Altus Group’s Post

Labour are planning a WAR on landlords! Abolishing Section 21 - banning no fault evictions for landlords. All EPCs must meet C by 2030 - near impossible for the main rental stock in the North (Victorian terraces), and the costs to achieve this with the current EPC system would be extortionate French style “hardship” tests would be required to be carried out before landlords could evict tenants No action taken towards the number of empty housing in the UK - Labour instead plan to build 1.5m new houses in 5 years, whilst thousands of properties sit empty, many of which could make good quality housing for tenants. Landlords face increased costs, potentially leading to increased rents or worse yet, landlords exiting the market only worsening the demand for good quality rental properties in the UK. What will Labour do next, COMMENT below. #property #ukproperty #propertyinvestment #labour #labourparty #keirstarmer #investment #angelarayner

All change – how the new Labour Government’s property proposals will impact landlords, investors and developers… https://lnkd.in/e7ytF5gZ #CommercialProperty #ResidentialProperty #PropertyDevelopment #LabourGovernment #Housingstrategy #GreyBelt #Commercialpropertysolicitor

An interesting article on the BBC website with a deep dive into the Labour governments pledge to build 1.5 million new homes during the current term. Lots of opinions / challenges discussed, but other than a fleeting mention about the potential rising cost of labour, absolutely no mention of the skills shortage which I believe makes the target a pipe dream regardless of planning reform or any of the other “solutions” suggested in this article. There are not enough skilled people in this country with the experience, knowledge or appetite to build these houses, but this never gets a mention. Until young people are encouraged to work in the House Building sector these targets will never be met. Please feel free to comment!

Landlords: Could Labour’s Plan Hit Your House Price? In this week's Market Wrap (#220), we look at Labour’s new housing policy, which shifts focus to building more homes in the North. Regions like the North East and North West are set to see a significant increase in new builds, while targets in London and the South East are being cut. We question whether this strategy makes sense, given that the highest rents and property prices are in the South East, where many landlords face challenges. Critics argue that these changes could worsen existing issues rather than solve them. A more strategic approach is needed to meet the real demands of the housing market, particularly for landlords and tenants alike. #UKPropertyMarket #Investment #PropertyInvestor #MarketUpdate #buytolet https://lnkd.in/e_sj3wxn

Straight shooter tells it as it is! Highly respected Scott Hutchinson says surplus demand is driving up costs, driving down profits in construction industry. The need to increase supply at a reasonable cost to builders is part of the solution. How does one reconcile surplus demand? I think Scott makes a great point in what he conveys. When he takes on less work his profits increase vs a year prior when he had taken on significantly more projects it resulted in reduced profits . I recall from my College days. The law of diminishing returns. Now we see it in action here in the construction sector in Australia. We apparently need 90000 skilled migrants workers in the next 3 months or construction companies will not have the resources to complete the targets set out by government ?? Insightful solutions are needed. We all acknowledge we need to get cost of materials down but without the skilled workers there is no pathway way forward in the medium term! Interested to hear 💡 from others who read this piece.

RORK = Administration! 🔊 “Builders are in crisis because of high interest rates, labour shortages and material supply constraints following the pandemic,” a note reads on the Rork Group website, along with the announcement of the administration. The trend continnues not surprisingly and it is important you work with your professional service providers early to assess the financial situation and consider restructring or other options. #voluntaryadministration #insolvency #buildingandconstruction

There are always many reasons why a business goes into administration. And is usually a sad outcome for both founders, owners, staff, employees and creditors. But…the failure of another SME construction firm in Scotland is part of a very worrying trend that is hollowing out our capacity to build homes for our folk. Homes for Scotland campaigned vigorously last month for the plight of SME builders but we are going to have to see a massive improvement to the Scottish planning and approval system if more business failures are to be avoided. The chronic delay to planning and the onerous obligations handed out to small builders are strangling capacity and driving folk out of this sector. Resolving this should be a Scottish Government priority- dinnae haud yer breath.

New governing party = New promises... will this be the change that the built environment needs? 🤔 The Labour party are in and the Conservative party are out! They won by a landslide and now the construction industry are eagerly awaiting the announcement of more details surrounding Labour's pledge to build 1.5 million new homes. 🏡 The announcement is expected before the end of the month and will provide a planning framework and reinstate housing targets. They have promised to boost affordable housing, through Rent to Buy discounts and making changes to the Affordable Homes Programme. To read more about Labour's manifesto, click the link in the comments below. 🔗⬇️ #Construction #LabourParty #BuiltEnvironment #Recruitment

"Landlords are exiting the market now Labour are abolishing Section 21, but what if there was a solution? The newly elected Labour party are enforcing the abolition of Section 21: ‘no fault evictions’, and after speaking to quite a few landlords recently, many are looking to exit the market. Section 21 allowed landlords to evict tenants after their tenancy agreement ends, but without it, tenants will now have more control over your property. Whilst this seems a positive step for tenants, and landlords don’t want to evict tenants, especially good ones, landlords still required the ability to regain control of their property when required. Landlords are worried, but there is a solution… Company Lets! Renting to a company on a lease agreement allows landlords a hassle-free way to still profit from their investment without the headaches of being a landlord. There are also break clauses agreed within the lease agreement giving the landlord peace of mind should they need to reclaim their property back. Are you a landlord thinking of exiting the market and looking for hassle-free management of your property? Feel free message as we may be able to help. #propertymanagement #hmomanagement #hmochesterfield #hmosheffield #hmomansfield #hmobassetlaw #guaranteedrent #section21 #labourparty"

Achieving Labour's target of 1.5 million new homes in 5 years would require 𝐚 𝐫𝐚𝐭𝐞 𝐨𝐟 𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐭𝐡𝐚𝐭 𝐰𝐞 𝐡𝐚𝐯𝐞𝐧'𝐭 𝐬𝐞𝐞𝐧 𝐬𝐢𝐧𝐜𝐞 𝐭𝐡𝐞 𝟏𝟗𝟔𝟎𝐬. A new report from the Institute for Government makes several suggestions for how this can be achieved, such as 𝐛𝐲 𝐞𝐪𝐮𝐢𝐩𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐬𝐲𝐬𝐭𝐞𝐦 𝐭𝐨 𝐝𝐞𝐥𝐢𝐯𝐞𝐫 𝐚𝐧𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐭𝐡𝐞 𝐜𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐬𝐞𝐜𝐭𝐨𝐫 𝐢𝐧 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐧𝐞𝐜𝐞𝐬𝐬𝐚𝐫𝐲 𝐬𝐤𝐢𝐥𝐥𝐬 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞𝐬. However, these suggestions shouldn't be treated as temporary measures. Making them permanent features in UK housing policy will help support the needs of the future. #HousingPolicy #HousingCrisis #Construction #HomeBuilding