April 25, 2023

News

Property News – New Short-Let Rules

Do you have an investment property ran as a short-let? Then listen up to the new rules coming…

New rules to give communities greater control over short-term lets in tourist hot spots, while also strengthening the tourism sector, were unveiled by the Government earlier this month.

A consultation published by the Department for Levelling Up, Housing and Communities will propose introducing planning permission for an existing home to start to be used as a short term let – helping support local people in areas where high numbers of holiday lets are preventing them from finding affordable housing.

It will also consider whether to give owners flexibility to let out their home for up to a specified number of nights in a calendar year without the need for planning permission.

Short-term lets are now a significant part of the UK’s visitor economy.

They provide increased choice and flexibility for tourists and business travellers, and also those attending major sporting and cultural events.

The Government wants to ensure the country reaps the benefits of diverse and sustainable accommodation and support the visitor economy, while also protecting local communities and ensuring the availability of affordable housing to rent or buy.

Secretary of State for Levelling Up Housing and Communities, Michael Gove said:

“Tourism brings many benefits to our economy but in too many communities we have seen local people pushed out of cherished towns, cities and villages by huge numbers of short-term lets.”

“I’m determined that we ensure that more people have access to local homes at affordable prices, and that we prioritise families desperate to rent or buy a home of their own close to where they work.”

The proposed planning changes would see a planning use class created for short term lets not used as a sole or main home, alongside new permitted development rights, which will mean planning permission is not needed in areas where local authorities choose not to use these planning controls.

Subject to the outcome of the consultation, the planning changes would be introduced through secondary legislation later in the year and would apply in England only.

Full article can be found on the government website : New holiday let rules to protect local people and support tourism – GOV.UK (www.gov.uk)

Are you looking to invest in property? Contact us today to discuss our UK property hotspots and find a property suited to your needs and budget!

More news/insights

News

July 20, 2023

  • News

Halifax Area Spotlight

Property investment is a popular choice for many people, and Halifax has become an attractive area to invest in. Here’s why… Halifax is a beautiful town located in the Metropolitan Borough of Calderdale. With its close proximity to major cities such as Leeds and Bradford, it offers easy access to the amenities of city life […]

News

July 11, 2023

Mortgage Rate Update – July 2023

Lenders change the rates of their mortgage products regularly. However, in the last few months, they have changed drastically due to the Base Rate increases. On 22 June, the Base Rate increased to 5% from 4.5% in March. Rightmove has a useful tool whereby you can access weekly updates on the current mortgage interest rates. Below […]

News

July 4, 2023

UK Residential Market Survey Breakdown – May 2023

RICS recently released their May 2023 UK Residential Market Survey & there are some interesting correlations. The first graph on the left (below text) shows the number of new landlord instructions. Since mid-2016, generally speaking, new landlord instructions have been falling. It’s no surprise as since 2015, and the UK government have been making it […]