deposit protection law Landlords must ensure that these long-term deposits are protected with one of the three government-approved tenancy deposit protection schemes or face a hefty penalty.
July. Rent Smart Wales aims to raise standards in the private rented sector in Wales with the introduction of a new law requiring the registration and licensing of landlords and agents.
August. Rogue landlords and letting agents face higher fines, being potentially blacklisted from the property industry and being forced to repay rent taken since the start of a tenancy under proposals outlined by the government this week.
September. On 18 September 2014 people in Scotland voted in a Referendum to remain in the United Kingdom, the UK government believes that Scotland is better off in the UK and the UK is better off with Scotland in it.
October. It was announced that rents in England and Wales hit an all time high in the previous month, averaging £768, 1.5% higher than the same time last year.
November. Chancellor George Osborne has set out the state of the economy in the Autumn Statement and spending plans for the next four years in the Spending Review.
December. Britains best known landlords finally call it a day with the sale of the final part of their property Empire to a consortium of foreign investors. UK house price growth accelerates to eight month high in December. Bank of England Governor Mark Carney said the central bank will take action to regulate lending for mortgages used by landlords to buy properties. Purplebricks online Estate Agent launched on the stock market.
On a final note let us all give a thought to all those that have and still are being affected by the terrible floods in the UK.
What was your best remembered property news item in 2015? Share it with us in the reply section.